United Kingdom (UK)
Aston Lark strikes deal to buy Allegiance Insure
Howden-owned Aston Lark has agreed terms to buy Allegiance Insure in its first acquisition of 2023.
Barbon aims to double £21m earnings in five years
Barbon aims to double its current £21m Ebitda over the next five years, new managing director Wayne Tonge has revealed to Insurance Age.
FCA brings broker role approval turnaround time down to 92 days
The Financial Conduct Authority has begun to improve its turnaround times for approving key general insurance broking roles, bringing the average down to 92 days from 105 days in 2021.
Apollo partners with Moonrock on drone facility
Apollo will be providing capacity to Moonrock Drone Insurance for a facility designed to provide cover for larger commercial drone operations.
Brokers hit as FCA authorisation sign-off lengthens to 237 days
The Financial Conduct Authority’s authorisation service for new brokers looking to trade general insurance business worsened up to the end of October 2022, a Freedom of Information request by Insurance Age has revealed.
US authorities notified of Marsh McLennan's controversial African pipeline involvement
US authorities have been alerted by human rights groups to Marsh’s involvement with the controversial building of an East African oil pipeline.
Allianz Commercial greens fleet policies in revamp
Allianz Commercial has refreshed its fleet policies to reduce repair times and prescribe the fitting of green parts.
Close Brothers Premium Finance recruits ex-Complete Cover boss Shaun Hooper as MD
Shaun Hooper has been appointed managing director at Close Brothers Premium Finance succeeding Seán Kemple who is moving to a broader CEO role.
News analysis: Solvency II - should brokers be worried about the impact the reforms will have?
The government’s Solvency II overhaul will likely start this year. Politicians want to relax capital requirements to unleash investment and make the UK a more competitive country. Others have concerns about insurer failures, reports Saxon East.
Broking Success: Prospering with a positive mindset
CEO Daniel Lloyd-John tells Insurance Age about the journey of Broadway Insurance Brokers, a 2020 start-up success story despite launching during Covid lockdown.
FCA's misleading ads block count rises 14 fold in a year
The Financial Conduct Authority forced firms to change or remove 8582 promotions in 2022 - 14 times more than 2021.
Specialty MGA UK buys commercial forest and plantation specialist
Recently launched Specialty MGA UK has expanded through the purchase of Forest Re.
Interview: Warren Dickson, Aston Lark
Aston Lark UK retail managing director Warren Dickson says the broker is a different period of expansion with office openings ahead. Navigating the struggling UK economy is also a challenge, but one he is up for.
EY predicts slowdown in premium growth as cost of living pressures bite
UK insurers face slowing premium income growth this year, as high inflation, cost of living pressures and a rise in borrowing costs continue to hit product demand, according to EY.
Aon names Matthew Alcott as UK CCO
Aon has named Matthew Alcott as UK chief commercial officer reporting to UK CEO Julie Page as well as the global CCO team, led by Michael Moran
FCA urges bosses to make Consumer Duty top personal priority in Dear CEO letter
Financial Conduct Authority leader Matt Brewis has written to general insurance businesses reminding them to embed the interests of customers into their firms’ culture and purpose.
Killer of insurance broker jailed for life with a minimum term of 12 years
A man who stabbed an insurance broker to death has been jailed for life with a minimum term of 12 years.
Fitch warns of ‘dire’ profitability for insurers in ‘bleak’ picture
The outlook for UK home and motor insurers’ profitability “remains pretty dire for 2023”, according to Federico Faccio, senior director of EMEA insurance at Fitch Ratings.
Aon reports 4% commercial organic growth for Q4 2022
Aon has posted $2.59bn (£2.11bn) of profit for 2022, up from $1.26bn the year before when it was hit by over $1bn of costs from the failed merger with Willis Towers Watson.
Aviva joins GAIN as Industry Transformer member
The Group for Autism, Insurance, Investment and Neurodiversity has welcomed Aviva as an ‘Industry Transformer’ member.
Zurich names James Nicholson as UK CCO
Zurich has named James Nicholson as UK chief claims officer with immediate effect.
PIB buys ABI in Italy
PIB Group has moved into the Italian market with its latest buy, expanding its portfolio, which already included offerings in Ireland, Germany, Poland, Spain and the Netherlands.
Brokers call for more support to help fight insurance fraud
More than three quarters of brokers surveyed by RSA said they needed more resources in fighting fraud, which is on the rise.
People Moves: 30 January – 3 February 2023
Stay up to date with the latest recruitment news in the insurance industry.