United Kingdom (UK)
Analysis: Spotlight falls on personal lines amid consolidation frenzy
After a record breaking year for deals by value and volume, specialists analyse what is driving the market and where the acquisition rush will go next. Emmanuel Kenning reports.
Hiscox UK posts near 10% rise in GWP for 2021
The provider grew commercial lines business while personal lines shrank in the year.
FCA cap on CMC fees comes into force
Regulator claims consumers are expected save £9.6m a year.
FCA confirms scrapping bonuses
The regulator has unveiled a new pay deal against a backdrop of potential strike action.
RSA names Cath Frost as regions MD
RSA has appointed Cath Frost as regions managing director replacing Lee Mooney, who was promoted to managing director of RSA commercial lines in November.
Aon confirms cyber incident
Firm states its ability to serve clients has not been impacted by the event.
CII releases member consultation findings
The organisation had 1,149 responses via its online consultation and held 62 events.
Twining exits Kingsbridge
Paul Havenhand succeeds James Twining as CEO of Kingsbridge and Dinghy.
FCA dual pricing rules drive biggest monthly premium jump in eight years, says Consumer Intelligence
Average premiums for home insurance rose 9.1% in January while motor was up 4.9%, according to the specialists.
Modellers put Storms Dudley and Eunice losses at up to £4.1bn (€5bn)
RMS estimates top figure of £3.7bn (€4.5bn) with the UK accounting for around 15% of the total.
Brokers praise insurer response to storms claims
Storms Dudley, Eunice, and Franklin could cost UK insurers more than £400m in claims, according to Moodys.
Axa UK & Ireland P&C revenue rises as COR improves in 2021
The provider’s revenue in the region increased overall in the past 12 months as commercial grew but personal lines shrank.
Polaris imarket policy count ticks up to 490,000 for 2021
The organisation said the use of imarket to place commercial lines business was at an “all time high”.
Ageas investing in digital to win with brokers, says Middle
The provider has teamed up with EIS, Amazon Web Services and Willis Towers Watson on a range of initiatives.
MGA evolution can support broker independence, says Pro Global’s Danny Maleary
MGA leader assesses opportunities for brokers, changes in capital providers backing risks, market consolidation and the sector’s expansion.
Profits up at Ageas UK but income and COR slip in 2021
Insurer saw growth in home business but motor gross written premium fell to £676.5m.
FCA supports long-term economic growth objective
Regulators quizzed by Treasury Select Committee.
Wiser Academy relaunches insurance degree programme
Programme designed to help attract top talent into insurance straight from college.
Aviva confirms London HQ office search
Provider commits to staying in the heart of the City.
GRP to buy majority stake in Hamilton Fraser
Consolidator set to make third purchase of the year.
Cheshire broker rebrands as PHP Insurance
Firm targeting more acquisitions having bought Bradshaw Bennett in 2019.
M&A deals hit £6bn in 2021
The latest annual review published by IMAS explains the "M&A frenzy" and warns of challenges ahead.
Allianz focused on growth in 2022, says Holmes
Insurer posted a 9.4% rise in operating profit to £318m for 2021 but recorded a 3.2% fall in gross written premium to £3.8bn.
Allianz posts improved operating profit for 2021 but GWP slips
The provider reported a 3.2% decrease in GWP to £3.8bn.