Insight
Fitch warns of ‘dire’ profitability for insurers in ‘bleak’ picture
The outlook for UK home and motor insurers’ profitability “remains pretty dire for 2023”, according to Federico Faccio, senior director of EMEA insurance at Fitch Ratings.
Aon reports 4% commercial organic growth for Q4 2022
Aon has posted $2.59bn (£2.11bn) of profit for 2022, up from $1.26bn the year before when it was hit by over $1bn of costs from the failed merger with Willis Towers Watson.
Aviva joins GAIN as Industry Transformer member
The Group for Autism, Insurance, Investment and Neurodiversity has welcomed Aviva as an ‘Industry Transformer’ member.
Zurich names James Nicholson as UK CCO
Zurich has named James Nicholson as UK chief claims officer with immediate effect.
PIB buys ABI in Italy
PIB Group has moved into the Italian market with its latest buy, expanding its portfolio, which already included offerings in Ireland, Germany, Poland, Spain and the Netherlands.
Brokers call for more support to help fight insurance fraud
More than three quarters of brokers surveyed by RSA said they needed more resources in fighting fraud, which is on the rise.
People Moves: 30 January – 3 February 2023
Stay up to date with the latest recruitment news in the insurance industry.
Brokers urge FCA to avoid property commission ban as decision looms
The Financial Conduct Authority has been urged not to impose a commission ban or cap on brokers as it faces political pressure for tough action.
Partners& posts £14m group operating loss in first full year results
Partners& has reported group turnover of £22.2m in its first full set of audited results since being launched in April 2020.
Rates rises slowed across UK insurance towards end of 2022
The pace of rate rises across UK insurance slowed down towards the end of last year, increasing by just 4% in the fourth quarter, according to Marsh specialty and global placement data.
Romero Insurance Brokers grows turnover and profit over 20% in 2022
Romero Insurance Brokers has posted a 29% rise in profit after tax to £3.84m as turnover soared 25% organically to £13.6m in the year to 30 April 2022.
Burns & Wilcox launches healthcare liability product
Burns & Wilcox has launched a new healthcare product line within its specialty lines practice. The offering will be available to insurance brokers and care organisations within England, Wales and Scotland.
Sicsic Advisory urges treatment of vulnerable customers should be top priority
Associate director at Sicsic Advisory, Sue Mallender, has stressed that the treatment of vulnerable customers is seen by the Financial Conduct Authority as an integral part of how businesses should operate.
Brokers key to new UK regulated insurer Lumun’s success, says CEO Bilney
The CEO and founder of the proposed new UK regulated motor insurer Lumun has outlined the importance of brokers to its success.
Zurich boosts apprenticeships to 100 for 2023
Zurich has increased the number of apprenticeship places on offer in 2023 across the UK for external recruits and existing staff to 100.
CII chief optimistic of PFS resolution despite 'painful' times
The Chartered Insurance Institute’s CEO, Alan Vallance, has stressed that it was in the best interest of the Personal Finance Society members to appoint extra directors despite it being a painful choice, in his latest response to the PFS's consultation.
Stubben Edge raises £5.6m as business valued at £175m
Stubben Edge Group has secured a further £5.6m in investment taking its total raised to over £20m.
Aston Lark eyes widespread regional expansion in next phase of growth
Aston Lark will look at opening branch offices as it seeks to expand its regional footprint across the UK, according to UK retail managing director Warren Dickson.
Start-up The Yorkshire Broker targets SME
A new commercial insurance broker, The Yorkshire Broker, which is set to launch officially in the SME market in February has shared its frustration over the Financial Conduct Authority’s lengthy application process.
Gove vows commission-chain ban as FCA buildings review on highest charging brokers imminent
A Financial Conduct Authority review into brokers charging the highest commissions for work on buildings insurance is due in just a few weeks as government minister Michael Gove vowed to ban commission-chains and bring in ‘transparent’ fees.
Atec leader sets out doubling target
Atec, parent company for Ceta Insurance and Arkel, has plans to more than double its business through organic growth in niche insurance lines over the next five years and will continue to pursue strategic acquisitions.
Arch reveals four UK sector heads to get closer to brokers in underwriting structure shift
Arch Insurance has named UK leaders of property, casualty, specialty and digital underwriting and expanded the scope of its underwriting managers, with immediate effect.
Alan Boswell buys ARW Wealth Managers
Norwich-headquartered Alan Boswell Group has boosted its financial services offering buying ARW Wealth Managers.
David Howden hails double digit UK organic growth and promises more buys
Howden Group CEO, David Howden, has praised the “very strong” and “across the board” organic growth in the business’ UK “pillars” as he revealed the progress at Aston Lark and A Plan.