Insight
LMG unveils Futures Academy to boost under 30s working in specialty insurance
The London Market Group has announced that the EC3 insurance community will host its first 'Futures Academy', providing a fortnight of industry insights for more than 100 Year 12 students.
Ecclesiastical targets leisure venues in growth drive
Ecclesiastical is launching a new leisure product as part of its plans to double the size of the business.
Turnover and profits soar at Avantia in 2022
Home insurance specialist Avantia achieved double-digit growth in turnover and profits in 2022.
Brokers split on benefits versus costs of Consumer Duty
Only 49% of brokers agree the long-term benefits to their firm of the Consumer Duty will outweigh the short-term costs, according to research by the Financial Conduct Authority.
People Moves: 26 – 30 June 2023
Stay in the loop with the latest insurance personnel moves.
Larger brokers help drive 139% turnover boost at Winn Group
Winn Group has posted 139% turnover growth for the year ended 31 March 2023, driven by its increasing traction with larger brokers.
FCA reveals 69% of brokers feel fully ready for Consumer Duty deadline
The Financial Conduct Authority has set out that 69% of brokers believe they will be ready to comply with all requirements of the Consumer Duty when it comes into force on 31 July.
Up-for-sale capacity provider Accredited’s profits soar despite group loss
Accredited, one of the major capacity providers to managing general agents in the UK, has reported a 76% rise in gross written premium to $1.8bn (£1.4bn) in 2022.
FCA research shows brokers outperforming financial services on Consumer Duty understanding
Detailed research by the Financial Conduct Authority has revealed brokers are ahead of the financial services industry on almost all metrics of Consumer Duty understanding.
FCA orders DLG to compensate any customers short-changed on total loss motor claims
The Financial Conduct Authority has ordered Direct Line Group to compensate any customers who have been short-changed on settlements for their written-off vehicles.
Acturis grows revenue and R&D spend in 2022
Acturis has reported an 8.4% rise in revenue for 2022 to £121.33m as it continued to gain market share, adding new brokers and insurers.
JMG strikes 10th deal of 2023
JMG Group has bought Cheshire-based Blackfriars Group, taking its deal total for 2023 to 10.
New insurtech aims to ‘revolutionise’ non-standard motor broking
A new insurtech named Kwoter aims to ‘revolutionise’ insurance broking in non-standard risks.
Aston Lark continues expansion with Reading branch
Aston Lark has opened an office in Reading – its third new branch in 2023 – as part of the broker’s regional push.
Arch names Starkie as Manchester branch manager
Arch Insurance’s UK regional division has appointed Janine Starkie as branch manager in Manchester with immediate effect.
MGAA names Signature Underwriting as 200th member
The Managing General Agents’ Association has named niche motor hire specialist Signature Underwriting as its 200th MGA member.
Howden appoints Rowan Douglas as CEO of climate risk and resilience
Howden has appointed former WTW climate leader Rowan Douglas as CEO, climate risk and resilience.
Lockton takes Clarissa Franks from Marsh as head of UK P&C retail
Lockton has swooped for Clarissa Franks as head of UK P&C retail. Franks is joining from Marsh and will take up the post in November.
James Hallam rebrands Scottish buys
James Hallam has rebranded CCRS and Broker Scotland, having snapped up the Scottish brokers in August 2022.
EY pegs UK motor NCR at decade worst 109.5%
The UK motor insurance market experienced its worst performing year in a decade in 2022, with further losses expected this year, according to EY’s latest UK Motor Insurance Results report.
CDL grew turnover in 2022, but profit slipped as R&D boosted
CDL has reported a 3.56% rise in turnover to £55.68m for the year ended 30 September 2022.
PRA warns insurers on claims inflation and under-reserving
The Prudential Regulation Authority has written to insurers flagging the need to monitor the hit to reserves from ongoing claims inflation and act accordingly.
Insurtech Innovative Risk Labs enters Lloyd's
Innovative Risk Labs has staked a claim for being the first-ever broker of its kind to secure a license to operate within the Lloyd's market.
Start-up broker boss eyes big growth amid property sector turbulence
The boss of a new property broker believes customers need faster service than ever amid the current issues facing the property market.