Articles by Emmanuel Kenning
Ardonagh boosts adjusted Ebitda by a third to $649.6m
Income at Ardonagh rose 29.1% last year to $1.99bn (£1.59bn) on the back of organic growth and 67 acquisitions.
Nine ghost broker actions in police counter-fraud Operation Henhouse
Police officers from the Insurance Fraud Enforcement Department have served nine cease and desist notices over a two-week period to help tackle ghost brokers.
Motor MGA KGM adds Ciaran Astin as managing director
Ciaran Astin has joined specialist motor managing general agent KGM as managing director, succeeding interim CEO Paul Kneafsey.
Gracechurch awards inaugural regional underwriting marques to Arch and Allianz
Independent insurance research consultancy Gracechurch has handed Arch and Allianz Commercial accolades as its first UK regional market underwriting service quality marque achievers.
Pool Re treaty modernisation to enable more flexibility for members
Pool Re members and HM Treasury have backed the board’s proposals to transform the government-backed terrorism reinsurer, switching the model of the scheme’s offering in a move the carrier stated would keep it relevant and fit for purpose in the digital…
FCA warns insurers, again, on undervaluing total loss motor claims
The Financial Conduct Authority has confirmed finding evidence that suggests motor insurers are offering customers less than the full value of written-off or stolen vehicles and, in some cases, only increasing offers when a customer complains.
MarshBerry: Deal pricing to stay strong in 2024 but unlikely to go higher
Competition among consolidators supported insurance distribution deal prices in 2023 with ongoing demand likely to keep it robust this year, M&A specialist MarshBerry has calculated.
HDI Global reports 2023 growth with UK and Ireland boost
Talanx Group-owned HDI Global has reported growing insurance revenue by 10% to €9.1bn (£7.8bn) in 2023 as it highlighted expansion in the UK and Ireland.
Deal volume up but M&A value down in 2023, says MarshBerry
The value of UK insurance distribution deals fell to £3.9bn in 2023, down 8% on the year before, despite M&A volume returning to record levels, according to MarshBerry.
Chaucer to enter weather insurance market with parametric BI
Chaucer has revealed plans to enter the weather insurance market, starting with a parametric product to cover non-damage business interruption.
Insurance M&A up in 2023 with brokers driving the change
There were 232 insurance mergers and acquisitions in the UK & Ireland last year, with broking and service providers contributing 203 of the total, according to research by FTI consulting.
Ian Lloyd on growing Iprism and delivering for brokers as Biba’s new partner
Ian Lloyd, CEO of Iprism, has promised brokers consistency and standout service, having signed up to be the British Insurance Brokers’ Association’s high-value home insurance scheme provider.
Ageas ends DLG takeover plans after two rejections
After being rebuffed twice, Ageas has ended its pursuit of Direct Line Group, having valued the business at over £3.1bn.
Ecclesiastical grows UK & Ireland book but underwriting profit slips in 2023
Ecclesiastical Insurance upped its gross written premium in the UK and Ireland by 15.9% last year to £399.7m, but its combined operating ratio also rose to 92.1% from 87.1% in 2022.
Brunel expands into East Anglia with Liability and General Insurance Brokers buy
Brunel Insurance Brokers has bought the renewal rights to Framlingham-based Liability & General Insurance Brokers.
Takeover target Direct Line posts £189m operating loss
Direct Line Group has revealed a £189.5m loss from ongoing operations as the sale of NIG pushed the insurer into profit for 2023.
Close Brothers posts more than £1bn premium finance book
Close Brothers Group has reported “record” first half levels in its premium finance book of £1.04bn for the six months to 31 January 2024.
Biba appoints Julie Comer as head of compliance
The British Insurance Brokers’ Association has recruited Julie Comer from Lloyd & Whyte as head of compliance.
Sabre to ride on in motorcycle with broker deals after MCE collapse
Sabre is in discussions with larger motorcycle brokers and confident of adding two new partners towards the end of 2024 and into next year, CEO Geoff Carter told Insurance Age.
Sabre posts record GWP as profits bounce back in 2023
Motor specialist Sabre grew gross written premiums by 31% to £225.1m last year and improved its combined operating ratio to 86.3% from 93.4%.
Broker worries bubbling up on Ageas-Direct Line but one hope trumps all
Brokers have raised concerns about the impact on the sector if Ageas snaps up Direct Line but expressed confidence in the potential buyer’s management should a deal come to pass.
Swigciski swaps Das for leadership role at HSB
HSB has recruited David Swigciski from Das as managing director of Premier Guarantee succeeding Jacki Goodman who retired at the end of 2023.
Insurance leaders stay optimistic on growth, says KPMG
Insurance leaders remain optimistic about growth but trail banking and asset and wealth management bosses who are even more upbeat, according to a survey by KMPG UK.
Fair value not a Trojan Horse for price regulation, says FCA boss Nikhil Rathi
The onus on firms to satisfy themselves about fair value under the Consumer Duty is “not a Trojan horse for price regulation”, according to Nikhil Rathi, CEO of the Financial Conduct Authority.