Motor
Interview: Addept Group managing director Richard Finan
Addept MD Richard Finan gives Insurance Age the lowdown on his return to the market; his thoughts on changes to the MGA market in the wake of Consumer Duty; and the challenges of creating ancillary products in a post-FCA GAP intervention world.
Car premiums drop for second quarter in a row
Comprehensive car insurance premiums fell by 6% (£59) between April and June 2024, the second quarter of decreases according to the latest research by Confused/WTW.
Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
Addept looks to go live in Q4 as it finalises capacity deals
Wholesaler Addept Insurance Services has revealed it plans to sell its first product in the fourth quarter, as it strives to hit a target of £5m net written premium by year three.
EY records worst motor performance since 2011 with 112.8% NCR
The UK motor insurance market experienced its worst performing year since 2011 last year, recording a loss-making net combined ratio of 112.8%, according to EY’s latest UK Motor Insurance Results.
Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
Interview: Nick Hobbs, Allianz Commercial
After the hardest but most energising 12 months of his career, Allianz Commercial’s chief distribution officer Nick Hobbs celebrates the insurer’s expanded appetite as he looks to bring even more quotes and solutions to brokers.
Ardonagh Advisory notches up fifth buy of 2024
Ardonagh Advisory has acquired Rollinson Smith Insurance Brokers, a community broker servicing the Shropshire, Staffordshire, West Midlands and North Wales regions with a reach in London and other areas of the country.
Biba calls on Labour government to act on broker commissions and fees
The British Insurance Brokers’ Association has called on the new Labour government to introduce secondary legislation in relation to the Leasehold Reform Act to allow for broker commissions and fees to be deemed permitted insurance payments as they are…
Partners& adds SEP bolstering North West footprint
Partners& has revealed its second deal in a week, buying Merseyside-based broker SEP Insurance.
AbbeyAutoline buys Martin Carey Insurance book
AbbeyAutoline has bought the customer book of business of Lisnaskea-based Martin Carey Insurance.
Brokers lacking when it comes to commercial motor FNOL best practice
Brokers are lagging in educating commercial motor clients on the best practice when it comes to first notification of loss procedures.
Application and ghost broking motor fraud up 64% at Aviva
Aviva spotted fraud on more than 51,000 motor policy applications last year, up 64% on its 2022 detection figures, the insurer has revealed.
The stats: Q1 2024 - Commercial combined slows to near halt
The year has started with almost no average premium growth in commercial combined while fleet and property owners have powered ahead, according to the latest statistics from Acturis.
Seventeen adds to northern footprint with first Yorkshire buy
Seventeen Group has bought East Pennine Insurance Consultants which trades as Fletcher Smith in Sheffield and North East Insurance Brokers in the North East.
Devitt posts rises in year of MCE collapse
Motorcycle specialist Devitt Insurance Services grew turnover by 3.3% in 2023 as profits leapt to £4.03m.
Jensten buys Chris Knott Insurance Consultants to bolster South East presence
Jensten has bought Chris Knott Insurance Consultants adding 19 staff and an office in Hastings to the group.
Interview: Sabre CEO Geoff Carter
Sabre boss Geoff Carter tells Insurance Age about the upsides for brokers from its IHP rollout, growing in motorbikes after the collapse of MCE and profitable expansion plans in taxi.
Sabre boss Geoff Carter on supporting brokers to compete in an ever more competitive world
Motor specialist Sabre is making “big investments” in insurer hosted pricing with a rollout this year and into 2025 to deploy sophisticated rates into the broker market, CEO Geoff Carter told Insurance Age.
Brokers eyeing up expansion in non-standard
More than three quarters (79%) of brokers had an increase in non-standard insurance enquiries over the past year with an identical amount expecting continued growth in the year ahead, according to a survey by Prestige Underwriting.
JMG in double swoop for motor and cleaning specialist brokers
JMG has bought Executive Insurance Services and Gleaming Insurance, in a move it said took the group to £300m in premium.
Pen expands into Ireland with Wrightway Underwriting
Pen Underwriting has bought Republic of Ireland-based managing general agent Wrightway Underwriting establishing its first on-the-ground presence in the country.
Ardonagh buys BP Insurance Brokers
Ardonagh Advisory has bought Lancashire regional and specialist personal lines broker, BP Insurance Brokers.
Markerstudy boss Spencer hails “momentous milestone” as FCA approves Atlanta deal
The merger between Markerstudy and Atlanta, the personal lines broking business of The Ardonagh Group, has been approved by the Financial Conduct Authority.