Insight
Former broker brand Kwik Fit resurfaces
UK automotive servicing and repair company Kwik Fit has launched insurance for car owners on its website.
Car premiums drop for second quarter in a row
Comprehensive car insurance premiums fell by 6% (£59) between April and June 2024, the second quarter of decreases according to the latest research by Confused/WTW.
QBE unveils QCyberProtect
QBE Insurance has launched QCyberProtect, describing it as a comprehensive and globally consistent cyber policy designed to enhance cyber resilience for a range of clients worldwide.
Government starts discount rate review
The Ministry of Justice has confirmed the start of the 2024 review of the personal injury discount rate in England and Wales with a decision due no later than 11 January 2025.
Addept looks to go live in Q4 as it finalises capacity deals
Wholesaler Addept Insurance Services has revealed it plans to sell its first product in the fourth quarter, as it strives to hit a target of £5m net written premium by year three.
Academy turnover dipped in run-up to Blixt buy
Academy Insurance Services’ turnover and profitability fell in the run-up to being bought by private equity house Blixt, according to a filing at Companies House.
Underinsurance concerns mount as HNW clients cut cover – Ecclesiastical
Follow-up research among brokers by Ecclesiastical has pinpointed growing worries of high-net-worth underinsurance with a quarter of clients having reduced cover during the past year.
EY records worst motor performance since 2011 with 112.8% NCR
The UK motor insurance market experienced its worst performing year since 2011 last year, recording a loss-making net combined ratio of 112.8%, according to EY’s latest UK Motor Insurance Results.
Verlingue maintains profits as turnover ticks up in 2023
Verlingue UK grew turnover by 8% in 2023 to £21.07m as post-tax profits remained stable.
MGA “has to own its claims proposition” – Partners& boss
A panel at the Managing General Agents Association 2024 conference explained MGAs need to create a better claims proposition and own it.
Underinsurance: The silent threat to UK homeowners and how brokers can help combat it
Insurance brokers are well-positioned to collaborate with insurers to combat the underinsurance gap in the property market. Stuart Heath, head of delegated property at Tokio Marine HCC offers his four point plan as to how they can do this.
People Moves: 8 – 12 July 2024
Follow the latest insurance personnel moves.
My Insurance Downtime: Clear Group’s Dawn Dalby
Clear Group’s Dawn Dalby offers us a window into her life outside of insurance including her addiction to Married At First Sight, becoming a fan of Jeffrey Archer during jury service when 19 and a preference for winter comfort food.
Somerset Bridge swings to Ebitda profit as turnover doubles in 2023
Arch Reinsurance-owned Somerset Bridge Group trimmed post-tax losses in 2023 to £13m from £32m the year before, as it moved into positive Ebitda territory.
FCA head warns firms about “abdicating responsibility” by outsourcing claims
Lisa Sturley head of department of market interventions, insurance at the Financial Conduct Authority, has warned insurance firms about outsourcing claims to third parties.
Aureum Insurance Brokers launches in Milton Keynes
Aureum Insurance Brokers has launched as a trading name of Momentum, targeting property, construction, motor trade, manufacturing, IT & technology and professional services business.
PIB reveals costs of record 26 deals in 2023
PIB spent £331.9m on a record 26 deals in 2023 as the consolidator expanded in the UK and across Europe.
Aviva completes £249m Probitas buy
Aviva has completed the £249m purchase of Probitas after getting all the necessary approvals.
Interview: Nick Hobbs, Allianz Commercial
After the hardest but most energising 12 months of his career, Allianz Commercial’s chief distribution officer Nick Hobbs celebrates the insurer’s expanded appetite as he looks to bring even more quotes and solutions to brokers.
Insurance broker exits Love Island villa
Trey Norman, commercial insurance broker at One Call, has left the Love Island villa exiting after less than a fortnight on the show.
Axa Commercial promotes Dene Smith to regional director for the North
Dene Smith has been appointed regional director for the North at Axa Commercial, replacing Rob Corner who left in March.
SRG bolsters equestrian expertise with Carriagehouse buy
Specialist Risk Group has bought the ongoing business of Carriagehouse.
How specialist incubators are helping fuel MGA growth
The managing general agent sector is booming, creating increased demand for specialists who can help would-be MGAs get set up. Edward Murray explores this world of ‘incubators’, and highlights how they can help fledging businesses.
Seventeen buys Gen2 Broking
Seventeen Group has acquired Midlands-based Gen2 Broking, expanding its presence in the region.