Insight
Dozens of law firms caught in ‘very difficult’ PI market have closed
Nearly 50 law firms have had to close in just over a year as soaring professional indemnity costs bite hard, according to a legal adviser.
Sompo International expands outside London with Birmingham office
Sompo International has flagged the importance of getting closer to brokers as it revealed the opening of an office in Birmingham, its first in the UK outside of London.
Acrisure snaps up Affinity Brokers in Scotland
Acrisure has bought Glasgow-based Affinity Brokers in its 11th deal within the UK market.
Ageas makes significant changes to its UK executive team
Ageas UK has made two executive team appointments, with Rashmi Rao as chief information officer, and Stephen Linklater as claims director.
Analysts warn of further hit to UK property insurance market in 2023
Increasing weather-related claims and soaring rebuild costs will damage the profitability of UK property insurers this year, according to analytics company Globaldata.
AssuredPartners appoints Ben Crabtree as London MD
Ben Crabtree has been appointed managing director of AssuredPartners London. He will report to AssuredPartners International CEO David Heathfield.
Allianz appoints Graham Stait as Midlands and South West regional manager
Allianz Commercial has appointed former head of claims operations, Graham Stait, as regional manager for the Midlands and South West commercial regions.
One Broker targeting £4m Ebitda
Norwich-headquartered One Broker has targeted pushing Ebitda above £4m within two years through sustained organic growth and acquisitions, CEO Robin Plaster revealed to Insurance Age.
The Society of Insurance Broking names Yutree director Laura Hancock as chair
The Society of Insurance Broking, a part of the Chartered Insurance Institute, has appointed Laura Hancock as chair, effective this month.
Aviva enters offshore wind insurance market
Aviva has extended its renewable energy insurance offering into the offshore wind market.
Former Taoiseach Enda Kenny poised to join new Ardonagh International board
Ardonagh is planning to bring Enda Kenny, former Taoiseach in the Republic of Ireland from 2011 to 2017, into the company, a spokesperson has confirmed.
Zurich reports double digit boost in female senior hires
Some 45% more women were hired into senior roles at Zurich UK between January and November 2022, compared to the same period in 2019, the insurer has revealed.
Quote Me Today promotes Seager to CEO
Quote Me Today has promoted its chief insurance officer Andy Seager to become CEO, replacing founder Andrew Jackson who takes up the role of chairman.
JMG broker deal costs revealed
JMG Group’s ultimate holding company, Augusta Topco, picked up a bill of £17.26m for buying brokers in the financial year ended 31 March 2022, and followed it up with a further £57.7m outlay in the rest of the calendar year.
Lawyers urge brokers to be vigilant about their own E&O
Law firm RPC has warned brokers to be vigilant about their own errors and omissions, and to stay on top of documentation against a backdrop of customers potentially opting for cheaper, but less protective insurance, in the cost-of-living crisis.
Profits more than double and Ebitda soars at One Broker in 2022
One Broker has reported a more than doubling of post-tax profit to £1.2m for the year ended 31 May 2022.
People Moves: 9 – 13 January 2023
Keep up to date with the latest personnel moves in insurance.
Markerstudy takes £16m hit on its Brightside business value
Markerstudy has taken a £16m hit on the value of its Brightside business, according to the group's latest accounts.
Wayne Tonge takes on major role within PIB Group
Wayne Tonge has taken on the managing director role at PIB-owned Barbon Insurance Group, Insurance Age can reveal.
GRP buys BPW in South Wales
Global Risk Partners has made its third purchase of 2023, snapping up BPW Insurance Services in its first Welsh buy of the year.
Morton Insurance buys private hire business of Export & General Insurance Services
Morton Insurance has bought the private hire business of fellow London-based broker Export & General Insurance Services for an undisclosed sum, Insurance Age can reveal.
Imas reveals 35% drop in insurance distribution M&A in 2022
Initial analysis by Imas has detailed that mergers and acquisition deals for UK general insurance distribution firms dropped by around 35% in 2022, with fewer than 100 transactions announced versus 148 in 2021.
Allianz Commercial reports detected fraud up 11.2%
Allianz Commercial has revealed it detected £70.7m worth of insurance fraud in 2022, up 11.2% on the £63.6m uncovered the year before.
Ignite launches start-up broker accelerator with gender balance target
Ignite Insurance Systems has launched Ignition, an accelerator programme to help start-up insurance brokers create and grow their own businesses.