Commercial
W Denis profits slip back after record year
W Denis has posted a fall in profits and turnover for the year ended 30 June 2023, slipping back from record highs the previous year.
Partners& deal prices revealed
Partners& paid out £15.2m for five purchases made in the year ended 31 March 2023, a filing at Companies House has revealed.
Review of the Year 2023: Markerstudy’s Gary Humphreys
Markerstudy group chief underwriting officer Gary Humphreys bigs-up the acquisition of Atlanta Group, and admits he did not anticipate Adam Winslow swapping Aviva for Direct Line Group.
Review of the Year 2023: Aviva’s Dave Martin
Dave Martin, MD of distribution and SME trading at Aviva, hails the virtue of “execution, execution, execution” and predicts underwriters and face-to-face meetings will come back in vogue.
UK brokers given unique access to Swiss market with new agreement
The Government has signed a joint financial services agreement with the Swiss authorities that will allow UK insurance brokers to continue to trade in Switzerland without the need to establish a base there.
Arch to sell MGA platform Castel to Ryan Speciality
Ryan Specialty has signed a definitive agreement to acquire Castel Underwriting Agencies from Arch Financial Holdings (UK) and minority shareholders.
Analysis: Aon’s £10.6bn NFP takeover not enough for it to replace Marsh as largest global broker
Aon’s £10.6bn acquisition of NFP earlier this week will not be enough to help it supplant Marsh McLennan as the world’s largest broker, according to a report.
Review of the Year 2023: Polo Managing Agency’s Paul Andrews
Paul Andrews, CEO of PoloWorks and Polo Managing Agency, wonders what happened to Arch’s auction for Castel and predicts an FCA crackdown on the ‘last bastion of poor outcomes’ to protect vulnerable groups.
Linked integration and organic growth key to JMG success, says CEO Houghton
Delivering on integration is “a bit of an obsession”, JMG Group CEO Nick Houghton told Insurance Age, as the broker posted rising Ebitda for 2022/23.
JMG deal bill tops £60m as purchases and organic growth boost Ebitda
Augusta Topco, the holding company for JMG Group, faced a bill of £63.2m for seven broker buys in the 2022/23 financial year, far outstripping the £17.3m of acquisition costs the year before.
Aon to buy NFP from Ardonagh investors MDP and HPS for £10.6bn
Aon has agreed to acquire rival US broking firm NFP for a total consideration estimated to be $13.4bn (£10.6bn).
Review of the Year 2023: Spring Insure’s Paula McManus
Paula McManus, senior PI underwriter at Spring Insure, shares her thoughts on continuing major market withdrawals and recalls Socrates when advising the political parties on how to win her vote at the 2024 General Election.
Interview: SiriusPoint’s Rob Gibbs and Alex Hardy
Regional brokers’ interest in SiriusPoint has been piqued by a slew of appointments, most notably involving ex-RSA leaders, and a high profile MGA deal. Emmanuel Kenning finds out what the insurer has to offer and what is coming next.
Freemantle to succeed Perry as FSB Insurance Services MD
FSB Insurance Service has announced that with effect from 1 January 2024, its sales director Katie Freemantle will take over the role of managing director.
Lloyd’s confirms staying in iconic HQ until 2035
Lloyd’s of London has confirmed the extension of its lease to stay in its famous headquarters at One Lime Street until 2035 with an option to remain until 2040.
Review of the Year 2023: Arc Legal Group’s Peter Harvey
Peter Harvey, deputy CEO of Arc Legal Group muses on a 20th anniversary celebration and reliving his school days by becoming an Olympian long jumper.
Allianz has all the ingredients to be the go-to on mid-market for brokers, says Carey
Dave Carey, managing director for mid-market at Allianz Commercial, is upbeat on the prospects for the insurer working in partnership with brokers as he reveals the characteristics-based underwriting approach for 2024.
Heath Crawford payout underlines the perils of underinsurance for brokers
The substantial damages awarded in the recent judgment Infinity Reliance Limited (trading as My 1st Years) v Heath Crawford Limited remind insurance brokers of the perils of underinsurance, with business interruption cover being a particular pitfall…
Review of the Year 2023: Direct Commercial’s Adam Marsh
Adam Marsh, head of agency and development at Direct Commercial reflects on asking ChatGPT why commercial motor insurance should use AI and why good service is frequently over-promised and under-delivered.
Meet the MGA: Corin Underwriting
Andy Hurrell, the managing director and head of underwriting at Corin, outlines his plans for a business that has made Lloyd’s-on-Sea its home with a strategy that aims to embrace everything good about being a virtual insurer and a recognised MGA.
SEP delivers record year for business growth
Merseyside-based SEP Insurance has reported a record year, growing written premiums by 40% in 12 months.
Alain Zweibrucker named Axa Retail CEO
Axa has moved Alain Zweibrucker from Switzerland to become CEO of Axa Retail and a member of the UK and Ireland management committee.
Markel International launches specialty division in international wholesale
Markel has launched a specialty practice within its international wholesale division bringing together its equine and livestock, marine and energy liability, trade credit, political risk, and surety underwriting teams, as well as its new international…
Allianz targets doubling brokers in Accelerator Programme to 250 next year
Mike Thomas, director of distribution for digital and mid-market at Allianz Commercial, has set his sights on reaching 250 brokers in its Accelerator Programme next year.