Insurance news

• Premium finance market warned of serious consequences amid latest FCA concerns

  27-09-2023 10:34 via insuranceage.co.uk
  
  The premium finance market is being warned it faces serious regulatory consequences after the Financial Conduct Authority issued yet more concerns about industry practices.
  
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• Brokers confident in commercial motor growth but have capacity concerns - survey

  27-09-2023 10:31 via insuranceage.co.uk
  
  A survey has revealed that 83% of brokers do not believe there are enough specialists or insurers offering capacity for the haulage, waste disposal and courier markets.
  
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• Space needs a sustainable insurance industry

  27-09-2023 06:00 via ft.com
  Mishaps rise amid growing congestion of the thousands of satellites in low earth orbits
  
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• Should I have a survey on a flat with a 10-year guarantee?

  27-09-2023 06:00 via ft.com
  I’m buying a luxury new-build apartment in central London
  
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• Brokers “front and centre” for Hiscox, says Dye on one-year anniversary

  26-09-2023 16:43 via insuranceage.co.uk
  
  Celebrating his first year as UK CEO of Hiscox, Jon Dye tells Insurance Age about the central role of brokers in the insurer’s growth strategy across its new operating model in high net worth, beefed up regional structure and schemes ambitions.
  
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• Clear completes hat-trick buying Bluestone in Cirencester

  26-09-2023 15:37 via insuranceage.co.uk
  
  Clear Group swooped for its third deal in September buying Bluestone Insurance Services to boost its presence in the South West.
  
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• Arkel Underwriting targets landlord growth with Applied expansion

  26-09-2023 11:46 via insuranceage.co.uk
  
  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.
  
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• MGAs urged to check on capacity partnerships amid Vesttoo fraud scandal

  26-09-2023 11:41 via insuranceage.co.uk
  
  Managing general agents and carriers are being urged to carry out ‘robust and periodic due diligence’ following the Vesttoo insurtech scandal.
  
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• HSB broker research pinpoints computer cover gap

  26-09-2023 11:03 via insuranceage.co.uk
  
  A poll of insurance brokers by HSB has suggested that two-thirds of businesses are not considering computer insurance risks arising from evolving working practices.
  
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• One Call boosts policy count and profits in 2022

  25-09-2023 17:21 via insuranceage.co.uk
  
  Doncaster-headquartered One Call Insurance Services has posted double digit increases in profits and policy count for 2022.
  
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• Regulators consult on measures to boost D&I in financial services

  25-09-2023 12:35 via insuranceage.co.uk
  
  The Financial Conduct Authority and the Prudential Regulation Authority have released consultation papers setting out proposals to boost diversity and inclusion to support healthy work cultures, reduce groupthink and unlock talent.
  
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• Aviva boosts UK SME and HNW proposition with £460m AIG Life swoop

  25-09-2023 12:35 via insuranceage.co.uk
  
  Aviva has bought AIG Life from Corebridge Financial, a quoted subsidiary of American International Group, for £460m.
  
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• Hiscox names four regional managers in UK broker business reshuffle

  25-09-2023 11:35 via insuranceage.co.uk
  
  Hiscox has appointed Chris Hanson, Darren Love, Laura Garrard and Alex Bailey as the regional managers for its UK broker business, Insurance Age can reveal.
  
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• MGA Iprism notches up second post-MBO buy with SK deal

  25-09-2023 10:51 via insuranceage.co.uk
  
  Managing general agent Iprism has bought property specialist SK Underwriting for an undisclosed fee.
  
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• My Perfect Broker Week: WTW Network’s Rachael Charles

  25-09-2023 10:31 via insuranceage.co.uk
  
  To tie in with the first-ever UK Broker Week, we asked our speakers to outline what their perfect working week would look like. Rachael Charles, business partner, WTW Networks, shares her thoughts.
  
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• How to get the best life insurance cover

  25-09-2023 08:00 via theguardian.com
  
  It’s not for everyone, so check if you need it, then find the right policyLife insurance can provide financial help for your loved ones, and maybe help them make ends meet, in the event of your death. Continue reading...
  
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• R&Q in ‘advanced’ talks for sale of Policy Expert capacity backer Accredited

  22-09-2023 11:11 via insuranceage.co.uk
  
  R&Q Insurance Holdings has admitted that it is in advanced discussions with Canadian investment business Onex for the sale of its fronting business Accredited.
  
