News
Premium Credit rolls out service to help brokers win over FCA on fair value
Premium Credit has rolled out a benchmarking report service that can help brokers with their fair value assessments, remaining compliant at a time of intense regulatory focus on premium finance and the credit sector.
Lloyd’s appoints Rachel Turk as chief underwriting officer
Lloyd’s has named Rachel Turk in the new role of chief underwriting officer joining from Beazley.
NFU Mutual, Gallagher, Markel and Skyline Partners team up on pioneering product for dairy farmers
A quartet of specialists have joined forces to create the UK’s first parametric heat-stress insurance for dairy farmers.
Amazon adds Policy Expert to insurance store
Personal lines specialist Policy Expert has joined the Amazon Insurance Store taking the number of providers up to four.
Allianz personal lines boss Treloar steps down
Allianz managing director Steve Treloar is to step down, saying now is the right time to ‘pass on the baton’.
Aviva posts 13% GWP hike in Q1
Aviva grew general insurance premiums in the UK by 13% in the first quarter of 2023 as its combined operating ratio also improved.
Brokers told to prepare for major law change in rental insurance sector
Brokers have been told that a major change in the law in property will also affect the insurance market.
Insly launches no code sales software for brokers
Software provider Insly has rolled out BrokerFlow, designed to enable brokers to digitise their sales workflow including application forms, risk surveys, and customer proposals.
GRP owner Brown & Brown buys Nexus and Xenia owner Kentro
US giant Brown & Brown has signed up to buy Kentro Capital, which includes Nexus Underwriting and Xenia Broking, in a deal expected to close in the fourth quarter.
Ecclesiastical flags second home crimes hitting HNW sector
One in five (22%) crimes experienced by high-net-worth clients happened at their second home or holiday home during the past 12 months, according to research by Ecclesiastical as it released new guidance to help brokers speak to clients about how to best…
JMG strikes 20th deal
JMG Group has bought commercial and corporate broker Insure Business in its 20th acquisition since being formed just over two and half years ago.
UK Broker Awards deadline extended until 26 May
The deadline for the 2023 UK Broker Awards has been extended until this Friday (26 May), so you still have a chance to be in it to win it!
Binders could be next in FCA commissions crackdown - compliance experts
The Financial Conduct Authority crackdown on property commissions could be the 'tip of a very large iceberg', with binding authority arrangements next in line for a change, according to regulatory experts.
People Moves: 15 – 19 May 2023
Keep up-to-date with the latest insurance personnel moves.
Funds transfer fraud replaces ransomware as leading cyber claims type, says Coalition
Ransomware claims frequency dropped 54% between 2021 and 2022, according to a report by cyber specialist insurer Coalition.
Tysers’ owner cancels UK joint venture
AUB Group has scrapped plans to create a joint venture for Tysers’ UK retail business with fellow Australian stock exchange listed firm PSC Insurance Group.
Home insurance premiums tick up by less than inflation at 6%
The average price paid for a combined buildings and contents home insurance policy in the first quarter of 2023 was £315, according to the Association of British Insurers.
Industry must work together to tackle recruitment challenges - Davies Group
Director of Davies Learning Solutions at Davies Group, Carolyn Blunt, has urged the insurance industry to come together to help tackle recruitment challenges.
Only 27% of brokers implementing Net Zero plans
Research by Aviva has revealed that only 27% of brokers are actively implementing Net Zero plans. However, the figure has risen from 17% in 2022.
Allianz seeks to move closer to brokers with new financial lines team in three regional hubs
Allianz Commercial has formed a financial lines team focusing solely on directors & officers cover and professional indemnity propositions.
Melissa Collett leaves the CII
Executive director for professional standards at the Chartered Insurance Institute, Melissa Collett, is leaving this month after more than five years in the role.
Ex-Hiscox UK boss Thaker joins rival insurer in bid to woo regional brokers
Bob Thaker has joined Sompo International to help boost its proposition to brokers across the UK.
Howden in management restructure as broking CEO retires
Howden will streamline its management structure with all the major divisions reporting to CEO David Howden.
Specialist Risk Group snaps up TLO Risk Services
SRG has added to its professional lines capability with the purchase of TLO Risk Services for an undisclosed sum.