Insight
Astorg takes majority stake in Acturis
European private equity firm Astorg has boosted its investment in Acturis to over the 50% threshold.
Partners& acquires Switch Health
Partners& has acquired Cheltenham-based Switch Health to enhance its private medical insurance proposition for clients.
Meet the MGA: Phoenix Specialty
A new entrant into the construction insurance market, Tim James, managing director at Phoenix, explains how it is responding to the wide variety of risks that exist within the market in the UK today, with eyes on global expansion in the future.
AbbeyAutoline buys Martin Carey Insurance book
AbbeyAutoline has bought the customer book of business of Lisnaskea-based Martin Carey Insurance.
Thomas Carroll posts revenue growth in landmark employee ownership year
Thomas Carroll grew turnover 1.9% to £14.58m in a “historic year” when it switched to an employee ownership model.
Jukes strengthens presence in the Midlands with latest buy
Worcestershire-based Jukes Insurance Brokers has purchased SO Insurance Services, based in Solihull, growing its presence in the Midlands.
Bspoke ramps up in HNW with multiple ex-H&L appointments
The Bspoke Group has appointed Adrian Ewington as managing director of Bspoke Private Clients, its mid and high net worth specialist managing general agent.
AM Best keeps Accredited ratings under review after Onex buy
AM Best has maintained the under review status of fronting business Accredited after the sale to Onex Partners last week.
Insurance broker enters Love Island villa
Trey Norman, commercial insurance broker at One Call, entered the Love Island villa this week.
Acturis maintains growth streak with 19% revenue expansion
Acturis has posted a £22.75m rise in revenue for 2023 to £144.1m, its 22nd consecutive year of growth.
Partners& signs first international HNW partnership
Partners& has teamed up with Smith Brothers Insurance for its first transatlantic partnership in the international private client market.
Brokers lacking when it comes to commercial motor FNOL best practice
Brokers are lagging in educating commercial motor clients on the best practice when it comes to first notification of loss procedures.
People Moves: 24 – 28 June 2024
Keep up to date with personnel moves within the insurance industry.
CDL grows revenue but profit drops for second year in a row
CDL grew revenue by 6.9% to £59.54m in the year ended 30 September 2023, however profit after tax dropped for the second consecutive year to £10.01m.
Markerstudy and Atlanta merger completed
Ardonagh has confirmed the completion of the Atlanta Group and Markerstudy merger.
C-Quence seeks to “unleash” digital tools and target schemes after Sompo tie-up
C-Quence is looking to “unleash the breadth” of its digital capabilities and target more schemes business having switched capacity provider for its property and casualty and property owners propositions.
Optio takes Soni from Axa as CEO
Specialty managing general agent Optio Group has swooped for Axa UK commercial director Deepak Soni as its new CEO.
Avid targets £100m GWP by end of 2025
Managing director of Avid Insurance Services, Stephen Gibson, is targeting £100m of gross written premium by the end of 2025, growing from around £75m to £80m this year.
FCA encourages monitoring review ahead of first Consumer Duty annual report deadline
The Financial Conduct Authority has found many firms need to make improvements in their monitoring to enable them to determine whether they are delivering good outcomes for retail customers, as required by the Consumer Duty.
Cannabis MGU hires Midson to build network with UK brokers
CannGen Insurance Europe has recruited Alan Midson as development director for the UK and Europe with a remit of building out the company’s network of brokers in all legalised countries.
Application and ghost broking motor fraud up 64% at Aviva
Aviva spotted fraud on more than 51,000 motor policy applications last year, up 64% on its 2022 detection figures, the insurer has revealed.
The stats: Q1 2024 - Commercial combined slows to near halt
The year has started with almost no average premium growth in commercial combined while fleet and property owners have powered ahead, according to the latest statistics from Acturis.
SRG buys schemes broker Strategic Insurance Services
Specialist Risk Group has signed up to buy Strategic Insurance Services in the consolidator’s first deal since its new backers were revealed.
Sompo adds Axa XL broker boss Allan Murley with regional remit
Sompo has recruited Allan Murley as head of UK insurance distribution from Axa XL to join in the fourth quarter of the year.