News
MCE commits to AI underwriting
The specialist motorcycle broker is using artificial intelligence to provide precision pricing and bundle quote, policy and claims data.
People Moves: 22 - 26 February 2021
Stay up-to-date with the latest personnel change in insurance.
WTW and Liberty Specialty Markets launch reputational crisis product
The proposition enables transfer of financial risk and is powered by AI data analysis.
Consolidators running out of M&A targets
IMAS analysis highlights “sobering conclusions” for buyers as potential targets diminish but broker M&A still reports record year in 2020.
Zurich takes stake in MyPolicy
The provider has also joined the panel of the analytics and telematics specialist.
Broker wordings behind Allianz's Covid-19 BI claims hit
UK CEO Jon Dye discusses the business interruption test case and why communication with brokers is critical, after Allianz revealed its total impact of Covid-19 BI claims in 2020 was £175m, net of reinsurance.
Mike Bruce lifts lid on GRP’s Marsh Networks deal
Bruce discusses growth plans for the networks business, what members will see differently following the acquisition and how GRP plans to add some “extra oomph” to the proposition.
Aston Lark reveals two fresh deals
The acquisitions will add £50m in annual premium income to Aston Lark, which says it is now set to become one of the biggest private medical insurance brokers in the UK.
LV confirms 300 redundancies following L&G takeover
CEO Steve Treloar explains the consultation process is now complete after the provider last year put up to 600 roles from across LV and L&G at risk as part of a restructure.
Allianz nears £4bn in GWP
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
Analysis: Are we moving towards market failure for high-rise buildings?
PI and property rates were hit hard following the Grenfell fire horror. Martin Friel investigates the wider insurance implications but is met with deafening silence from providers as brokers sound the alarm.
Rock develops underwriting agency to target brokers
Tigon focuses on travel and Covid-19 cancellation cover as Rock seeks to diversify.
"Bold move" for GRP as it buys Marsh's UK Networks business
The takeover, which includes Marsh ProBroker, Bluefin Network and Purple Partnership, will see David Hopwood continue to lead the combined networks business as part of the GRP executive team, as group CEO Mike Bruce promises there will be no redundancies.
MD for Arch Managing Agency revealed
Louis Tucker takes on the role with immediate effect, moving across from parent company Arch Insurance International.
BLW boss Brett Sainty joins Biba advisory board
Sainty joins the International and Wholesale Brokers’ Advisory Board, which provides advice and counsel on matters affecting international and wholesale market brokers and acts as a sounding board to the main Biba board.
Meeting private equity: Tom Elliott, Bowmark Capital
Private equity is driving an M&A boom in UK broking but often we don't know who is behind it. Insurance Age gets to know the key figures.
Peter Hubbard exits Be Wiser
The move follows staff at the motor broker being put under consultation last week.
Eldon/Leave EU ICO fine appeals dismissed
The broker, now known as Somerset Bridge, still faces a fine of £60,000 and the Leave organisation, which campaigned for Brexit, faces a £45,000 fine.
FCA and insurers disagree on how to interpret Supreme Court BI ruling
Regulator says Supreme Court decision gives insurers the clarity they need to conclude their claims processes with most of their BI customers but a few issues still remain as parties make written submissions to the Supreme Court.
Ardonagh makes Australian move
Resilium, a network with 150 ARs across Australia, has joined the consolidator.
Gauntlet looks to sign up more ARs with new de-authorisation proposition
The offering is aimed at smaller brokers struggling to cope with the Covid-19 lockdown and sees Gauntlet taking over responsibility for IT, compliance and client money handling.
Beazley launches media production contingency suite
The products are designed to protect producers against the risks that can cause films, TV and other forms of programming to be called off or delayed.
Simply Business teams up with Equipsme for health plan push
Simply Business has partnered with insurtech MGA Equipsme to allow its customers to directly purchase health insurance plans online for the first time.
Interview: Willis Insurance and Risk Management
Managing director Richard Willis tells Ida Axling about the broker’s acquisition and growth plans and reveals the thinking behind launching a new MGA offering.