News
Deal-linked Esure swings back to profit
Motor and home insurer Esure, previously touted as takeover target for Ageas, Allianz and Aviva, moved back into the black in 2024 with a £57.7m post tax profit reversing a loss of £60.1m the year before.
HDI takes Breese from Arch as cyber leader
HDI Global UK and Ireland has recruited Marcus Breese as head of cyber underwriting, joining from Arch Insurance International.
Arron Banks slams Green ‘wokery’ and ‘finished’ Tories as he announces mayoral tilt
Somerset Bridge and Brightside founder Arron Banks has been confirmed as the Reform UK party mayoral candidate for the West of England.
Brunel Insurance Brokers in North Devon broker deal
Brunel Insurance Brokers has snapped up the renewal rights of John Walker Insurance.
MGA adds Hiscox to non-standard property panel
NBS Underwriting has added A-rated capacity from Hiscox to its non-standard household product panel.
Confidence on growth stays stable as regulation remains to the fore
Around nine in ten leaders continue to feel upbeat about growth prospects for the second quarter of 2025, according to the latest findings in the KPMG UK Financial Services Sentiment survey.
Lloyd’s bound Convex releases 2024 results
Convex Group grew gross written premiums by 22% last year to $5.17bn (£4bn) as its combined operating ratio improved to 87.6% from 89.6% in 2023.
Mitsui Sumitomo to buy 15% stake in W.R. Berkley
Japanese insurer Mitsui Sumitomo Insurance has signed up to buy 15% of the shares in New York Stock Exchange listed W.R. Berkley Corporation.
RSA cutting up to 250 jobs in Peterborough following personal lines exit
RSA has put 250 jobs at risk in its Peterborough office over the next two years, following the insurer’s decision to exit the personal insurance market first announced in December 2023.
People Moves: 24 – 28 March 2025
Keep up to date with the latest insurance industry personnel moves.
Iprism grows again with a 21% boost in 2024
Managing general agent Iprism Underwriting Agency grew 21% in the year to 30 June 2024, building on the 16% achieved the year before, and is eyeing up further expansion in 2025.
Allianz Commercial appoints CUO and CTO
Allianz UK has appointed Adam Lloyd from Allianz Australia as chief underwriting officer in Allianz Commercial and promoted Claire Buck to the newly created role of chief technical officer for the division.
Ardonagh posts 8% organic growth for 2024
The Ardonagh Group has declared a 24% rise in reported income to $1.98bn (£1.53bn) in 2024, a year it completed 68 acquisitions around the world.
Ardonagh December 24 raise measured at $2.5bn – report
Ardonagh will bring in up to $2.5bn (£1.94bn) from investors to be used for its growth plans including acquisitions, according to Bloomberg.
Experts hail proportionate regulation in FCA five-year strategy
The Financial Conduct Authority’s strategic plan for 2025-2030 is “expansive and broad”, but the initial impression is positive, “particularly on the noises the FCA has made around proportionate regulation”, according to Jill Hambley, managing director…
SSP completes 18-month cloud migration at £3m cost
SSP Broker has completed its cloud migration of more than 400 brokers after 18 months, costing the software house £3m.
Bayles to lead Bravo Networks as MD Bennett moves to Towergate role
Bravo Networks managing director Scott Bennett has moved to be branch director for Towergate in Manchester with Phil Bayles covering at the network on an interim basis.
TBIG starts 2025 M&A push
Beam Insurance Solutions, part of The Broker Investment Group, has bought Bridgnorth-based KDH Insurance Brokers.
Howden grows employee benefits business with Barnett Waddingham purchase
Howden has agreed to buy pensions and employee benefits consultancy Barnett Waddingham, doubling its staff in the sector to almost 4,000 with £500m of global revenue.
FCA to consult on removing minimum training and development hours in insurance
The Financial Conduct Authority will open a consultation this summer including on the definition of SME used in the insurance market as part of its ongoing review of Consumer Duty rules.
FCA launches five-year strategy promising smarter, more efficient and effective regulation
The Financial Conduct Authority has launched its five-year strategy revealing the four priorities for 2025 to 2030.
Access Insurance seals first acquisition since Benefact Group investment
Benefact Group-owned charity specialist Access Insurance has sealed its fourth acquisition with a swoop for Chesterfield-based broker Ladbrook Insurance.
Patston named Touchstone MD as Roe retires
Mike Patston has been promoted to managing director of Touchstone Underwriting following the retirement of Alan Roe.
Broker hails ‘financial firepower’ and ‘skillsets’ of PE partner after selling minority stake
Berry Palmer & Lyle, the specialist credit and political risk insurance broker, has announced today that it has secured investment from private equity firm Preservation Capital Partners.