Commercial
Ardonagh buys specialist PI broker
Hera Indemnity, which specialises in professional indemnity insurance for solicitors and brings GWP of £41m, will become part of Ardonagh Advisory alongside brands including Ethos Broking, Broker Network, Compass UK and Towergate's regional branch…
Pen Underwriting launches standalone terrorism product
MGA says the new offering is part of its strategy to broaden its product suite for UK brokers, as it works towards its £1bn GWP target.
Newcastle-based MGA Generation bought by Arden UW
The combined group, part of Belfast-headquartered Willis & Company, will trade under the Generation brand and plans to expand its footprint across the UK.
FCA launches policychecker for BI customers
The regulator has developed the tool to help policyholders find out if their wording is affected by the Supreme Court's coronavirus ruling.
MGA Inperio updates terrorism proposition
A digital trading platform focusing on terrorism & sabotage has been developed for brokers.
Blog: Supporting confidence to trade amid twin disasters of Covid and Brexit
Milo Bogaerts, of trade credit specialists Euler Hermes, explores how the extension of the UK trade credit insurance state support scheme will help brokers and carriers create the confidence to trade for their clients.
Q Underwriting launches property and package division
The line is supported by capacity from Ergo UK Specialty which is part of Munich Re.
Howden to buy in the UK as it confirms £500m war chest
CEO David Howden hopes A-Plan will help attract UK brokers who do not want to join the "traditional aggregators" as it explores deals of all sizes.
Prometheus Insurance falls into administration
The Gibraltar-based insurer, also known as Tradewise Insurance Company, which went into run-off last year, cannot meet claims in full.
Brokers push government to cover Covid-19 event insurance gap
Without backing as soon as possible events will be unable to take place over the summer as broker calls for £200m support package.
Howden reveals organic growth of 6% and rising revenues
The broking group says it has facilities of over £300m to support growth and acquisitions, as it looks to make more deals in the retail space and to grow its MGA arm, Dual.
PIB’s Brendan McManus lifts lid on Apax deal
The leader says brokers have become even more popular with private equity investors following Covid-19 as many have sustained performance and kept hold of revenue despite the pandemic.
Blog: Professional indemnity - Was 2020 the eye of the storm?
MGB’s Nick Bender considers the evolution of the PI market and predicts how the space will look in future.
PIB sold to Apax funds
The investment is set to “accelerate strategic M&A” for the broker as it is also confirmed that former backer, the Carlyle Group, has retained a minority stake in the business.
FCA orders insurers to pay claims swiftly following Supreme Court ruling
In a letter to insurers, FCA executive director Sheldon Mills, urges firms to reassess and settle valid BI claims.
Blog: The broker fallout from the Supreme Court BI ruling
Ashwin Mistry slams those attacking brokers and warns that the Orient Express ruling could leave some sectors uninsurable.
Biba reveals measures to help brokers in light of Supreme Court judgment
Trade body to issue package of guidance and host a webinar to help members "manage some difficult conversations" after brokers are inundated with calls from clients hoping to claim.
BGC Partners launches Corant
Corant will become the holding company for its broking and MGA operations including BGCI, Ed and Besso.
Head Lines: Zurich offers counselling to all claimants
Brokered and direct customers will be offered access to five counselling sessions if they claim.
RSA shareholders say yes to £7.2bn takeover
Canadian provider Intact and Danish insurer Tryg made a cash offer for RSA in November 2020.
Blog: Why the BI ruling offers brokers the perfect opportunity to show their mettle
Following the Supreme Court business interruption ruling last week, Jonathan Swift argues brokers need not join their insurer partners in suffering Murder By the Orient Express, but instead play an important role in helping policyholders understand what…
Insurers urged to pay claims quickly following BI ruling
The Supreme Court concluded the Covid-19 business interruption dispute by substantially ruling in favour of policyholders.
A-Plan to absorb Howden’s UK retail business
More than 100 staff are set to move across as A-Plan is set to become Howden’s retail flagship.
US-firm AssuredPartners buys Borland Insurance as it grows UK footprint
Borland is headquartered in Scotland and the deal follows AssuredPartners' purchase of Birmingham-based Hettle Andrews & Associates in 2019.