Insurer
Sompo opens third UK office
Sompo has opened an office in Manchester.
People Moves: 1 – 5 July 2024
Stay in the loop with the latest insurance personnel moves.
Munich Re MGA put into run-off
Munich Re has put GrovesJohnWestrup, its high-net-worth managing general agent, into run-off.
Event insurance – how is the sector evolving to meet the changing risk landscape?
While the event sector has rebounded post-Covid, it still faces a host of challenges. Challenges that offer brokers opportunities to help organisers both manage and mitigate risks to soften the blow if they have to cancel or postpone a planned event due…
SRG buys political violence specialist Tristar Special Risks
Specialist Risk Group has acquired political violence specialist Tristar Special Risks building out SRG’s managing general agent, MX, which was launched in December 2021.
Beazley names Sam Franks as country manager of UK & Ireland
Sam Franks has been appointed to the newly created role of country manager of UK & Ireland at Beazley, effective immediately.
Meet the MGA: Rokstone
Ian Anson, MD of Rokstone, highlights talent that passes the ‘BBQ test’, an entrepreneurial culture and deep relationships with capacity providers as key to it achieving its goal of stretching the boundaries of what an MGA can offer.
Meet the MGA: Phoenix Specialty
A new entrant into the construction insurance market, Tim James, managing director at Phoenix, explains how it is responding to the wide variety of risks that exist within the market in the UK today, with eyes on global expansion in the future.
Bspoke ramps up in HNW with multiple ex-H&L appointments
The Bspoke Group has appointed Adrian Ewington as managing director of Bspoke Private Clients, its mid and high net worth specialist managing general agent.
AM Best keeps Accredited ratings under review after Onex buy
AM Best has maintained the under review status of fronting business Accredited after the sale to Onex Partners last week.
Onex MD targets “responsible growth” after completing Accredited deal
Onex Partners has completed its acquisition of fronting business Accredited.
Acturis maintains growth streak with 19% revenue expansion
Acturis has posted a £22.75m rise in revenue for 2023 to £144.1m, its 22nd consecutive year of growth.
Brokers lacking when it comes to commercial motor FNOL best practice
Brokers are lagging in educating commercial motor clients on the best practice when it comes to first notification of loss procedures.
People Moves: 24 – 28 June 2024
Keep up to date with personnel moves within the insurance industry.
CDL grows revenue but profit drops for second year in a row
CDL grew revenue by 6.9% to £59.54m in the year ended 30 September 2023, however profit after tax dropped for the second consecutive year to £10.01m.
C-Quence seeks to “unleash” digital tools and target schemes after Sompo tie-up
C-Quence is looking to “unleash the breadth” of its digital capabilities and target more schemes business having switched capacity provider for its property and casualty and property owners propositions.
Optio takes Soni from Axa as CEO
Specialty managing general agent Optio Group has swooped for Axa UK commercial director Deepak Soni as its new CEO.
Avid targets £100m GWP by end of 2025
Managing director of Avid Insurance Services, Stephen Gibson, is targeting £100m of gross written premium by the end of 2025, growing from around £75m to £80m this year.
FCA encourages monitoring review ahead of first Consumer Duty annual report deadline
The Financial Conduct Authority has found many firms need to make improvements in their monitoring to enable them to determine whether they are delivering good outcomes for retail customers, as required by the Consumer Duty.
Cannabis MGU hires Midson to build network with UK brokers
CannGen Insurance Europe has recruited Alan Midson as development director for the UK and Europe with a remit of building out the company’s network of brokers in all legalised countries.
Application and ghost broking motor fraud up 64% at Aviva
Aviva spotted fraud on more than 51,000 motor policy applications last year, up 64% on its 2022 detection figures, the insurer has revealed.
The stats: Q1 2024 - Commercial combined slows to near halt
The year has started with almost no average premium growth in commercial combined while fleet and property owners have powered ahead, according to the latest statistics from Acturis.
Sompo adds Axa XL broker boss Allan Murley with regional remit
Sompo has recruited Allan Murley as head of UK insurance distribution from Axa XL to join in the fourth quarter of the year.
RSA expects new business “clunkiness” to ease from July as it continues NIG integration
RSA expects any “clunkiness” in how it handles brokers seeking quotes from both itself and merger partner NIG for the same business to improve materially from next month.