News
Academy Insurance updates on sale after deal fell through
Personal lines specialist Academy Insurance Services’ shareholders are going through due diligence in a sale process, according to a filing at Companies House.
HNW underinsurance an increasing concern for brokers
Research by Ecclesiastical has revealed that a growing number of brokers believe there is a problem with underinsurance in the high-net-worth market.
Gallagher NED chair Sue Langley awarded a Damehood
Gallagher UK’s non-executive chair Sue Langley was awarded a Damehood in King Charles’s Birthday Honours list at the weekend for services to both financial services and public service.
Blink partners with broker on parametric travel cover
Blink Parametric and Lloyd’s broker Newpoint Insurance Brokers have partnered to launch a suite of bespoke online travel insurance products using a real-time parametric flight delay solution for eligible travel insurance policyholders.
Biba rolls out partnership to help brokers on Net Zero journey
The British Insurance Brokers’ Association has added Flotilla Group as an associate to help support members with their own sustainability ambitions.
GRP owner Brown & Brown adds ex-Hiscox boss Bronek Masojada as board director
US broking giant Brown & Brown has appointed former Hiscox CEO Bronek Masojada as a non-employee director on its board.
Adrian Furness leaving Covéa; Georges de Macedo named CEO
Georges de Macedo has been named CEO of Covéa Insurance with immediate effect, succeeding Adrian Furness, who is leaving the business, the insurer has confirmed.
FCA issues restrictions on four insurance ARs in 10-firm crackdown
The Financial Conduct Authority has put 10 firms under restrictions for failing to meet its expectations on overseeing appointed representatives including four in the insurance industry.
Liberty Mutual keeps Hughes in near £2bn assets sale to Generali
Liberty Mutual Insurance has held on to Northern Ireland-based broker Hughes Insurance as it struck a deal to sell its personal lines and small commercial operations in Western Europe to Generali for €2.3bn (£1.97bn).
People Moves: 12 – 16 June 2023
Stay in the loop with the latest personnel moves in insurance.
Sicsic Advisory teams up with software experts for fair value product
Regulation consultancy Sicsic Advisory has teamed up with lifecycle management experts Skyjed to launch a new all-in-one product oversight and governance solution.
FOS insurance complaints rise 19.9%
The Financial Ombudsman Service opened 39,730 new insurance cases in 2022/23.
CII opens 2023 New Generation Programme for applications
The Chartered Insurance Institute is looking for the leaders of tomorrow as it opens up its 2023 New Generation Programme with a deadline for applications of 7 August.
Insurtech Lumun pivots to becoming broker and MGA
Insurtech Lumun has pivoted to starting up as a broker and managing general agent specialising in non-standard motor.
Young brokers want face-to-face trading with underwriters – Liiba survey
Young brokers want face-to-face trading with underwriters, believing it to be a major competitive advantage for the London market, according to a survey taken by the London and International Insurance Brokers’ Association.
Stubben Edge launches capital arm
Stubben Edge Group has launched a capital arm that it claims will help brokers grow.
Buyers circle up-for-sale UK motor capacity provider Accredited
Accredited is in a sale process with a number of buyers interested in purchasing the business, owner R&Q has confirmed.
Brightstar launches insurance broker Solstar
The Brightstar Group, predominantly a mortgage intermediary business, has launched an insurance brokerage which offers advice direct to clients and a referral service for mortgage brokers.
Oxbow Partners forecasts motor market COR of 106.1% in 2023 and 100% in 2024
Oxbow Partners has predicted a combined operating ratio for the UK personal lines motor market of 106.1% in 2023, improving to a break even point of 100% in 2024.
Broking success: Retaining independence and recruiting fresh talent
Richard Ingleby, managing director of Castlemead Insurance Brokers, highlights the importance of independent intermediaries and the need for more younger employees to infiltrate the sector.
Lycetts reports record revenue for 2022
Lycetts grew revenue by nearly 9% in 2022 to £25.6m, as pre-tax profit rose 12% year-on-year to £3m.
New MGA Capacity Insights targets travel and consumer markets
Managing general agent Capacity Insights has launched in the UK accident and health insurance market with a particular focus on travel, health, dental and personal accident schemes.
Arag tops £60m GWP as profits return to £500,000
Legal expenses insurer Arag broke through the £60m gross written premium barrier in 2022, building on the previous year’s growth when it topped £50m for the first time.
People Moves: 5 – 9 June 2023
Keep up to date with the latest personnel moves in insurance.