United Kingdom (UK)
Profits and turnover up at Reich in 2022
Reich Insurance Brokers increased revenue organically by 10.4% to £14.68m in the year to 31 March 2022.
Jensten Group snaps up schemes broker Darwin Clayton
Jensten Group has bought schemes broker Darwin Clayton for an undisclosed amount.
Accredited Europe looks to partner with UK MGAs as premium nears £500m
Randall and Quilter’s European program arm, the capacity backer of Policy Expert and Inperio, is looking to partner with UK managing general agencies.
Ansvar rolls out clubs, groups and societies cover
Ansvar, part of the Benefact Group, has launched a clubs, groups and societies policy for associations or organisations dedicated to a particular interest or activity.
Insurers could face £10m claim from paralysed female rugby player
A female rugby player has won compensation, which could reach £10m after a tackle from an opponent left her paralysed.
UK leads on insurer M&A while MGA market ‘buoyant’
The UK led the way on carrier mergers and acquisitions in Europe during 2022, as the overall region saw 127 deals – a 1.6% year-on-year rise.
Fleet specialist Flock secures $38m in funding
London-based insurtech Flock has raised $38m (£31.7m) in series B funding led by Octopus Ventures.
Davies names Allison Carr UK & Ireland CEO in group reorganistion
Davies Group has unveiled a new group structure as it aims for global growth.
People Moves: 20 – 24 February 2023
Follow the latest insurance personnel moves.
Amb Insurance Services doubles with Mercer Jones & Company buy
Newcastle-under-Lyme-based Amb Insurance Services has snapped up Stoke on Trent-based Mercer Jones & Company taking its gross written premium up to £6m.
Axa grew UK and Ireland revenue 4% in 2022 but COR deteriorated to over 100%
Axa has posted €3.74bn (£3.3bn) of revenue in the UK and Ireland for 2022, up 4% from the previous year on a comparable basis, with growth in both commercial and personal lines.
Zurich flags rise in commercial crime claims as firms face average losses of £140,000
Theft at work in England and Wales has jumped by a fifth (19%), according to data released by Zurich.
Ageas confirms €23m December freeze hit as UK GWP drops
Ageas has reported an 11% fall in UK gross written premiums in 2022.
The Broker Investment Group supports first broker acquisition since rebrand
The Broker Investment Group-backed Beam Insurance has snapped up a medical insurance broker, and has plans to ramp up acquisitions.
Opinion: Tips to get your clients’ claims across the line quickly
Getting claims paid is not as straightforward as it once was, according to Malcolm Harvey, founder and executive director of Qlaims. Here, he explains a few hacks that might at least help speed up settlements.
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.