Commercial
Momentum grows turnover and profit as it tops £50m GWP
Appointed representatives network Momentum has reported turnover of £9.9m for 2021, up from £7.8m in 2020.
Disappointed FCA warns brokers on consumer harms
The Financial Conduct Authority has written to brokers warning there are significant risks of potential harm that both the market and individual firms need to address and that it will take action where needed.
GRP-owned DCJ buys SM Commercial
DCJ Group, part of Global Risk Partners, has acquired 100% of the share capital of SM Commercial Insurance Brokers.
Brickell seeks to cancel £482m R&Q takeover deal
Randall & Quilter has revealed that Brickell has cited a “material breach” and moved to scrap the proposed takeover.
HDI restructures UK & Ireland operations
HDI Global and HDI Global Specialty’s UK and Ireland branches have been brought under a common leadership structure for the first time.
MS Amlin teams up with Altelium on battery energy storage insurance
MS Amlin Underwriting has partnered with insurtech Altelium to launch a battery energy storage system construction all risk and operational all risk insurance solution.
R&Q delays shareholder vote on takeover
R&Q has postponed the shareholder vote on being bought by Brickell until 25 May.
Blog: Commercial insurance fraud risk rises when data is taken at face value
As home and motor insurance providers employ ever more sophisticated tools to help identify application fraud and crack down on claims fraud, the risk is that the smaller end of the commercial insurance market could be next in line for a serious uptick…
Marsh McLennan responds to reports it is broking for oil pipeline project
Marsh McLennan has declined to confirm if it is arranging insurance for the East Africa crude oil pipeline but said it recognised the importance of a “secure energy supply” and flagged its commitment to helping businesses develop low-carbon models.
Income and Ebitda up at Ardonagh Advisory in Q1
Ardonagh Advisory has posted a surge in income for the first three months of 2022 to £95.5m.
Hug Hub to launch broker extranet service
Insurtech Hug Hub is to rollout an extranet service this summer in a move it said would save commercial brokers up to 75% of the processing cost in placing e-traded SME risks.
Aviva grows UK GWP by 4% in Q1
Aviva has posted a 4% rise in UK gross written premiums for the first quarter of 2022 to £1.24bn but a deteriorating combined operating ratio of 99.4%.
Aviva halfway to regional underwriter recruitment target
Aviva has added a net 20 new underwriters to its underwriting team in the regions, chief distribution officer Gareth Hemming told Insurance Age.
Deals poised to come to fruition, says Markerstudy leader Gary Humphreys
Markerstudy is keen to push on with further buys after securing BGL Insurance and Clegg Gifford at the turn of the year, according to group chief underwriting officer Gary Humphreys.
Biba launches underinsurance guide
The British Insurance Brokers’ Association has launched a guide to support brokers in helping their customers avoid the risks associated with being underinsured.
MGAA boss Keating pushing for more as membership growth continues
The Managing General Agents’ Association is approaching 350 members with plenty of scope remaining for further growth, CEO Mike Keating told Insurance Age.
GRP buys Durham-based Castle Insurance Services
Global Risk Partners has bought 100% of the share capital of Castle Insurance Services as the consolidator targets growing its presence in the North East.
DR&P buys Channing Lucas & Partners
DR&P Group bought a 90% stake in Lloyd’s broker Channing Lucas & Partners late last year, according to a filing at Companies House.
Biba launches drone scheme
The British Insurance Brokers Association has teamed up with Coverdrone to offer its members access to drone insurance products.
Broking Success: Strength in Scotland
Director Tom Yorke recounts his route from Giles to investing in Blue Rock Insurance Brokers, growing organically and competing on quality with the ethos of not doing speculative quotes as well as the opportunities for the Scottish broker as it targets…
Think targeting £30m GWP within three years
Think Insurance is currently looking at two more broker buys and has set a target of £30m gross written premium by 2025, commercial director Russell Bence told Insurance Age.
Landmark Underwriting makes two buys
Landmark Underwriting has revealed its first two deals after raising debt financing through SME lender BOOST&Co.
MUM reveals growth post Pen takeover
Manchester Underwriting Management has grown to just south of £70m gross written premium since being bought by Gallagher-owned Pen Underwriting, CEO Charles Manchester told Insurance Age.
Aston Lark buys UKGlobal
Aston Lark has bought UKGlobal Broking Group marking the consolidator’s 50th buy since being formed in 2018.