Broker
WTW takes Lucy Clarke from Marsh as risk and broking president
WTW has swooped for Marsh’s Lucy Clarke as its new president of risk and broking.
PIB reveals £506m spend in 2022 as revenue hits £345m
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Aston Lark posts growth and deal costs including for Reich and UKGlobal
Aston Lark grew revenue by 22% to £84.5m in the year to 30 September 2022.
Biba adds wellbeing and employee benefits provider to associates roster
The British Insurance Brokers’ Association has added wellbeing and employee benefits provider Vivup as an associate, bringing its total of associates and partners to 68.
People Moves: 17 – 21 July 2023
Keep up to date with the latest insurance personnel moves.
Motorbike market is stable despite MCE downfall – brokers
Motorbike brokers believe the market is stable despite MCE’s broking business entering administration on Monday.
‘Start-up brokers have boomed’ – Movo beats 2023 targets early
The Movo Partnership, a specialist in helping launch appointed representatives, now has 92 brokers signed up, beating its year-end targets six months ahead of schedule.
FSCS broker pot compensation costs drop to £2m
The Financial Services Compensation Scheme paid out £2m in general insurance distribution compensation costs in the year ended 31 March 2023 – a £5m drop on the previous 12 months.
FCA names MCE administrators
The Financial Conduct Authority has confirmed that Mark Holborow, Vincent Green and Steven Edwards of Crowe UK are the joint administrators of MCE Insurance, as appointed by the company’s directors.
Esure and PIB investor Bain Capital raises $1.15bn for new insurance M&A arm
Esure and PIB Group investor Bain Capital has announced the final close of its inaugural private equity fund, Bain Capital Insurance Fund, LP at $1.15bn (£890m), above its initial target of $750m.
Blog: Is operational efficiency the new battleground for UK consolidators?
It is time to change the record on consolidation from talk of double digit acquisition multiples to evidenced efficiency improvements, argues Andy Fairchild.
Blog: PIB’s Brendan McManus on the future of insurance broking M&A
Fragmentation, low market maturity, employee benefit opportunities and lower pricing make Europe ripe for broking consolidation, according to PIB Group CEO Brendan McManus.
Flood Re on Build Back Better broker education drive
Brokers have engaged with Build Back Better, and want to communicate the benefits to clients, Flood Re CEO Andy Bord has confirmed, as the mutual reinsurer outlined plans to help educate the sector.
Brokers still not Consumer Duty ready despite survey boost – compliance experts
Compliance experts have issued warnings to brokers still not ready for the fast-approaching Consumer Duty deadline.
Flood Re policy numbers grow to more than 265,000
Mutual reinsurer Flood Re covered 265,826 policies in the year to 31 March 2023 – a 3.6% rise on the previous 12 months.
Motorbike broker MCE enters into administration
Motorbike broking specialist MCE Insurance Limited entered into administration last night, it has been confirmed.
New WTW Networks MD John Read sees “wealth of opportunities”
John Read has hailed the “wealth of opportunities” after stepping up to be managing director of WTW Networks.
Broking Success: Targeting the 100-year milestone
WH&R McCartney is believed to be the oldest independent broker in Scotland. With only a handful of years left to go until its centenary, directors Graeme Robb and Alan Kirkwood are confident of further growth and success for the Motherwell-based firm.
Ian Barclay leaves Ardonagh
Ian Barclay, managing director of Geo Agriculture, has left Ardonagh.
Opinion: SLAPP legislation changes and the insurance industry
Judges in the UK have been given powers to dismiss lawsuits, labelled by the UK government as intended to curtail the freedom of speech of journalists, at an early stage. Joe Wornham, senior technical underwriter – media liability at CNA Hardy, analyses…
Zurich exits regional and national broker personal lines channels
Zurich UK has today announced plans to refocus its personal lines home and motor business to concentrate on high net worth through Zurich Private Clients, alongside its MGA and partnership channels.
MGA stops underwriting and passes book to broker
Centrix Underwriting Management Ltd is passing its customers and renewals over to a broker, Insurance Age understands.
Biba grows net assets to more than £5m
The British Insurance Brokers’ Association has revealed a 21% increase in members’ funds to £5.1m at the end of 2022.
Think Insurance on the hunt for acquisitions – Russell Bence
Think Insurance is on the hunt for acquisitions, targeting brokers with around £3m of gross written premium, commercial director Russell Bence told Insurance Age.