United Kingdom (UK)
Open GI eyes pay-as-you-go market after Love Your Miles partnership move
Technology provider Open GI is eyeing up the growing pay-as-you-go market, after having entered the sector with online motor broker Love Your Miles in 2022.
Tysers exceeding expectations and forecasts, says AUB Group
Tysers delivered AU$18m (£10.16m) of pre-tax profit to AUB Group in the final three months of 2022, its new parent company has confirmed.
Customers, society and planet are at the heart of a three-year ABI strategy
The Association of British Insurers has rolled out a three-year strategy with a core focus of driving change to support customers, society and the planet.
Miller-linked new MGA Casper to focus on casualty
Managing general agent Casper Specialty UK has launched targeting the casualty market.
Brokers upbeat on growth but underinsurance concerns persist – Aviva research
Brokers are markedly more optimistic on growth, with 76% expecting their business to expand in 2023, up from 43% that had a positive outlook in 2022, according to Aviva.
Survey reveals pay concerns and potential further job-market churn
A survey by recruitment consultants Reed has revealed that a fifth of employees in insurance and financial services are actively seeking new job opportunities, and more than a third are considering looking for a new job.
CEO Peter Thompson leaving BGL
BGL Insurance CEO Peter Thompson is leaving the business on 28 February, Markerstudy Group has confirmed.
Covéa exits HNW motor line
Covéa is no longer writing business in the executive motor space for high net worth, Insurance Age can reveal.
Tysers sells bloodstock broking team and MGA Galileo to Howden
Tysers has revealed the sale of its bloodstock broking team and bloodstock managing agent, Galileo, to the “perfect new home” of Howden.
CII confirms John Bissell’s retirement
John Bissell will be retiring from his role as the Chartered Insurance Institute’s chief operating officer, and board member, in early April 2023.
Travel insurance provider TIF Group re-enters broker market
Travel Insurance Facilities Group has re-entered the broker market with a new dedicated portal.
Start-up broker targets £1m income in five years
Start-up broker Ash Tree Insurance, which specialises in the agriculture and the SME sector, is targeting £1m income in five years.
Covid and inflation costs bite as QBE International COR ticks up to 92.5%
QBE International has reported a combined operating ratio of 92.5% for 2022, which is up from 90.6% in 2021.
Premier Choice Healthcare buys Visibly Health and further PMI portfolio
Global Risk Partners-owned Premier Choice Healthcare has bought Visibly Health and, separately, a book of business controlled by self-employed consultant Gill Nicholson.
Are brokers bucking the trend of insurtech investment struggles?
According to a new Gallagher Re report, global insurtech investment fell in the fourth quarter of 2022 to its lowest level since the third quarter of 2020. Sophie Locke-Cooper details why some may be struggling even if there are signs of hope among…
Allianz reveals £32m December freeze hit and CEO Holmes predicts rate hikes to continue
Allianz Holding has revealed the impact of the winter weather on its bottom line, as CEO Colm Holmes forecast that the Q3 and Q4 rating hikes would continue into 2023.
Moneysupermarket details decline in searches following FCA pricing change
Moneysupermarket has posted insurance revenue of £172m, in the year ended 31 December 2022, compared with £158.7m in 2021.
Operating profit falls almost 60% at Allianz Holdings in 2022
Allianz Holdings has posted a 58.3% drop in operating profit to £132.3m for 2022 as its combined operating ratio deteriorated year on year from 93.2% to 99.2%.
People Moves: 14 – 17 February 2023
Keep up-to-date with the latest personnel moves within the insurance industry.
Two deals in a week as GRP buys Henshalls
Global Risk Partners has ramped up its acquisition spree again, buying Shropshire-headquartered Henshalls Insurance Brokers for an undisclosed sum.
AIG strikes MGA deal to drive expansion in high-net-worth markets
AIG has not ruled out UK and European markets following a deal with private equity-focused reinsurer Stone Point Capital to create a new managing general agency for HNW markets.
Colm Tully to head up Paymentshield
Colm Tully has been appointed to lead Ardonagh-owned Paymentshield, succeeding Rob Evans.
FCA signs off on PIB's £24m Jigsaw buy
The Financial Conduct Authority has approved PIB buying Jigsaw Insurance Services Plc, as the consolidator eyes a significant push into the personal lines market.
‘Double standards’ – fed up brokers urge FCA to improve authorisation times
Brokers are urging the Financial Conduct Authority to improve its authorisation speeds, and stressing that the current performance is damaging the industry.