Insurer
Axa UK & Ireland looks to Aviva for new CRO
Axa UK & Ireland has appointed Rahul Gumber as chief risk officer, subject to regulatory approval.
People Moves: 2 – 6 September 2024
Follow the latest insurance personnel moves.
Allianz reveals rise in cloned businesses motor fleet fraud attempts
Allianz UK has reported a “marked increase” in fake or cloned businesses claims coming through in the first half of the year, as it also highlighted strong collaboration with brokers has further heightened fraud awareness and detection.
Commercial Express launches tattoo and body piercing product
Commercial Express has launched a tattoo and body piercing product, giving brokers access to a customisable package product.
HDI Global leader Stephanie Ogden reveals UK & Ireland exec team
Newly appointed CEO for HDI Global’s UK and Ireland business, Stephanie Ogden, has unveiled her new executive team.
Interview: Coalition’s Tom Draper on doubling in cyber with brokers
Cyber specialist insurer Coalition has grown to 32 people in the UK working with over 5,000 insurance staff in brokers across the country since going live in 2022, and is looking to expand again with a network of regional underwriting hubs, according to…
Blog: The integration of NIG into RSA – moving towards a unified market presence
A year ago, RSA reached an agreement with Direct Line Group to acquire its brokered commercial lines operations, including NIG and FarmWeb. David Enoch, distribution and proposition director at the insurer, gives an update on the progress since then.
Coalition to set up regional underwriting hubs
Coalition has recruited Philip Cruickshank from Aon as a regional development underwriter based in Manchester, as it embarks on creating a series of hubs in the country, Insurance Age can reveal.
TMHCC combines event cancellation and cyber cover
Tokio Marine HCC has launched a malicious cyber event extension to its cancellation product available through its Lloyd’s syndicate and HCC International Insurance.
Clear buys Accelerate Underwriting
The Clear Group has made its fourth managing general agent acquisition, snapping up Accelerate Underwriting.
SRG adds to MGA offering with Capulus
Specialist Risk Group has purchased Capulus, a specialist motor fleet managing general agent, based in Wales, and will build out SRG's MGA MX which was launched in December 2021.
The stats: Q2 2024 – Commercial combined and combined liability premiums fall for first time in three years
The smallest index movement since Q2 2021 suggests the commercial lines market is starting to become more competitive again, as Ida Axling reports.
Alps teams up with Fortega on GAP sales
Fortegra Europe Insurance has partnered with Alps for the distribution of Guaranteed Asset Protection insurance.
Dual UK buys MGA International Passenger Protection
Dual UK has signed up to buy managing general agent International Passenger Protection, which provides cover against insolvency of travel operators or other related suppliers.
MGA Arkel secures £25m of new Lloyd’s capacity
Arkel has secured an additional £25m delegated authority binder with Axis for landlords’ let property.
MGA expands into transactional liability following first acquisition
Rising Edge has signed an agreement to acquire AMANIKI GmbH enabling the MGA to launch a suite of transactional liability insurance products.
Blog: Going back to school to solve the broking skills crisis
Brokers could play an important role in plugging the skills gap in insurance with early educational efforts. Martyn Mathews, MD of SSP Broker, explains.
People Moves: 26 - 30 August 2024
Keep up to date on the latest personnel changes in insurance.
Axa reveals 106.3% UK COR for 2023
Axa Insurance UK has posted an improved 106.3% combined operating ratio for 2023, trimming it from 109.8% the year before.
Ageas Retail revenue ticks up as profit rebounds
Ageas’ wholly owned broking subsidiary Ageas Retail grew post-tax profit by 20% in 2023 to £6.5m, switching back to growth after declining in 2022.
Loss adjusters in spotlight as FOS buildings insurance complaints hit 10-year high
The number of buildings insurance complaints filed to the Financial Ombudsman Service hit a record quarterly high of 2001 between April and June.
Motor FOS complaints stable in Q1 as ombudsman’s workload surges
Car and motorcycle insurance complaints to the Financial Ombudsman Service rose fractionally to 3,940 in the first quarter of the financial year as the overall workload soared by 70%.
Market Movement Index: Smaller insurers gain market share from re-broking
New research from Broker Insights shows brokers are placing more business with smaller players, resulting in a changing landscape where competition can thrive. Rachel Gordon reports.
Ageas delivers 49% growth in UK premiums
Ageas boosted UK gross written premiums by 49% in the first half of 2024 to €992m (£835m) citing customer growth and rate increases primarily in motor with “solid underwriting profitability”.