News
Aon post 5% commercial organic growth for 2023
Aon has reported 5% organic growth in its commercial risk solutions business to $7.04bn (£5.52bn) in 2023 as profits across the global giant slipped year-on-year.
The AA buys Keycare
The AA has purchased Key Care, the household and motor key insurance specialist.
Voyager snaps up specialist travel broker
Voyager Insurance has completed the purchase of Norwich-based specialist broker Navigator Travel Insurance.
AM Best sees positive implications for Folgate rating after Hadron deal
AM Best is reviewing the ratings of Folgate Insurance after the takeover by Hadron, flagging Folgate is expected to be “strategically important” to the US hybrid carrier.
People Moves: 29 January – 2 February 2024
Keep up to date with the latest insurance personnel moves.
US insurer Hadron enters UK market with Folgate takeover
Hybrid carrier Hadron, which launched in 2023, has bought Folgate Insurance Company for an undisclosed sum.
Clear buys HNW broker Porticus
Clear Group has bought London-based high-net-worth specialist broker Porticus Insurance Consultants in its first deal of 2024.
Jensten strikes first deal of 2024 with Home Counties buy
Jensten has bought community broker Melville Burbage, its first deal of 2024.
JMG Group’s Astute makes first buy with property specialist
Astute Insurance Solutions has bought property specialist Sandhouse Insurance in its first deal since becoming part of JMG Group in 2022.
CMA launches investigation into Markerstudy acquisition of Atlanta
The Competition & Markets Authority has launched an investigation into the acquisition of Ardonagh-owned Atlanta by Markerstudy.
RSA launches resource hub for broker profin clients
RSA Insurance has launched a bespoke online resource hub to help broker clients protect and manage their business.
Aviva boosts group accident and travel products with wellbeing package
Aviva has added mental health support to its group personal accident and business travel products in a move it labelled “a first for the industry”.
Gracechurch awards regional claims Service Quality Marque to insurer trio
Independent insurance research consultancy Gracechurch has awarded its Service Quality Marque to Allianz, Chubb and Ecclesiastical for UK regional claims.
Ardonagh strikes deal to sell Robus to Strategic Risk Solutions
Ardonagh has agreed to sell captive and insurance management group Robus to insurance company manager Strategic Risk Solutions.
Howden buys AHR Consultants
Howden has bought Rugby-based AHR Consultants, bolstering its risk management capabilities in the UK.
NBS launches excess of loss liability insurance
NBS Underwriting has launched excess of loss liability insurance in a move it flagged enables brokers to offer an additional £5m of public liability cover beyond primary level limits.
Administrators appointed at insurtech Humn after sale fail
Commercial motor insurtech Humn has appointed administrators after a failed Series B fund raise and aborted efforts to sell its assets.
Benefact Group adds Access Insurance
Specialist charity broker Access Insurance has joined the Benefact Group as the latest addition to the growing broking and advisory division.
Howden claims “first of its kind” with carbon capture and storage insurance facility launch
Howden has launched a product that it claimed will “unlock vital investment to support the global transition to net zero”.
Gallagher hails 8% Q4 organic growth in retail
Gallagher grew UK and Ireland retail business by 8% organically in the final quarter of 2023, while the specialty division achieved a 16% organic uplift, the broker has confirmed.
People Moves: 22 – 26 January 2024
Follow the latest insurance personnel moves.
Revenue up 8% at Marsh in 2023
Marsh boosted annual revenue by 8% to $11.38bn (£8.94bn) in 2023, as profits at parent Marsh McLennan grew.
Nick Harris to leave Marsh
Nick Harris is no longer taking up the role as CEO of UK retail and will be leaving the broker.
Ardonagh-owned Price Forbes launches real estate and legal indemnity practice
Price Forbes, part of Ardonagh Specialty, has launched a real estate and legal indemnity practice led by managing director of real estate Mark Manwaring.