News Analysis
Manchester, Liverpool and the buoyant North West are under the spotlight
As we put Covid-19 behind us, Sophie Locke-Cooper discovers brokers in the North West are positive about the prospects of the local market despite worldwide economic challenges such as inflation and UK-wide issues such as recruitment and talent retention.
Biba seeking new HNW schemes provider due to Home & Legacy closure
The British Insurance Brokers’ Association is searching for a new high-net-worth schemes provider, and will be ‘seeking tenders from alternative providers’ in light of Allianz planning to put Home & Legacy into run-off.
News analysis: What impact has the rising cost of borrowing had on broking M&A?
The broking sector has continued to see significant activity when it comes to mergers and acquisitions despite potential barriers such as Covid-19 and a dwindling number of larger targets. Ida Axling asks whether inflation and rising interest rates might…
Howden Group posts M&A cash spend
Documents show how much the broking group spent in cash on UK deals, including Aston Lark and A-Plan.
Das LEI posts £7.3m loss but swings back to underwriting profit
Das Legal Expenses Insurance Company has reported a comprehensive loss of £7.3m for 2022 driven by its investment performance, as the insurer grew and returned to underwriting profit.
Allianz to close Home & Legacy
Allianz is to put mid and high net worth specialist Home & Legacy into run-off, Insurance Age can reveal.
In conversation: Broker Diversity Push
Insurance Age met up with the leaders of Biba, the MGAA and Liiba for the Broker Diversity Push campaign to expand on the support and practical assistance being provided to members and widen the discussion on this crucial topic.
Starting up a broker can cost as little as £50,000 – WTW networks
Willis Towers Watson Networks believes brokers can start up for as little as £50,000.
Minimum GWP commitments divides broker opinion as MGA makes request
Aqueous Underwriting is asking brokers for a new minimum commitment in premium, promising top quality service in return.
Biba urges Government to bring forward ban on sharing property commission
The British Insurance Brokers’ Association urged the Government to bring forward legislation to ban the sharing of commission with property managing agents, freeholders and landlords to create a ‘level playing field and avoid an early mover penalty’.
Rebranded UK General eyes acquisitions following private equity boost
Bspoke Underwriting is looking selectively at acquisitions that can ‘add value’, says chief executive Tim Smyth.
Direct Line acquires By Miles
Direct Line Group has acquired By Miles, the insurtech managing general agent and provider of real-time pay-by-mile insurance policies.
Peter Blanc to oversee £1bn M&A warchest in new Howden role
Peter Blanc will oversee a £1bn warchest in his new role as head of mergers and acquisitions at Howden.
Education and client conversations key to reducing underinsurance in the HNW space
The high-net-worth sector is playing catch up in making sure clients are not underinsured as a result of the Covid-19 pandemic pause on site visits – and policyholders are having building work done on their properties and possessions accruing more value.
Movo unveils MGA and rolls out Quote Portal as targets grow with start-ups focus
Movo will launch its managing general agent Moveda Underwriting on 1 May, upping its appointed representative network target to 120 next year. It also rolled out Quote Portal, managing director Lea Cheesbrough told Insurance Age.
FCA’s Brewis: brokers key to helping curb unjustifiable freeholder commissions
The Financial Conduct Authority recommended insurance brokers interrogate property managers more to justify their commission with the publication of its latest paper on multi-occupancy buildings insurance.
Brokers need to get on the front foot and mirror fee increases of lawyers and accountants
Brokers should follow the lead of other professional services and not be sheepish when it comes to putting up client fees to reflect the value they add.
Brokerbility refreshes proposition to build back better
Brokerbility has launched a five-band framework as it seeks to grow its community of brokers, Insurance Age can reveal.
Covéa jobs at risk amid £145.5m loss
Covéa has been hit by an ‘unprecedented’ series of events leading to a £145.5m loss in 2022.
Aviva still weighing up Lloyd’s re-entry as part of GCS strategy
A Lloyd’s market re-entry is still under consideration by Aviva, according to its CEO of UK & Ireland general insurance, Adam Winslow.
PIB buys Bristol-based PI broker Pure Risks
PIB Group has acquired specialist professional indemnity insurance broker Pure Risks.
Miller CEO targets growth at ‘greater pace’ as revenues top £200m
Lloyd’s broker Miller has marked its second anniversary as an independent broker with revenues breaking through £200m, it announced today.
GRP buys West Midlands broker
Global Risk Partners has acquired 100% of the share capital of Thompson and Co (Risk Solutions) Holdings.
Is the MGA motor market braced for casualties amid a perfect storm?
Motor MGAs are suffering as they battle high claims inflation and tougher reinsurance conditions. With more players expected to exit standard motor, Saxon East asks if there is any way the market can navigate this tough terrain?