News
Lloyds Banks’ LDC takes stake in Uinsure
LDC, the private equity arm of Lloyds Banking Group, has invested in Top 100 Broker Uinsure.
GAP insurers suspend sales after FCA concerns on fair value
Insurers covering 80% of the guaranteed asset protection market have agreed to pause sales after a request from the Financial Conduct Authority, the regulator has confirmed.
CFC creates team focused on tax related M&A transactions risks
CFC has established a specialist team to focus on underwriting tax risks connected to merger and acquisition transactions.
MGA to branch out with new life sciences Lloyd’s launch
Asta, through its third-party managing agency at Lloyd’s, has received “in-principle” approval for a new syndicate-in-a-box to deliver a product that aims to accelerate the development of new therapeutic drugs.
People Moves: 5 – 9 February 2024
Stay in the loop with the latest insurance personnel moves.
Prestige expands Northern Ireland presence with Find Insurance NI buy
Prestige Insurance Holdings has completed the purchase of Find Insurance NI as part of a growth strategy to increase its reach and expertise in the Northern Ireland marketplace.
Aviva deal probed by CMA
The Competition & Markets Authority has opened an investigation into the anticipated acquisition by Aviva of AIG Life.
Home premiums up 4% in Q4 2023 – ABI
The average price of home insurance rose 4% in the fourth quarter of 2023, according to the latest Household Premium Tracker from the Association of British Insurers.
House of Lords call for urgent reform of UK regulators
A House of Lords committee has raised concerns over the role of UK regulators, and claimed reform is needed to improve accountability and performance.
NFU Mutual appoints Zoe Knight as first head of commercial
NFU Mutual has named Zoe Knight as its first head of commercial as the insurer looks to push forward in the commercial market.
WTW reports 10% organic broking growth in 2023
WTW has confirmed 10% organic growth in its risk and broking division last year, an improvement on the 3% achieved in 2022.
Tokio Marine to acquire MGA brand and staff from Marsh
Tokio Marine HCC International has reached an agreement with Marsh Specialty UK to onboard certain employees of Lavaretus Underwriting.
Polaris reveals 21% imarket premiums surge to £394m in 2023
Insurance industry owned Polaris has revealed a 21% jump in premiums placed through its digital trading platform imarket to £394m in 2023 as policies broke through the half a million barrier.
FCA seeks data from London market firms on discrimination, harassment and bullying
The Financial Conduct Authority has written to London market and Lloyd’s insurance companies seeking information related to incidents of “non-financial misconduct”.
DLG’s Bryson to replace Mooney as RSA commercial MD
RSA Insurance has announced that Sonya Bryson will replace Lee Mooney as commercial lines managing director, effective from 1 May 2024, subject to regulatory approval.
Markerstudy weighing up Northern Ireland options as it exits short-term market
Markerstudy has confirmed to Insurance Age that it plans to withdraw from the short-term motor insurance market.
SSP Broker names Martyn Mathews MD
SSP Worldwide has appointed Martyn Mathews to the newly created role of managing director of SSP Broker.
Biba sets out triple push to government ahead of Spring Budget
The British Insurance Brokers’ Association has called for insurance premium tax cuts, increased flood defence spending and apprenticeship levy reform in the government’s Spring Budget.
Deals and organic growth boost Howden revenue to £2.44bn
Howden grew revenue by 33% to £2.44bn in the year ended 30 September 2023 on the back of 56 acquisitions and 13% organic growth.
Brown & Brown buys Kent-based Stewart & Partners
Brown & Brown has bought out Oxlea Investments, trading as Stewart & Partners, to become part of its South East retail hub Green Insurance Group.
NBS launches hospitality product
NBS Underwriting has launched a multi-location hospitality insurance product.
Ardonagh in $2bn bond deal – Bloomberg
Ardonagh is launching a near-$2bn (£1.59bn) bond sale in a process led by Morgan Stanley and Goldman Sachs, according to Bloomberg.
UK commercial pricing flat in Q4 – Marsh
UK commercial insurance pricing was flat in the final quarter of 2023 having posted its first fall in years in Q3, according to the latest research by Marsh.
Ardonagh Advisory boosts Scottish presence
Ardonagh Advisory has purchased Glasgow-based Solutions Healthcare, a whole-of-market healthcare insurance broker.