Personal
First Underwriting exit a broker ‘blow’ in diminishing personal lines markets
First Underwriting’s exit from standard home and motor is a 'blow', say brokers seeking markets for personal lines.
Hiscox UK launches underwriting academy
Hiscox UK has launched its underwriting academy following a successful pilot in the fourth quarter of 2022.
Ecclesiastical UK & Ireland COR stable as investment losses drive group deficit in 2022
Ecclesiastical Insurance grew gross written premiums in the UK and Ireland by 16% in 2022 to £344.8m, the provider has revealed.
First Underwriting exits private car and home
First Underwriting, part of Kingfisher UK Holdings, has stopped writing private car and home business, Insurance Age can reveal.
FCA boss Brewis to address Consumer Duty concerns at Insurance Age event
Matthew Brewis, director of insurance at the Financial Conduct Authority, has been confirmed as the keynote speaker for the first Insurance Age Broker Breakfast event in Leeds next month.
Close Brothers premium finance drops 2%
Close Brothers has revealed a 2% fall in its premium finance book to £990.1m in its latest set of results.
Profits down two-thirds at Sabre in 2022
Sabre Insurance has reported a 66.5% drop in profit after tax to £10.1m for 2022, as the combined operating ratio deteriorated to 96% from 79.4% in 2021.
People on low incomes are giving up insurance due to ‘poverty premium’
More than half of people in poverty are finding it difficult to pay for their insurance, leading some to give up insurance as they prioritise food and energy bills, according to research by Social Market Foundation.
Commercial grows at Direct Line as group falls to £45m loss
Direct Line grew commercial business across NIG and its own direct brands by 14.7% in 2022 to £749.3m of gross written premium.
Hiscox “on the front foot” with brokers, says CEO Aki Hussain
Group CEO of Hiscox, Aki Hussain, has forecast further UK commercial growth, and a return to expansion in personal lines at the insurer in 2023.
Hiscox posts UK commercial growth for 2022
Hiscox has reported $778m (£657.8m) of gross written premium in the UK for 2022, as the wider group delivered its best underwriting performance since 2015.
McClarrons adds marine specialist Soak Insure as AR
North Yorkshire-based McClarrons Insurance Brokers has expanded into the marine market, taking on specialist Soak Insure as an appointed representative.
Turnover down but profit up at Open GI for 2022
Open GI has posted a fall in revenue for the third year in a row in its results for the year ended 31 May 2022.
Saga’s exclusive Acromas sale talks collapse
Talks between Saga and Australian insurtech Open Insurance Technologies to sell underwriting business Acromas Insurance have ended without a deal, the over-50s specialist has confirmed.
Axa grew UK and Ireland revenue 4% in 2022 but COR deteriorated to over 100%
Axa has posted €3.74bn (£3.3bn) of revenue in the UK and Ireland for 2022, up 4% from the previous year on a comparable basis, with growth in both commercial and personal lines.
Ageas confirms €23m December freeze hit as UK GWP drops
Ageas has reported an 11% fall in UK gross written premiums in 2022.
Covéa exits HNW motor line
Covéa is no longer writing business in the executive motor space for high net worth, Insurance Age can reveal.
Travel insurance provider TIF Group re-enters broker market
Travel Insurance Facilities Group has re-entered the broker market with a new dedicated portal.
Premier Choice Healthcare buys Visibly Health and further PMI portfolio
Global Risk Partners-owned Premier Choice Healthcare has bought Visibly Health and, separately, a book of business controlled by self-employed consultant Gill Nicholson.
Allianz reveals £32m December freeze hit and CEO Holmes predicts rate hikes to continue
Allianz Holding has revealed the impact of the winter weather on its bottom line, as CEO Colm Holmes forecast that the Q3 and Q4 rating hikes would continue into 2023.
Operating profit falls almost 60% at Allianz Holdings in 2022
Allianz Holdings has posted a 58.3% drop in operating profit to £132.3m for 2022 as its combined operating ratio deteriorated year on year from 93.2% to 99.2%.
FCA signs off on PIB's £24m Jigsaw buy
The Financial Conduct Authority has approved PIB buying Jigsaw Insurance Services Plc, as the consolidator eyes a significant push into the personal lines market.
FOS hones in on high motor insurance complaints
The Financial Ombudsman Service has zoomed in on the high level of complaints about motor insurance as it released the latest set of data.
Saga in 'exclusive' sale talks with insurtech over Acromas underwriting arm
Over-50s specialist Saga has confirmed that it is in exclusive discussions with Australian insurtech Open to sell its insurance arm Acromas.