Commercial
PRA hands MS Amlin £9.7m fine
The Prudential Regulation Authority has issued MS Amlin Underwriting a £9.7m fine for failing to comply with regulatory obligations.
Specialty MGA UK launches with broker service promise
Specialty MGA UK has launched focusing on hard to place risks and specialty lines of business.
Trail: Premfina remains ‘very, very, ambitious’ despite £9.8m loss
Premfina Limited posted a £9.8m loss in its reserves last year, but has pledged to continue spending in its bid to become a major force in the insurance premium finance sector.
Stubben Edge buys Helodrium
Stubben Edge Group has bought regulatory and compliance experts Helodrium.
Broker PI expert Inperio extends capacity deal with Accredited until 2027
Accredited Insurance (Europe), the wholly owned subsidiary of R&Q Insurance Holdings, has signed a long-term extension with professional indemnity specialist managing general agent Inperio (London).
Carey moves from Aviva to Allianz in new mid-market role
Aviva’s David Carey has jumped ship to Allianz Commercial in a newly created mid-market role effective from April 2023, subject to regulatory approval.
NFP acquires one of the largest brokers in Staffordshire
NFP has acquired Bentley Insurance Services, its fifth broker acquisition in two years.
Stonegate BI judgement criticised for giving insurers potential furlough 'windfall'
The High Court judgement in the Stonegate Pub Company vs MS Amlin & Others business interruption case has been criticised by a law firm for potentially offering insurance companies an unexpected ‘windfall’ by discounting furlough payments from claims.
FR Ball announces merger with Wessex BS and acquisition
Abergavenny based brokers FR Ball has merged with high-street player, Wessex Business Services to create Wessex Insurance Brokers.
New roles for Jane Kielty and James Baum as Aon revamps UK commercial risk leadership team
Aon has appointed Jane Kielty as head of commercial risk UK with James Baum switching to be head of wholesale and specialty broking.
Zurich to open offices in Bristol and Southampton
Zurich is set to open an office in Bristol this year and aims to open in Southampton next year, Insurance Age can reveal.
Insurance set for boom in machine learning, Bank of England survey finds
Insurance is growing its adoption of machine learning applications faster than any other financial sector, a Bank of England survey has found.
Pen Underwriting Limited revenues in UK rise as it targets £1bn GWP
Pen Underwriting Limited’s turnover in the UK rose by 1% in 2021 as it remained on course for its £1bn gross written premium target, according to year-end accounts filed at Companies House.
Jensten completes Ravenhall buy
The Jensten Group has completed the purchase of Ravenhall Risk Solutions, following final regulatory approval, bringing an additional 2,500 clients and 25 staff to the group.
Zurich retail head Dave Martin quits
Zurich head of retail Dave Martin has resigned, Insurance Age can reveal.
Lloyd’s finishes cyber threat investigation and starts restoring online systems
Lloyd’s has found “no evidence” its systems were compromised following an investigation into a cyber threat.
Market Moves – October 2022
The latest recruitment news from around the industry.
Products: October 2022
Product launches including cover for electric vehicles, carbon credit insurance, the media and entertainment sector and private clients.
Lloyd’s cyber probe ‘advanced’ but online systems remain in shutdown
Lloyd’s external connectivity remains in shutdown as it continues to investigate the cyber threat that emerged last week.
Beazley teams up with fintech provider to expand broker schemes
Beazley plans to expand its schemes business with brokers using a fintech platform.
Seventeen Group returns to profit in 2021
Seventeen Group has posted a 27.2% increase in turnover for 2021 to £31.2m.
UK Broker Awards 2022: Commercial Lines Broker of the Year
This high-growth independent has withstood significant industry consolidation – and is determined to remain true to its Manchester roots. The past year has been good to this worker bee, with Vista achieving a record 40% for revenue growth and increasing…
News analysis: Post FCA Covid-19 test case how are brokers finding the BI market?
Business interruption was put in the spotlight during Covid-19, as insurers insisted that the pandemic was not covered in policies, Insurance Age looks at how BI has changed since then.
HDI streamlines specialty lines single risk underwriting
HDI Global Specialty UK has introduced a new structure in underwriting with six divisions or ‘pillars’ within its single risk business.