Insurer
IFB warns of increasing danger as ghost broking rises 6%
UK insurers reported a 6% rise in ghost broking activity on social media last year, according to the Insurance Fraud Bureau as it warned the threat of people being duped would continue to increase with the growth of financial strain.
SRG adds second acquisition to its MGA this year
Specialist Risk Group has agreed to buy Trilogy Underwriting, a specialist property and casualty managing general agent, to add to its MX underwriting pillar.
Acturis continues personal lines push with Covéa
Acturis has partnered with Covéa to make the insurer’s Home IHP product available on its platform, adding to the previously rolled out motor offering.
OneAdvent partners with Bridgehaven in capacity deal
OneAdvent has struck a deal with Bridghaven Specialty UK that will see the hybrid fronting insurer provide A-rated capacity to managing general agent Criterion to underwrite waste management and recycling risks.
Interview: Tim Smyth, Bspoke
Bspoke Group CEO Tim Smyth tells Insurance Age about reaching profitability and expanding with brokers through organic growth, hires and new products as well as acquisitions.
Bexhill UK partners with Acturis on premium finance
Bexhill UK and Acturis have partnered in a full API integration of Bexhill’s premium finance system and Acturis’s insurance broking system.
Next deal on the horizon for Bspoke
Bspoke Group has “signed heads” on its next deal, with an announcement to come ‘in weeks’, CEO Tim Smyth has told Insurance Age.
Allianz’s Hobbs, Arch’s Peters, Aviva’s Martin and Zurich’s Nichols to join panel at Broker Expo 2024
Insurance Age is delighted to reveal the first panel at the Broker Expo 2024 and it has a lot of insurer star power.
People Moves: 15 – 19 July 2024
Keep up to date with the latest insurance industry personnel moves.
Ecclesiastical urges insurer climate credentials be part of broker-client conversation
The majority of brokers are not talking to clients about insurers’ climate credentials, according to research from Ecclesiastical, Insurance Age can reveal.
Ageas here for brokers Beckett promises as connected personal lines flourishes
“We are here for the broker today, and we will very much be here for them tomorrow. There’ll be no change in that strategy,” Ageas chief distribution officer Adam Beckett tells Insurance Age.
Car premiums drop for second quarter in a row
Comprehensive car insurance premiums fell by 6% (£59) between April and June 2024, the second quarter of decreases according to the latest research by Confused/WTW.
QBE unveils QCyberProtect
QBE Insurance has launched QCyberProtect, describing it as a comprehensive and globally consistent cyber policy designed to enhance cyber resilience for a range of clients worldwide.
Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
Gallagher boss: Whether fronter or insurer, MGAs need ‘certainty of capacity’
In the head-to-head Fronting Insurers Vs Traditional Insurers session at the Managing General Agents Association conference last week, Martyn Glover, partner at Gallagher Re, stated MGAs need certainty of capacity.
Underinsurance concerns mount as HNW clients cut cover – Ecclesiastical
Follow-up research among brokers by Ecclesiastical has pinpointed growing worries of high-net-worth underinsurance with a quarter of clients having reduced cover during the past year.
EY records worst motor performance since 2011 with 112.8% NCR
The UK motor insurance market experienced its worst performing year since 2011 last year, recording a loss-making net combined ratio of 112.8%, according to EY’s latest UK Motor Insurance Results.
Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
Aviva completes £249m Probitas buy
Aviva has completed the £249m purchase of Probitas after getting all the necessary approvals.
Interview: Nick Hobbs, Allianz Commercial
After the hardest but most energising 12 months of his career, Allianz Commercial’s chief distribution officer Nick Hobbs celebrates the insurer’s expanded appetite as he looks to bring even more quotes and solutions to brokers.
Axa Commercial promotes Dene Smith to regional director for the North
Dene Smith has been appointed regional director for the North at Axa Commercial, replacing Rob Corner who left in March.
Commercial Express launches new leisure and park home cover
Commercial Express has rolled out a revamped leisure and park home offering, promising brokers and leisure homeowners a wider range of cover options and greater flexibility.
How specialist incubators are helping fuel MGA growth
The managing general agent sector is booming, creating increased demand for specialists who can help would-be MGAs get set up. Edward Murray explores this world of ‘incubators’, and highlights how they can help fledging businesses.
Hiscox shares soar 150 pence following takeover links
Hiscox shares closed the day [Monday 8th July] up 13.43% (150 pence) at 1,267 pence, giving it a market cap of around £4.3bn after the insurer was linked with a takeover.