News
Accredited deal sees QIC exit, Policy Expert confirms
Policy Expert’s capacity deal of up to £2bn over six years with Accredited Insurance will replace its existing arrangement with QIC Europe when the current contract expires, the business has confirmed to Insurance Age.
People Moves: 30 May - 01 June
Keep up-to-date with the latest job changes in insurance.
Blog: Real estate brokers tap into claims data in response to hard market
Victoria Jewell, of McLarens, explores the impact of brokers on the billion-pound real estate market.
Clear buys Centor
Clear Group has bought Centor Insurance & Risk Management for an undisclosed sum.
GRP-owned Marshall Wooldridge buys Bush & Associates
Global Risk Partners’ Marshall Wooldridge has bought Insurefirst which trades as Bush & Associates.
Allianz tops Brokerbility insurer service survey
Allianz has been awarded the highest overall satisfaction rating with a score of 74.9% in the latest survey of members by Brokerbility.
FCA reveals D&I and AR delays
The Financial Conduct Authority has delayed its consultation paper and policy statement on diversity in financial services as well as a policy statement on reviewing the appointed representatives regime.
Regional brokers spy growth in real estate
The regional real estate market is in rude health, with six in 10 brokers (56%) reporting growth over the past 12 months, and one in six (16%) reporting significant growth, according to Ecclesiastical.
Biba pushes back against FCA letter
The British Insurance Brokers’ Association has criticised the tone taken by the Financial Conduct Authority in its letter to brokers and promised to respond to the watchdog to defend the work done by the sector.
Igo4 highlights benefits of robotic process automation
Igo4 has flagged how the implementation of robotic process automation has helped drive efficiency in the business and freed up staff to work on high value tasks over repetitive, monotonous operations.
Momentum grows turnover and profit as it tops £50m GWP
Appointed representatives network Momentum has reported turnover of £9.9m for 2021, up from £7.8m in 2020.
Sarah Willmont promoted to UK CEO as Canopius restructures
Canopius has named Sarah Willmont as UK CEO as it reorganised its global underwriting operations into four areas of specialty, short tail, reinsurance and casualty.
Biba welcomes FSCS fee cut
The British Insurance Brokers' Association has welcomed the Financial Services Compensation Scheme's decision to lower the broker levy from £68m to £5m for 2022/23.
People Moves: 23-27 May 2022
Keep up-to-date with the latest job changes in insurance.
Disappointed FCA warns brokers on consumer harms
The Financial Conduct Authority has written to brokers warning there are significant risks of potential harm that both the market and individual firms need to address and that it will take action where needed.
BoE exercise: No additional action scenario on climate change ups UK insurer losses by 50%
UK general insurers could face at least a 50% increase in average annualised losses in a non additional action on climate change scenario, a report by the Bank of England has detailed.
Broker FSCS levy plummets to £5m for 2022/23 from expected £68m
The Financial Services Compensation Scheme has cut brokers’ levy contribution to £5.3m for 2022/23 as it cancelled a planned retail pool contribution.
R&Q and Brickell deal collapses
R&Q has detailed plans to raise $108m (£85.8m) as the proposed takeover by Brickell fell through.
Cyber pricing hardens over 30%, says Aon
Market conditions for cyber insurance in the UK remain challenging with prices hardening by over 30% for the first quarter, according to an update by Aon.
GRP-owned DCJ buys SM Commercial
DCJ Group, part of Global Risk Partners, has acquired 100% of the share capital of SM Commercial Insurance Brokers.
Adrian Coupland joins Earnix
The former customer and marketing director at SSP, Adrian Coupland, has joined Earnix as head of sales for insurance in Europe, the Middle East and Africa.
Brickell seeks to cancel £482m R&Q takeover deal
Randall & Quilter has revealed that Brickell has cited a “material breach” and moved to scrap the proposed takeover.
Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
Home and motor insurtech Policy Expert has agreed a six-year capacity deal with A- rated R&Q subsidiary Accredited Insurance (Europe).
HDI restructures UK & Ireland operations
HDI Global and HDI Global Specialty’s UK and Ireland branches have been brought under a common leadership structure for the first time.