Personal
Car premiums drop for second quarter in a row
Comprehensive car insurance premiums fell by 6% (£59) between April and June 2024, the second quarter of decreases according to the latest research by Confused/WTW.
UK Broker Awards 2024 shortlist announced
Today Insurance Age can reveal the shortlist for the 2024 UK Broker Awards.
Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
Addept looks to go live in Q4 as it finalises capacity deals
Wholesaler Addept Insurance Services has revealed it plans to sell its first product in the fourth quarter, as it strives to hit a target of £5m net written premium by year three.
Academy turnover dipped in run-up to Blixt buy
Academy Insurance Services’ turnover and profitability fell in the run-up to being bought by private equity house Blixt, according to a filing at Companies House.
Underinsurance concerns mount as HNW clients cut cover – Ecclesiastical
Follow-up research among brokers by Ecclesiastical has pinpointed growing worries of high-net-worth underinsurance with a quarter of clients having reduced cover during the past year.
EY records worst motor performance since 2011 with 112.8% NCR
The UK motor insurance market experienced its worst performing year since 2011 last year, recording a loss-making net combined ratio of 112.8%, according to EY’s latest UK Motor Insurance Results.
Underinsurance: The silent threat to UK homeowners and how brokers can help combat it
Insurance brokers are well-positioned to collaborate with insurers to combat the underinsurance gap in the property market. Stuart Heath, head of delegated property at Tokio Marine HCC offers his four point plan as to how they can do this.
Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
PIB reveals costs of record 26 deals in 2023
PIB spent £331.9m on a record 26 deals in 2023 as the consolidator expanded in the UK and across Europe.
Munich Re MGA put into run-off
Munich Re has put GrovesJohnWestrup, its high-net-worth managing general agent, into run-off.
Brown & Brown’s PCG buys Advo Group
Brown & Brown Europe-owned Premier Choice Group has bought employee benefits intermediary Advo Group.
Partners& acquires Switch Health
Partners& has acquired Cheltenham-based Switch Health to enhance its private medical insurance proposition for clients.
AbbeyAutoline buys Martin Carey Insurance book
AbbeyAutoline has bought the customer book of business of Lisnaskea-based Martin Carey Insurance.
Jukes strengthens presence in the Midlands with latest buy
Worcestershire-based Jukes Insurance Brokers has purchased SO Insurance Services, based in Solihull, growing its presence in the Midlands.
Bspoke ramps up in HNW with multiple ex-H&L appointments
The Bspoke Group has appointed Adrian Ewington as managing director of Bspoke Private Clients, its mid and high net worth specialist managing general agent.
Partners& signs first international HNW partnership
Partners& has teamed up with Smith Brothers Insurance for its first transatlantic partnership in the international private client market.
Markerstudy and Atlanta merger completed
Ardonagh has confirmed the completion of the Atlanta Group and Markerstudy merger.
Avid targets £100m GWP by end of 2025
Managing director of Avid Insurance Services, Stephen Gibson, is targeting £100m of gross written premium by the end of 2025, growing from around £75m to £80m this year.
FCA encourages monitoring review ahead of first Consumer Duty annual report deadline
The Financial Conduct Authority has found many firms need to make improvements in their monitoring to enable them to determine whether they are delivering good outcomes for retail customers, as required by the Consumer Duty.
Application and ghost broking motor fraud up 64% at Aviva
Aviva spotted fraud on more than 51,000 motor policy applications last year, up 64% on its 2022 detection figures, the insurer has revealed.
Devitt posts rises in year of MCE collapse
Motorcycle specialist Devitt Insurance Services grew turnover by 3.3% in 2023 as profits leapt to £4.03m.
AM Best keeps Accredited ratings unchanged during sale turmoil
AM Best has confirmed that the A- (Excellent) ratings of R&Q-owned Accredited remain in place but are still under review.
Filing pinpoints Arag growth in 2023
Arag boosted the number of risks placed by 3.6% in 2023 to 3.09m, a filing at Companies House has revealed.