Commercial
Analysts warn of further hit to UK property insurance market in 2023
Increasing weather-related claims and soaring rebuild costs will damage the profitability of UK property insurers this year, according to analytics company Globaldata.
AssuredPartners appoints Ben Crabtree as London MD
Ben Crabtree has been appointed managing director of AssuredPartners London. He will report to AssuredPartners International CEO David Heathfield.
Allianz appoints Graham Stait as Midlands and South West regional manager
Allianz Commercial has appointed former head of claims operations, Graham Stait, as regional manager for the Midlands and South West commercial regions.
Quote Me Today promotes Seager to CEO
Quote Me Today has promoted its chief insurance officer Andy Seager to become CEO, replacing founder Andrew Jackson who takes up the role of chairman.
JMG broker deal costs revealed
JMG Group’s ultimate holding company, Augusta Topco, picked up a bill of £17.26m for buying brokers in the financial year ended 31 March 2022, and followed it up with a further £57.7m outlay in the rest of the calendar year.
Lawyers urge brokers to be vigilant about their own E&O
Law firm RPC has warned brokers to be vigilant about their own errors and omissions, and to stay on top of documentation against a backdrop of customers potentially opting for cheaper, but less protective insurance, in the cost-of-living crisis.
Profits more than double and Ebitda soars at One Broker in 2022
One Broker has reported a more than doubling of post-tax profit to £1.2m for the year ended 31 May 2022.
Morton Insurance buys private hire business of Export & General Insurance Services
Morton Insurance has bought the private hire business of fellow London-based broker Export & General Insurance Services for an undisclosed sum, Insurance Age can reveal.
Allianz Commercial reports detected fraud up 11.2%
Allianz Commercial has revealed it detected £70.7m worth of insurance fraud in 2022, up 11.2% on the £63.6m uncovered the year before.
TMK moves into life sciences with Intellimed product launch
Tokio Marine Kiln has launched its inaugural life sciences insurance product, Intellimed, staking a claim for a Lloyd’s market first.
Top 75 UK broker posts record results with near 40% organic growth
W Denis has reported a 62% leap in profits after tax to £1.83m for the year ended 30 June 2022.
Amazon partner Superscript raises £45m in Series B round
UK-based insurtech Superscript has completed a £45m Series B funding round led by existing investor BHL UK, owner of Comparethemarket.
GRP delivers on MGA appetite with Nucleus buy
Global Risk Partners has bought Nucleus Underwriting, its first managing general agent acquisition since being taken over by Brown & Brown last year.
Sutton Group profit and turnover soar in run-up to Acrisure sale
Sutton Group has reported ‘best ever’ figures as turnover and profit leapt by 15% and 50% respectively ahead of being snapped up by Acrisure.
Jensten posts £21.5m loss as it reveals £35.1m Tasker price
Jensten has revealed that the deal for Tasker Insurance Group cost £35.1m with the majority of the bill – £33.6m – paid in cash.
Chambers and Newman reveals profit in Ardonagh sale year
Chambers and Newman has recorded a post-tax profit of £385,000 for the period including the sale to Ardonagh.
GRP buys Christopher Trigg Insurance Brokers
Global Risk Partners has bought Hedron Network member Christopher Trigg Insurance Brokers.
SRG starts 2023 with Fleet and Commercial buy
Specialist Risk Group has bought Oxfordshire-based specialist broker Fleet and Commercial in its first deal of the year.
Certua: Rise of the embedded insurance specialist
Certua is helping insurers get products to brokers quickly through its advanced digital capabilities. Co-founder Luke Bewley explains how Certua will make its mark on the UK broking and insurance space.
Review of the Year 2022: Sean Kemple, managing director, Close Brothers Premium Finance
In the latest part of Insurance Age's review of the year Sean Kemple, managing director, Close Brothers Premium Finance offers his reflections on 2022 and predictions for the next 12 months.
Brokers urged to tighten safeguards amid threat of client underinsurance backlash
Brokers are being urged to tighten safeguards amid the threat of businesses, suffering problems from underinsurance, taking legal action.
SRG spent £58.9m on buys in 2021
Specialist Risk Investments, which trades under the Specialist Risk Group brand, spent £58.91m on five acquisitions in 2021, a filing at Companies House has revealed.
Half of all UK businesses underinsured: Aviva
As many as 50% of all UK businesses are underinsured, according to Aviva estimates.
Video Q&A: NMU’s Guy Smith on being voted best commercial insurer by brokers
In this video, head of marine and specialty at NMU Guy Smith speaks to Insurance Age content director Jonathan Swift about its success in the annual Insurance Age Broker Satisfaction Survey.