United Kingdom (UK)
6% of FCA financial promotions cases caused by GI & Protection
The Financial Conduct Authority has revealed the general insurance and protection sector accounted for 6% of its workload in the final quarter of last year against firms breaching financial promotion rules.
Weather-related domestic damage cost insurers £585m in 2024, says ABI
The Association of British Insurers has calculated insurers paid out a record £585m for weather related damage to people’s home and possessions in 2024.
Flood Re calls on government for £1bn flood defence spending
Flood Re has urged the government to spend at least £1bn a year to keep pace with changing climate risks and ensure the protection of homes and businesses in the UK from the devastation flooding brings.
Grove & Dean grows revenue and profits in “challenging” year
Niche motor specialist Grove & Dean grew turnover by 2.4% to £18.03m in the year ended 30 May 2024 with the broker’s profits rising faster.
FCA actions against misleading financial adverts nearly doubles in 2024
The Financial Conduct Authority intervened to get nearly 20,000 financial promotions withdrawn or amended in 2024, almost double the amount compared to 2023.
People Moves: 3 – 7 February 2025
Stay in the loop with the latest personnel moves in insurance.
Interview: Nick Harris – listening and helping on the Gallagher Way
Nick Harris tells Insurance Age about returning to the UK market after a 14-year stint in Australia, why a transitioning market is “when really good brokers stand out”, and shares his key questions to staff after becoming UK and Ireland retail CEO at…
Macbeth makes first deal in years buying Insurance Services Surrey
Macbeth has made its first purchase in almost four years with the acquisition of Guildford-based Insurance Services Surrey, its third ever buy.
Northern Ireland tops table for account exec pay rises
Insurance account executives in Northern Ireland had the highest percentage pay rises in the UK last year, with London-based employees still having the top wage but getting the smallest rate increase, according to a survey by Reed.
Allianz UK reveals detected fraud up 10% to £157m
Allianz UK has confirmed it uncovered 33,027 instances of insurance fraud worth a total of £157.24m in 2024, up 10% on 2023.
Allianz UK ‘lucky’ to have Phuong Ly, according to Australian insurance specialists
Australian insurance experts are positive on Allianz Commercial UK’s recent appointment of Phuong Ly telling Insurance Age he is a “great addition”.
Howden ‘absolutely not done’ with buying in the UK
Howden is targeting £10bn of revenue by 2030, having broken through the £3bn barrier last year, and is keeping its eye on the ball for organic growth and buying in the UK, according to CEO David Howden.
UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
ZPC extends high net worth wordings and reaffirms growth appetite
Kevin Morton, head of Zurich Private Clients, has committed to brokers that the business is in the high net worth market for the long-term as he unveiled a raft of policy enhancements in motor and home wordings.
New Arch UK MD bolsters regional division
Arch has made four senior promotions to new regional manager roles across the UK reporting to Mike Bottle, managing director of its UK Regional Division.
Ogden completes exec team with Godwin as COO for UK & Ireland at HDI
HDI Global has appointed Geoff Godwin from AIG as chief operating officer reporting to Stephanie Ogden, CEO for UK and Ireland.
Schemes growth planned as Brokerbility MD Dunn given group role at Clear
Brokerbility managing director John Dunn has been handed a new broader remit as part of the parent Clear Group’s efforts to grow its schemes business.
Miller signs up to buy AHJ
Miller has struck a deal to buy UK headquartered Alwen Hough Johnson, a reinsurance broker that also places business in a number of niche insurance lines.
Hiscox hires from rival to launch new FI offering
Hiscox has launched a new financial institutions offering, headed up by Joe Dearsley who has joined from Liberty Specialty Markets.
Ecclesiastical crackdown uncovers more than £4m in fraud
Ecclesiastical uncovered more than £4m in fraudulent claims last year, almost £1m more than in 2023, in an ongoing crackdown.
SSP Broker adds 10 insurer schemes in 2024 with 10 more planned this year
Managing director Martyn Mathews has targeted adding 10 insurer schemes onto SSP Broker this year, matching the achievement last year.
David Enoch retires from NIG and RSA
David Enoch, distribution and proposition director at RSA, is retiring after five years at the insurer and NIG during his 40 years in the financial services industry.
Aon maintains commercial organic growth at 5%
Aon has posted 5% organic revenue growth in its commercial risk solutions division for last year, the same as achieved in 2023.
Ex-Aviva boss Mark Wilson joins Policy Expert as chair
Former Abacai and Aviva leader Mark Wilson will join Policy Expert as chair next month with current chair and CEO Steve Hardy focusing on his CEO role.