United Kingdom (UK)
RSA launches mid-market PI product for contractors
RSA has launched a design and construct professional indemnity product.
Brokers pledge to stop sharing building commissions and cap fees
Five top 100 UK broking groups have pledged to end sharing building insurance commissions with landlords and to cap fees. However, many others have not signed up including Gallagher UK who has refused to back the pledge in its existing version over…
EY: 2022 was worst year on record for UK home insurer profitability
The UK home insurance market faced the worst performing year on record in 2022 with a loss-making net combined ratio of 122%, according to EY’s annual UK Home Results Analysis.
NFP expands in West Midlands with second deal this month
NFP has bought Resolute Insurance Services, an independent insurance broker based in the West Midlands, further growing its presence in the region.
Applied Net 23: Priority number one has been, is, and will be commercial – says Europe CEO Tom Needs
Achieving parity with competitors on commercial panel size, and boosting the Epic broker base to 150 in the UK, are the twin targets for Applied Systems Europe in 2024, CEO Tom Needs has confirmed.
My Insurance Downtime: Jade Sugg, account handler at Russell Scanlan
A Nottinghamshire native and avid paddleboarder, Jade Sugg, account handler at Russell Scanlan, shares an insight into life outside the broker’s Wellington Circus home.
People Moves: 23 - 27 October 2023
Stay in the loop with the latest insurance personnel moves.
What can MGAs learn from the latest turbulence among capacity providers?
The problems at Accredited and Vesttoo highlight the need for managing general agencies to have good risk management in place on their capacity arrangements.
Financial uncertainty ranked as the biggest concern for UK businesses, according to Marsh
Companies across the UK are the most concerned about the impact of financial uncertainty (34%) over the next year, knocking people-related risks (31%) off the top spot, according to the 2023 Marsh UK Business Risk Report.
Telematic providers becoming less competitive as capacity drops
A new report has found telematic insurance providers are becoming less competitive, accounting for just 17% of the top five motor quotes between May and August 2023. This compares with 21% the previous quarter, which particularly effects young drivers.
Applied Net 23: Power shifting to brokers, says Applied boss Taylor Rhodes
Applied Systems is picking up the pace, with brokers in the UK having grabbed more market share this year, according to CEO Taylor Rhodes.
Romero explores sale options as consolidators circle
Romero, one of the UK’s largest independent brokers, is exploring sale options, Insurance Age understands.
Aviva ramps up cyber push with micro-SME cover from £50
Aviva today launched its Cyber Respond product, imploring brokers to help educate and reduce ‘apathy’ among the massively underinsured micro business community.
Applied Net 23: AI to help brokers suffering from a ‘barrage’ of information requests
Applied Systems is launching first use cases of artificial intelligence on two platforms in the US on 24 October, chief product officer Anupam Gupta told Insurance Age at Applied Net 23.
Jensten makes first move outside UK as it snaps up Berns Brett
Berns Brett has been purchased by Jensten in a run of deals for growth in regions and specialisms by the Livingbridge-backed consolidator.
Spring CEO Tristan Sargeaunt on how he plans to double GWP in three years
Tristan Sargeaunt, CEO of MGA Spring Insure, has eyes for growth, as the business plans to at least double its gross written premiums from 30m GWP by 2026.
People Moves: 16 – 20 October 2023
Keep up to date with the latest personnel moves in insurance.
RSA’s service vow to brokers one year on: Has it delivered?
In 2022, RSA published its strategic roadmap to 2025. The insurer vowed to raise service standards for brokers. Has it delivered?
Abbey boosts profits by 15% in 2022
Abbey Insurance Brokers, which trades as AbbeyAutoline, grew post-tax profit by 15.2% to £2.6m in 2022, with turnover also rising.
Opinion: How sustainable partnerships are the key to navigating a changing HNW market
Kevin Morton, head of Zurich Private Clients, tackles the challenges brokers face with reduced capacity and appetite in the high-net-worth market arguing insurers with stable and sustainable propositions will ultimately win out.
FCA data reveals spike in insurance skilled persons reports
The Financial Conduct Authority has revealed commissioning seven skilled person reports across the general insurance and protection sector between July and September.
Aviva awards £300,000 of funding to 65 good causes
The Aviva Broker Community Fund awarded £300,000 of funding to 65 projects and charities across the UK at its annual awards event held at the Honourable Artillery Company in London on Tuesday.
Ex Chubb, Axa XL and Aviva HNW boss Simon Mobey on moving into broking
Simon Mobey spent 38 years working for insurers. Having jumped the fence to be executive director of Dover Street Insurance Brokers, and set up its office in Manchester, he tells Insurance Age about his excitement for the job and the plans to double the…
Biba delivers fair value assessment framework
The British Insurance Brokers’ Association has launched a fair value assessment framework, after the Financial Conduct Authority took aim at brokers in its review of flat insurance costs.