Insurer
Bspoke sets marker with £5.17m turnover in inaugural accounts
Bspoke Insurance Group has forecast returning to profit after achieving £5.17m of turnover but post-tax losses in its first five months of trading since being formed out of UK General and Precision Partnership.
Shire Insurance returns to Ecclesiastical for vet schemes
Veterinary sector specialist broker Shire Insurance has teamed up again with Ecclesiastical on all schemes business after a two-year hiatus.
Covéa cuts losses but underwriting deficit grows
Covéa Insurance has posted an £87.3m loss after tax for last year with underwriting losses across commercial, personal and speciality lines.
Allianz hails “milestone” with updated trade credit offering
Allianz Trade UK has refreshed its trade credit insurance product suite.
Rokstone acquires box at Lloyd’s
Managing general agent Rokstone has taken box 355 located on gallery three at Lloyd’s, in a three year deal.
MGA Blagrove resumes trading after securing Accredited capacity
Blagrove Underwriting Agency and two MGAs it supports with capacity have today resumed offering quotations and renewing polices, Insurance Age can reveal.
Iprism trebles profit to £1.8m in 2023 results
Iprism Underwriting Agency has more than trebled its profit for the financial year ended 30 June 2023 according to its latest Companies House filing.
RSA confirms trading structure ahead of NIG integration
RSA Insurance today confirmed its new regional trading structure ahead of the integration of NIG on 1 May.
In Depth: Managing cyber risk in an ever-changing security landscape
In today’s interconnected digital landscape, cyber threats are becoming more sophisticated, posing serious risks to organisations and their partners. Aviva’s cyber senior risk consultant, Oliver Osei-Ofosu, explains the importance of cyber security can…
Winslow reunited with Aviva CFO Poole at DLG
Direct Line Group has appointed Jane Poole as group chief financial officer of the company, subject to regulatory approval.
In Depth: Cyber risk and AI – friend or foe?
The rise of artificial intelligence signals both a threat and opportunity for UK firms in pursuit of a cyber-secure future. But how can brokers help clients stay on the winning side, asks Saxon East.
NBS Underwriting rolls out commercial combined
NBS Underwriting has added commercial combined insurance to its product portfolio building on the acquisition of Capital Markets Underwriting.
FSCS details £23m MCE Insurance Company recovery from £90m hit
The Financial Services Compensation Scheme has secured £23m from the estate of Gibraltar-based Green Realisations 123, formerly known as MCE Insurance Company, after paying out approximately £90m in compensation to the firm’s customers.
Aviva completes on £453m AIG Life deal
Aviva has confirmed that, following receipt of all necessary approvals, it has completed the acquisition of AIG Life UK.
In Depth: New dimensions in cyber risk
UK businesses are under increasing threat from cyber attack, yet it remains one of the most underinsured risks. Saxon East reports
Acies launches MGA backed by Axa capacity
Acies MGU has launched construction-focused managing general agent Phoenix Specialty with capacity backing from Axa UK.
Ex-Ecclesiastical leader Adrian Saunders joins Iprism as NED
Managing general agent Iprism has named former commercial director of Ecclesiastical Insurance, Adrian Saunders, as a non-executive director.
People Moves: 2 – 5 April 2024
Follow the latest insurance personnel moves.
Open GI swoops for Hug Hub’s Digital Platform
Open GI has bought Hug Hub’s Digital Platform which offers portal capability for insurance brokers and managing general agents.
FOS confirms levy cut but forecasts more insurance complaints
The Financial Ombudsman Service has set its levy for 2024/25 at £70m despite anticipating an increase in operating expenditure and caseload.
FCA adds four more S166s to sector
The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.
Beazley Digital’s Fantozzi: SMEs need to be alert to cloud-based cyber exposure
Small businesses face a growing threat of cyber-attacks as they move more services to the cloud, according to Ian Fantozzi, CEO of Beazley Digital.
ABI publishes guide on improving support for autistic customers
The Association of British Insurers has published a good practice guide for the insurance and long-term savings industry on supporting autistic customers.
Esure posts trading and post-tax losses for 2023
Esure swapped a trading profit of £49.8m in 2022 for a loss of £16.7m last year, the insurer has confirmed.