News
Lloyd’s hits 2020 women leadership target as it unveils latest DE&I data
Lloyd’s has admitted it has a “way to go” on its “culture journey” after hitting its short-term target of 35% of leadership positions (+3 percentage points) to be filled by women, set in 2020.
Flood Re becomes first public body to be a Biba partner
Flood Re has become the first public body to join the British Insurance Brokers’ Association.
RSA launches enhanced A&H proposition
RSA has launched a group personal accident and business travel cover designed to give organisations and their employees “always-on protection”.
Kingfisher sells travel sector broking arm after product review
Advantage Financial Services, a bond and insurance broker specialising in the travel sector, has acquired Cork, Bays & Fisher from Kingfisher Insurance Services.
Lonmar picks up bloodstock book renewal rights
Lonmar Global Risks, part of Bridge Specialty International, has acquired the renewal rights for a bloodstock portfolio from Norwich-based St Benedicts.
JMG buys Madoc & Rhodes
JM Glendinning Insurance Brokers has purchased Birmingham-based Madoc & Rhodes, adding to its growing portfolio.
Hiscox reveals UK growth in 2023 as group profits soar to record
Hiscox grew gross written premiums across its SME and personal lines books in the UK by 2.4%, stripping out the effect of currency exchange, to $793.8m (£625.7m) in 2023.
Former Marsh boss Nick Harris joins Gallagher as UK & Ireland retail CEO
Gallagher has appointed Nick Harris as CEO of its UK & Ireland retail division, moving across from Marsh.
Aviva re-enters Lloyd’s with £242m Probitas buy
Aviva has signed up to buy all of Probitas for £242m, signalling a return to the Lloyd’s market.
Miller expands into parametric insurance
Miller has launched a global parametric team headed by Alice Glenister in London.
Bravo Networks’ SME e-trade platform goes live
Bravo Networks has launched Bravo Digital Trader, with Zurich writing the first policy.
FCA’s Mills commits to using all regulatory tools in flats insurance update
Sheldon Mills, executive director of consumers and competition at the Financial Conduct Authority, has promised to use all regulatory tools at the watchdog’s disposal in an update on progress for multi-occupancy buildings insurance.
Motor insurance complaints to FOS climb again
Motor insurance has remained in the top five most-complained-about products with buildings insurance also joining the list, according to the Financial Ombudsman Service as it released data for October to December last year.
BSpoke completes ‘game changer’ of a deal
BSpoke Group has completed the acquisition of the personal lines business of the Police & Forces Mutual businesses, Police Mutual Healthcare and Police Mutual General Insurance, from Royal London.
People Moves: 26 February – 1 March 2024
Stay in the loop with the latest insurance personnel moves.
Biba adds Iprism for high value home scheme
The British Insurance Brokers’ Association has appointed Iprism Underwriting to provide members with access to a high value home insurance scheme, Insurance Age can reveal.
MCE administrator report reveals £35m HMRC claim as totals soar
The administrator of MCE Insurance has received £155.7m in unsecured claims from trade and expense creditors with the figure ballooning from £32.3m, the latest progress report has revealed.
ABI campaigning for IPT cut
There has never been a greater need for a cut in Insurance Premium Tax according to the Association of British Insurers as it campaigns for an immediate drop in the rate.
News analysis: What next for the motorbike market after Axa’s withdrawal?
Axa’s withdrawal from the motorbike market next month has again raised questions about a potential capacity crunch for those brokers insuring two-wheelers. Saxon East explores what effect this and other trends are having on the sector.
Experts tackle factors driving claims complaints to five-year high
The industry needs to make it clear to consumers why premiums are rising according to specialists at the Association of British Insurers’ annual conference.
Ageas weighs up £3.1bn Direct Line bid
Ageas has confirmed a possible offer for Direct Line Insurance Group valuing the business at £3.1bn.
FCA ‘still learning’ about Consumer Duty, claims GI boss Brewis
No single metric will decide whether the Consumer Duty has been a success. But if people are no longer talking about it, that will be a positive sign.
Ageas reveals 20% UK GWP growth in 2023
Ageas has reported a 20% hike in UK gross written premiums to €1.49bn (£1.27bn) for 2023, as profits in the European division rose.
Treasury on ‘mission’ to build ‘open and innovative regulatory environment’
The Treasury is looking to build an “open and innovative regulatory environment” in which UK insurers can thrive.