Motor
More acquisitions on the horizon for Seventeen Group
Seventeen Group is poised to strike more deals before the end of this year and into 2023 with European expansion on the agenda, according to CEO Paul Anscombe.
Trade credit joins cyber as a challenging market – Aon
Pricing in the UK market continued to harden across all classes in the second quarter except for directors and officers’ insurance, according to the latest report by Aon.
H&H expands in Wales with Wrexham office
H&H Insurance Brokers has opened an office in Wrexham to be its administrative hub for its Wales operation.
Aston Lark buys AJ Insurance Service
Aston Lark, a Howden company, has acquired Essex-based AJ Insurance Services for an undisclosed sum.
Urban Jungle expands into motor insurance
Insurtech Urban Jungle has launched its new car insurance service which offers both home and car cover.
People Moves: 15-19 August 2022
Keeping you up to date with the top personnel changes in insurance.
Experts warn that cost of living crisis could increase ghost broking cases
The sky-rocketing cost of living and the longer term economic effects of the pandemic could lead to an increase in ghost broking, experts have warned.
Policy Expert targets doubling within five years, says CEO Steve Hardy
Policy Expert is aiming to double its one million customer count through further organic growth, adding new lines and potentially international expansion and acquisitions in the next five years, according to CEO Steve Hardy.
Aviva UK sees COR deteriorate and operating profit slip
Aviva UK’s combined operating ratio for H1 2022 has deteriorated to 95.6% and operating profit dropped to £159m from £169m in the same period last year.
Ageas names Claire Green as director of distribution
Ageas has appointed Claire Green as its new director of distribution in a move it said was further evidence of its commitment to the personal lines broker market.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
Jensten buys MGA Origin
The Jensten Group has bought SME specialist managing general agent Origin UW for an undisclosed sum.
First Underwriting launches real estate product range
First Underwriting has added real estate expertise to its team and launched real estate product lines as it seeks to expand from its core motor proposition.
Car insurance premiums up 6% in the last 12 months
The cost of comprehensive car insurance rose by £32 in the last 12 months, according to research by Confused and WTW.
Drop in insurance pricing complaints at FOS
The Financial Ombudsman Service has highlighted a 33.4% fall in complaints about insurance pricing in 2021/22.
WTW warns of accelerating motor claims inflation
WTW has warned UK motor claims inflation is expected to accelerate in 2022 after pandemic disruption caused a slowdown in the average time taken to settle claims which acted as a temporary break on rises.
Sabre warns of surging claims costs as motor GWP and profit drops
Gross written premium in Sabre’s motor book has dropped around 10.6% compared to the same period in 2021, the insurer has revealed in its half year results.
Zego confirms redundancies
Insurtech motor specialist Zego has told staff that it will be cutting its headcount by 17%.
Roundtable: How can brokers blossom in the ever-evolving EV market?
The electric vehicle and hybrid market is set to grow exponentially in the next decade as UK motorists are encouraged to transition from internal combustion engines. Our expert panel and sponsor AX learn more.
Insurtech app Honcho shuts up shop
Motor specialist Honcho has closed for business after three years of trading citing difficulty acquiring customers and the competitive environment as reasons for the closure.
Car premiums up 7.8% since start of 2022
The cost of car insurance has risen 7.8% since the start of the year after new rules came in to tackle the practice of “price walking”, research by Consumer Intelligence has revealed.
Motor market profitable in 2021 but losses predicted for 2022 and 2023
UK motor insurers achieved a profit in 2021 but will slip back into the red this year and next, EY has forecast.
Freedom Services Group launches 4-day week pilot
Freedom Services Group is rolling-out a four-day work week scheme to give staff back time with no salary reduction.
Brokers call for better claims communication from insurers
Brokers want better communication and more of a personal touch from insurers when dealing with complex claims, according to a survey by Allianz.