News
RSA sets out strategic roadmap for 2025 with new "broker promise" vow
RSA has revealed its strategic roadmap for 2025 with a target of reaching a combined operating ratio in the low 90s and committed to unveiling a new broker "promise" in 2023.
People Moves: 19-23 September 2022
Keep up to date with the latest personnel changes in the insurance industry.
Aviva “disappointed” at other insurers for not offering fairly priced multi-occupancy building insurance
Aviva’s UK & Ireland general insurance CEO, Adam Winslow, has responded to the FCA’s report on insurance for multi-occupancy buildings and has expressed disappointment in other insurers for not offering fairly priced insurance.
Government summons ABI to meeting on FCA tower block insurance report
The Secretary of State for Levelling up, Housing & Communities has written to Hannah Gurga, director general of the Association of British Insurers, telling the industry to accelerate its work on multiple occupancy buildings insurance and solve the…
Government writes to Biba slamming “amoral” flats insurance commission and demanding change
Government minister Simon Clarke has written to Steve White, CEO of the British Insurance Brokers’ Association, demanding immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi…
Biba welcomes FCA tower blocks insurance report and flags commission rate fall
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi-occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences".
MGA Spring Insure enters the commercial PI market with McManus hire
Spring Insure, the specialist financial and professional lines managing general agent, has appointed Paula McManus as senior professional indemnity underwriter effective 3 October 2022, Insurance Age can reveal.
Aviva launches standalone cover for electric vehicle charging points
Aviva has launched standalone insurance products covering electric vehicle charging points aimed at installers and operators.
ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report
The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool.
Staysure completes aggregator Payingtoomuch buy
Staysure Group has bought the remaining shares in travel insurance comparison site Payingtoomuch.
Brokers hailed as a “critical” distribution channel for trade credit insurance by Allianz Trade CEO
CEO at Allianz Trade UK & Ireland, Sarah Murrow, has described brokers as a "critical" distributer when promoting trade credit insurance to clients.
FCA recommends Biba works on risk pool “to limit commission costs” in flats insurance report
The Financial Conduct Authority has warned of “significant concern” over some broker commissions in the multi-occupancy buildings insurance market and taken aim at a lack of transparency by the insurance sector in its dealings with leaseholders as well…
FCA sets out pooling and lower commission in flats insurance review
The Financial Conduct Authority has delivered its recommendations and potential remedies to reform the multi-occupancy buildings insurance market including a cross industry pool and lowering commissions.
Clear Group snaps up legal indemnities broker
Clear Group has made its 36th acquisition with the purchase of legal indemnities broker LawSure Direct for an undisclosed sum.
Biba launches second guide on underinsurance
The British Insurance Brokers’ Association has teamed up with QuestGates to publish a guide to valuations for members to use with their customers.
Somerset Bridge reports £49m loss after Arch Re takeover
Somerset Bridge Group has posted a £7m drop in turnover for its broking arm in 2021 to £50m.
PIB buys super yacht specialist Zorab Insurance Services
PIB has added to its specialisms division buying Zorab Insurance Services for an undisclosed sum.
UK Broker Awards 2022: Meet the winners
Clegg Gifford & Co was named Broker of the Year and David Howden was awarded the Achievement Award as brokers came together for the first time at its traditional venue - The Brewery - since before Covid-19 to celebrate the UK Broker Awards.
Abbey posts turnover surge as profits rise in 2021
Abbey Insurance Brokers, which trades as AbbeyAutoline, has reported turnover of £26.6m for 2021, up 29.2% on the year before.
People Moves: 12-16 September 2022
The latest personnel changes within the insurance industry.
Car damage inflation cooling off - Jefferies
Jefferies’ UK motor insurance tracker has revealed that car damage inflation has dropped and is now at 7% year-on-year as the group maintained its forecast of a combined operating ratio of 116% for the market in 2022.
Covéa personal lines MD James Gearey departs
Covéa Insurance has confirmed that James Gearey, managing director of personal lines and protection, has left the business.
PIB revamps top team with Amwins and Aon hires
PIB Group has promoted Ryan Brown to deputy CEO, appointed Onno Janssen as CEO for Europe, and recruited Matthew Crane as CEO for underwriting with Bernard Mageean retiring among a string of executive management changes, Insurance Age can reveal.
Edwards Insurance Brokers expands into Hampshire
Edwards Insurance Brokers has opened a new office in Fareham on the back of pandemic recruitment.