News Analysis
Ageas posts 25% growth from ongoing UK business
Personal lines broker-focused Ageas grew its ongoing UK business by 25% in the first half of the year to €651m (£558m).
Brokers urge new Aviva boss Storah to focus on empowerment
Incoming Aviva UK & Ireland GI boss Jason Storah has the chance to build on “solid” foundations and push ahead to deliver more empowered decision-making in the regional market, according to brokers.
Turnover tops £10m at Premium Choice as profits surge in 2022
Wolverhampton-based broker Premium Choice has posted 6.5% growth in turnover for 2022 to £10.03m and rising profits, with a forecast of a further boost in 2023.
Insurers urged to help nightlife industry amid fears of a capacity crisis
With the UK nightlife insurance market dominated by one capacity provider, industry experts have called for more competition amid fears any scaling back or exit would have severe consequences on the sector.
Allianz commits to investing in local structure to support brokers
“The strength of the Allianz commercial business in the UK is without doubt our local, regional capability in those markets and the ability to deliver,” Allianz Holdings CEO Colm Holmes told Insurance Age.
Tradex capacity growing to £450m after Pollen Street deal
As part of the Pollen Street Capital acquisition, Tradex’s capacity is growing from around £100m of gross written premium to £450m, Markerstudy group chief underwriting officer Gary Humphreys told Insurance Age.
‘Disappointing’ – brokers react to Zurich personal lines broker exit plans
Brokers have expressed disappointment at Zurich’s plans to exit personal lines motor and home on broker panels.
Markerstudy investor Pollen Street gets PRA approval for Tradex deal
Markerstudy’s owner Pollen Street Capital has completed the delayed purchase of motor trade and taxi specialist insurer Tradex after getting the greenlight from the Prudential Regulation Authority, Insurance Age can reveal.
Swindle targets doubling Ardonagh UK commercial MGA in three years
Ardonagh’s UK Commercial MGA CEO Jaime Swindle is targeting doubling the size of the business in the next three years taking it into the region of £500m gross written premium.
Ardonagh’s UK commercial MGA adds ex-Aviva leader Jackman as sales director
Former director of regional brokers, strategy and propositions at Aviva, Karen Jackman, has joined Ardonagh’s UK commercial MGA as sales director, Insurance Age can reveal.
Dayinsure’s Barry Bown made Abacai group CEO after Wilson exit and job cuts
Barry Bown, boss of Abacai Technologies owned-Dayinsure, was promoted to group CEO after the departure of his predecessor Mark Wilson, Insurance Age can reveal.
Abacai CEO Mark Wilson resigns as director as DLG/M&A speculation ramps up
A trio of co-founders at private equity-backed insurtech Abacai Technologies, including former Aviva Group CEO Mark Wilson, have resigned as directors, Insurance Age can reveal.
Clear unveils 10% organic growth for 2022 and £51m broker buy costs
Clear Group grew revenue by 26% to £56.7m in 2022 driven by 10% organic growth and five acquisitions.
‘A major breakthrough’ – ChatGPT bots to revolutionise broker customer service
Ignite Insurance Systems has launched a super-advanced artificial intelligence bot to answer insurance customer queries. Technology enthusiasts believe this is the start of an AI-powered chatbot revolution in dealing with customer interactions. But this…
Clear Group adds third MGA with Profile Risk Solutions buy
Clear Group has bought specialist commercial lines managing general agent Profile Risk Solutions, trading as Profile Underwriting, adding its third MGA in a month, Insurance Age can reveal.
Somerset Bridge Group turnover flat but losses narrow in 2022
Operating profit from Somerset Bridge Group’s broking arm, which includes GoSkippy and Vavista, fell in 2022 by 18% to £2.7m.
Tysers launches division targeting global entertainment industry
Tysers has gone toe-to-toe with Howden with the launch of Tysers Live, a new division dedicated to servicing the needs of the global entertainment industry.
Gauntlet launches ‘try before you fly’ AR option
The Gauntlet Group has launched a new ‘try before you fly’ option for people looking to become an appointed representative of the network, Insurance Age can reveal.
Motor specialist Lucida posts second year of double-digit growth
Motor specialist Lucida Broking Holdings grew turnover in continuing operations by 28% in 2022 to £47m, according to a filing at Companies House.
Drone MGA Moonrock to target brokers after getting FCA authorisation
Drone insurance specialist managing general agent Moonrock is to up its efforts to court the broker market after receiving full authorisation from the Financial Conduct Authority today, Insurance Age can reveal.
Interview: Chris Withers, Ecclesiastical
There is disruption in the schemes market and Ecclesiastical is taking advantage, says Chris Withers. Investment is being ploughed into its schemes, an important part of the insurer’s growth plans.
Lloyd & Whyte confirms 2022 deals spend
Lloyd & Whyte struck six deals in 2022 as turnover grew to £28.4m.
PIB reveals £506m spend in 2022 as revenue hits £345m
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Aston Lark posts growth and deal costs including for Reich and UKGlobal
Aston Lark grew revenue by 22% to £84.5m in the year to 30 September 2022.