Personal
In Depth: High net worth – are MGAs wrestling market share away from insurers?
Ever a competitive market, the high-net-worth sector continues to attract interest from both insurers and MGAs. Martin Friel asks if both models can co-exist, or if one is better suited to servicing these clients than the other.
Saga reports stable broking results as it pushes on with Acromas sale
Saga is targeting the sale of its underwriting business, Acromas Insurance, in the second half of this year – but arranged a loan in case a deal does not go through.
UK General lost £7.4m ahead of sale
UK General Insurance lost £7.41m in its financial year before being snapped up by RCapital and Montague, Insurance Age can reveal.
What does the More Than deal mean for the future of Ardonagh and RSA?
RSA and Ardonagh have their own distinct futures ahead. Ardonagh is a private equity-backed broker growing via consolidation, and RSA is intent on sharpening focus on its commercial broking relationships. The two have struck a deal on More Than's motor…
Double-digit growth and profit rises at Iprism after MBO
Iprism Underwriting Agency grew turnover by 15.3% to £9.44m in the year ended 30 June 2022 with profits rising even more.
Insurance Age unveils first ever UK Broker Week
Insurance Age is pleased to launch the inaugural UK Broker Week – which is being held between October 9th to the 13th.
Motor premiums accelerate again with 21.1% annual increase
The average cost of car insurance soared by a record 21.1% in the year to February, taking annual bills to £929, according to Consumer Intelligence.
RSA exits personal lines motor shifting renewals to Swinton
RSA has confirmed pulling out of the UK personal lines motor market, worth £120m in gross written premium, and signing up with Atlanta-owned Swinton on a renewals deal.
Steve Dukes named Confused CEO
Steve Dukes was promoted from chief operating officer to CEO at aggregator Confused, succeeding Louise O’Shea.
AssuredPartners continues south-west push with broker buy
AssuredPartners bought South West Brokers, which trades under the name of Westinsure Plymouth.
Premium Credit offering non-recourse solution for partners – Mark Coffey
Premium Credit has a non-recourse borderaux solution that remains available for interested partners, says personal lines and e-trade director Mark Coffey.
Is it MoreThan a rumour? Why RSA could look to dispose of private motor
There is widespread speculation that RSA wants to sell its private motor book. A deal makes sense to free the insurer from its troublesome book.
Hagerty launches private client service
Hagerty, a car insurance provider, has launched its private client service, which can be sold through brokers who have customers with a vehicle, or vehicles, worth £250,000 or more.
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.