Motor
Jensten strikes biggest deal to date as its snaps up One Broker
Jensten has made its largest acquisition to date, acquiring East Anglian-based One Broker Group for an undisclosed amount, subject to regulatory approval.
Lucida Group adds Jon Sutton as CFO succeeding Mark Mugge
Lucida Group, which includes Right Choice Insurance Brokers, Bennetts and Moorhouse, has appointed Jon Sutton as chief financial officer succeeding Mark Mugge.
Ex-Covéa UK CEO Adrian Furness joins Activate Group
Former Covéa boss Adrian Furness has joined accident management group Activate as managing director of its motor repair network business, taking up the post on 2 October.
Allianz reveals first Net Zero transition plan with 2030 intermediate targets
Allianz has published its first comprehensive Net Zero transition plan backing up its commitment to achieving net-zero emissions by 2050 in its proprietary investment and property & casualty underwriting portfolios.
Abacai transfers claims team to law firm
The owner of broker Complete Cover, Abacai, has entered into a strategic partnership with HF, which will see members of its volume claims teams transfer to the law firm.
Home insurance premium hikes hit new high, according to Consumer Intelligence
The average quoted price of home insurance rose by 25.7% in the past year – the highest annual increase on record, according to the latest Consumer Intelligence Home Insurance Price Index.
Turnover and profit drop at Ageas Retail in 2022
Turnover at broker Ageas Retail, which includes the Ageas Direct and Rias brands, fell in 2022 to £73.27m from £76.44m the year before.
RSA boss Norgrove in broker service promise after NIG deal
RSA CEO Ken Norgrove has vowed to maintain NIG’s high standards of broker service following the acquisition of the SME-specialist provider.
RSA swoops for NIG and FarmWeb in £520m deal
Intact Financial Corporation and its subsidiary RSA have reached an agreement with Direct Line Insurance Group to acquire its brokered commercial lines operations, including NIG and FarmWeb.
Motor payouts hit record £2.5bn in Q2, says ABI
Insurers paid out £2.5bn in motor claims in the second quarter of this year, according to the Association of British Insurers, the highest quarterly figure since it started collecting data in 2013.
Gallagher snaps up leisure and holiday broker Lifesure Group
Gallagher has gained ‘additional scale’ in the leisure sector following the purchase of a specialist broker.
Castle strikes second deal under GRP with Square Circle buy
Castle Insurance has bought 100% of Square Circle Brokers in its second buy since becoming Global Risk Partners’ North-East hub in May 2022.
Mulsanne blames poor performing schemes and inflation for latest solvency issues
Mulsanne Insurance Company has admitted speaking to its regulator the Gibraltar Financial Services Commission about solvency capital requirement issues for the second time in four years, Insurance Age can reveal.
Direct Line customers in line for £30m refund as insurer reviews past pricing in regulatory first
Direct Line has agreed to a voluntary review of previous home and motor insurance pricing having charged some customers more for their renewal than they would have done if they were a new customer, the Financial Conduct Authority has confirmed.
Ageas posts 25% growth from ongoing UK business
Personal lines broker-focused Ageas grew its ongoing UK business by 25% in the first half of the year to €651m (£558m).
Turnover tops £10m at Premium Choice as profits surge in 2022
Wolverhampton-based broker Premium Choice has posted 6.5% growth in turnover for 2022 to £10.03m and rising profits, with a forecast of a further boost in 2023.
Kingfisher snaps up Shepherd Compello motorsport book
Kingfisher Insurance has bought the motorsport book of Lloyd’s broker Shepherd Compello.
Biba, ABI and government renew age signposting insurance agreement as enquiries top one million
The British Insurance Brokers’ Association has confirmed the renewal of the signposting agreement with the government and the Association of British Insurers to help older people find car or travel cover.
Insurance scams totalling £1.1bn detected in 2022
The value of the average insurance fraud case rose by 20% to £15,000 in 2022, according to the Association of British Insurers.
Motor broker Verex Insurance Services enters into administration
Car Care Plan has bought the assets of both Verex Insurance Services and its appointed representative Verex Assistance.
Markerstudy 'temporarily' suspends product lines as part of Tradex transfer
Markerstudy has reiterated its “commitment to intermediaries is as strong as ever” amid speculation that it is pulling products from the broker market.
QIC’s profits surge after cull on loss-making business
Profits at Qatar Insurance Company (QIC) surged 181% to 325QARm (£70m) after it pulled back from challenging markets.
Motor insurance prices at record high – ABI
The average premium paid for private comprehensive motor insurance in the second quarter of this year was £511, according to the Association of British Insurers, the highest figure since it started collecting the data in 2012.
Allianz commits to investing in local structure to support brokers
“The strength of the Allianz commercial business in the UK is without doubt our local, regional capability in those markets and the ability to deliver,” Allianz Holdings CEO Colm Holmes told Insurance Age.