Insurer
MGAA boss Keating weighs in as broker survey backs dedicated MGA regulation
A recent survey of insurance brokers has shown backing for the establishment of a dedicated regulatory framework for MGAs, with 68% agreeing that the Financial Conduct Authority should regulate MGAs separately from insurers and brokers.
Peach and Alan Boswell partner on complementary therapy scheme
Peach and Alan Boswell Group have struck their second partnership as the Top 100 Broker aims to grow its bespoke scheme for complementary therapists.
Meet the MGA: Elmlake Underwriting
A seasoned professional indemnity underwriter, Darren Galloway, managing director of new MGA Elmlake Underwriting, explains how it plans to fuse both traditional and modern approaches to offer a one-stop shop for brokers and their clients.
Aviva Broker Community Fund shares £235,000 with 28 good causes
Aviva has announced the 28 winners of the 2024 Aviva Broker Community Fund sharing a pot of £235,000.
People Moves: 10 – 14 March 2025
Follow the latest personnel moves in insurance.
Zurich fraud detection rises to £94m
Zurich UK uncovered £94.79m of fraudulent claims in 2024, around £260,000 per day.
In Depth: How can brokers future-proof their placement strategies?
Aligning risks properly with the appetite of insurers and MGAs is key to maximising the effort and time brokers spend with their placement strategies. Edward Murray explores how this can also mitigate issues should an agency be withdrawn.
Experts respond to FCA shelving ‘flagship initiatives’ on enforcement, D&I and non-financial misconduct
The Association of British Insurers has welcomed the Financial Conduct Authority’s decision not to push ahead with enforcement investigation publicity plans, also known as ‘name and shame’.
FCA scraps D&I rules plan and delays non-financial misconduct update
Regulators have ended work on proposed rules and expectations aimed at improving diversity and inclusion in regulated firms.
FCA u-turns on enforcement transparency proposals
The Financial Conduct Authority is not going ahead with changes to announcing enforcement investigations, proposals that were labelled ‘name and shame’ and led to a huge outcry across the financial services market.
Insurers launch dual Lloyd’s/company market stamp capacity for brokers
Lloyd’s insurer MS Amlin and its sister company Mitsui Sumitomo Insurance Company (Europe) (MSIG UK), have announced plans to expand their London Market footprint with the launch of a new dual-stamp underwriting capability.
MGA launches mid-market cyber product
Cyber manging general agent Onda has launched Onda X, a new product that supports mid-market companies in the UK and France.
Direct Line shareholders sign off on Aviva takeover
Shareholders of Direct Line Group have given overwhelming backing to the Aviva takeover by voting in favour of the proposal at its annual general meeting.
Lloyd’s sets scene for full-year results as COR ticks up to 86.9%
Lloyd’s has unveiled a combined operating ratio of 86.9% for 2024, with gross written premium rising to £55.5bn, in a trading update ahead of its full results later this month.
The stats: Q4 2024 – Premium growth continues, but at a slower pace
The Acturis Commercial Broking Index reveals further premium increases at the end of the year, but experts predict the market is set for softening in 2025. Ida Axling reports.
People Moves: 3 – 7 March 2025
Keep up to date with the latest insurance industry personnel moves.
Aviva launches enhanced CCI offering, creating dedicated team
Aviva has made enhancements to its digital commercial combined insurance (CCI) proposition, in response to broker feedback that it can be challenging to place more complex risks online.
Admiral CEO warns of ‘uncertain’ 2025 after Ogden boosted UK profit
Admiral saw its UK profit rise by 64% to £977m in its 2024 results, with the insurance group attributing 17% to the change in the Ogden personal injury discount which improved to 0.5% last year.
Bolt-on deal sealed by Bspoke, with more to come, says Smyth
Bspoke has completed a bolt-on deal and has a “fair bit” of ongoing activity, group CEO Tim Smyth told Insurance Age.
Beazley posts record profit as premium tops $6bn
Beazley has reported insurance written premiums jumped 10% to $6.16bn (£4.84bn) for the year ended 31 December 2024.
Aviva-bound DLG swings back to operating profit but customer count falls
Direct Line Group has reported an operating profit of £205m for 2024, more than reversing a £189.9m loss the year before.
Aviva gives e-trade brokers commission flex up to 35%
Aviva has written to brokers that use its own e-trading platform Fast Trade – as well as Acturis E-Trade – telling them they can set their own commission rates within set parameters, Insurance Age has learned.
Markel appoints Nicola Cunliffe to drive broker trading
Markel has named Nicola Cunliffe as head of trading in the UK, with responsibility for brokers’ experience when dealing with the insurer.
Flood Re names Perry Thomas as CEO
Flood Re has appointed Perry Thomas as CEO succeeding Stuart Logue, who has been leading the organisation on an interim basis since last August.