Motor
Markerstudy reveals £63m Clegg Gifford purchase bill
Markerstudy has confirmed it spent £63.63m on snapping up Clegg Gifford Holdings and its subsidiaries last year.
Addept Insurance boosts capacity for double product launch
Addept Insurance Services has partnered with Ortus Underwriting with underwriting capacity provided by Great American International Insurance (UK).
Saga confirms talks with Ageas over insurance “partnership”
Saga has today confirmed it is in discussions with Ageas with “regard to a potential partnership arrangement for its insurance business”.
Lucida keeps turnover stable in 2023 but Ebitdae dips
Motor specialist broker Lucida has posted flat turnover of £47.59m for 2023.
Kingfisher creates new motorsports arm following broker buy
Kingfisher Insurance Services has acquired MIS Motorsport’s commercial business in the UK and Ireland.
PwC tips Northern Irish motor premium to drop 15% after Government review
Motor insurance premiums for Scottish and Northern Irish drivers have been tipped to decrease by an average of £60 (10%) in Scotland and £90 (15%) in Northern Ireland following a Government review.
Allianz promotes to bolster personal lines broker team
The Allianz personal lines broker business has strengthened its leadership team and promoted Victoria Price to director of broker propositions.
Motor leads the way as insurers detected 14% more fraudulent claims in 2023
Insurers detected £1.1bn worth of fraudulent claims last year, up 4% on 2022, according to the latest cross-industry figures.
Blog: Are insurance add-ons still relevant in 2024?
Julian Tomlinson, chairman of Alps, argues some insurance add-ons are more vital for policyholders today than they’ve ever been.
QBE opens “benchmark” Leeds office with more broker contact promise
QBE has opened a new office in Leeds making a £3.6m investment in the city for its second largest European site.
Ex-Esure, L&G and Direct Line boss Peter Graham joins Markerstudy
Former CEO of Esure Peter Graham has been appointed as non-executive chairman (designate) of Markerstudy Insurance Services.
Ghost broker handed two-year suspended prison sentence
A man who sold invalid insurance policies and tried to take out car insurance for himself by covering up his driving offences and using a fake no-claims discount certificate has been sentenced to two years in prison, suspended for two years.
Premium Choice pushes beyond £10m in 2023
Personal lines motor specialist broker Premium Choice took turnover up to £10.53m in 2023 having broken through the £10m barrier the year before.
Esure owner Bain eyeing up sale – report
Esure is possibly up for sale, as private equity firm Bain Capital has lined up advisors, according to Reuters.
Markerstudy-bound Hughes posts stable turnover and profit for 2023
Northern Ireland-based broker Hughes, currently in a sales process to Markerstudy Group, maintained post-tax profit at £2m in 2023 with turnover consistent of more than £13m.
Moody’s improves outlook for UK property and casualty insurers to stable
Moody’s has changed its outlook for UK property and casualty insurers to stable from negative, noting prices for personal lines cover, such as motor insurance, have risen sufficiently to absorb claims inflation.
Which? sounds the alarm again on “eye-watering” motor and home insurance interest rates
Research by Which? has revealed the average annual percentage rate for motor insurance on monthly premium finance at 22% and 20% for home policies.
Biba calls for IPT cut in Autumn Budget
The British Insurance Brokers’ Association has urged the government to cut the headline rate of insurance premium tax from 12% to 10% in the Autumn Budget on 30 October.
Cinven buys half of Policy Expert
Private equity house Cinven has signed up to buy 50% of Policy Expert from the Abu Dhabi Investment Authority.
Allianz reveals rise in cloned businesses motor fleet fraud attempts
Allianz UK has reported a “marked increase” in fake or cloned businesses claims coming through in the first half of the year, as it also highlighted strong collaboration with brokers has further heightened fraud awareness and detection.
SRG adds to MGA offering with Capulus
Specialist Risk Group has purchased Capulus, a specialist motor fleet managing general agent, based in Wales, and will build out SRG's MGA MX which was launched in December 2021.
Ripe takes Alan Thomas from Simply Business as CEO
Digital MGA Ripe has swooped for Alan Thomas, the former UK CEO at Simply Business, as its new boss.
Alps teams up with Fortega on GAP sales
Fortegra Europe Insurance has partnered with Alps for the distribution of Guaranteed Asset Protection insurance.
Think strikes third buy in three years with Bromwich Insurance Bureau deal
Walsall-headquartered Think Insurance Services has secured its third Midlands-based deal buying Bromwich Insurance Bureau, Insurance Age can reveal.