News Analysis
Ardonagh kicks off 2024 with HNW deal
Ardonagh Advisory has bought private clients specialist distribution business Hoxton Risk Services in its first deal of the year, Insurance Age can reveal.
Apprenticeship and return-to-work schemes in Partners& 10-point plan
Partners& has set out a sustainability 10-point plan, part of its challenger strategy for 2024-26, which includes establishing an apprenticeship scheme and a return-to-work programme aimed at the over 50s.
Welsh broker aims to inspire others through appearance on the BBC’s The Traitors
Andrew Jenkins, commercial account executive at PG Insurance, found being on series two of the BBC’s The Traitors a surreal experience, he revealed to Insurance Age.
Reich posts flat turnover and lower profits as sale costs bite
Reich Insurance Brokers grew turnover by a ‘marginal’ 1% to £14.82m in the year of its sale to Howden.
W Denis profits slip back after record year
W Denis has posted a fall in profits and turnover for the year ended 30 June 2023, slipping back from record highs the previous year.
Caravan Guard reports profit drop
Halifax-based Caravan Guard has reported a 10.7% fall in profit after tax to £2.96m for the year ended 31 March 2023.
Partners& deal prices revealed
Partners& paid out £15.2m for five purchases made in the year ended 31 March 2023, a filing at Companies House has revealed.
JMG deal bill tops £60m as purchases and organic growth boost Ebitda
Augusta Topco, the holding company for JMG Group, faced a bill of £63.2m for seven broker buys in the 2022/23 financial year, far outstripping the £17.3m of acquisition costs the year before.
Cyber risk management education needed for SMEs, says Marsh
According to Kelly Butler, UK cyber leader at Marsh, cyber remains a top priority, and there is a disconnect between the insurance world and the cyber security world.
Inperio takes two PI underwriters from Liberty
Inperio has hired professional indemnity experts Sam Goodier and Kras Eneva from Liberty Specialty Markets, Insurance Age can reveal.
Clear Group widens reach with launch of European arm
Clear Group has launched a holdings business in Continental Europe, as it looks to make its first acquisition in the area, Insurance Age can reveal.
Abacai to pull out of broker business with CCG book transfer
Abacai is to pull out of brokered business in 2024 transferring the panel book of subsidiary Complete Cover Group to UDrive, Insurance Age can reveal.
Premium finance lenders ready to support brokers hit by BNP Paribas pullout
The leaders of broker-facing premium finance providers have reassured they can move quickly to help brokers affected by BNP Paribas Personal Finance’s decision to exit in 2024.
Zurich driving forward on digitisation for international programmes
Zurich has boosted digital interaction to 70% of international programmes in the last two years with a target of 100% by the end of 2025, according to Vinicio Cellerini, global head of customer and distribution.
Flock to push on broker relationships with NIG fleet partnership
Insurtech Flock has partnered with NIG on fleet insurance in a move that will also involve opening up more broker relationships, according to Ed Leon Klinger, CEO of the managing general agent.
BNP Paribas to exit premium finance in 2024
BNP Paribas Personal Finance will leave the premium finance market on 31 March 2024, Insurance Age can reveal.
Alan Boswell turnover and profits soar
Alan Boswell Insurance Brokers has posted a 50% rise in turnover to £31.1m with post tax profit leaping by more than £3m to £7.8m for the year ended 31 March 2023.
PSC confirms profit, Turner Rawlinson bill and latest buy
Australian-owned consolidator PSC Holdings UK has revealed a post-tax profit of £795,000 for retail broking, alongside a £6m bill for buying Turner Rawlinson and a further deal in 2023.
Insurers twitchy on pest controller insurance
As bed bugs infiltrated headlines across the UK last month, publicity for the pest control sector spread alongside them.
TH March grows again, but profits edge down
Specialist jewellery broker TH March grew turnover by 4.7% to £9.68m in the year to 31 March 2023, building on a 9.6% rise the year before.
Martyn’s Law to usher in new era of terrorism risk mitigation and management
New legislation aimed at protecting premises from terrorism attacks might be thin on detail. But brokers need be prepared to assess how it will impact their clients over the coming months, as Edward Murray discovers.
Judge denies Alec and Robert Finch fraud case appeal
A High Court judge has denied Alec and Robert Finch permission to appeal after being found guilty of fraud in September.
Allianz fleet head: hard market not going away soon
Property owners’ cover is the largest mover in this quarter’s Acturis Commercial Broking Index, which shows rates are up by 11.3% over the previous 2022 quarter.
Brown & Brown fills out retail exec with promotions
Brown & Brown Europe has bolstered its retail executive team under CEO Duncan Carter with a raft of promotions, Insurance Age can reveal.