Commercial
Acrisure continues UK expansion with CRK Commercial Insurance Services buy
US-based Acrisure has made its second UK broker purchase with CRK Commercial Insurance Services, following the acquisition of Russell Scanlan.
Ecclesiastical swings to half year loss on investment returns
Ecclesiastical Insurance has reported a pre-tax loss of £27.3m for the first half of the year compared to a profit of £46.5m in the same period of 2021.
Close Brothers reports premium finance drop
Close Brothers has posted a 4% fall in its premium finance book to £1bn in the year to 31 July 2022.
Complete Cover report details outsourcing to South Africa and job cuts
Complete Cover Group introduced a restructuring programme in the fourth quarter of 2021 to significantly reduce the UK workforce with much of the customer facing activities outsourced to South Africa, a Companies House filing has revealed.
Doyle to take over as Marsh McLennan CEO as Glaser announces retirement
Marsh McLennan has announced that John Doyle will take over as president and CEO at the beginning of 2023 succeeding Dan Glaser.
Zego doubling down on growth with 40 brokers
Zego is pursuing a route of working with brokers who “see how the future is evolving” rather than a working “with any broker” approach, CEO Sten Saar told Insurance Age.
RSA sets out strategic roadmap for 2025 with new "broker promise" vow
RSA has revealed its strategic roadmap for 2025 with a target of reaching a combined operating ratio in the low 90s and committed to unveiling a new broker "promise" in 2023.
Aviva “disappointed” at other insurers for not offering fairly priced multi-occupancy building insurance
Aviva’s UK & Ireland general insurance CEO, Adam Winslow, has responded to the FCA’s report on insurance for multi-occupancy buildings and has expressed disappointment in other insurers for not offering fairly priced insurance.
Government summons ABI to meeting on FCA tower block insurance report
The Secretary of State for Levelling up, Housing & Communities has written to Hannah Gurga, director general of the Association of British Insurers, telling the industry to accelerate its work on multiple occupancy buildings insurance and solve the…
Government writes to Biba slamming “amoral” flats insurance commission and demanding change
Government minister Simon Clarke has written to Steve White, CEO of the British Insurance Brokers’ Association, demanding immediate changes to unfair commissions and a plan to reform market culture and practice after the regulator’s report into multi…
Biba welcomes FCA tower blocks insurance report and flags commission rate fall
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s report on insurance for multi-occupancy buildings and broadly supported the key recommendations but warned of "unintended consequences".
MGA Spring Insure enters the commercial PI market with McManus hire
Spring Insure, the specialist financial and professional lines managing general agent, has appointed Paula McManus as senior professional indemnity underwriter effective 3 October 2022, Insurance Age can reveal.
ABI commits to working “at pace” on pool sharing risk solution after FCA flats insurance report
The Association of British Insurers has responded to the Financial Conduct Authority’s report on insurance for multi-occupancy buildings in which the regulator called for a cross industry pool.
Brokers hailed as a “critical” distribution channel for trade credit insurance by Allianz Trade CEO
CEO at Allianz Trade UK & Ireland, Sarah Murrow, has described brokers as a "critical" distributer when promoting trade credit insurance to clients.
FCA recommends Biba works on risk pool “to limit commission costs” in flats insurance report
The Financial Conduct Authority has warned of “significant concern” over some broker commissions in the multi-occupancy buildings insurance market and taken aim at a lack of transparency by the insurance sector in its dealings with leaseholders as well…
FCA sets out pooling and lower commission in flats insurance review
The Financial Conduct Authority has delivered its recommendations and potential remedies to reform the multi-occupancy buildings insurance market including a cross industry pool and lowering commissions.
Biba launches second guide on underinsurance
The British Insurance Brokers’ Association has teamed up with QuestGates to publish a guide to valuations for members to use with their customers.
PIB buys super yacht specialist Zorab Insurance Services
PIB has added to its specialisms division buying Zorab Insurance Services for an undisclosed sum.
Abbey posts turnover surge as profits rise in 2021
Abbey Insurance Brokers, which trades as AbbeyAutoline, has reported turnover of £26.6m for 2021, up 29.2% on the year before.
Car damage inflation cooling off - Jefferies
Jefferies’ UK motor insurance tracker has revealed that car damage inflation has dropped and is now at 7% year-on-year as the group maintained its forecast of a combined operating ratio of 116% for the market in 2022.
Edwards Insurance Brokers expands into Hampshire
Edwards Insurance Brokers has opened a new office in Fareham on the back of pandemic recruitment.
The stats: Q2 2022 - Pricey premiums pile on the commercial pressure
There have been rises across all classes, except fleet, as recent figures from the Acturis Commercial Lines Index reveal, putting pressure on companies. Rachel Gordon reports
Interview: Chris Wallace, executive director, UK, QBE Insurance
Chris Wallace, executive director, UK, QBE Insurance, speaks to Siân Barton about his career to date, a love for all things Latino and Liverpudlian and his plans for the future
TL Dallas posts 10% profit rise in 2021
TL Dallas Group has reported a 5.1% rise in turnover to £9.78m in 2021.