Insurer
Nexus rebrands as Kentro
Nexus Underwriting, an independent specialty managing general agent (MGA) in the London market, and Xenia Broking, a insurance and surety distribution specialist, will operate as distinct, independent brands under the Kentro holding company.
Profits up at Ageas UK but income and COR slip in 2021
Insurer saw growth in home business but motor gross written premium fell to £676.5m.
Industry pulls together to mitigate flood risk
The British Insurance Brokers’ Association, the Association of British Insurers, and Flood Re have launched a Flood Insurance Directory to help customers access flood cover.
ABI pledges to double apprenticeships by 2025
The organisation has committed to offering 2,500 apprenticeships over the next three years and increasing inclusivity across the sector.
Aviva confirms London HQ office search
Provider commits to staying in the heart of the City.
MGA Lares launches unoccupied property product
The product is available to brokers via the Go-Insur digital insurance platform.
QBE International improves COR to 90.6%
The insurer’s international division, which includes the UK, posted a 15% increase in gross written premium for the full year 2021.
M&A activity not 'sustainable', says IMAS founder Laughton-Scott
Prices are forecast to remain "pretty firm" this year.
Allianz focused on growth in 2022, says Holmes
Insurer posted a 9.4% rise in operating profit to £318m for 2021 but recorded a 3.2% fall in gross written premium to £3.8bn.
Axa launches EV fleet product
The insurer cited an increase in electric vehicle sales and the ability to offer a greener fleet option to businesses among the reasons for the move.
Allianz posts improved operating profit for 2021 but GWP slips
The provider reported a 3.2% decrease in GWP to £3.8bn.
Insurer payments for settled BI claims top £1bn
Providers have also made £307.9m in initial payments, according to the latest figures from the Financial Conduct Authority which is set to end its data releases next month.
Ex-Allianz boss Jon Dye joins Hiscox as UK CEO
Dye left Allianz last November and will start at Hiscox in September.
Blog: What is JCT 21.2.1 insurance, and who needs it?
Tokio Marine HCC’s head of liability, Julian Goodall, considers the snappily-named clause developed to iron out liability issues in construction.
Axa buys Ageas commercial business renewal rights for £47.5m
Around 100 Ageas employees will move to Axa as part of the deal.
High Court rules against Marshmallow on Toba breaches and confidential information misuse in Mulsanne case
The judge has not ruled on compensation with this case focused solely on liability.
People moves: 14-18 February 2022
Keep up to date with the latest people moves in the insurance space.
CII London Market New Generation group pushes for innovation
A report by the Chartered Insurance Institute’s New Generation London Market group has concluded if the insurance profession does not learn lessons from the pandemic and innovate it could soon no longer meet the public’s needs.
Analysis: Balancing risk and opportunity in the metaverse
Insurance Age spoke to industry experts to find out how the metaverse is changing the risk landscape and what opportunities it offers brokers and insurers alike.
Brit turns loss to profit in latest results
The provider also reported a 32% increase in GWP, going from $2.4bn (£1.87bn) in 2020 to $3.2bn (£2.4bn) for the year ended 31 December 2021.
Beazley reports "robust" profit in 2021 results
The provider turned a $50.4m (£37.1m) into a pre-tax profit of $369.2m (£272.1m) for the year ended 31 December 2021 while also seeing its GWP shoot up by 30%.
Zurich UK reports £470m operating profit
The provider reported that the UK business grew 13% in its P&C division.
People moves: 7-11 February 2022
Keep up to date with the latest moves from the insurance space.
Blog: The key to rebuilding trust
Ecclesiastical’s Adrian Saunders considers how the insurance industry can win back customer faith.