News Analysis
Circle expands again in 2024 financial year
Circle 1991, the holding company for Circle Insurance Services, grew turnover by 4.8% in the year ended 30 April 2024, a Companies House filing has revealed.
Strong solvency means insurers have capacity for M&A, says Fitch
There is surplus capital available for UK insurers to take advantage of any mergers and acquisitions opportunities, according to Graham Coutts, senior director for EMEA Insurance at Fitch Ratings.
New analysis: A short history of broker rebrands as Ardonagh bins ‘Towergate’
Yesterday Insurance Age revealed that Ardonagh Advisory is to become Everywhen, with the long-standing brand Towergate among those disappearing. Jonathan Swift takes a look at other post-2000 broker rebrands for pointers as to whether it might be…
Ardonagh Advisory to be renamed Everywhen with Towergate brand set to exit
Ardonagh Advisory will change its name to Everywhen this year, Insurance Age can reveal, with client facing brands including Towergate set to switch in a second phase moving into 2026.
Hiscox HNW head Holmes exiting for new broker role
Nicola Holmes, the head of broker in Hiscox’s art and private clients division, is to depart the business to pursue a new opportunity at an as yet unnamed intermediary, Insurance Age can reveal.
Half of brokers struggle to recruit those aged under 30
Two thirds of brokers (64%) claim recruiting young talent is a strategic challenge for their business, according to research by Ecclesiastical, Insurance Age can reveal.
Ex-Ageas boss Boisseau joins Howden as NED
Former Ageas leader Francois-Xavier Boisseau has been appointed as chair of Howden’s UK and Ireland retail board, taking up the post this month.
CEO Dave Clapp sets £400m target for The Broker Investment Group
The Broker Investment Group is aiming for 10 deals this year and double-digit organic growth to help reach its new target of £400m of gross written premium by the end of 2028, Insurance Age can reveal.
MarshBerry: Labour CGT change sees 2024 hit deal record after 41 buys in Q4
The final three months of 2024 saw the second highest number of quarterly broker deals, according to the latest M&A market update from MarshBerry.
Analysis: As we enter 2025 let’s ask one big question: ‘What will Marsh do next?’
Gallagher, Aon, Ardonagh and Howden have all had a busy 12 months in terms of consolidating their positions within the UK’s top five insurance brokers table. Their fellow intermediary powerhouse Marsh, however, has been comparatively quiet. Jonathan…
Organic growth and deals boost Bspoke to over £13m turnover
Bspoke achieved organic income growth of over 30% on established business in the year ended 30 March 2024, chief commercial officer Ryan Gill has confirmed to Insurance Age as turnover topped £13m.
SRG details acquisition spend in run-up to PE deal
Specialist Risk Investments, bought by Warburg Pincus and Temasek last year, spent over £65m on deals in 2023 and has detailed subsequent outlays.
JMG purchase costs drop to £19.6m in 2023/24
JMG Group spent £19.63m on acquisitions in the year ending 31 March 2024, settling the bulk of the bill in cash.
Jensten deal spend £119m in 2023/24
Jensten spent £119.35m on acquisitions in the year ended 31 March 2024, adding to investments of £73.3m and £36.2m in the previous two years.
W Denis boosts profits in 2024
Top 100 UK broker W Denis grew post-tax profit by 53% to £1.13m in the year ended 30 June 2024.
Brokers urge Aviva not to let DLG deal dull service
Brokers have hailed the ongoing improvements at Aviva and called on the provider not to be knocked off course in the regional market should the Direct Line Group takeover complete as expected.
FCA reveals review findings of first annual Consumer Duty board reports
The Financial Conduct Authority has set out five areas for improvements and five good aspects having reviewed the first annual Consumer Duty board reports from 180 firms.
FCA not seeking further headcount boost, says CEO Rathi
The Financial Conduct Authority is not “anticipating further significant growth” in headcount with the figure having risen from around 4,000 in 2020 to just over 5,000 today, CEO Nikhil Rathi has confirmed to the Treasury Committee.
Aviva promotes Mark Skillern to head of broker strategic accounts
Aviva has promoted Mark Skillern to head of broker strategic accounts, Insurance Age can reveal, with the provider labelling his promotion as “the final piece in the strategic accounts senior leadership team”, which is led by broker distribution director…
Aviva launches programme for rising stars of the broking world
Aviva has launched a programme targeting “rising stars” in insurance broking, to help brokers develop and retain young talent, Insurance Age can reveal.
RSA targets writing to brokers in January on commission as NIG integration progresses
RSA will have harmonised its baseline commission tables by the end of this year, according to Laura Fox, distribution development director, in the latest integration webinar after the deal for NIG.
Zurich’s Nikki Lidster on SME growth, mid-market blending and technology tie-ups
Zurich has achieved 30% SME growth in new business this year, with similar targets for 2025, UK head of SME and trading Nikki Lidster has revealed.
Analysis: Aviva’s bid for DLG – what are the pros and cons for UK insurance brokers
The industry was abuzz last week with the ramifications of Aviva’s £3.3bn bid for Direct Line Group. Jonathan Swift reflects on the weekend’s developments, and what the deal might mean for UK brokers should the possibility of a green light gain momentum…
Brokers raised concerns to Biba on initial FCA ‘name and shame’ proposals
Brokers raised concerns to the British Insurance Brokers’ Association about the Financial Conduct Authority’s original transparency proposals, the trade body has confirmed to Insurance Age.