News
Saga confirms talks with Ageas over insurance “partnership”
Saga has today confirmed it is in discussions with Ageas with “regard to a potential partnership arrangement for its insurance business”.
Onda partners with cyber security firm Panorays
Onda has signed a two-year deal with Panorays to integrate its cyber risk assessment tool into the managing general agent’s platform.
Gallagher promotes Collings to new chief broking officer exec role
Gallagher has promoted Simon Collings to a new executive role, chief broking officer, reporting to Michael Rea, CEO of Gallagher in the UK.
Kingfisher creates new motorsports arm following broker buy
Kingfisher Insurance Services has acquired MIS Motorsport’s commercial business in the UK and Ireland.
RSA launches mid-market D&O product
RSA Insurance has launched Directors’ and Officers’ Protection, aimed at UK domiciled or headquartered companies, large domestic and multinational businesses, private firms with a turnover of over £250m and publicly traded entities.
Ripe inks deal to buy marine specialist GJW Direct from Munich Re Specialty
Ripe has signed up to buy non-commercial marine insurance specialist GJW Direct from Munich Re Specialty, in a deal expected to close in the first half of next year.
Ageas adds to distribution team with double senior hire
Ageas UK has strengthened its broker and partner distribution team with a double appointment.
Prosura strikes second deal in Yorkshire, adding Donald Schofield
Prosura has bought commercial broker Donald Schofield, based in Pontefract – its second purchase since starting to trade at the start of 2023.
Elizabeth Passey appointed FSCS chair
Elizabeth Passey has been appointed chair of the Financial Services Compensation Scheme, taking up the role today succeeding Marshall Bailey.
PIB returns to buying with RS Insurance Brokers
Consolidator PIB has bought Nottingham-based RS Insurance Brokers, adding expertise in fleet and professional indemnity to its portfolio of specialisms.
NBS seals SME capacity deal with Hadron UK
NBS Underwriting has added Hadron UK Insurance to its insurer panel, effective 1 October.
Warburg Pincus and Temasek complete SRG investment
Specialist Risk Group has confirmed the takeover by private equity house Warburg Pincus and Singapore-headquartered investor Temasek has completed after receiving all regulatory approvals.
JMG reaches 40 deals milestone with Confidential Solutions buy
JMG Group has bought London-based Confidential Solutions Group as it racked up its 40th deal since being formed in 2020 when Yorkshire-headquartered JM Glendinning underwent an MBO.
Open GI strikes deal to provide brokers with gen AI chatbots
Open GI has teamed up with artificial intelligence specialists OpenDialog to bring advanced conversational AI agents to its customers, with the aim of creating efficiency gains for brokers by automating customer service interactions.
FCA still undecided on taking GAP-like action over premium finance fair value
The Financial Conduct Authority “remains concerned” over the fair value of premium finance, it has revealed at a press conference after the regulator's annual public meeting yesterday.
People Moves: 23 – 27 September 2024
Follow the latest insurance personnel moves.
PwC tips Northern Irish motor premium to drop 15% after Government review
Motor insurance premiums for Scottish and Northern Irish drivers have been tipped to decrease by an average of £60 (10%) in Scotland and £90 (15%) in Northern Ireland following a Government review.
Allianz promotes to bolster personal lines broker team
The Allianz personal lines broker business has strengthened its leadership team and promoted Victoria Price to director of broker propositions.
Major Ardonagh acquisition gets the green light from shareholders
Ardonagh has received approval from PSC shareholders to complete the A$2.3bn (£1.21bn) acquisition of the Australian broking business, with the transaction expected to close around 11 October 2024.
Aviva signs capacity deal for Howden scheme
Aviva has agreed to a deal with Howden to provide capacity for the broker’s Bespoke Farm and Estate Scheme, Insurance Age can reveal.
Sompo launches marine insurance proposition aimed at brokers across the UK
Sompo has launched a national marine insurance proposition for the UK, which – for the first time – enables it to write marine cargo and transport and logistics policies regionally, not just in London.
Markel targets SMEs to mid-market with tech insurance expansion
Markel is aiming to meet the evolving needs of the UK’s tech sector as it launches an expanded offering.
Motor leads the way as insurers detected 14% more fraudulent claims in 2023
Insurers detected £1.1bn worth of fraudulent claims last year, up 4% on 2022, according to the latest cross-industry figures.
Ecclesiastical grows 11% in half year as UK and Ireland COR tumbles to 84.2%
Ecclesiastical Insurance achieved £18m of underwriting profit on UK and Ireland business in the first half of 2024 as its combined operating ratio improved substantially to 84.2% from 106.6% in the same period of 2023.