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 has admitted prioritising certain business lines over others in the present hard market, as it denied experiencing a “capacity squeeze”.
Hedron has partnered with Broker Insights in a two-pronged push on data for members, Insurance Age can reveal.
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 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 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.
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 Insurance International has taken a team from Aon after an agreement to acquire some assets of its intellectual property liability managing general agent business.
Software provider Insly has secured £1.5m in venture debt funding from Hambro Perks.
Managing general agent OneBefore has launched in the UK with the support of Mission Underwriters and capacity from Accelerant Insurance Europe.
UK insurers are expected to end this year reporting strong overall premium income growth ahead of further, but slowing, expansion in 2024 and 2025, according to EY.
Momentum Broker Solutions is on track to reach the £100m gross written premiums milestone by the end of 2024, which is a year ahead of target, according to Howard Pepper, its founder and managing director.
Aon has confirmed it will “bring together” the UK and Europe, Middle East and Africa regions on 15 November with Julie Page named as leader.
Fleet specialist 1st UK Broking is to open an office in Stoke-on-Trent in 2024 to add to its Sunderland base as part of its expansion plans.
Neil Utley’s investment in data intelligence provider Percayso Inform was spurred on by an understanding that the insurtech would have made his job a lot easier had it existed when he was chair of Hastings Direct.
Jensten has completed the takeover of East Anglia-based One Broker Group, following approval from the Financial Conduct Authority.
Nisha Arora, director of cross-cutting policy and strategy at the Financial Conduct Authority, has called on firms not to delay their preparations for the annual Consumer Duty board reports.
The post-Brexit insurance regime has flushed out the unstable offshore insurers that once passported into the UK through Europe. Some of the hard-to-place risks will have less options, so brokers must now step up and show their worth.
Pricing in the UK commercial insurance market fell by 1% in the third quarter of 2023, ending years of market hardening, research by Marsh has revealed.
Laurent Matras has returned to the UK market as chief underwriting officer at Tesco Bank.
After almost two complete years where each quarter saw a positive movement of at least 5.0%, growth in average commercial combined premiums dropped to 4.0% in the third quarter of 2023, according to the latest Acturis Commercial Lines Index.
Ardonagh has signed up to buy Assepro, describing it as the largest independent commercial broker for SMEs in Switzerland.
Some 67% of high-net-worth collectors want more art and collections risk guidance from their insurer or insurance broker, which presents an opportunity for brokers, according to research by Ecclesiastical.
Movo Partnership network has hit its £100m gross written premium target months earlier than originally planned.