Financial lines
Downey on getting Pen to £1.75bn by 2030
Having hit its goal of £1bn gross written premium a year early in 2024, Pen Underwriting has set its sights on £1.75bn by 2030. CEO Tom Downey tells Insurance Age about the strategy of organic growth, product development and acquisitions now in place to reach the milestone.
MGA takes another Axa leader with CUO hire
Optio Group has appointed the former Axa director of schemes and delegated authorities Gary Head as chief underwriting officer, effective immediately.
UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
Pen promotes Breslin to lead new commercial arm as Webb retires
Pen Underwriting has announced a restructure following the decision by Richard Webb, MD of UK Financial Lines and Specialty Liability, to retire in June this year.
Hiscox hires from rival to launch new FI offering
Hiscox has launched a new financial institutions offering, headed up by Joe Dearsley who has joined from Liberty Specialty Markets.
Bottle to lead Arch in the UK following Bashford retirement
Arch Insurance International has promoted Mike Bottle to the role of managing director of the Arch Insurance UK regional division, with immediate effect.
Meet the MGA: Kayzen Specialty
Kayzen Specialty founder and CEO Charles Boorman explains to Jonathan Swift his plans for the MGA to be a go-to market for financial lines through continuous improvement across its three pillars of broker-centric, underwriter-fronted and tech-focused.
UK pricing continues down – Marsh
Insurance rates in the UK fell 3% in the second quarter of 2024, continuing on the downwards trajectory from the previous three months, according to the latest research by Marsh.
Meet the MGA: Rokstone
Ian Anson, MD of Rokstone, highlights talent that passes the ‘BBQ test’, an entrepreneurial culture and deep relationships with capacity providers as key to it achieving its goal of stretching the boundaries of what an MGA can offer.
C-Quence seeks to “unleash” digital tools and target schemes after Sompo tie-up
C-Quence is looking to “unleash the breadth” of its digital capabilities and target more schemes business having switched capacity provider for its property and casualty and property owners propositions.
CFC updates fintech insurance cover
CFC has made a “major overhaul” to its fintech insurance cover in the UK, Canada and Australia, across both professional service and technology exposures.
Wallace: QBE reaping benefits of focus on ‘holy grail of service’
QBE’s consistency and lack of upheaval in contrast to some of its peers has helped it become a “viable alternative” for regional brokers.
Casper adds Chaucer and TMK as capacity backers
Casualty-focused managing general agent Casper Specialty UK has secured capacity from Chaucer and TMK as it enters its second year of trading.
UK commercial insurance rates fell 2% in Q1 - Marsh
UK commercial insurance rates fell by 2% in the first quarter of 2024, whereas those in the global market rose 1%, according to the latest research by Marsh.
Canopius launches investment management cover
Canopius Group has launched an investment management product for asset managers, with the aim of responding to shifts in the risk landscape in the highly-regulated asset management sector.
Allianz has all the ingredients to be the go-to on mid-market for brokers, says Carey
Dave Carey, managing director for mid-market at Allianz Commercial, is upbeat on the prospects for the insurer working in partnership with brokers as he reveals the characteristics-based underwriting approach for 2024.
Coalition targets Northern brokers with senior Allianz hire
Cyber insurance specialist Coalition has appointed Gareth Machin as its first Manchester-based underwriter in the UK.
First fall in years as UK commercial pricing slips 1% in Q3
Pricing in the UK commercial insurance market fell by 1% in the third quarter of 2023, ending years of market hardening, research by Marsh has revealed.
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.
Profile – Stephanie Ogden, HDI Global: Making a difference
Having progressed from a graduate trainee in Guildford to Allianz branch manager in Scotland, and via Lloyd’s in London to UK & Ireland managing director for HDI Global, Stephanie Ogden is ready to take brokers on the next step of the German-owned…
Swindle targets doubling Ardonagh UK commercial MGA in three years
Ardonagh’s UK Commercial MGA CEO Jaime Swindle is targeting doubling the size of the business in the next three years taking it into the region of £500m gross written premium.