Insight
Banga commits to more Polaris developments as insurers push the boundaries on digital trading
Having just completed five years as managing director of Polaris, Vivek Banga has promised more developments from the “core and essential” digital trading offering in 2024 after £2.5m of investment last year.
WTW reports 10% organic broking growth in 2023
WTW has confirmed 10% organic growth in its risk and broking division last year, an improvement on the 3% achieved in 2022.
Tokio Marine to acquire MGA brand and staff from Marsh
Tokio Marine HCC International has reached an agreement with Marsh Specialty UK to onboard certain employees of Lavaretus Underwriting.
Polaris reveals 21% imarket premiums surge to £394m in 2023
Insurance industry owned Polaris has revealed a 21% jump in premiums placed through its digital trading platform imarket to £394m in 2023 as policies broke through the half a million barrier.
DLG’s Bryson to replace Mooney as RSA commercial MD
RSA Insurance has announced that Sonya Bryson will replace Lee Mooney as commercial lines managing director, effective from 1 May 2024, subject to regulatory approval.
Markerstudy weighing up Northern Ireland options as it exits short-term market
Markerstudy has confirmed to Insurance Age that it plans to withdraw from the short-term motor insurance market.
Prosura hits £3m GWP in a year
Prosura has already reached £3m gross written premiums, according to Jon Newall, managing director, since it began trading at the beginning of 2023.
SSP Broker names Martyn Mathews MD
SSP Worldwide has appointed Martyn Mathews to the newly created role of managing director of SSP Broker.
Biba sets out triple push to government ahead of Spring Budget
The British Insurance Brokers’ Association has called for insurance premium tax cuts, increased flood defence spending and apprenticeship levy reform in the government’s Spring Budget.
Deals and organic growth boost Howden revenue to £2.44bn
Howden grew revenue by 33% to £2.44bn in the year ended 30 September 2023 on the back of 56 acquisitions and 13% organic growth.
Brown & Brown buys Kent-based Stewart & Partners
Brown & Brown has bought out Oxlea Investments, trading as Stewart & Partners, to become part of its South East retail hub Green Insurance Group.
NBS launches hospitality product
NBS Underwriting has launched a multi-location hospitality insurance product.
The Traitors’ Andrew Jenkins: “I can’t lie to save my life”
Andrew Jenkins, commercial account executive at PG Insurance, came fourth in BBC’s The Traitors series two in front of a peak audience of 6.9m people.
Ardonagh in $2bn bond deal – Bloomberg
Ardonagh is launching a near-$2bn (£1.59bn) bond sale in a process led by Morgan Stanley and Goldman Sachs, according to Bloomberg.
Axa pulls the plug on motorbike business
Axa will stop underwriting motorbike insurance from March, Insurance Age can reveal.
UK commercial pricing flat in Q4 – Marsh
UK commercial insurance pricing was flat in the final quarter of 2023 having posted its first fall in years in Q3, according to the latest research by Marsh.
Ardonagh Advisory boosts Scottish presence
Ardonagh Advisory has purchased Glasgow-based Solutions Healthcare, a whole-of-market healthcare insurance broker.
Aviva leaders on simplification for brokers at heart of changes
Aviva’s 2023 actions will see it move up the gears with brokers this year, according to leaders Ryan Birbeck and Michael Yabantu.
Interactive insurance broker UK M&A Map 2024
In 2023, Insurance Age reported on 114 UK broker deals with Brown & Brown Europe leading the way with 21.
Aon post 5% commercial organic growth for 2023
Aon has reported 5% organic growth in its commercial risk solutions business to $7.04bn (£5.52bn) in 2023 as profits across the global giant slipped year-on-year.
The AA buys Keycare
The AA has purchased Key Care, the household and motor key insurance specialist.
AM Best sees positive implications for Folgate rating after Hadron deal
AM Best is reviewing the ratings of Folgate Insurance after the takeover by Hadron, flagging Folgate is expected to be “strategically important” to the US hybrid carrier.
Eleven targets hundreds of members in network in next few years
Dawn Derbyshire, managing director of Eleven Network, and David Bruce, Acrisure UK chief operating officer and network CEO, on building to be bigger and better.
People Moves: 29 January – 2 February 2024
Keep up to date with the latest insurance personnel moves.