United Kingdom (UK)
Biba reports return to growth in 2021
The British Insurance Brokers’ Association has reported a £211,410 rise in net assets for 2021.
John Glen resigns as Economic Secretary to the Treasury
The Minister handed in his notice to Prime Minister, Boris Johnson, yesterday (6 July) stating that he “can no longer reconcile my commitment to the role and to the financial services sector with the complete lack of confidence I have in your continuing…
Towergate Underwriting hit with £3.3m suit by pub over non-paying Gable policy
Few Inns has launched court proceedings against Towergate over a Gable policy which failed to pay out following a fire at one of its pubs in 2015.
Lorega finds “natural home” at Ardonagh
Lorega will go to the “next level” under Ardonagh’s ownership, former leader and current CEO of Vizion Insurance Brokers John Sims has predicted.
FCA strikes suspended
Strikes at the Financial Conduct Authority due to take place today and tomorrow (5 and 6 July) have been paused after negotiations between disgruntled staff and the regulator re-opened.
Brown & Brown completes GRP takeover
US-headquartered Brown & Brown has completed the takeover of consolidator Global Risk Partners.
Staysure-owned Rock Insurance extends Axa Partners deal
Rock Insurance has developed its relationship with Axa Partners with a multi-million pound deal which will see the insurer underwrite a range of travel products.
Konsileo secures £4.7m in funding
Broker Konsileo has raised £4.7m in a Series A funding round led by Growth Tech VC Committed Capital.
Blog: FCA data update – a glimpse into the future
Michael Sicsic addresses the key points in the regulator’s latest data missive flagging “there really are going to be very few places for bad operators left to hide”.
Ardonagh buys Lorega
Ardonagh’s managing general agent segment Geo Underwriting has bought loss recovery insurance MGA and assistance specialist Lorega, Insurance Age can reveal.
Acturis boosts revenue and profit in 2021
Acturis grew revenues by 6.7% in 2021 to £111.9m, its 20th consecutive year of revenue growth.
CII group calls for mandatory broker qualifications
Rising stars of the insurance broking profession have called for the regulator to make it mandatory to have qualifications to advise clients on coverage.
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.
Jensten Group renames and combines London Market proposition
Jensten Group has rebranded its London Market businesses which include Lloyd’s broker Senior Wright, and Lloyd’s and wholesale broker Tasker & Partners, as Jensten London Markets.
Coalition targets being core market player with broker only UK cyber insurance launch
Coalition is hopeful of becoming “one of the standard set of markets that domestic brokers approach for coverage” within 12 months after teaming up with Allianz to launch a cyber insurance product to SMEs and mid-market businesses in the UK, CEO Joshua…
Freedom Services Group launches 4-day week pilot
Freedom Services Group is rolling-out a four-day work week scheme to give staff back time with no salary reduction.
Brokers call for better claims communication from insurers
Brokers want better communication and more of a personal touch from insurers when dealing with complex claims, according to a survey by Allianz.
Claims experts urge brokers to be more transparent and interactive with clients
A panel of claims experts at the Managing General Agents’ Association conference 2022 has called on brokers to be more transparent and interactive with clients.
Brand succeeds Catlin as Convex group CEO
Paul Brand has become group CEO of start-up Convex succeeding co-founder Stephen Catlin who remains as executive chairman.
People Moves: 27 June - 01 July 2022
Stay informed of the top personnel changes in insurance.
Blog: Business interruption – three essentials for brokers to get right
Sedgwick’s Damian Glynn shares a business interruption checklist with brokers to help prevent underlying issues.
Insurtech and ESG suggested to be FCA’s next regulatory focus
Compliance experts at the Managing General Agents' Association conference, on 29 June, have suggested insurtech and ESG as the next areas for regulatory focus by the Financial Conduct Authority.
Allianz partners with Coalition on UK cyber insurance
US based cyber insurance provider Coalition is entering the UK market after partnering with Allianz.
Erimus lifts lid on Gallagher deal
Managing director Lee Elgie said Erimus had not planned to sell the business ahead of its deal with Gallagher which was announced earlier this week.