Commercial
TBIG ups stake in PHP Insurance to 80%
The Broker Investment Group has increased its investment in Macclesfield-based chartered insurance broker PHP Insurance to 80%.
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.
Chubb rolls out new practice targeting healthtech sector
Chubb has launched a new healthtech industry practice in the UK.
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.
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.
New MGA aims to combat broker frustrations with PI
A new managing general agent has launched targeting mid-market SME professional indemnity business.
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.
Law firm closures due to lack of PI slows down
A total of 34 law firms closed due to lack of professional indemnity insurance in 2022/23 up to the end of October, the lowest level since 2018/19.
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.
Markerstudy gets CMA greenlight to complete £1.2bn Atlanta deal
The Competition & Markets Authority has cleared Markerstudy to pursue its proposed £1.2bn acquisition of Ardonagh-owned personal lines broking arm Atlanta.
Broking Success: Embracing technology
Mark Thomas, founder of Compare Insurance, is looking to harness the power of technology even further to continue the pace of 60% growth the business achieved last year.
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.
Axa Commercial names Paul Tombs as director of SME Intermediary
Axa Commercial has appointed ex-Zurich leader Paul Tombs as director of its SME Intermediary business, starting in the summer.
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.
NFP expands in PMI with Get Medical Plans buy
NFP has purchased Get Medical Plans, a private medical insurance intermediary, with founders Marc Benjamin and Sanjeev Mallipeddi staying to lead and manage the London-based business.
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.
Meet the MGA: Qualis
From an internal MGA within Genworth Mortgage Insurance to a subsidiary of AmTrust, Qualis managing director & CEO Roberta Brunelli explains how data helps it to predict future losses and its plans for product and capacity diversification.
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.
Momentum profit soars 60% as revenue also leaps
Momentum Broker Solutions increased profit before tax by 60% to £1.8m last year as it grew revenue to £15.23m from £11.69m in 2022.