United Kingdom (UK)
Blog: Sanctions screening and responsibilities of UK insurance brokers
It’s critical for brokers to understand and manage sanctions screening and anti-money laundering compliance to avoid possible penalties, including fines, reputational damage and potential imprisonment for senior decision makers, says Paul Tasker CEO of…
Experts dissect FCA three-year strategy
The Financial Conduct Authority’s three-year strategy has “a number of headlines for all financial services firms” according to Michael Sicsic, managing director of Sicsic Advisory.
Brokers facing 3.2% FCA fee rise as regulator budget grows to £640.1m
The Financial Conduct Authority has proposed that the general insurance mediation pot where brokers sit will pay £31.4m towards its annual funding requirement in 2022/23.
FCA to add 80 jobs focused on shutting down problem firms
The Financial Conduct Authority will focus resources on preventing serious harm, setting higher standards and promoting competition the watchdog detailed as it revealed its three-year strategy to improve outcomes.
JM Glendinning buys Sphere Group
Newcastle-based insurance broker and risk management firm The Sphere Group has been acquired by JM Glendinning Group for an undisclosed sum.
PIB snaps up international wholesale specialty broker Guest Krieger
The London Market broker writes specialty business mainly emanating from Israel but also from more than 30 other countries.
FCA puts broker commission under the spotlight in multi-occupancy property insurance review
The regulator’s survey includes asking if brokers have a bribery and corruption policy and a request for a copy.
PIB buys Bailey Garner (Health & Safety)
The deal adds nearly 20 staff to the consolidator’s risk management business taking the total headcount to approaching 80.
People Moves: 4 - 8 April 2022
Keep up-to-date with the latest industry moves.
FCA bolsters authorisations team
The watchdog has added two senior directors, a finance director and filled a further 95 authorisation roles.
Lawyers reveal record levels of fines for companies let down by their directors and officers
SMEs racked up over £60m in D&O fines in 2021, compared to £120m between 2016-2020, according to law firm BLM.
Aviva and Allianz surveys flag inflation and climate impact issues for SMEs
Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental…
Blog: Managing theatre risk post-Covid
Ross Howard, assistant underwriter for entertainment at Markel International, and amateur thespian, explains how performers and theatre companies have overcome the obstacles of Covid-19, and discusses their plans to safeguard theatre productions in a…
AUB Group confirms Tyser deal talks
The Australia and New Zealand-based broking and underwriting group said no terms have been agreed.
Analysis: The inflation challenge
The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning…
New RSA CEO Ken Norgrove promises to fix current “average” broker service
The insurer is keen to grow in SME in partnership with brokers but will not be targeting micro business.
Tasker Insurance Brokers becomes Jensten as group streamlines brands
The Jensten Group has a revealed a transformation programme to simplify its corporate structure, systems, and brands.
Aviva takes Charlotte Jones from RSA as CFO
Aviva has been looking for a new CFO since Jason Windsor resigned in January.
Think Insurance makes first broker buy
The motor and niche specialist has added to its commercial offering led by Russell Bence.
People Moves: 28 March - 1 April 2022
Keep up-to-date with the top personnel stories on Insurance Age.
R&Q agrees £482m sale to Brickell
The deal would give shareholders a premium of around 20% on yesterday’s closing price.
Lloyd’s picks 11 for latest lab cohort
The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims.
Q&A: Julie Rayson-Flynn – Brokerbility director
The Brokerbility leader shares her hopes and plans for the next 12 months as she tackles the challenges and opportunities for networks and federations in 2022.
KGM buys Eridge Underwriting Agency
The MGA forecast the combined business will underwrite £175m in gross written premium this year.