Insurer
FCA cracking down on home and motor insurers
The Financial Conduct Authority has warned insurers about the support provided to struggling customers.
LMG unveils Futures Academy to boost under 30s working in specialty insurance
The London Market Group has announced that the EC3 insurance community will host its first 'Futures Academy', providing a fortnight of industry insights for more than 100 Year 12 students.
Ecclesiastical targets leisure venues in growth drive
Ecclesiastical is launching a new leisure product as part of its plans to double the size of the business.
People Moves: 26 – 30 June 2023
Stay in the loop with the latest insurance personnel moves.
Larger brokers help drive 139% turnover boost at Winn Group
Winn Group has posted 139% turnover growth for the year ended 31 March 2023, driven by its increasing traction with larger brokers.
Up-for-sale capacity provider Accredited’s profits soar despite group loss
Accredited, one of the major capacity providers to managing general agents in the UK, has reported a 76% rise in gross written premium to $1.8bn (£1.4bn) in 2022.
FCA orders DLG to compensate any customers short-changed on total loss motor claims
The Financial Conduct Authority has ordered Direct Line Group to compensate any customers who have been short-changed on settlements for their written-off vehicles.
Acturis grows revenue and R&D spend in 2022
Acturis has reported an 8.4% rise in revenue for 2022 to £121.33m as it continued to gain market share, adding new brokers and insurers.
New insurtech aims to ‘revolutionise’ non-standard motor broking
A new insurtech named Kwoter aims to ‘revolutionise’ insurance broking in non-standard risks.
Arch names Starkie as Manchester branch manager
Arch Insurance’s UK regional division has appointed Janine Starkie as branch manager in Manchester with immediate effect.
MGAA names Signature Underwriting as 200th member
The Managing General Agents’ Association has named niche motor hire specialist Signature Underwriting as its 200th MGA member.
CDL grew turnover in 2022, but profit slipped as R&D boosted
CDL has reported a 3.56% rise in turnover to £55.68m for the year ended 30 September 2022.
PRA warns insurers on claims inflation and under-reserving
The Prudential Regulation Authority has written to insurers flagging the need to monitor the hit to reserves from ongoing claims inflation and act accordingly.
Lemonade gets UK carrier licence from PRA
The Prudential Regulation Authority has granted insurtech Lemonade a UK carrier licence.
People Moves: 19 – 23 June 2023
Keep up to date with the latest insurance personnel moves.
Allianz promotes Nick Hobbs to UK chief distribution officer
Allianz has appointed Nick Hobbs as chief distribution officer for Allianz Commercial in the UK, Insurance Age can reveal.
A ‘moral commitment’ - Aon and Lloyd's partner to help Ukraine
Aon and Lloyd’s have partnered with an insurer to support Ukraine firms and ‘restore well-being’ to the war-ravaged nation.
Saga reveals fall in broking policy sales
Over-50s specialist Saga has reported a 7% drop in home and motor insurance policy sales in its broking division despite customer retention ticking up from 83% to 85%.
Intelligent AI platform targets closing commercial property underinsurance gap
InsurTech Intelligent AI has launched its Intelligent Rebuild Cost Validation Platform, designed to address the long-standing challenge of underinsurance in the commercial property market.
Aviva leader Blanc and Marsh McLennan UK boss Lay detail top risks facing UK firms
Aviva CEO Amanda Blanc and Marsh McLennan UK CEO Chris Lay have detailed the top risks facing UK firms.
HNW underinsurance an increasing concern for brokers
Research by Ecclesiastical has revealed that a growing number of brokers believe there is a problem with underinsurance in the high-net-worth market.
Blink partners with broker on parametric travel cover
Blink Parametric and Lloyd’s broker Newpoint Insurance Brokers have partnered to launch a suite of bespoke online travel insurance products using a real-time parametric flight delay solution for eligible travel insurance policyholders.
GRP owner Brown & Brown adds ex-Hiscox boss Bronek Masojada as board director
US broking giant Brown & Brown has appointed former Hiscox CEO Bronek Masojada as a non-employee director on its board.
Blog: Homing in on high-net-worth claims
Quality service, especially for claims, should not be lost in any efficiency drive when it comes to expansion in the high-net-worth space, warns Simon Loerns, director of specialist services at Woodgate & Clark loss adjusters.