United Kingdom (UK)
Biba continues partner push with Arch Insurance
Arch Insurance has joined the British Insurance Brokers’ Association as a partner following in the footsteps of recent additions Covéa Insurance and Travelers Europe.
Ripe grows turnover in 2021 with profits stable
Ripe Thinking has reported a 24% rise in turnover to £23.27m for 2021.
People Moves: 11-15 July 2022
Stay informed of the top personnel changes in insurance.
Analysis: The challenge to build back better – as trust in insurance drops
Consumer trust in insurance has fallen over the past 12 months, but experts can see a route to a brighter future. Emmanuel Kenning reports.
WTW warns of accelerating motor claims inflation
WTW has warned UK motor claims inflation is expected to accelerate in 2022 after pandemic disruption caused a slowdown in the average time taken to settle claims which acted as a temporary break on rises.
Sabre warns of surging claims costs as motor GWP and profit drops
Gross written premium in Sabre’s motor book has dropped around 10.6% compared to the same period in 2021, the insurer has revealed in its half year results.
Avantia grows revenue to £26.6m in 2021
Property specialist Avantia has reported revenue of £26.58m in 2021 with a reinvestment by ECI Partners.
Ataraxia ups stake in Whitefield Insurance Brokers
Ataraxia has boosted its shareholding in Greater Manchester-based Whitefield Insurance Brokers to 49%.
ESG Round-up - July 2022
Insurance Age rounds up the key stories from the insurance sector’s environmental and social governance agenda, featuring Aviva, Brit Insurance, Romero Group and Partners&.
CPP sells Alpha Underwriting six months after buying it
Just Travel Cover, a leisure travel insurance specialist and insurance product and service provider, has bought the travel insurance and scheme specialist business Alpha Underwriting from CPP Secure.
U-turn revives PFS CEO role
The Personal Finance Society is seeking an interim CEO ahead of recruiting for a permanent successor to Keith Richards.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
Insurtech app Honcho shuts up shop
Motor specialist Honcho has closed for business after three years of trading citing difficulty acquiring customers and the competitive environment as reasons for the closure.
FCA says all options on table ahead of possible phased implementation period for Consumer Duty
Brokers have been urged to prepare for the April deadline as the Financial Conduct Authority ponders changes to the implementation period for Consumer Duty regulations.
Brokers looking to introduce multi-policy portfolio, says CDL’s CEO
CDL’s CEO, Nigel Phillips, has said brokers are looking to deploy a multi-policy portfolio, so that they can “reap” some of the benefits by offering a breadth of policies to their customers.
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.
FSCS broker pot pays out £7m compensation in 2021/22 after levies of £13m
The Financial Services Compensation Scheme has revealed that the broker levy pot paid out £7m in compensation in 2021/22, less than half the £15m total in 2020/21.
Ghost broker gets suspended sentence over £50,000 fraud
Rodney Bruce Van der Puye has been sentenced to 21 months imprisonment suspended for two years and ordered to complete 180 hours of unpaid work for acting as an illegal insurance intermediary.
Lloyd’s commits to One Lime Street – report
Lloyd’s of London is set to stay in the iconic Lime Street building designed by Sir Richard Rogers until at least 2031.
Sam White’s Freedom Services Group adds David Williams as first NED
Former Axa leader David Williams has joined Freedom Services Group, consisting of managing general agent Pukka, Freedom Brokers and claims management service Action 365, as a non-executive director, Insurance Age can reveal.
FCA names Ashley Alder as chair
HM Treasury has appointed Ashley Alder as the new chair of the Financial Conduct Authority succeeding Charles Randell.
Lycetts continues growth trajectory
Lycetts has grown its turnover to £23.5m for the full year 2021 from £22.4m in 2020 according to documents filed on Companies House.
People Moves: 4-8 July 2022
Stay informed of the top personnel changes in insurance.
Biba adds Covéa as partner
The British Insurance Brokers’ Association has added Covéa Insurance to its roster of partners taking the total to 20.