Insurer
Saga’s exclusive Acromas sale talks collapse
Talks between Saga and Australian insurtech Open Insurance Technologies to sell underwriting business Acromas Insurance have ended without a deal, the over-50s specialist has confirmed.
People Moves: 27 February - 3 March 2023
Keep up to date with the latest personnel moves within insurance.
Code released to ease crisis in affordable premiums for tower block residents
The British Insurance Brokers’ Association and the Association of British Insurers have released a code for capturing risk information, one of the first steps in solving the crisis in affordable premiums for residents in tower blocks, Insurance Age can…
Polaris’s imarket hits new high with £322m premium in 2022
The number of policies traded on imarket, which connects broker software platforms to insurer systems for the placement of commercial lines, hit a record 497,883 in 2022, Polaris has revealed.
MGAA edges closer to membership milestone
The Managing General Agents’ Association’s CEO Mike Keating has revealed that the trade body is close to surpassing 200 full members in the next couple of months.
Beazley posts 14% GWP growth as profits nearly halve in 2022
Beazley has reported gross written premiums of $5.27bn (£4.4bn) for 2022, up by 14% on the year before.
Minister concerned Consumer Duty could unleash claims farmers – report
City of London minister Andrew Griffith is concerned Consumer Duty could unleash spurious lawsuits from claims management companies, according to a report in the Financial Times.
CNA Hardy unveils new product for multinational businesses
CNA Hardy has launched a new package product solution for multinational businesses called Atlas.
CFC targets start-ups and SMEs with intellectual property policy
CFC has launched a product specifically designed to protect start-ups and small businesses from threats to their intellectual property.
Jensten Group snaps up schemes broker Darwin Clayton
Jensten Group has bought schemes broker Darwin Clayton for an undisclosed amount.
Ansvar rolls out clubs, groups and societies cover
Ansvar, part of the Benefact Group, has launched a clubs, groups and societies policy for associations or organisations dedicated to a particular interest or activity.
UK leads on insurer M&A while MGA market ‘buoyant’
The UK led the way on carrier mergers and acquisitions in Europe during 2022, as the overall region saw 127 deals – a 1.6% year-on-year rise.
Fleet specialist Flock secures $38m in funding
London-based insurtech Flock has raised $38m (£31.7m) in series B funding led by Octopus Ventures.
People Moves: 20 – 24 February 2023
Follow the latest insurance personnel moves.
Axa grew UK and Ireland revenue 4% in 2022 but COR deteriorated to over 100%
Axa has posted €3.74bn (£3.3bn) of revenue in the UK and Ireland for 2022, up 4% from the previous year on a comparable basis, with growth in both commercial and personal lines.
Zurich flags rise in commercial crime claims as firms face average losses of £140,000
Theft at work in England and Wales has jumped by a fifth (19%), according to data released by Zurich.
Ageas confirms €23m December freeze hit as UK GWP drops
Ageas has reported an 11% fall in UK gross written premiums in 2022.
Customers, society and planet are at the heart of a three-year ABI strategy
The Association of British Insurers has rolled out a three-year strategy with a core focus of driving change to support customers, society and the planet.
Miller-linked new MGA Casper to focus on casualty
Managing general agent Casper Specialty UK has launched targeting the casualty market.
Brokers upbeat on growth but underinsurance concerns persist – Aviva research
Brokers are markedly more optimistic on growth, with 76% expecting their business to expand in 2023, up from 43% that had a positive outlook in 2022, according to Aviva.
Survey reveals pay concerns and potential further job-market churn
A survey by recruitment consultants Reed has revealed that a fifth of employees in insurance and financial services are actively seeking new job opportunities, and more than a third are considering looking for a new job.
Covéa exits HNW motor line
Covéa is no longer writing business in the executive motor space for high net worth, Insurance Age can reveal.
Covid and inflation costs bite as QBE International COR ticks up to 92.5%
QBE International has reported a combined operating ratio of 92.5% for 2022, which is up from 90.6% in 2021.
Are brokers bucking the trend of insurtech investment struggles?
According to a new Gallagher Re report, global insurtech investment fell in the fourth quarter of 2022 to its lowest level since the third quarter of 2020. Sophie Locke-Cooper details why some may be struggling even if there are signs of hope among…