News Analysis
Acrisure targets drawing on strength of one infrastructure for Eleven Network
Acrisure has dialled up Ten Insurance Services to Eleven Network, promising a transparent model and “unique” offering in the sector, spanning across appointed representatives and directly authorised firms.
Axa brokers to get customer boost with Premium Credit digital system
Axa Commercial has partnered with Premium Credit to offer customers a digitally enhanced payment by instalments system, Insurance Age can reveal.
Broker Insights grows its base at £25m per month
Broker Insights is adding around four brokers to its client base, and expanding its reach by £25m each month, its CEO Fraser Edmond told Insurance Age.
Cobra CEO Tedstone aims to hit £1bn by 2025
The boss of broking network Cobra has said that it has identified a pipeline of 700 potential ‘unicorns’ as it seeks new members to meet its target of £1bn of premium by the end of 2025.
CEO Hardie anticipating Jensten sale within 18 months
“At some point in the next 12-18 months I think we will have a different investor in the business with or without Livingbridge remaining,” Jensten Group CEO Alistair Hardie has told Insurance Age.
Interview: Melissa Collett
Melissa Collett left the CII at the end of May. A champion of professionalism and customer fairness, she has some wise words for an insurance industry on the brink of change.
Interview: Paul Tasker, Reg Technologies
Paul Tasker spent his entire career working in broking, until he moved five years ago to insurtech Reg Technologies. Enjoying life in his new role, he talks about risks facing insurance firms and how Reg can help.
Applied approaching 100 Epic milestone
Applied Systems has 72 brokers live on Epic in the UK and is onboarding another 30 customers that have already been won, which will take the total to more than 100 by the end of the year, Europe CEO Tom Needs confirmed to Insurance Age.
FSCS slashes broker 2023/24 levy to zero
The Financial Services Compensation Scheme has dropped plans to charge general insurance brokers £5.3m in 2023/24 as it cut the contribution to nil.
Qlaims inks multi-year deal with Prestige Underwriting
Qlaims has signed a multiyear contract to include its cover in the Prestige Underwriting Coverall household policy, Insurance Age can reveal.
MGA criticises minimum GWP commitments as broker trading ‘barriers’
NBS Underwriting has said minimum gross written premium commitments ‘place barriers’ in trading and make life ‘difficult’ for brokers, and vowed not to use them.
FCA posts improved SMCR approval times but AR permissions still lagging
The Financial Conduct Authority has revealed the average days taken in 2022-23 to process five key authorisations that affect brokers were within its target timeframes, but there is further to go to hit the statutory requirement for 100% of cases.
Government planning to limit non-compete clauses to three months
The government has issued a policy paper setting out plans to bring in legislation limiting non-compete clauses in employment contracts to three months.
Zurich partners with brokers on digital risk management system
Zurich UK has launched a digital risk management system to give firms real-time visibility of the risks they face, Insurance Age can reveal.
Brokers raise concerns about FCA’s regulatory and compliance burden
In roundtables hosted by Zurich and the APPG for Insurance and Financial Services, brokers flagged their concerns about the regulatory and compliance burden created by the Financial Conduct Authority and claimed it is affecting the financial resilience…
Premium Credit makes 54.7% profit margin in ‘strong’ 2022 results
Premium Credit CEO Tara Waite said the firm had a ‘strong’ set of results after it continued to expand even further on its profit margins.
Bspoke Group strikes first acquisition after rebrand
Bspoke Group has bought Miramar Underwriting in its first deal since rebranding from UK General last month, Insurance Age can reveal.
Middle hails organic growth at Ageas in long-term broker personal lines strategy
“We are growing organically in the continuing personal lines business. The go forward business,” Ant Middle, Ageas UK CEO has told Insurance Age.
FCA survey data tracks 13% of consumers cut back on insurance due to cost-of-living crisis
More than six million people cut or cancelled insurance cover in the six months to January 2023 to save money in the cost-of-living crisis, the Financial Conduct Authority has calculated.
Peter Cullum says there is 'less private equity' capital around as his firm nears £200m GWP
The Broker Investment Group founder Peter Cullum has revealed that his business is on target for £200m gross written premium.
Aviva boss David Martin on empowering branches for brokers and delivering growth
Aviva delivered 200 authority and licence changes for underwriters dealing with brokers in just the first quarter of 2023, as it pushed ahead on empowering branches, managing director of UKGI distribution & SME David Martin has told Insurance Age.
MGAA to survey members on two-year plan as trade body reaches 200 milestone
The Managing General Agents’ Association will be opening a survey for members next week to help create the next two-year strategic plan for the trade body, CEO Mike Keating has confirmed.
Biba CEO White: FCA needs to act on broker regulatory burden
The Financial Conduct Authority has been urged to reduced the “unacceptably high” regulatory burden faced by insurance brokers.
AssuredPartners picks up specialist broker InEvexco
AssuredPartners has bought Kent-based event specialist broker InEvexco.