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Devitt grew 10% in run-up to Gallagher sale
Romford-based Devitt Insurance Services has posted 10% growth in turnover to £14.43m for 2021.
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.
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".
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.
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…
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.
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.
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.
Ex-Hiscox UK CEO Thaker joins Abacai as Complete Cover CEO
Bob Thaker, the former UK CEO of Hiscox, has taken over as CEO of insurtech Abacai’s broking business Complete Cover Group, Insurance Age can reveal.
Broking Success: From football to insurance
Managing director of Mason Owen Financial Services, Andrew Gibbons tells Insurance Age how he went from being a semi-professional footballer to entering the world of insurance
People Moves: 5-9 September 2022
Keeping you up to date with the latest insurance moves.
Drop in complaints to FOS but buildings and motor insurance feature in top five
Buildings insurance and car/motorcycle insurance have featured in the Financial Ombudsman Service’s top five most complained about products for the first quarter of the financial year.
News analysis: HNW - will Aviva’s play for market dominance pay off?
Rachel Gordon explores how the insurer’s move to buy Azur, and its acquisition of the Axa XL team, has shifted the prestige insurance market
Worries remain on subsidence but claims volume still uncertain
Earlier this month LV released figures showing that subsidence cases were up by 205% between June and July, and warned that they were likely to increase even more.
Aston Lark buys AJ Insurance Service
Aston Lark, a Howden company, has acquired Essex-based AJ Insurance Services for an undisclosed sum.
Nick Major to exit Aviva amid commercial lines shake-up
Aviva UK has spilt is commercial lines business into two divisions, SME and global corporate & specialty and, in personal lines, HNW boss, Simon Mobey is set to step down.
Urban Jungle expands into motor insurance
Insurtech Urban Jungle has launched its new car insurance service which offers both home and car cover.
Policy Expert targets doubling within five years, says CEO Steve Hardy
Policy Expert is aiming to double its one million customer count through further organic growth, adding new lines and potentially international expansion and acquisitions in the next five years, according to CEO Steve Hardy.
Aviva UK sees COR deteriorate and operating profit slip
Aviva UK’s combined operating ratio for H1 2022 has deteriorated to 95.6% and operating profit dropped to £159m from £169m in the same period last year.
Tribunal overturns CMA Most Favoured Nation clauses ruling and £17.9m Compare The Market fine
A Competition Appeal Tribunal has overturned a decision by the Competition and Markets Authority which was set to fine Compare the Market £17.9m for breaking competition rules on use of Most Favoured Nation clauses.