Personal
Car premiums up 7.8% since start of 2022
The cost of car insurance has risen 7.8% since the start of the year after new rules came in to tackle the practice of “price walking”, research by Consumer Intelligence has revealed.
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.
Drop in insurance complaints at FOS
The Financial Ombudsman Service has revealed a 26% fall in insurance complaints for 2021/22.
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.
Gallagher buys Innovu as “launch-pad” into Ireland
Gallagher has expanded into Ireland buying Innovu Insurance for an undisclosed amount.
Ceta launches notional home insurance product
Ceta has developed a notional home proposition, Prestige Notional, which is backed by Aviva.
ERS widens appetite on car offering with digital expansion
Motor provider ERS has developed its digital offering and is set to add its manually-traded Prestige and Enthusiast products to its e-trade proposition as it seeks to make them more accessible to brokers.
Biba supports FCA travel insurance review delay as directory enquiries double
The British Insurance Brokers’ Association has backed the Financial Conduct Authority’s decision to delay a review into travel insurance signposting for medically vulnerable customers by a year.
Start-up digital broker Policy Powerhouse targets over £20m GWP within five years
Policy Powerhouse has launched a holiday let buildings and contents insurance product as CEO John Bibby set out the goals of the new digital broker.
Ageas adds Neil Mercier as head of standard motor
Neil Mercier has been appointed as head of standard motor at Ageas as it seeks to consolidate its position in the personal lines space.
FCA delays travel insurance signposting review
The Financial Conduct Authority has delayed its review into the implementation of travel insurance signposting rules by a year.
Brunel Group opens Newton Abbot office
Brunel Group has opened a branch in Newton Abbot, relocating staff from Bovey Tracey, and plans to double the size of the team in the new location.
Covéa returns to profit in 2021
Covéa Insurance has reported post-tax profit of £7.9m in 2021 reversing the loss of £30.8m the previous year.
Revenue spikes 14% at SEIB in 2021
SEIB Insurance Brokers has reported increases in revenue, operating profit and profit before tax for 2021.
Lloyd & Whyte buys Naturesave Policies
Totnes-based Naturesave Policies, a broker with a focus on green and ethical insurance, has been acquired by Lloyd & Whyte for an undisclosed sum.
IFB reveals new ‘crash for cash’ hotspots across UK
The Insurance Fraud Bureau has detailed the top 10 new areas targeted by ‘crash for cash’ gangs as it warned drivers to be vigilant of the scam.
Somerset Bridge moves to Premium Credit
Broker Somerset Bridge has selected Premium Credit as its new, insurance premium finance provider in a multi-year deal.
Abacai motor brand Boom hits the market
Mark Wilson-led Abacai has rolled out motor insurance brand Boom.
LV adds Sam Dansey to lead home underwriting
LV has appointed Sam Dansey to head up its home underwriting team joining from Flood Re, Insurance Age can reveal.
Greenwood Moreland buys R C McLeish
Greenwood Moreland has bought R C McLeish Insurance Consultants in Lanark in its first deal since joining JMG Group.
UK buys on the horizon as Acrisure closes $725m funding round
US headquartered Acrisure has been valued at $23bn (£18.33bn) in its latest funding round.
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.
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.
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).