Insight
Interview: Sue Coffey, Covéa
With no distractions and a clear strategy centred on five core products, Covéa personal lines director Sue Coffey tells Jonathan Swift the insurer is keen to grow its share of the regional broking market, by sticking to what it is good at.
TH March switches to employee ownership trust
TH March, a jewellery and allied trades specialist broker, is transitioning to an employee ownership trust, in a strategic move it said secures the company’s long-term independence.
Biba 2025 Countdown: Coalition’s Tom Draper
Coalition UK managing director Tom Draper looks forward to filling an extra bag with Biba swag and giveaways; explains why Oasis’ Stand By Me sums up the event perfectly; and explains how it will be supporting brokers with relevant, real-world content on…
Broker recruitment market stabilises but retirements continue to rise
Aviva’s annual Broker Barometer has found 74% of brokers are recruiting, down from 94% in 2024, suggesting the market is stabilising and many brokers have successfully filled their staffing needs.
UK economic losses from natural catastrophes hit $800m in 2024 – Swiss Re
UK economic losses caused by natural catastrophes reaching $800m (£596.6m) in 2024 has shone a spotlight on the urgent need to strengthen resilience against future events, according to Swiss Re.
Exiting Esure owner Bain Capital tipped to lead on $2bn Acrisure investment
A group led by private equity house Bain Capital is in discussions with US-headquartered Acrisure, owner of Eleven Network and a Top 100 UK Broker, to invest up to $2bn (£1.49bn), Bloomberg has reported.
TBIG secures third deal of 2025
The Broker Investment Group has increased its shareholding in Mayfair Insurance to 100%, representing the final stage of a two-step succession plan.
CEO and founder Toby MacLachlan exits Ignite
Toby MacLachlan, CEO and founder of Ignite Insurance Systems, announced his departure on LinkedIn on Saturday 26 April.
FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
Aviva Health boss Steve Bridger takes claims role as Waseem Malik exits
Aviva has appointed Steve Bridger as chief claims officer for UK and Ireland general insurance, replacing Waseem Malik, who has left the business.
Biba 2025 Countdown: Beazley’s Sam Franks
Sam Franks, country manager and head of partner engagement for the UK & Ireland at Beazley, promises plenty of pink and underwriters on its stand; offers advice about how brokers can differentiate themselves from their peers in the market; and looks…
SRG to add credit and political risk team from Tysers
Specialist Risk Group has signed up for Tysers’ credit and political risk (re)insurance team to join the business.
The generational wealth gap and investment risks – a looming risk for brokers
Financial constraints have led to a greater reliance among younger generations on alternative investments that pose higher risks for investors and their financial advisors. As a result Kate Albert, CEO and co-founder at Kova Professions, warns brokers…
People Moves: 22 – 25 April 2025
Follow the latest personnel moves in insurance.
UK commercial rates falling faster – Marsh
The pace of UK commercial insurance rates dropping quickened in the first quarter of the year, outstripping the global fall.
Biba 2025 Countdown: BluNiche UK’s Ed Mitchell
Ed Mitchell, head of BluNiche UK points to some exciting new product developments; suggests Manchester Art Gallery for a meeting with a difference; and hopes that they leave with fewer giveaways than they came with.
Probitas CEO Bathia and MD Bacon to retire
Probitas CEO Ash Bathia and managing director Nick Bacon will retire on 31 July 2025, a year after the £249m Aviva deal went through.
FOI: Cyber incidents reported to FCA by brokers seesaw
A Freedom of Information request by Insurance Age to the Financial Conduct Authority has shown swings in the levels of general insurers and intermediaries reporting cyber incidents to the regulator with a general downward trend over the last three years.
Cowbell makes first move beyond standalone cyber insurance in UK with PI launch
Cowbell, provider of cyber insurance for SMEs and middle-market businesses, has launched professional indemnity and cyber cover for technology companies with up to £1bn in annual turnover.
Axa swings back to UK underwriting profits in 2024
Axa Insurance UK returned to underwriting profit in 2024 with a £45m result, reversing a £103m deficit in 2023.
MGA Ventis targets number one real estate spot with brokers following Acturis deal
Managing general agent Ventis is launching into e-trade with Acturis, claiming it would be plugging a gap in an underserved market segment.
IPT receipts surge 9% to £8.88bn in 2024/25
Data from HMRC has confirmed receipts from Insurance Premium Tax jumped by £737m in the 2024/25 financial year reaching a new high of £8.88bn.
JMG strikes first deals of 2025 with triple swoop
JMG Group has made a trio of acquisitions in its first deals of 2025, having been the most active consolidator last year with 16 buys.
Ex-EY boss Tony Sault joins Oxbow Partners
Former EY leader Tony Sault has joined management consultancy Oxbow Partners, tasked with extending the UK and Ireland general insurance practice.