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Insurance surge of 28% drives 2023 revenue growth at Moneysupermarket
Aggregator Moneysupermarket grew insurance revenue by 28% to £220m last year as group revenue rose 11%.
Profile: Kelly Ogley, Howden – Growth strategy
Kelly Ogley, CEO of Howden Consumer and Local Commercial, outlines the firm’s growth strategy and urges women to back themselves.
Acturis seals personal lines win with First2Protect
Acturis has partnered with home, landlord and tenant insurance broker First2Protect after a competitive tender process.
Lloyds Banks’ LDC takes stake in Uinsure
LDC, the private equity arm of Lloyds Banking Group, has invested in Top 100 Broker Uinsure.
Home premiums up 4% in Q4 2023 – ABI
The average price of home insurance rose 4% in the fourth quarter of 2023, according to the latest Household Premium Tracker from the Association of British Insurers.
Fitch: Improving outlook for insurers but no room for complacency
The effect of “baked in” pricing improvements and easing economic headwinds gives an improving outlook for insurers this year, but will only make it less bad than 2023, according to Fitch.
Amazon to shut Insurance Store after just over a year
Amazon is closing its UK Insurance Store, which was launched with great fanfare in October 2022.
Qmetric reveals £41m loss in run-up to sale
Policy Expert owner Qmetric lost £41.06m last financial year ahead of being bought by the Abu Dhabi Investment Authority, which has gone on to invest £35m in the business.
Biba launches three claims guides for members
The British Insurance Brokers’ Association has unveiled three claims guides for members to use, to help customers better navigate the claims process for home, motor and travel insurance.
Review of the Year 2023: Pearson Ham's Stephen Kennedy
Stephen Kennedy of the Pearson Ham Group assesses how the phrase ‘unprecedented premium increases’ took centre stage in 2023 and why rates are likely to stabilise next year.
Home insurance prices rise a record 36% in a year
The average quoted home insurance price increased by 36.1% in a year to October, the highest annual rise on record, according to the latest Consumer Intelligence Home Insurance Price Index.
Policy Expert eyes accelerated growth after ADIA takes majority stake
Steve Hardy, CEO at Policy Expert, is confident that new majority backer ADIA understands the business and is well placed to support it going forward.
Prestige teams with Open GI on Coverall update
Prestige Underwriting has partnered with Open GI to launch a refreshed version of its non-standard home proposition, Coverall.
Bspoke signs up to buy Police & Forces Mutual personal lines books from Royal London
Bspoke Insurance Group has struck a deal to buy the personal lines elements of the Police & Forces Mutual businesses – Police Mutual Healthcare and Police Mutual General Insurance – from The Royal London Mutual Insurance Society.
Fear of AI often comes from fear of change, says Ignite MD MacLachlan
Having surged forward in the past two years, Ignite plans to continue growing by strengthening partnerships with insurers, expanding with brokers, via its Ignition programme and through the integration of its artificial intelligence-powered chatbot.
Tesco enters non-standard home with Prestige partnership
Tesco Bank has moved to offer non-standard home insurance to customers via a partnership with Prestige Underwriting.
Aviva uncovered £120m of fraudulent claims in 2022
Aviva has revealed that it uncovered more than 9,250 instances of fraud in 2022 – saving customers £120m.
Atec tops 300,000 policies as turnover nears £20m in drive to double
Atec Group, which includes wholesale B2B property specialist Ceta Insurance and managing general agent Arkel, has revealed 34% organic growth in turnover – a record for the business.
Source adds Prestige Underwriting to home panel as it rolls out first own product
Source Insurance has unveiled Source Home, the first home insurance product it has created, and confirmed that Prestige Underwriting has joined its panel as the inaugural underwriter of the new common worded offering.
EY forecasts 8.5% premium income growth for UK insurers in 2023
UK insurers are expected to end this year reporting strong overall premium income growth ahead of further, but slowing, expansion in 2024 and 2025, according to EY.
EY: 2022 was worst year on record for UK home insurer profitability
The UK home insurance market faced the worst performing year on record in 2022 with a loss-making net combined ratio of 122%, according to EY’s annual UK Home Results Analysis.
Moody’s stays negative on outlook for UK insurance
Ratings agency Moody’s has kept its negative outlook on the prospect for UK property and casualty insurance warning of higher reinsurance costs and pressure on personal lines margins as price growth lags inflationary cost increases.
Arkel Underwriting targets landlord growth with Applied expansion
Arkel Underwriting has rolled out its landlord product, Premier Let, on Applied Systems in its second partnership with the software provider in a matter of months.
One Call boosts policy count and profits in 2022
Doncaster-headquartered One Call Insurance Services has posted double digit increases in profits and policy count for 2022.