Market moves: welcome home

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October saw a lot of business development action with insurers chasing brokers and brokers chasing clients in the static UK economy. While there were numerous appointments across the board, as seems to have been the case throughout 2012, Scotland and the North had more than their fair share. Giles in particular focused on Caledonia with new business development executives joining the company in Glasgow and Edinburgh.

This month was as ever heavy on commercial moves, with Axa once again leading the way. Just as Ms Blanc moved from a broker to the insurer, so the new head of product development has swapped the world of broking for a role at the underwriter. One who moved in the opposite direction was Bernard Mageean (pictured left) who went from QBE to Towergate-owned Broker Network. To complete the triangle, Simon Taylor moved from competitor Willis Networks to the broking community, pitching up at Clear

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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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