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Analysts point to 265p per share to sweeten Aviva-DLG deal
Experts from Peel Hunt have labelled Aviva’s 250p per share approach for Direct Line as a “reasonable offer” adding there is “scope to sweeten the bid to 260-265p”.
DLG rejects £3.3bn Aviva takeover offer
Aviva has revealed it has become the second insurer to publicly bid for Direct Line Group this year, with an offer worth £3.3bn.
Car and motorcycle insurance complaints stick in FOS top five
The number of car and motorcycle insurance complaints to the Financial Ombudsman Service in the second quarter of 2024/25 dropped compared to the same period a year ago however the sector has remained in the top five.
News analysis: Acquisitional independent brokers are on the rise, but are they any different to consolidators?
Whilst larger international and private equity backed-brokers might get the most headlines when it comes to mergers and acquisitions, they are not the only firms looking to buy. Martin Friel looks at the emergence of a host of smaller independent…
Close Brothers bringing in written consent rule on commercial broker premium finance commission
Close Brothers will require consent from commercial customers for broker commissions for premium finance as of Monday 25 November.
Covéa promises brokers faster access with CDL home insurance tie-up
Covéa Insurance has promised brokers faster access to products and effective pricing as it launched its home insurance business on CDL’s Insurer Hosted Pricing hub, Insurance Age can reveal.
Second quarter of motor premium falls in a row – ABI
The average motor insurance premium fell by 2% in July to September to £612, according to the latest data from the Association of British Insurers, the second consecutive quarterly drop.
EY revises insurer income growth forecasts but trend remains down
EY has released improved premium income forecasts for UK non-life insurers but maintained its view of slowing growth in 2024, 2025 and 2026.
Aviva lifts the lid on young person social media ghost broking epidemic
One in three young drivers have purchased car insurance from ghost brokers selling invalid or fake policies on social media platforms, according to an Aviva survey.
DLG to cut 550 jobs as it targets £100m of savings
Direct Line Group has started consultations with staff as part of a proposed reduction of about 550 roles, it announced today.
Video Q&A: Hiscox head of private art and private clients Robert Read
Following the High Net Worth Forum, which was held on the 7th November in London, Insurance Age content director Jonathan Swift caught up with sponsor Hiscox’s head of art and private clients Robert Read, to discuss the state of the market.
RBC warns of potential £250m premium finance hit to Close Brothers
If a recent court ruling on motor finance litigation is upheld and spreads to premium finance Close Brothers could suffer a £250m hit, equity analysts RBC Capital Markets have warned.
Loss adjusters call on brokers to educate HNW clients on valuations
A panel of loss adjusters at Insurance Age’s High Net Worth Forum today noted brokers should educate clients about the frequency of valuations and be hand holders during tough conversations.
Broker deals help push Hiscox to 4.5% UK growth
Hiscox has revealed 4.5% growth in written premiums to £504.2m for the first nine months of 2024 as it topped over half a million customers.
Hood moves household book from RSA to Bspoke
Bspoke Group has teamed up with Hood Group to underwrite the Top 100 Broker and affinity insurance provider’s household portfolio.
Markerstudy completes Hughes purchase
Markerstudy Group has completed the purchase of Northern Ireland based Hughes Insurance as it looks to build in the region.
Wholesaler seals second capacity deal in a month
Addept Insurance Services has sealed a capacity deal with The Salvation Army General Insurance Corporation for the firm’s new dedicated tenant pet damage protection insurance for landlords, called Not for Lions.
Deva buys Wrexham-based Tudor Insurance
Deva Group has struck its first deal since The Broker Investment Group upped its stake in the firm to 75% this summer.
Analysis: What does Labour’s first Budget mean for insurance brokers?
In the time since Labour won the election on 4 July there has been much speculation as to what their first Budget would contain. PFK Littlejohn’s Tom Golding looks at some of the key changes announced - and what these may mean for insurance brokers.
Insurance industry voices fears over NI and minimum wage hikes on SMEs as it responds to Budget
A host of insurance figures have expressed concern that Chancellor Rachel Reeves' Budget announcement today will mean SMEs could cut back on staff and business investment, as well as commercial cover putting them at greater risk of underinsurance.
GI complaints to FOS drop as workload soars in first half of 2024
While the Financial Ombudsman Service’s workload surged upwards by 43% in the first half of the year, the number of general insurance and pure protection complaints fell by 8% compared to the start of 2023, new figures have revealed.
Policy Expert owner Qmetric swings back to operating profit
Qmetric, which trades as personal lines specialist Policy Expert, returned to operating profit and pushed Ebitda into the black last financial year with turnover and customer numbers rising.
Markerstudy confirms motor specialist Collingwood buy
A spokesperson for Markerstudy Group has confirmed that backer Pollen Street Capital, in conjunction with Markerstudy, has agreed to buy Gibraltar-based Collingwood Insurance Services.
Complete Cover lost £1.7m in run-up to run-off
Complete Cover Group lost £1.68m in 2023 with turnover tumbling to £2.7m ahead of the car and van specialist broker going into run-off.