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• MCE had £5.2m loss before collapse and HMRC now one of biggest creditors

  22-09-2023 11:01 via insuranceage.co.uk
  
  Broker MCE was carrying a £5.2m Ebitda loss before its collapse, leaving HM Revenue & Customs with an estimated £828,844 claim, according to the administrator’s report.
  
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• People Moves: 18 – 22 September 2023

  22-09-2023 10:41 via insuranceage.co.uk
  
  Keep up to date with the latest personnel moves in insurance.
  
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• Park Insurance launches formal apprentice programme

  22-09-2023 10:41 via insuranceage.co.uk
  
  Bristol-based Park Insurance has rolled out its first formal broker apprentice programme open to recent school leavers and those with work experience in other areas looking to move their career in a new direction.
  
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• FCA ready to swoop on “outliers” amid concerns on cyber insurance

  21-09-2023 15:42 via insuranceage.co.uk
  
  The Financial Conduct Authority has warned the cyber insurance market over its concerns on policy wordings.
  
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• Interview: Mike Latham, Verlingue UK

  21-09-2023 13:09 via insuranceage.co.uk
  
  Verlingue is a French broker that took off in the aftermath of the Second World War. Following publication of its latest financial results, UK CEO Mike Latham explains why the family-owned business is a steady generational business that has clear and ambitious targets.
  
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• SRG reveals Hamilton Leigh cost as turnover grows 21% in 2022

  21-09-2023 11:03 via insuranceage.co.uk
  
  Specialist Risk Investments’ bill for buying motor trade specialist Hamilton Leigh in 2022 totalled £11.52m, according to a filing at Companies House.
  
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• Ripe Thinking notches up first buy with boat insurance specialist

  21-09-2023 10:01 via insuranceage.co.uk
  
  Insurtech broker Ripe has completed its first acquisition by snapping up specialist boat insurance provider, Craftinsure.
  
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• Blog: Market challenges make it the ideal time for brokers to digitise

  21-09-2023 10:00 via insuranceage.co.uk
  
  Far from being a risk, digitisation is the best protection brokers can invest in to reduce the impact of market uncertainty. And Risto Rossar, CEO and founder of Insly, argues the timing could not be better given ongoing challenges from recruitment to policyholder retention.
  
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• Truell mothballs Pension SuperFund after watchdog inaction

  21-09-2023 06:00 via ft.com
  The UK’s first commercial pension consolidator made three attempts at regulatory approval
  
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• UK data watchdog fines illegal nuisance callers record £590,000

  21-09-2023 01:06 via ft.com
  Move part of wider crackdown on rogue operators targeting the elderly and vulnerable
  
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• M&G: slow progress for innovator turned follower

  20-09-2023 18:16 via ft.com
  Building up asset and wealth management units is a good idea but investors will need to be patient
  
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• PIB targets underwriting and schemes growth with cross-divisional CEO

  20-09-2023 17:47 via insuranceage.co.uk
  
  PIB Group has appointed Charles Burgess as CEO for underwriting & schemes.
  
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• FCA hammers GAP insurance as it issues general warning on high commission levels

  20-09-2023 13:40 via insuranceage.co.uk
  
  The Financial Conduct Authority has written to insurers, calling on them to take action as it released the latest set of fair value data and again brought the spotlight onto the issue of high commission levels.
  
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• Brown & Brown Europe to buy Occam Underwriting

  20-09-2023 12:16 via insuranceage.co.uk
  
  Brown & Brown Europe, recently rebranded from Global Risk Partners, has signed up to buy 100% of space and terrorism specialist managing general agent Occam Underwriting.
  
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• Majority of brokers using AI on a daily basis – RSA survey

  20-09-2023 11:46 via insuranceage.co.uk
  
  Four in five brokers are already using artificial intelligence on a daily basis – and almost half see the potential benefits, but are also aware of the challenges it poses.
  
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• Majority of brokers using AI on a daily basis according to RSA survey

  20-09-2023 11:46 via insuranceage.co.uk
  
  Four in five brokers are already using AI on a daily basis - and almost half see the potential benefits but are also aware of the challenges it poses.
  
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• Hiscox targets brokers in brand campaign

  20-09-2023 11:25 via insuranceage.co.uk
  
  Hiscox has unveiled a nationwide brand campaign including broker-focused bespoke content for local markets.
  
