United Kingdom (UK)
Bissell & Partners adds Lloyd’s broker status to offering
Bissell & Partners has been authorised as an independent boutique Lloyd’s insurance broker.
ABI publishes guide on improving support for autistic customers
The Association of British Insurers has published a good practice guide for the insurance and long-term savings industry on supporting autistic customers.
Esure posts trading and post-tax losses for 2023
Esure swapped a trading profit of £49.8m in 2022 for a loss of £16.7m last year, the insurer has confirmed.
Jensten buys hair and beauty specialist Henry Seymour & Co
Jensten has bolstered its schemes offering by buying Henry Seymour & Co, adding 66,000 policyholders to the business.
TBIG ups stake in PHP Insurance to 80%
The Broker Investment Group has increased its investment in Macclesfield-based chartered insurance broker PHP Insurance to 80%.
Applied updates on commercial push
Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.
GIC completes Miller deal
Institutional investor GIC has completed the takeover of Miller, buying out previous co-investor private equity house Cinven.
People Moves: 25 – 28 March 2024
Keep up to date on the latest personnel changes in insurance.
Lloyd’s reports £10.7bn pre-tax profit for 2023
Lloyd’s swung back into the black in 2023 with £10.7bn of pre-tax profit reversing a red ink loss of £800m the year before.
Ardonagh boosts adjusted Ebitda by a third to $649.6m
Income at Ardonagh rose 29.1% last year to $1.99bn (£1.59bn) on the back of organic growth and 67 acquisitions.
Nine ghost broker actions in police counter-fraud Operation Henhouse
Police officers from the Insurance Fraud Enforcement Department have served nine cease and desist notices over a two-week period to help tackle ghost brokers.
Motor MGA KGM adds Ciaran Astin as managing director
Ciaran Astin has joined specialist motor managing general agent KGM as managing director, succeeding interim CEO Paul Kneafsey.
Gracechurch awards inaugural regional underwriting marques to Arch and Allianz
Independent insurance research consultancy Gracechurch has handed Arch and Allianz Commercial accolades as its first UK regional market underwriting service quality marque achievers.
Pool Re treaty modernisation to enable more flexibility for members
Pool Re members and HM Treasury have backed the board’s proposals to transform the government-backed terrorism reinsurer, switching the model of the scheme’s offering in a move the carrier stated would keep it relevant and fit for purpose in the digital…
New MGA aims to combat broker frustrations with PI
A new managing general agent has launched targeting mid-market SME professional indemnity business.
FCA warns insurers, again, on undervaluing total loss motor claims
The Financial Conduct Authority has confirmed finding evidence that suggests motor insurers are offering customers less than the full value of written-off or stolen vehicles and, in some cases, only increasing offers when a customer complains.
MarshBerry: Deal pricing to stay strong in 2024 but unlikely to go higher
Competition among consolidators supported insurance distribution deal prices in 2023 with ongoing demand likely to keep it robust this year, M&A specialist MarshBerry has calculated.
Law firm closures due to lack of PI slows down
A total of 34 law firms closed due to lack of professional indemnity insurance in 2022/23 up to the end of October, the lowest level since 2018/19.
HDI Global reports 2023 growth with UK and Ireland boost
Talanx Group-owned HDI Global has reported growing insurance revenue by 10% to €9.1bn (£7.8bn) in 2023 as it highlighted expansion in the UK and Ireland.
Deal volume up but M&A value down in 2023, says MarshBerry
The value of UK insurance distribution deals fell to £3.9bn in 2023, down 8% on the year before, despite M&A volume returning to record levels, according to MarshBerry.
Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
The Competition & Markets Authority has cleared Markerstudy to pursue its proposed £1.2bn acquisition of Ardonagh-owned personal lines broking arm Atlanta.
Broking Success: Embracing technology
Mark Thomas, founder of Compare Insurance, is looking to harness the power of technology even further to continue the pace of 60% growth the business achieved last year.
Chaucer to enter weather insurance market with parametric BI
Chaucer has revealed plans to enter the weather insurance market, starting with a parametric product to cover non-damage business interruption.
Axa Commercial names Paul Tombs as director of SME Intermediary
Axa Commercial has appointed ex-Zurich leader Paul Tombs as director of its SME Intermediary business, starting in the summer.