News
FCA strikes suspended
Strikes at the Financial Conduct Authority due to take place today and tomorrow (5 and 6 July) have been paused after negotiations between disgruntled staff and the regulator re-opened.
Brown & Brown completes GRP takeover
US-headquartered Brown & Brown has completed the takeover of consolidator Global Risk Partners.
Staysure-owned Rock Insurance extends Axa Partners deal
Rock Insurance has developed its relationship with Axa Partners with a multi-million pound deal which will see the insurer underwrite a range of travel products.
Konsileo secures £4.7m in funding
Broker Konsileo has raised £4.7m in a Series A funding round led by Growth Tech VC Committed Capital.
Blog: FCA data update – a glimpse into the future
Michael Sicsic addresses the key points in the regulator’s latest data missive flagging “there really are going to be very few places for bad operators left to hide”.
Ardonagh buys Lorega
Ardonagh’s managing general agent segment Geo Underwriting has bought loss recovery insurance MGA and assistance specialist Lorega, Insurance Age can reveal.
Acturis boosts revenue and profit in 2021
Acturis grew revenues by 6.7% in 2021 to £111.9m, its 20th consecutive year of revenue growth.
CII group calls for mandatory broker qualifications
Rising stars of the insurance broking profession have called for the regulator to make it mandatory to have qualifications to advise clients on coverage.
Motor market profitable in 2021 but losses predicted for 2022 and 2023
UK motor insurers achieved a profit in 2021 but will slip back into the red this year and next, EY has forecast.
Jensten Group renames and combines London Market proposition
Jensten Group has rebranded its London Market businesses which include Lloyd’s broker Senior Wright, and Lloyd’s and wholesale broker Tasker & Partners, as Jensten London Markets.
Coalition targets being core market player with broker only UK cyber insurance launch
Coalition is hopeful of becoming “one of the standard set of markets that domestic brokers approach for coverage” within 12 months after teaming up with Allianz to launch a cyber insurance product to SMEs and mid-market businesses in the UK, CEO Joshua…
Freedom Services Group launches 4-day week pilot
Freedom Services Group is rolling-out a four-day work week scheme to give staff back time with no salary reduction.
Brokers call for better claims communication from insurers
Brokers want better communication and more of a personal touch from insurers when dealing with complex claims, according to a survey by Allianz.
Claims experts urge brokers to be more transparent and interactive with clients
A panel of claims experts at the Managing General Agents’ Association conference 2022 has called on brokers to be more transparent and interactive with clients.
Brand succeeds Catlin as Convex group CEO
Paul Brand has become group CEO of start-up Convex succeeding co-founder Stephen Catlin who remains as executive chairman.
People Moves: 27 June - 01 July 2022
Stay informed of the top personnel changes in insurance.
Blog: Business interruption – three essentials for brokers to get right
Sedgwick’s Damian Glynn shares a business interruption checklist with brokers to help prevent underlying issues.
Insurtech and ESG suggested to be FCA’s next regulatory focus
Compliance experts at the Managing General Agents' Association conference, on 29 June, have suggested insurtech and ESG as the next areas for regulatory focus by the Financial Conduct Authority.
Allianz partners with Coalition on UK cyber insurance
US based cyber insurance provider Coalition is entering the UK market after partnering with Allianz.
Erimus lifts lid on Gallagher deal
Managing director Lee Elgie said Erimus had not planned to sell the business ahead of its deal with Gallagher which was announced earlier this week.
Football clubs step up BI court case against insurers
A group of professional football clubs has set out its demand for multiple business interruption payments having kicked off a High Court multi-million pound Covid-19 related legal case last month.
Folgate Insurance appoints Ian Russell as CEO
Ian Russell has been appointed group CEO of Folgate Insurance with effect from 1 July 2022 and will succeed Brian Russell.
David Howden calls for better self-regulation across insurance
CEO of Howden Group, David Howden, has insisted MGAs, underwriters and brokers must work harder on self-regulation and call out bad behaviour when they see it.
BMS promotes Ian Gormley to UK CEO
BMS has made Ian Gormley UK CEO, effective immediately, reporting to group CEO Nick Cook.