Property
Beazley posts record profit as premium tops $6bn
Beazley has reported insurance written premiums jumped 10% to $6.16bn (£4.84bn) for the year ended 31 December 2024.
Specialty insurer becomes latest Lloyd’s entrant with Syndicate 1984
Convex Group, the specialty insurer and reinsurer, has received in principle approval to launch Lloyd’s Syndicate 1984, which will start underwriting in April 2025.
PIB kicks off 2025 buys with Residentsline
PIB has bought flats and apartments insurance specialist Residentsline from managing director owner Belinda Bagnall in its first deal of the year.
Market Movement Index: Brokers cutting agencies to focus on fewer insurers
Analysis from Broker Insights shows brokers are consolidating agency numbers and ending relationships with smaller, less useful, insurers. Rachel Gordon breaks down the data.
MGA Aspect expands in property with more products promised for brokers
High-hazards mid-market specialist managing general agent Aspect has rolled out a broader range of product capabilities and a brand refresh.
Weather-related domestic damage cost insurers £585m in 2024, says ABI
The Association of British Insurers has calculated insurers paid out a record £585m for weather related damage to people’s home and possessions in 2024.
UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
TMHCC hands Heath new distribution head remit
Tokio Marine HCC has promoted its head of delegated property Stuart Heath to the role of head of distribution – International.
Miller signs up to buy AHJ
Miller has struck a deal to buy UK headquartered Alwen Hough Johnson, a reinsurance broker that also places business in a number of niche insurance lines.
CFC adds property damage to large line cyber product
CFC has added property damage to its large corporate cyber proposition, stating the move came in response to broker demand and addressed a gap in the market.
Business Property Relief changes – mitigating the impact on owner-managed brokers
In the first of a three-part series focused on the fallout from the 2024 Labour Budget, Stephen Kenny, head of private client at PKF Littlejohn, outlines the changes to Business Property Relief and how broker-owners should consider responding.
Pen boosts capacity with QBE in £420m deal package
Pen Underwriting has extended its partnership with QBE in the UK and Ireland, renewing capacity for public authority risks as well as the hazardous goods and environmental industries.
Flood Re targets Scotland in resilience drive
Flood Re is targeting Scotland, promoting property-level flood resilience and aiming to help communities better prepare for future flooding events.
Worcester broker adds third office with latest buy
Hazelton Mountford has acquired the White Knight Group’s insurance book of business.
Bottle to lead Arch in the UK following Bashford retirement
Arch Insurance International has promoted Mike Bottle to the role of managing director of the Arch Insurance UK regional division, with immediate effect.
Aviva continues regional push with five underwriting hires
Aviva has revealed five underwriting hires across the South West and Wales region as it continues its regional push.
Brown & Brown Europe reveals final deal of 2024 with Hampshire broker buy
Brown & Brown Europe rounded off 2024 with a swoop for Hampshire-headquartered Addingstone Insurance Solutions, Insurance Age can reveal.
Iprism broadens capacity deal with Zurich
Managing general agent Iprism has signed a multi-year deal with Zurich bringing in capacity for its property owners and commercial combined products.
Review of the Year 2024: Woodgate and Clark’s Simon Jones
Simon Jones, client services director at Woodgate & Clark, explains why digital transformation is no longer a differentiator, circularity in property repairs is key to sustainable claims handling and a lack of air travel means Race Across the World is…
Review of the Year 2024: OneAdvent’s Tim Quayle
Tim Quayle, CEO of OneAdvent, raises his eyebrows over the BMS/DR&P deal; would stress the importance of proportionality to the FCA; and believes 2024 will go down as the Era of Stability.
Review of the Year 2024: Flood Re’s Stuart Logue
Stuart Logue, interim CEO at Flood Re, reflects on its first Parliamentary drop-in sesson and the Flood Resilient Garden at the Chelsea Flower Show as well as sharing a prediction about Build Back Better.