Personal
Allianz promotes to bolster personal lines broker team
The Allianz personal lines broker business has strengthened its leadership team and promoted Victoria Price to director of broker propositions.
Ecclesiastical grows 11% in half year as UK and Ireland COR tumbles to 84.2%
Ecclesiastical Insurance achieved £18m of underwriting profit on UK and Ireland business in the first half of 2024 as its combined operating ratio improved substantially to 84.2% from 106.6% in the same period of 2023.
Das grew 8% with stable COR in 2023 en route Arag deal
Das has posted growing gross written premium to £139.3m in the run-up to being bought by Arag.
Blog: Are insurance add-ons still relevant in 2024?
Julian Tomlinson, chairman of Alps, argues some insurance add-ons are more vital for policyholders today than they’ve ever been.
Ghost broker handed two-year suspended prison sentence
A man who sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate has been sentenced to two years in prison, suspended for two years.
Laka buys renewal rights of CoverCloud’s bike portfolio
Insurtech Laka has bought the renewal rights to CoverCloud’s bike portfolio from broker Acumen Insurance Services.
Premium Choice pushes beyond £10m in 2023
Personal lines motor specialist broker Premium Choice took turnover up to £10.53m in 2023 having broken through the £10m barrier the year before.
Esure owner Bain eyeing up sale – report
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters.
Markerstudy-bound Hughes posts stable turnover and profit for 2023
Northern Ireland-based broker Hughes, currently in a sales process to Markerstudy Group, maintained post-tax profit at £2m in 2023 with turnover consistent of more than £13m.
Moody’s improves outlook for UK property and casualty insurers to stable
Moody’s has changed its outlook for UK property and casualty insurers to stable from negative, noting prices for personal lines cover, such as motor insurance, have risen sufficiently to absorb claims inflation.
Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies.
Biba calls for IPT cut in Autumn Budget
The British Insurance Brokers’ Association has urged the government to cut the headline rate of insurance premium tax from 12% to 10% in the Autumn Budget on 30 October.
Six-year low, but 76% of UK properties still underinsured
The percentage of UK buildings underinsured has dropped to 76%, which while a six-year low is still “unacceptably high”, according to specialists.
Cinven buys half of Policy Expert
Private equity house Cinven has signed up to buy 50% of Policy Expert from the Abu Dhabi Investment Authority.
Addept and All Broker Services partner on ancillary insurance distribution
Specialist ancillary insurance providers Addept Insurance Services and All Broker Services have teamed up in a product distribution partnership.
Ripe takes Alan Thomas from Simply Business as CEO
Digital MGA Ripe has swooped for Alan Thomas, the former UK CEO at Simply Business, as its new boss.
Alps teams up with Fortega on GAP sales
Fortegra Europe Insurance has partnered with Alps for the distribution of Guaranteed Asset Protection insurance.
Think strikes third buy in three years with Bromwich Insurance Bureau deal
Walsall-headquartered Think Insurance Services has secured its third Midlands-based deal buying Bromwich Insurance Bureau, Insurance Age can reveal.
Axa reveals 106.3% UK COR for 2023
Axa Insurance UK has posted an improved 106.3% combined operating ratio for 2023, trimming it from 109.8% the year before.
Loss adjusters in spotlight as FOS buildings insurance complaints hit 10-year high
The number of buildings insurance complaints filed to the Financial Ombudsman Service hit a record quarterly high of 2001 between April and June.
Motor FOS complaints stable in Q1 as ombudsman’s workload surges
Car and motorcycle insurance complaints to the Financial Ombudsman Service rose fractionally to 3,940 in the first quarter of the financial year as the overall workload soared by 70%.
JMG adds to Yorkshire roots with C P Bennet buy
Leeds-headquartered JMG Group has bought Bridlington-based commercial and personal lines insurance broker C P Bennet.
Ageas delivers 49% growth in UK premiums
Ageas boosted UK gross written premiums by 49% in the first half of 2024 to €992m (£835m) citing customer growth and rate increases primarily in motor with “solid underwriting profitability”.
Home quote prices turn downwards – Consumer Intelligence
The average quoted premiums for buildings and contents insurance fell by 1.1% in the three months to the end of July, according to research by Consumer Intelligence.