Insight
Chubb rebrands division alongside media product launch in UK
Chubb has launched a media insurance product for clients in the UK, and rebranded its existing UK technology industry practice as the technology and media practice to reflect its new focus.
Pen launches TMK-backed IP cover in UK
Pen Underwriting has rolled out an intellectual property insurance proposition backed by Tokio Marine Kiln, which is aimed initially at UK businesses.
Romero ready to roll forward after AssuredPartners deal, says MD
Romero has found a “great” new home, and is ready to continue its growth journey under the new ownership of AssuredPartners, having doubled in size over the past five years.
Brown & Brown’s South East hub Greens buys Nsure
Brown & Brown has bought Worthing-based Nsure, a specialist commercial Chartered insurance broker with a focus on renewables.
Andy Fairchild peps up roles with Zing365
Former Broker Network boss and Applied Systems Europe CEO Andy Fairchild has joined insurance training specialist Zing365 as a board adviser and non-executive director.
AssuredPartners seals biggest deal yet with Romero buy
AssuredPartners has bought Leeds-based Romero Group, which includes Romero Insurance Brokers, Sentient Group and Club Insure.
Clear builds northern presence with Peter Hoare & Co buy
Clear Group has grown its northern footprint, snapping up Sheffield-based Peter Hoare & Company (Insurance Brokers).
Sedgwick names Neil Gibson as CEO in the UK
Neil Gibson has been appointed CEO of Sedgwick in the UK, stepping up from chief operating officer of the business’ operations in the UK, New Zealand, Middle East, Africa and Asia.
Jacqui Kelly on pushing forward with brokers at Zurich
Zurich will be deepening its relationships with brokers and building new partnerships in 2024 as it targets growth across SME, mid-market and high-net-worth business, head of sales and distribution Jacqui Kelly has committed.
Ecclesiastical calls on brokers to speak to HNW clients on underinsurance
Three out of five (62%) high net worth collectors are worried that their collections and art are underinsured, according to insurer Ecclesiastical.
Members’ 25% growth a “powerful” proof point, says Hedron leader Haggart
Hedron members grew by 25% in the past 12 months, according to analysis by network CEO Chris Haggart.
Turnover tops £17m at Bridge but profits slip
Bridge Insurance Brokers has reported a 16.3% fall in operating profit to £815,408 for the year ended 31 March 2023.
MCE has £9.1m surplus to pay creditors, according to former CEO
One of the two shareholders and former CEO of failed specialist motorcycle broker MCE, Julian Edwards, has informed the administrators that he understands there to be a surplus of £9.1m that could be used to pay creditors.
People Moves: 6 – 10 November 2023
Stay in the loop with the latest insurance personnel moves.
FSCS keeps broker levy at zero for 2023/24 and projects same into 2024/25
The Financial Services Compensation Scheme has maintained plans to keep general insurance brokers’ contribution to zero this year, and forecast that this will remain the case in the 2024/25 financial year.
Third year of institute operating losses at CII
The Chartered Insurance Institute has revealed an operating loss of £760,000 for 2022 in its institute division, where revenue and membership fell as the wider group swung back to overall profit.
Markerstudy prioritising certain business lines but denies capacity squeeze
Markerstudy has admitted prioritising certain business lines over others in the present hard market, as it denied experiencing a “capacity squeeze”.
Hedron teams up with Broker Insights
Hedron has partnered with Broker Insights in a two-pronged push on data for members, Insurance Age can reveal.
ABI calls for IPT cut as motor insurance prices hit record high
The average price of motor insurance increased by 29% in the third quarter of 2023, compared to the same time in 2022, reaching a record level £561, according to the Association of British Insurers’ Motor Premium Tracker.
Hiscox: Impact of non-core withdrawal to dissipate by end of 2023
Hiscox expects to see its UK topline growth ramp up in 2024 once it has finished exiting non-core underwriting partnerships, and its new marketing campaign starts to reap benefits.
Source adds Prestige Underwriting to home panel as it rolls out first own product
Source Insurance has unveiled Source Home, the first home insurance product it has created, and confirmed that Prestige Underwriting has joined its panel as the inaugural underwriter of the new common worded offering.
One Broker posts double-digit turnover and profit surge in run up to Jensten sale
Norwich-based One Broker has revealed achieving a 19.6% increase in turnover, and a 14.7% rise in post-tax profit ahead of its sale to Jensten.
Arch takes team from Aon to launch intangible assets offering
Arch Insurance International has taken a team from Aon after an agreement to acquire some assets of its intellectual property liability managing general agent business.
Insly secures £1.5m venture debt funding
Software provider Insly has secured £1.5m in venture debt funding from Hambro Perks.