Insurer
Broker deals help push Hiscox to 4.5% UK growth
Hiscox has revealed 4.5% growth in written premiums to £504.2m for the first nine months of 2024 as it topped over half a million customers.
Open GI expands panel with Commercial Express property owners
Managing general agent Commercial Express has joined Open GI’s commercial panel, the software specialists have confirmed.
Hood moves household book from RSA to Bspoke
Bspoke Group has teamed up with Hood Group to underwrite the Top 100 Broker and affinity insurance provider’s household portfolio.
Ex-LV broker leader Michael Lawrence joins Grove & Dean
Michael Lawrence, previously broker distribution and underwriting director at LV GI, has joined Grove & Dean taking on the same job title, Insurance Age can reveal.
SRG builds out MGA arm MX with fourth buy of 2024
Specialist Risk Group has announced the acquisition of reinsurance firm NW Re.
Antares unveils UK MGA focused retail division
Antares Global Management, formerly known as QIC Global, has rolled out a restructure of its underwriting operations with a new retail division to back managing general agents and a commercial division.
Kova enters multi-year capacity agreement with Hadron
Professional indemnity-focused managing general agent Kova Professions has entered a capacity agreement with Hadron, the specialty insurance carrier rated A- by AM Best.
Brokers to warn businesses on lithium-ion batteries
Brokers should urge businesses to take steps to manage the risks that lithium-ion batteries can present, according to guidance from Aviva.
Wholesaler seals second capacity deal in a month
Addept Insurance Services has sealed a capacity deal with The Salvation Army General Insurance Corporation for the firm’s new dedicated tenant pet damage protection insurance for landlords, called Not for Lions.
Insurance industry voices fears over NI and minimum wage hikes on SMEs as it responds to Budget
A host of insurance figures have expressed concern that Chancellor Rachel Reeves' Budget announcement today will mean SMEs could cut back on staff and business investment, as well as commercial cover putting them at greater risk of underinsurance.
Coalition adds another insurer to its UK capacity panel
Cyber specialist insurer Coalition has announced that US insurer The Hartford has joined its panel of UK capacity providers.
Mid-market boss Lyons wants Zurich to become a “nuisance” to rivals
Morgan Lyons, head of mid-market at Zurich, is looking to grow in the smaller mid-market space and become a “nuisance” to its competitors.
MGA doubles D&O line size with Lloyd's capacity deal
Managing general agent Rokstone has doubled its directors’ and officers’ (D&O) line size from £5m to £10m after securing additional capacity from Lloyds’ Syndicates.
People Moves: 21 – 25 October 2024
Stay in the loop with the latest personnel moves in insurance.
Hiscox opens in Bristol
Hiscox has added to its regional presence with a satellite office in Bristol, Insurance Age can reveal.
GI complaints to FOS drop as workload soars in first half of 2024
While the Financial Ombudsman Service’s workload surged upwards by 43% in the first half of the year, the number of general insurance and pure protection complaints fell by 8% compared to the start of 2023, new figures have revealed.
UK commercial pricing downturn accelerates – Marsh
UK insurance rates fell 5% in the third quarter, the fastest rate of decline since the drop started at the start of 2024, according to research by Marsh.
Policy Expert owner Qmetric swings back to operating profit
Qmetric, which trades as personal lines specialist Policy Expert, returned to operating profit and pushed Ebitda into the black last financial year with turnover and customer numbers rising.
Aviva signs three-year property deal with Rokstone
Managing general agent Rokstone, part of the Aventum Group, has inked a three-year binding authority agreement with Aviva for its direct & facultative property portfolio.
Interview: Hiscox UK COO Cath Frost on delivering operational excellence for brokers
Having joined Hiscox this April UK COO Cath Frost has already seen operational improvements but there is more to come from the insurer she promises brokers.
Markerstudy confirms motor specialist Collingwood buy
A spokesperson for Markerstudy Group has confirmed that backer Pollen Street Capital, in conjunction with Markerstudy, has agreed to buy Gibraltar-based Collingwood Insurance Services.
Premium finance charges as high as 37% but dropping overall – report
Pearson Ham has found average premium finance costs for motor and home insurance fell over the last year but also revealed charges as high as 36.8%.
Home insurance stays in the red at 118% NCR with more losses to come – EY
The UK home insurance industry delivered a loss-making net combined ratio of 118% in 2023, worse than predicted with more red ink to follow in 2024, according to EY.
Beazley targets financial institutions with combined cover consortium
Specialist insurer Beazley has launched a new consortium providing combined civil liability, crime/fraud and cyber cover for financial institutions.