Insurer
Blog: UK SME cyber resilience – let’s reverse the backwards trajectory
Ian Summerfield, head of cyber at Pen Underwriting, on how brokers and providers must work together to move the dial of SME cyber insurance.
Has cyber reached a tipping point with new entrants and incumbent product pushes?
Against a backdrop where the Financial Conduct Authority has warned the cyber insurance market over its concerns on policy wordings, a recent survey has found over one-third of brokers are still not selling this product. Siân Barton mulls whether a raft…
“Strong momentum” in UK commercial at QBE as international business rises in 2023
QBE has reported a 17% rise in net insurance revenue and gross written premiums for international business in 2023.
Insurance surge of 28% drives 2023 revenue growth at Moneysupermarket
Aggregator Moneysupermarket grew insurance revenue by 28% to £220m last year as group revenue rose 11%.
Ansvar launches business, office and retail policy
Ansvar has launched a business, office and retail policy designed for business activities of social enterprises, commercial organisations, shops and offices.
People Moves: 12 – 16 February 2024
Keep up to date on the latest personnel changes in insurance.
Simon McGinn builds Dual team with Allianz’s Catherine Dixon as CUO
Dual UK has appointed Catherine Dixon as chief underwriting officer and Rob Corner to the new role of chief distribution officer, reporting to CEO Simon McGinn.
Allianz creates financial lines claims team in D&O and PI push with brokers
Allianz has created an in-house financial lines claims team covering mid-corp and SME firms, focusing on directors & officers and professional indemnity business.
GI & Protection accounted for 4% of FCA financial promotions cases in Q4
The Financial Conduct Authority intervened to get 10,008 financial adverts and other promotions withdrawn or changed in 2023, a year-on-year rise of 17%.
All FCA authorisation metrics out of red zone
No Financial Conduct Authority authorisation metrics were rated red in the third quarter of 2023/24, with brokers also seeing an improvement in most key areas affecting the sector.
Allianz Commercial sees double-digit jump in fraud detection again
Allianz Commercial detected £77.4m worth of claims fraud in 2023 – up from £70.7m in 2022 – with application fraud savings of £1.95m.
Loadsure launches motor truck cargo insurance
Managing general agent Loadsure has launched Columbia, a motor truck cargo and logistics services insurance.
GAP insurers suspend sales after FCA concerns on fair value
Insurers covering 80% of the guaranteed asset protection market have agreed to pause sales after a request from the Financial Conduct Authority, the regulator has confirmed.
CFC creates team focused on tax related M&A transactions risks
CFC has established a specialist team to focus on underwriting tax risks connected to merger and acquisition transactions.
MGA to branch out with new life sciences Lloyd’s launch
Asta, through its third-party managing agency at Lloyd’s, has received “in-principle” approval for a new syndicate-in-a-box to deliver a product that aims to accelerate the development of new therapeutic drugs.
Zurich SME head Edwards: Speed and service key to maintaining double-digit growth
Zurich is seeking to improve its referral process and continue to invest in underwriters as part of its drive for double-digit new business growth across the SME space.
People Moves: 5 – 9 February 2024
Stay in the loop with the latest insurance personnel moves.
Aviva deal probed by CMA
The Competition & Markets Authority has opened an investigation into the anticipated acquisition by Aviva of AIG Life.
Home premiums up 4% in Q4 2023 – ABI
The average price of home insurance rose 4% in the fourth quarter of 2023, according to the latest Household Premium Tracker from the Association of British Insurers.
NFU Mutual appoints Zoe Knight as first head of commercial
NFU Mutual has named Zoe Knight as its first head of commercial as the insurer looks to push forward in the commercial market.
Banga commits to more Polaris developments as insurers push the boundaries on digital trading
Having just completed five years as managing director of Polaris, Vivek Banga has promised more developments from the “core and essential” digital trading offering in 2024 after £2.5m of investment last year.
Polaris reveals 21% imarket premiums surge to £394m in 2023
Insurance industry owned Polaris has revealed a 21% jump in premiums placed through its digital trading platform imarket to £394m in 2023 as policies broke through the half a million barrier.
DLG’s Bryson to replace Mooney as RSA commercial MD
RSA Insurance has announced that Sonya Bryson will replace Lee Mooney as commercial lines managing director, effective from 1 May 2024, subject to regulatory approval.
Markerstudy weighing up Northern Ireland options as it exits short-term market
Markerstudy has confirmed to Insurance Age that it plans to withdraw from the short-term motor insurance market.