News
BMS promotes Ian Gormley to UK CEO
BMS has made Ian Gormley UK CEO, effective immediately, reporting to group CEO Nick Cook.
PIB buys beauty specialist Balens
PIB has added Worcestershire-based broker Balens to its portfolio adding health, wellbeing, fitness and beauty insurance to its list of specialisms.
Drop in insurance complaints at FOS
The Financial Ombudsman Service has revealed a 26% fall in insurance complaints for 2021/22.
CII seeks rising stars of insurance
The Chartered Insurance Institute is seeking up-and-coming insurance professionals to join the body’s flagship talent programme: the New Generation Group.
Action group vows to pursue broker Pound Gates after BI policies fail to pay out
A group of nurseries is banding together to sue broker Pound Gates for an estimated £10m after it recommended business interruption insurance policies that failed to pay out during the Covid-19 pandemic.
Primary Group appoints advisors for possible £1bn QMetric sale – report
Primary Group has taken on Perella Weinberg Partners to explore a potential £1bn sale of Policy Expert’s parent company QMetric, Bloomberg has reported.
Hiscox names Flaquet as group COO
Hiscox has appointed Stéphane Flaquet to the newly created role of group chief operating officer.
Rishi Sunak flags speedy reform for Solvency II rules
The Chancellor of the Exchequer Rishi Sunak told insurance executives at a meeting on Monday that Britain wants to reform its insurer solvency rules quickly.
Gallagher acquires Erimus Group
Gallagher has added to its branch network with its buy of Erimus Group for an undisclosed sum.
Acrisure targets SME brokers in M&A drive
Acrisure is set to target SME brokers in the UK and Ireland, following its Russell Scanlan buy, as it moves forward with its M&A strategy according to president, Mark McIlquham
Blog: Firms need to safeguard employee mental health and their own liability
Plexus Law’s Carl McGuire assesses the steps employers can take concerning occupational health claims arising from issues such as stress, workload and discrimination.
Innovu to rebrand as Gallagher
Gallagher will rebrand Innovu and build the broker organically and through M&A into a top three player in Ireland, Michael Rea, CEO of Gallagher’s retail division, UK & Ireland has set out.
Goldman Sachs buys into Clear as ECI exits
The private equity business within Goldman Sachs Asset Management has signed up to buy a stake in Clear Group, the broker has confirmed.
GRP expands in Wales with Prescott Jones buy
Global Risk Partners has bought Swansea-based Prescott Jones for an undisclosed sum.
MGA Fusion Specialty expands in UK
SME focused M&A and financial lines specialist managing general agent Fusion Specialty has launched Fusion Specialty UK.
Blog: Stonegate v MS Amlin and others - battle lines drawn in a £1bn dispute
Reed Smith’s Peter Hardy and Catherine Lewis consider the impact of Stonegate’s £1bn court claim.
Amanda Blanc says she feels “responsible” for addressing industry sexism
Aviva CEO, Amanda Blanc, has spoken on Women’s Hour this week to say she felt compelled to address sexist incidents as one of only nine female FTSE 100 CEOs.
Igo4 pledges to go Net Zero by 2050
Igo4 has signed up to the Science Based Targets Initiative committing to a 46% reduction in greenhouse gas emissions by 2030 and to become Net Zero by 2050.
Gallagher buys Innovu as “launch-pad” into Ireland
Gallagher has expanded into Ireland buying Innovu Insurance for an undisclosed amount.
New Treasury sub-committee to scrutinise regulators
The Treasury Select Committee has revealed a new sub-committee to scrutinise regulatory proposals for financial services in the post-Brexit landscape.
Blog: Should we regulate the software houses?
Andy Fairchild, former leader of Broker Network and Applied Systems Europe, considers whether there is enough oversight of the tech providers to the insurance industry.
People Moves: 20-24 June 2022
Stay informed of the top personnel changes in insurance.
Amicus hits £22m in GWP and sets sights on M&A
Amicus CEO, Adam Scott, has told Insurance Age that the broker is looking to do deals as it aims to become the largest construction waste broker in the UK, following last year's MBO which was supported by Shawbrook Bank.
FCA warned on nearly 2000 potential scams in 2021/22
The Financial Conduct Authority added 1966 possible scams to its consumer warning list between May 2021 and April 2022 the watchdog has confirmed as it updated on the progress of its data strategy.