Broker
People Moves: 10 - 14 April 2023
Stay in the loop with the latest personnel moves in insurance.
Broking Success: Spotting a gap in the market
James Noble, CEO of My First, details how he started the broker because he noticed a gap in the motor market for first time drivers who needed guidance when searching for the right cover.
Lloyd’s joins Biba as a partner
Lloyd’s has become the 21st partner of the British Insurance Brokers’ Association.
GRP buys West Midlands broker
Global Risk Partners has acquired 100% of the share capital of Thompson and Co (Risk Solutions) Holdings.
Ecclesiastical urges brokers to help HNW clients protect their home offices
Ecclesiastical has warned that with rising inflation and the cost of living crisis, wealthy individuals and their home offices are prime targets for criminals, and has urged brokers to speak with clients about how best to protect themselves.
Is the MGA motor market braced for casualties amid a perfect storm?
Motor MGAs are suffering as they battle high claims inflation and tougher reinsurance conditions. With more players expected to exit standard motor, Saxon East asks if there is any way the market can navigate this tough terrain?
AssuredPartners-owned PSP seals two more deals
AssuredPartners-owned PSP Group has agreed to acquire the general insurance business assets of Sterling Select Insurance Services and Castle Sundborn.
NFP snaps up Gravity Risk Services
Acquisitive broker NFP has bought Gravity Risk Services for an undisclosed sum.
Menopause: What progress is the insurance sector making?
Menopause is becoming an issue where more and more insurance firms are raising awareness, offering staff support and embracing progressive policies. But how far have we really come? asks Saxon East.
Clear Group buys first international broker with MBC deal
Clear Group has acquired Irish commercial broker McAuliffe Barry & Collins Ltd (trading as MBC Insurance and Techinsure.ie), its first deal outside the UK, Insurance Age can reveal.
Cowbell enters UK cyber market targeting SME brokers
US cyber specialist Cowbell has entered the UK market with plans to sell its products exclusively through brokers.
PFS launches independent governance review amid “current challenges” with CII
The Personal Finance Society revealed an independent governance review just months after the Chartered Insurance Institute seized control of its board.
Ex-Marsh Commercial leader David Bruce joins Acrisure
David Bruce joined Acrisure as chief operating officer and network CEO, Insurance Age can reveal.
People Moves: 3 – 6 April 2023
Stay in the loop with the latest insurance personnel moves.
FCA proposes 10.4% hike to broker fees block
The Financial Conduct Authority is poised to raise fees for the general insurance mediation pot where brokers sit to £34.7m for 2023 to 2024, as its budget rises to £684.2m, including a £5.3m Consumer Duty cost.
The Needham Group buys PJ Insurance Brokers
The Needham Group has bought PJ Insurance Brokers, adding £2.5m gross written premium to the firm and taking its GWP total to more than £12m.
Interview: Eddie Hooker, Hamilton Fraser
Hamilton Fraser founder Eddie Hooker wants his broker to continue building digital excellence in commercial lines. He talks to Saxon East about the broker's beginnings, GRP's ownership, and plans for the future.
Pen Underwriting CEO eyes more M&A to get closer to £1bn GWP target
Pen Underwriting CEO Tom Downey claims the business is on track to hit its £1bn GWP target within three years - and that it will reach it by both diversifying and building on what it has already got.
Ardonagh Advisory announces first new deal of 2023 with Pace Ward buy
Ardonagh Advisory has announced its first new deal of the year with the purchase of Stoke-on-Trent based broker Pace Ward and revealed it has an “impressive pipeline of M&A”.
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.
JMG establishes new division after second motor deal in a month
Specialist HGV and motor trade insurance broker New Era has made its first acquisition within weeks of becoming part of the JMG Group.
Biba launches computer insurance scheme
The British Insurance Brokers’ Association has launched a new computer scheme, provided by specialist insurer HSB, to help protect computer hardware and portable equipment.
Spring Insure looks to court brokers in UK professional indemnity launch
Managing general agent Spring Insure has launched a commercial professional indemnity product in the UK and Ireland with backing from a new capacity provider.
GRP’s NE hub Castle buys M R Lonsdale
Castle Insurance Services has made its first acquisition since becoming the North-East hub of Global Risk Partners in May 2022 by swooping for fellow Durham-based broker M R Lonsdale.