Insight
Grove & Dean grows revenue and profits in “challenging” year
Niche motor specialist Grove & Dean grew turnover by 2.4% to £18.03m in the year ended 30 May 2024 with the broker’s profits rising faster.
Macbeth makes first deal in years buying Insurance Services Surrey
Macbeth has made its first purchase in almost four years with the acquisition of Guildford-based Insurance Services Surrey, its third ever buy.
Northern Ireland tops table for account exec pay rises
Insurance account executives in Northern Ireland had the highest percentage pay rises in the UK last year, with London-based employees still having the top wage but getting the smallest rate increase, according to a survey by Reed.
Adler Fairways completes first buy of 2025
Adler Fairways has purchased Giles Insurance Consultants, based in Burnham, Buckinghamshire, its first acquisition of the year.
Lords Committee ‘unconvinced’ on FCA name and shame proposal
The House of Lords Financial Services Regulation Committee is unconvinced on the FCA’s name and shame plans as it branded the consultation an “abject failure” and urged if concerns have not been addressed in the regulator’s second consultation the…
Allianz UK reveals detected fraud up 10% to £157m
Allianz UK has confirmed it uncovered 33,027 instances of insurance fraud worth a total of £157.24m in 2024, up 10% on 2023.
Allianz UK ‘lucky’ to have Phuong Ly, according to Australian insurance specialists
Australian insurance experts are positive on Allianz Commercial UK’s recent appointment of Phuong Ly telling Insurance Age he is a “great addition”.
Howden ‘absolutely not done’ with buying in the UK
Howden is targeting £10bn of revenue by 2030, having broken through the £3bn barrier last year, and is keeping its eye on the ball for organic growth and buying in the UK, according to CEO David Howden.
UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
Howden breaks through £3bn in revenue
Howden Group has broken through the £3bn adjusted revenue mark growing by 23% in the year ended 30 September 2024.
WTW delivers 8% organic growth in broking
WTW has revealed 8% organic growth in its risk and broking division for 2024 as the unit’s revenue rose to $4.04bn (£3.23bn) for the year.
ZPC extends high net worth wordings and reaffirms growth appetite
Kevin Morton, head of Zurich Private Clients, has committed to brokers that the business is in the high net worth market for the long-term as he unveiled a raft of policy enhancements in motor and home wordings.
New Arch UK MD bolsters regional division
Arch has made four senior promotions to new regional manager roles across the UK reporting to Mike Bottle, managing director of its UK Regional Division.
Ogden completes exec team with Godwin as COO for UK & Ireland at HDI
HDI Global has appointed Geoff Godwin from AIG as chief operating officer reporting to Stephanie Ogden, CEO for UK and Ireland.
Miller signs up to buy AHJ
Miller has struck a deal to buy UK headquartered Alwen Hough Johnson, a reinsurance broker that also places business in a number of niche insurance lines.
Hiscox hires from rival to launch new FI offering
Hiscox has launched a new financial institutions offering, headed up by Joe Dearsley who has joined from Liberty Specialty Markets.
Ecclesiastical crackdown uncovers more than £4m in fraud
Ecclesiastical uncovered more than £4m in fraudulent claims last year, almost £1m more than in 2023, in an ongoing crackdown.
CII reports 15% increase in insurance qualifications
The Chartered Insurance Institute has reported a 15% annual increase in the number of its insurance qualifications completed in 2024.
SSP Broker adds 10 insurer schemes in 2024 with 10 more planned this year
Managing director Martyn Mathews has targeted adding 10 insurer schemes onto SSP Broker this year, matching the achievement last year.
David Enoch retires from NIG and RSA
David Enoch, distribution and proposition director at RSA, is retiring after five years at the insurer and NIG during his 40 years in the financial services industry.
Gallagher revenues top $11bn
Arthur J. Gallagher has revealed a near $1.5bn (£1.21bn) leap in revenue for 2024 driven by acquisitions and organic growth.