United Kingdom (UK)
James Hallam rebrands Scottish buys
James Hallam has rebranded CCRS and Broker Scotland, having snapped up the Scottish brokers in August 2022.
EY pegs UK motor NCR at decade worst 109.5%
The UK motor insurance market experienced its worst performing year in a decade in 2022, with further losses expected this year, according to EY’s latest UK Motor Insurance Results report.
CDL grew turnover in 2022, but profit slipped as R&D boosted
CDL has reported a 3.56% rise in turnover to £55.68m for the year ended 30 September 2022.
PRA warns insurers on claims inflation and under-reserving
The Prudential Regulation Authority has written to insurers flagging the need to monitor the hit to reserves from ongoing claims inflation and act accordingly.
My Insurance Downtime: Momentum Broker Solutions operations director Hazel Westwood
Momentum Broker Solutions operations director Hazel Westwood gives a glimpse into her life outside insurance.
Insurtech Innovative Risk Labs enters Lloyd's
Innovative Risk Labs has staked a claim for being the first-ever broker of its kind to secure a license to operate within the Lloyd's market.
Start-up broker boss eyes big growth amid property sector turbulence
The boss of a new property broker believes customers need faster service than ever amid the current issues facing the property market.
Lemonade gets UK carrier licence from PRA
The Prudential Regulation Authority has granted insurtech Lemonade a UK carrier licence.
People Moves: 19 – 23 June 2023
Keep up to date with the latest insurance personnel moves.
JMG strengthens in southern England with further Southampton buy
JMG Group has bought commercial insurance broker GR Marshall, its second deal in Southampton this year.
Partners& grows in Scotland with Hart Insurance Brokers acquisition
Partners& has extended its geographical presence through the central belt of Scotland, adding Hart Insurance Brokers.
Allianz promotes Nick Hobbs to UK chief distribution officer
Allianz has appointed Nick Hobbs as chief distribution officer for Allianz Commercial in the UK, Insurance Age can reveal.
CII and PFS row erupts again with two PFS director resignations
Two independent directors of the Personal Finance Society have resigned and committed to proposing a motion at the PFS annual general meeting in September to block the Chartered Insurance Institute or another entity from gaining control of its £19m funds.
A ‘moral commitment’ - Aon and Lloyd's partner to help Ukraine
Aon and Lloyd’s have partnered with an insurer to support Ukraine firms and ‘restore well-being’ to the war-ravaged nation.
Commercial Express teams up with Brit and Ascot for shop scheme
Managing general agent Commercial Express has unveiled a new shop scheme.
MGA backer Accelerant Insurance Europe’s GWP soars to €662m
Accelerant Insurance Europe’s gross written premium tripled in 2022, according to regulatory filings.
Biba continues associate expansion adding APR
The British Insurance Brokers’ Association has added general insurance actuarial resource provider APR as an associate taking its total up to 46.
Saga reveals fall in broking policy sales
Over-50s specialist Saga has reported a 7% drop in home and motor insurance policy sales in its broking division despite customer retention ticking up from 83% to 85%.
Simply Business parent Xbridge posts revenue rise but profits slip
Online broker Xbridge, which trades under the name Simply Business, saw a slight fall in profits in 2022 as revenue grew by 13%.
Insurance market pays respects to ‘true character’ Terry Wellard
The insurance industry has paid its respects following the passing of former Edgar Hamilton Group chairman and well-known insurance personality, Lloyd’s broker and philanthropist Terry Wellard, aged 82.
Intelligent AI platform targets closing commercial property underinsurance gap
InsurTech Intelligent AI has launched its Intelligent Rebuild Cost Validation Platform, designed to address the long-standing challenge of underinsurance in the commercial property market.
Spike in number of young entrepreneurs launching insurance businesses
The number of 18 to 25-year-olds starting their own brokers or insurance related companies increased significantly last year as the start-ups market also grew, according to research by Instant Offices.
Aviva leader Blanc and Marsh McLennan UK boss Lay detail top risks facing UK firms
Aviva CEO Amanda Blanc and Marsh McLennan UK CEO Chris Lay have detailed the top risks facing UK firms.
Academy Insurance updates on sale after deal fell through
Personal lines specialist Academy Insurance Services’ shareholders are going through due diligence in a sale process, according to a filing at Companies House.