News
Premium finance market warned of serious consequences amid latest FCA concerns
The premium finance market is being warned it faces serious regulatory consequences after the Financial Conduct Authority issued yet more concerns about industry practices.
Brokers confident in commercial motor growth but have capacity concerns: survey
A survey has revealed that 83% of brokers do not believe there are enough specialists or insurers offering capacity for the haulage, waste disposal and courier markets.
Clear completes hat-trick buying Bluestone in Cirencester
Clear Group swooped for its third deal in September buying Bluestone Insurance Services to boost its presence in the South West.
Arkel Underwriting targets landlord growth with Applied expansion
Arkel Underwriting has rolled out its landlord product, Premier Let, on Applied Systems in its second partnership with the software provider in a matter of months.
MGAs urged to check on capacity partnerships amid Vesttoo fraud scandal
Managing general agents and carriers are being urged to carry out 'robust and periodic due diligence' following the Vesttoo insurtech scandal.
HSB broker research pinpoints computer cover gap
A poll of insurance brokers by HSB has suggested that two-thirds of businesses are not considering computer insurance risks arising from evolving working practices.
Regulators consult on measures to boost D&I in financial services
The Financial Conduct Authority and the Prudential Regulation Authority have released consultation papers setting out proposals to boost diversity and inclusion to support healthy work cultures, reduce groupthink and unlock talent.
Aviva boosts UK SME and HNW proposition with £460m AIG Life swoop
Aviva has bought AIG Life from Corebridge Financial, a quoted subsidiary of American International Group, for £460m.
MGA Iprism notches up second post-MBO buy with SK deal
Managing general agent Iprism has bought property specialist SK Underwriting for an undisclosed fee.
R&Q in ‘advanced’ talks for sale of Policy Expert capacity backer Accredited
R&Q Insurance Holdings has admitted that it is in advanced discussions with Canadian investment business Onex for the sale of its fronting business Accredited.
Park Insurance launches formal apprentice programme
Bristol-based Park Insurance has rolled out its first formal broker apprentice programme open to recent school leavers and those with work experience in other areas looking to move their career in a new direction.
People Moves: 18 – 22 September 2023
Keep up to date with the latest personnel moves in insurance.
Interview: Mike Latham, Verlingue UK
Verlingue is a French broker that took off in the aftermath of the Second World War. Following publication of its latest financial results, UK CEO Mike Latham explains why the family-owned business is a steady generational business that has clear and…
Ripe Thinking notches up first buy with boat insurance specialist
Insurtech broker Ripe has completed its first acquisition by snapping up specialist boat insurance provider, Craftinsure.
PIB targets underwriting and schemes growth with cross-divisional CEO
PIB Group has appointed Charles Burgess as CEO for underwriting and schemes.
FCA hammers GAP insurance as it issues general warning on high commission levels
The Financial Conduct Authority has written to insurers, calling on them to take action, as it released the latest set of fair value data and again brought the spotlight onto the issue of high commission levels.
Brown & Brown Europe to buy Occam Underwriting
Brown & Brown Europe, recently rebranded from Global Risk Partners, has signed up to buy 100% of space and terrorism specialist managing general agent Occam Underwriting.
Majority of brokers using AI on a daily basis – RSA survey
Four in five brokers are already using artificial intelligence on a daily basis – and almost half see the potential benefits, but are also aware of the challenges it poses.
Hiscox targets brokers in brand campaign
Hiscox has unveiled a nationwide brand campaign including broker-focused bespoke content for local markets.
Products: September 2023
Recent product launches target solicitors, sustainable builders, construction sector and employers concerned by internal fraud and scams.
Cardiff City settles with Miller in legal action over footballer’s plane crash death
Cardiff City has settled with Miller Insurance Services after suing the broker for £10m following the plane crash death of striker Emiliano Sala.
‘Investing in small brokers’ – Clear snaps up Kent property owners’ specialist
Clear Group has snapped up Kent-based broker Miles Archer as its latest acquisition.
E-trading can thrive, but not at the expense of access to underwriters – Arch
Digital e-trading can thrive, but it can’t be at the expense of broker contact with underwriters, according to Vicky Rowley, national director of business transformation at Arch Insurance.
Greenwood Moreland lands biggest deal since JMG Group-backed MBO
Greenwood Moreland has added to its presence in Scotland with the purchase of Glasgow-based Calcluth & Sangster Insurance Brokers.