Market moves: Mad for it

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Last month things went a bit mad in Manchester, with two insurers and an MGA creating brand new teams in the city. There were numerous other appointments across the insurance spectrum, and what most of them had in common was the city that gave us Oasis.

Manchester was this month’s recruitment hotspot, with several senior appointments as well as a few newly created teams arriving in the city.

Sterling Insurance announced the creation of a new team for the North of England (see box below) to be based there, while Tokio Marine Europe also chose Manchester as the base for its new UK construction practice, which will be led by David Wainwright, who left RSA after 37 years to take on his new role.

NIG appointed Warren Bainbridge, previously regional

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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