Insight
Ex-Simply Business boss Jason Stockwood named as NED at Ripe
Companies House has confirmed the appointment of former Simply Business group CEO Jason Stockwood as non-executive director of managing general agent Ripe.
Seventeen Group lifts turnover in 2023
Seventeen Group boosted turnover by 21.8% to £45.31m in 2023 on the back of acquisitions and organic growth, as it trimmed losses compared to the year before.
SRG buys in Singapore as it starts Asia expansion
Specialist Risk Group has acquired HL Suntek Insurance Brokers based in Singapore, subject to customary closing conditions, to spearhead its expansion into Asia.
Broker Expo 2024: Sellers have to work harder in 12 months after acquisition
Richard Pitt, managing director at Critical Friend Partnership, observed at the Broker Expo 2024 that in the first 12 months after the acquisition, the seller is “probably going to have to work harder”.
CII institute pushes back into the operating black
The institute arm of the Chartered Insurance Institute Group returned to operating profit in 2023 with a £745,000 surplus after three years of red ink.
Third quarter of car insurance price falls – WTW/Confused
Comprehensive car insurance premiums have now dropped year-on-year after a third consecutive quarterly fall in prices, according to the latest findings by WTW and Confused.
Broker Expo 2024: Brokers urged to focus on claims to grow successfully
Brokers can easily get pulled into a ‘downward cycle’ which will thwart growth plans if they fail to manage their claims process.
Broker Expo 2024: Education part of solution to cyber cover confusion
Specialist insurers can provide cyber cover expertise and training to brokers to build confidence, according to experts at the Broker Expo 2024 in Birmingham.
Chubb launches construction industry practice
Chubb has launched a construction industry practice in the UK and Ireland ready to trade locally with brokers across its branch network as it also unveiled a new product for the sector.
Energy MGA Volt powers up
Volt Underwriting, a London-based MGA formed to support clients active in the energy transition sector, has launched with initial capacity of $25m (£19.14m) for international and US onshore power and renewable energy risks.
Broker Expo 2024: Biba encouraged by ‘step-change’ in FCA’s approachability
Head of regulation for the British Insurance Brokers’ Association David Sparkes told delegates at Insurance Age’s Broker Expo yesterday that he is encouraged by the fact that the Financial Conduct Authority is being more receptive to feedback.
Ardonagh completes PSC buy
Ardonagh has closed the deal for PSC Insurance Group in a move which includes bolstering its advisory business with a Top 100 UK broker.
Broker Expo 2024: Talent shortage threat to market
A panel of insurance leaders at Broker Expo 2024 in Birmingham has highlighted a shortage of talent as one of the biggest threats to the industry to solve together.
People Moves: 7 – 11 October 2024
Keep up to date with the latest insurance industry personnel moves.
My Insurance Downtime: Winn Group’s Mark Pallas
Mark Pallas, associate director and head of business development at Winn Group, offers us a window into his life outside of insurance, including how his ‘mam’s housework playlist’ informs his music tastes today, his love of boxing and why a family Sunday…
Ageas and Saga in £207.5m deal talks
Ageas has entered exclusive negotiations with Saga on a 20-year affinity partnership and buying Acromas in a package worth up to £207.5m.
Academy owner buys Airsports Insurance Bureau
Beyond Doubt Holdings, which operates as Academy and Premierline, has purchased Hampshire-based Airsports Insurance Bureau.
Broker stress levels hit six-year high
Two in five brokers have reported stress levels as high or very high, the record since Ecclesiastical’s annual Broker Wellbeing Survey was launched in 2019.
The general insurance sector in Glasgow – a dynamic market thriving in competitive times
As with many markets Scotland’s general insurance hub Glasgow has seen consolidation but Martin Friel notes both brokers and insurers are buoyant about the opportunities, with local empowerment key to success.
TBIG-backed Beam buys Julie Price & Co
JPM Group, trading as Beam Insurance Solutions, has bought Hinkley-based £2m gross written premium broker Julie Price & Co.
Romero posts £3m profit
Romero Insurance Brokers has reported £2.93m of post-tax profit in truncated results as it shifted its financial year end after being bought by AssuredPartners.
Experts say industry is improving on fair value despite FCA criticism
The Financial Conduct Authority’s findings that brokers are still struggling to provide evidence that their remuneration is consistent with fair value rules has sparked mixed reactions among people working in the sector. Ida Axling explores the fallout…
Sign up now for Broker Expo in Birmingham tomorrow
Insurance Age’s Broker Expo – free to attend for brokers – is kicking off tomorrow at Birmingham NEC, don’t miss out and sign up today.
Mulsanne premiums drop 40% in 2023 as it receives £22m capital injection
Mulsanne Insurance’s gross premiums fell by £75.3m during the year ended 31 December 2023 to £112.9m, according to its latest Solvency and Financial Condition Report.