Insurer
Iprism trebles profit to £1.8m in 2023 results
Iprism Underwriting Agency has more than trebled its profit for the financial year ended 30 June 2023 according to its latest Companies House filing.
RSA confirms trading structure ahead of NIG integration
RSA Insurance today confirmed its new regional trading structure ahead of the integration of NIG on 1 May.
In Depth: Managing cyber risk in an ever-changing security landscape
In today’s interconnected digital landscape, cyber threats are becoming more sophisticated, posing serious risks to organisations and their partners. Aviva’s cyber senior risk consultant, Oliver Osei-Ofosu, explains the importance of cyber security can…
Winslow reunited with Aviva CFO Poole at DLG
Direct Line Group has appointed Jane Poole as group chief financial officer of the company, subject to regulatory approval.
In Depth: Cyber risk and AI – friend or foe?
The rise of artificial intelligence signals both a threat and opportunity for UK firms in pursuit of a cyber-secure future. But how can brokers help clients stay on the winning side, asks Saxon East.
NBS Underwriting rolls out commercial combined
NBS Underwriting has added commercial combined insurance to its product portfolio building on the acquisition of Capital Markets Underwriting.
FSCS details £23m MCE Insurance Company recovery from £90m hit
The Financial Services Compensation Scheme has secured £23m from the estate of Gibraltar-based Green Realisations 123, formerly known as MCE Insurance Company, after paying out approximately £90m in compensation to the firm’s customers.
Aviva completes on £453m AIG Life deal
Aviva has confirmed that, following receipt of all necessary approvals, it has completed the acquisition of AIG Life UK.
In Depth: New dimensions in cyber risk
UK businesses are under increasing threat from cyber attack, yet it remains one of the most underinsured risks. Saxon East reports
Acies launches MGA backed by Axa capacity
Acies MGU has launched construction-focused managing general agent Phoenix Specialty with capacity backing from Axa UK.
Ex-Ecclesiastical leader Adrian Saunders joins Iprism as NED
Managing general agent Iprism has named former commercial director of Ecclesiastical Insurance, Adrian Saunders, as a non-executive director.
People Moves: 2 – 5 April 2024
Follow the latest insurance personnel moves.
Open GI swoops for Hug Hub’s Digital Platform
Open GI has bought Hug Hub’s Digital Platform which offers portal capability for insurance brokers and managing general agents.
FOS confirms levy cut but forecasts more insurance complaints
The Financial Ombudsman Service has set its levy for 2024/25 at £70m despite anticipating an increase in operating expenditure and caseload.
FCA adds four more S166s to sector
The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.
Beazley Digital’s Fantozzi: SMEs need to be alert to cloud-based cyber exposure
Small businesses face a growing threat of cyber-attacks as they move more services to the cloud, according to Ian Fantozzi, CEO of Beazley Digital.
ABI publishes guide on improving support for autistic customers
The Association of British Insurers has published a good practice guide for the insurance and long-term savings industry on supporting autistic customers.
Esure posts trading and post-tax losses for 2023
Esure swapped a trading profit of £49.8m in 2022 for a loss of £16.7m last year, the insurer has confirmed.
Applied updates on commercial push
Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.
People Moves: 25 – 28 March 2024
Keep up to date on the latest personnel changes in insurance.
Lloyd’s reports £10.7bn pre-tax profit for 2023
Lloyd’s swung back into the black in 2023 with £10.7bn of pre-tax profit reversing a red ink loss of £800m the year before.
Motor MGA KGM adds Ciaran Astin as managing director
Ciaran Astin has joined specialist motor managing general agent KGM as managing director, succeeding interim CEO Paul Kneafsey.
Gracechurch awards inaugural regional underwriting marques to Arch and Allianz
Independent insurance research consultancy Gracechurch has handed Arch and Allianz Commercial accolades as its first UK regional market underwriting service quality marque achievers.
Pool Re treaty modernisation to enable more flexibility for members
Pool Re members and HM Treasury have backed the board’s proposals to transform the government-backed terrorism reinsurer, switching the model of the scheme’s offering in a move the carrier stated would keep it relevant and fit for purpose in the digital…