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• My Perfect Broker Week: Stubben Edge’s Andrew Waring

  20-09-2023 10:40 via insuranceage.co.uk
  
  To tie in with the first-ever UK Broker Week, we asked our speakers to outline what their perfect working week would look like. Andrew Waring, director of intermediary at Stubben Edge shares his thoughts.
  
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• As UK M&A targets dwindle could team hires offer consolidators a new path to growth?

  19-09-2023 17:27 via insuranceage.co.uk
  
  An ongoing feature of the London market, there are signs that team lifts and hires might soon be on the rise in the UK retail space too, writes Saxon East.
  
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• Brokers urged to educate customers looking to save costs on insurance

  19-09-2023 16:17 via insuranceage.co.uk
  
  Brokers should educate customers keen to cut back on premium spend as to the risky consequences they could face, according to Guy Penn trading director Mark Whiteman.
  
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• Market Moves: September 2023

  19-09-2023 13:56 via insuranceage.co.uk
  
  All the latest key personnel moves across the insurance market.
  
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• Products: September 2023

  19-09-2023 13:55 via insuranceage.co.uk
  
  Recent product launches target solicitors, sustainable builders, construction sector and employers concerned by internal fraud and scams.
  
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• Headline makers – September 2023

  19-09-2023 13:51 via insuranceage.co.uk
  
  The hottest stories from 1 to 31 August.
  
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• Cardiff City settles with Miller in legal action over footballer’s plane crash death

  19-09-2023 13:00 via insuranceage.co.uk
  
  Cardiff City has settled with Miller Insurance Services after suing the broker for £10m following the plane crash death of striker Emiliano Sala.
  
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• 'Investing in small brokers' - Clear snaps up Kent property owners' specialist

  19-09-2023 12:37 via insuranceage.co.uk
  
  Clear Group has snapped up Kent-based broker Miles Archer as its latest acquisition.
  
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• E-trading can thrive, but not at the expense of access to underwriters – Arch  

  19-09-2023 10:45 via insuranceage.co.uk
  
  Digital e-trading can thrive, but it can’t be at the expense of broker contact with underwriters, according to Vicky Rowley, national director of business transformation at Arch Insurance.  
  
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• Markerstudy deal will deliver steroid like boost to Atlanta, says Donaldson

  19-09-2023 10:43 via insuranceage.co.uk
  
  Ian Donaldson, Ardonagh Retail CEO and inbound Markerstudy Retail CEO, has hailed the proposed merger as being be able to boost growth, product footprint and acquisitions but declined to be drawn on any interest in RSA’s personal lines business.
  
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• With Atlanta sold, what will Ardonagh do with the funds it pockets?

  18-09-2023 17:44 via insuranceage.co.uk
  
  Jonathan Swift looks at Ardonagh’s recent growth, and suspects that a larger percentage of the £820m windfall from the Atlanta sale is going to be spent overseas rather than at home.
  
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• The stats: Q2 2023 sees fleet rates begin upward climb

  18-09-2023 17:43 via insuranceage.co.uk
  
  The latest Acturis stats reveal that the previously stagnant fleet sector has turned a corner as insurers hike premiums to cope with claims inflation, reports Rachel Gordon.
  
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• Greenwood Moreland lands biggest deal since JMG Group-backed MBO

  18-09-2023 11:39 via insuranceage.co.uk
  
  Greenwood Moreland has added to its presence in Scotland with the purchase of Glasgow-based Calcluth & Sangster Insurance Brokers.
  
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• Markerstudy CEO Spencer targeting Admiral’s crown as UK’s top PL player after Atlanta deal

  18-09-2023 10:33 via insuranceage.co.uk
  
  Markerstudy is only £301m of gross written premium away from potentially overtaking Admiral as the UK’s largest personal lines player after the £1.2bn Atlanta deal last week, according to its CEO Kevin Spencer.
  
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• UK insurer Phoenix hails boost to retirement sector from high inflation

  18-09-2023 10:26 via ft.com
  Chief executive says UK economic environment is ‘accelerating our growth’
  
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• My Perfect Broker Week: Atlanta Group’s Leon Carford

  18-09-2023 09:45 via insuranceage.co.uk
  
  To tie in with the first-ever UK Broker Week, we asked our speakers to outline what their perfect working week would look like. Atlanta Group’s head of risk and compliance Leon Carford shares his thoughts.
  
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