United Kingdom (UK)
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.
CFC launches second carbon insurance solution
CFC has launched its second insurance solution for buyers of voluntary carbon credit, Carbon Cancellation Insurance.
Simon Mabb named head of UK regions at AssuredPartners
The new head of UK regions at AssuredPartners has promised a focus on organic growth as he looks to facilitate support and co-operation across the business in the recently created role.
AUB takes 40% stake in Momentum
Tysers owner AUB Group has signed up to buy a 40% equity stake in appointed representatives network Momentum Broker Solutions, subject to regulatory approval.
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.
CGI leader Andy Jones on transforming the market and the data standards vision
Creating a data standard is “the real utopia vision”, Andy Jones, director for consulting services in insurance at CGI in the UK, told Insurance Age.
Aviva warns on increase in summer floods
More floods are happening outside of traditional ‘flood season’, with more than a third (35%) of home insurance flood claims occurring between June and August, according to new analysis from Aviva.
People Moves: 3 – 7 June 2024
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Lloyd & Whyte 2023 deal totals revealed
Lloyd & Whyte made four acquisitions in 2023 at a cost of £6.5m, as the previous purchase of SEIB helped boost turnover to £47.93m.
Flood Re CEO Andy Bord steps down after seven years
Andy Bord, CEO of Flood Re, will be stepping down at its annual general meeting this July after seven years in the role.
London-based MGA incubator acquired by US insurance group
Ambac Financial Group, the US-based insurance holding company, has agreed to acquire a 60% controlling stake in Beat Capital Partners, the specialist insurance underwriting and managing general agent incubator, for $282m (£220.6m).
Ex-insurance broker jailed for pocketing £46k from bouncy castle hire companies and amusement parks
A former insurance broker has been jailed for two years, after he stole £46,125 by editing a wholesale broker’s contracts to increase the cost of premiums paid by his clients, the City of London Police have confirmed.
Seventeen Group strikes two deals
Seventeen Group has bought Wisemans Insurance Services in Ashford and Manchester-based North West Risk Solutions.
Allianz Commercial backs MGA on marine products
Allianz Commercial has teamed up with ProMarine on a multi-product strategic underwriting and claims delegated authority agreement.
Accelerant Insurance Europe sees record GWP ahead of UK MGA business transfer
Accelerant Insurance Europe recorded €780m (£664m) gross written premium for the 2023 financial year (2022: €659m), according to its latest Solvency and Financial Condition Report.
SRG adds Accredited capacity to MX
Specialist Risk Group’s managing general agent, MX, has sealed a capacity deal with Accredited Insurance (Europe).
Ardonagh buys BP Insurance Brokers
Ardonagh Advisory has bought Lancashire regional and specialist personal lines broker, BP Insurance Brokers.
Mike Dickinson named MD at Russell Scanlan
Mike Dickinson has been appointed managing director of Nottingham-headquartered Russell Scanlan with Bryan Banbury stepping down, but staying at the broker as chairman.
TL Dallas grows Scottish presence buying Marsh Commercial’s Highlands and Islands business
TL Dallas has signed up to buy Marsh Commercial’s business in the Highlands and Islands of Scotland, with the deal expected to close in August.
AssuredPartners doubles 2024 deal count with latest buys
AssuredPartners has acquired the insurance related assets of Everett Mead and ACG Broking Services, bringing an additional £3m of gross written premium to the broker.
The stats: Fleet racing ahead at record rate
The latest statistics from Acturis have shown the fleet market bucking the trend on premium increases. Whereas almost all other lines have seen hardening falling away, fleet has surged on, up by 7.9% – the highest quarterly rise on record.
Stephanie Ogden promoted to CEO of HDI Global UK & Ireland as Taylor retires
Stephanie Ogden is to take on responsibility for commercial and specialty business as the new CEO of HDI Global UK & Ireland from 1 September, the insurer has confirmed.
CFC updates fintech insurance cover
CFC has made a “major overhaul” to its fintech insurance cover in the UK, Canada and Australia, across both professional service and technology exposures.
Arch adds Motwani from Aon as UK COO
Arch Insurance International has recruited Ketan Motwani from Aon as UK chief operating officer taking up the role with immediate effect.