Commercial
Seventeen Group reports rising turnover and Ebitda
Group CEO Paul Anscombe says the business is set to make acquisitions in the first half of the year, after pausing its deal-making plans in 2020 due to the pandemic.
PIB reveals its first deal of 2021
The consolidator has purchased construction specialist UK & Ireland Insurance Services.
FCA reveals financial resilience of brokers amid Covid-19
Survey shows that 43% of brokers used furlough scheme while 19% accessed other forms of government support when coronavirus pandemic hit.
Ataraxia targets ten more deals in 2021
MD Adam Boakes discusses its most recent investment, working with Peter Cullum-backed Minority Venture Partners and how the pandemic has affected the business.
Jensten reports loss in first full year results
The figures follow the management buy-out and include all areas of the business formerly known as Coversure.
Lickens steps down as Clear CEO
Howard Lickens will move to the role of executive chairman as former A-Plan MD, Mike Edgeley takes up the CEO mantle.
Scheme to protect credit insurance transactions extended
The UK government, the Association of British Insurers (ABI), Euler Hermes and other underwriters have agreed to extend the State Support Scheme as providers warn of increased insolvencies.
Specialist Risk Group acquires equestrian broker
KBIS was established in 1991 and specialises in horse, horsebox and trailer and equestrian business cover.
Compass London Markets teams up with Bishopsgate Insurance Brokers
Parent company Ardonagh says move will give UK brokers access to the Lloyd's market and follows its deal to buy Compass owner Bravo Group in August 2020.
GRP buys Birmingham broker
Global Risk Partners (GRP) has purchased Newstead Insurance Brokers for an undisclosed sum.
Partners& buys Focus Oxford Risk Management
The business specialises in science and technology and private clients.
Brunel Group opens new office in the North East following CEO relocation
Brunel Group has expanded into North East England with the opening of a new office in Stockton-on-Tees.
Specialist Risk Group bought by private equity
Miles Smith-owner has been purchased subject to regulatory approval.
RSA directors urge shareholders to vote in favour of Intact/Tryg takeover
Shareholders are set to vote on the deal, which would see the UK part of the business sold to Canadian provider Intact, in January.
BI test case Supreme Court judgment expected next year
The FCA has said that no judgment will be handed down before January 2021.
Silence on rumoured Gallagher/Bollington deal
Gallagher declined to comment on reports that it was in advanced discussions with the Manchester-headquartered business.
GRP buys digital commercial broker
Poole-based Insync has joined the GRP portfolio for an undisclosed sum.
FCA consults on how best to prove presence of Covid-19
The regulator is asking for comments by 18 January 2021 and says it does not expect this aspect of the BI court case to be affected by Supreme Court BI appeals.
FSCS begins payments after East West failure
A mystery third party has also offered to make a material financial contribution to the company.
Let Live Thrive highlights event insurance threat
The campaign, alongside EC3 brokers and Hiscox, has written to the Secretary of State for Culture, Media & Sport, calling on the government to underwrite events contingency cover post-Covid.
Axa’s defence in legal spat with property investor “untenable” say claimants
Martin McKeague, representing Aubrey Weis, says allegations made in Axa’s defence documents would have “huge ramifications” on the insurance industry.
Zego buys telematics firm
The motor provider has added Drivit to its portfolio as it seeks to shake-up commercial motor cover.
CPC replies after Lockton denies fraud allegations
Property investor Aubrey Weis to rely on admissions made by Lockton in its defence documents at trial, after the broker admitted that a certificate of insurance for the 2019/20 policy year had been issued containing an error.
Markerstudy's still in talks for commercial lines capacity deal
Group underwriting director Gary Humphreys says that the provider is speaking with a new carrier after it was forced to go "on hiatus" for new quotes in commercial lines almost a year ago.