Insight
Biba demands FCA turn up the heat on authorisations ‘burndown’
The Financial Conduct Authority is taking “far too long” to authorise firms seeking to trade general insurance business for the first time and also needs to up its game on key c-suite broker approvals, executive director of the British Insurance Brokers’…
DR&P buys Lloyd Bolam
DR&P Group has bought Macclesfield-based Lloyd Bolam Insurance Brokers for an undisclosed sum.
Ex-SSP leader Peter Gregory joins Earnix
Former director of broking at SSP, Peter Gregory, has joined Earnix as sales director.
Saga in 'exclusive' sale talks with insurtech over Acromas underwriting arm
Over-50s specialist Saga has confirmed that it is in exclusive discussions with Australian insurtech Open to sell its insurance arm Acromas.
WTW achieves 3% organic broking growth in 2022
WTW has reported 3% organic growth in risk and broking revenues for 2022 boosted by a 5% rise in the final quarter of the year.
People Moves: 6 - 10 February 2023
Keep up to date with the latest personnel moves in the insurance industry.
FCA broker c-suite volumes stable as decision delays tick down
The Financial Conduct Authority authorised 1129 general insurance intermediary CEOs in 2021 and a further 994 in the first 10 months of 2022, an Insurance Age Freedom of Information request to the regulator has revealed.
QBE appoints Matt Lacy as director of newly formed client proposition team
QBE has created a client proposition team and appointed Matt Lacy to be its director, with immediate effect.
Zurich UK’s P&C operating profit drops to £226m in 2022
Zurich UK’s operating profit from property and casualty business fell £145m year-on-year to £226m in 2022 due to claims inflation and the impact of large losses.
Aston Lark strikes deal to buy Allegiance Insure
Howden-owned Aston Lark has agreed terms to buy Allegiance Insure in its first acquisition of 2023.
Barbon aims to double £21m earnings in five years
Barbon aims to double its current £21m Ebitda over the next five years, new managing director Wayne Tonge has revealed to Insurance Age.
FCA brings broker role approval turnaround time down to 92 days
The Financial Conduct Authority has begun to improve its turnaround times for approving key general insurance broking roles, bringing the average down to 92 days from 105 days in 2021.
Apollo partners with Moonrock on drone facility
Apollo will be providing capacity to Moonrock Drone Insurance for a facility designed to provide cover for larger commercial drone operations.
Brokers hit as FCA authorisation sign-off lengthens to 237 days
The Financial Conduct Authority’s authorisation service for new brokers looking to trade general insurance business worsened up to the end of October 2022, a Freedom of Information request by Insurance Age has revealed.
US authorities notified of Marsh McLennan's controversial African pipeline involvement
US authorities have been alerted by human rights groups to Marsh’s involvement with the controversial building of an East African oil pipeline.
Allianz Commercial greens fleet policies in revamp
Allianz Commercial has refreshed its fleet policies to reduce repair times and prescribe the fitting of green parts.
Close Brothers Premium Finance recruits ex-Complete Cover boss Shaun Hooper as MD
Shaun Hooper has been appointed managing director at Close Brothers Premium Finance succeeding Seán Kemple who is moving to a broader CEO role.
FCA's misleading ads block count rises 14 fold in a year
The Financial Conduct Authority forced firms to change or remove 8582 promotions in 2022 - 14 times more than 2021.
Specialty MGA UK buys commercial forest and plantation specialist
Recently launched Specialty MGA UK has expanded through the purchase of Forest Re.
Interview: Warren Dickson, Aston Lark
Aston Lark UK retail managing director Warren Dickson says the broker is a different period of expansion with office openings ahead. Navigating the struggling UK economy is also a challenge, but one he is up for.
EY predicts slowdown in premium growth as cost of living pressures bite
UK insurers face slowing premium income growth this year, as high inflation, cost of living pressures and a rise in borrowing costs continue to hit product demand, according to EY.
Aon names Matthew Alcott as UK CCO
Aon has named Matthew Alcott as UK chief commercial officer reporting to UK CEO Julie Page as well as the global CCO team, led by Michael Moran
FCA urges bosses to make Consumer Duty top personal priority in Dear CEO letter
Financial Conduct Authority leader Matt Brewis has written to general insurance businesses reminding them to embed the interests of customers into their firms’ culture and purpose.
Killer of insurance broker jailed for life with a minimum term of 12 years
A man who stabbed an insurance broker to death has been jailed for life with a minimum term of 12 years.