News
People on low incomes are giving up insurance due to ‘poverty premium’
More than half of people in poverty are finding it difficult to pay for their insurance, leading some to give up insurance as they prioritise food and energy bills, according to research by Social Market Foundation.
Commercial grows at Direct Line as group falls to £45m loss
Direct Line grew commercial business across NIG and its own direct brands by 14.7% in 2022 to £749.3m of gross written premium.
Coalition expands product line for brokers struggling to get cyber cover
Coalition has launched an excess cyber protection product in the UK.
RSA’s Mooney stresses ‘we have got a lot of work to do’ for better service
RSA’s managing director of UK commercial, Lee Mooney, has vowed to institutionalise a consistent service that shows appetite, ongoing ambition to grow and desire to be there for customers as the insurer targets adding 200 broker relationships on top of…
Allianz reveals global plan to bring mid and large corporate under one model
Allianz Group has unveiled Allianz Commercial featuring an integrated approach for Allianz Global Corporate & Specialty and mid-sized country-based accounts.
People Moves: 6 – 10 March 2023
Follow the latest insurance personnel moves.
Aviva’s Winslow insists ‘we can do more’ to return broker service to pre-2019 levels
With rates continuing to rise, Adam Winslow, CEO of Aviva UK & Ireland general insurance has stressed that it can do more when helping brokers through the challenging market.
Aviva UK operating profit slips in 2022 as COR ticks up
Aviva’s UK combined operating ratio worsened to 96.1% in 2022, from 94.6% the year before, with operating profit down 3% to £309m.
Nirvana completes MBO from Castel
Nirvana Risk Partners, a division of Castel Underwriting Agencies, has completed a management buyout from the club-style MGA formation platform.
Lloyd’s hails underwriting performance as COR drops to 91.9% in 2022
Lloyd’s has labelled its underwriting performance in 2022 as good as any in recent memory with “more than expected” improvement.
Brokers urged to check motor policy wordings amid boom in green parts
Brokers are being urged to ensure they are up to date with changes in motor policy wordings, as the trend is escalating for insurers to use green parts.
Gallagher wins Knight Frank Finance account from Howden and Uinsure
Gallagher has won the contract to provide clients of mortgage and insurance advisory specialist Knight Frank Finance with insurance products.
Paul Moors teams up again with ex-Bollington chief at insurtech
Paul Moors has joined motor broking insurtech GoShorty in his first major role outside of the Arthur J Gallagher-owned Bollington business.
Hiscox posts UK commercial growth for 2022
Hiscox has reported $778m (£657.8m) of gross written premium in the UK for 2022, as the wider group delivered its best underwriting performance since 2015.
International Women’s Day: Zurich’s Michelle Taylor – “we just have to have the conversation”
To mark International Women’s Day, Insurance Age met with Zurich’s Michelle Taylor to gather her insights on gender diversity in the market.
CII reveals planned service disruptions
The Chartered Insurance Institute has revealed that there will be disruptions to its membership and learning services while it transitions to a new customer and member relationship management system this month.
McClarrons adds marine specialist Soak Insure as AR
North Yorkshire-based McClarrons Insurance Brokers has expanded into the marine market, taking on specialist Soak Insure as an appointed representative.
Acturis is not for sale, sources reveal
Acturis is not for sale, sources close to the company has confirmed, following a report that a key shareholder was eyeing up an exit.
Open GI shareholder looking at sale options – report
Open GI’s majority shareholder is targeting a sale of the business in the second quarter of 2023, according to Reuters.
Saga’s exclusive Acromas sale talks collapse
Talks between Saga and Australian insurtech Open Insurance Technologies to sell underwriting business Acromas Insurance have ended without a deal, the over-50s specialist has confirmed.
People Moves: 27 February - 3 March 2023
Keep up to date with the latest personnel moves within insurance.
Hiscox launches broker extranet
Hiscox has launched a broker extranet claiming it is the first full cycle digital trading extranet built by an insurer that supports integration into brokers’ Acturis back office.
MGAA edges closer to membership milestone
The Managing General Agents’ Association’s CEO Mike Keating has revealed that the trade body is close to surpassing 200 full members in the next couple of months.
Beazley posts 14% GWP growth as profits nearly halve in 2022
Beazley has reported gross written premiums of $5.27bn (£4.4bn) for 2022, up by 14% on the year before.