News
Biba unveils new 5.2% regulation costs metric
The British Insurance Brokers’ Association has revealed for the first time the impact of regulation costs on insurance premiums paid by clients, setting the proportion at 5.2%.
Acrisure kicks off broker rebrands with Sutton Winson
Sutton Winson has become the first of Acrisure’s nine retail insurance brokers to rebrand in the UK being renamed as Acrisure UK Broking with others to follow during the course of the year.
Schemes and HNW help drive Q1 premium growth at Hiscox
Hiscox has hailed “very strong” schemes growth and double-digit expansion in art and private client business as the UK retail arm posted a 4.4% premium rise in the first quarter of 2025.
Ghost broker jailed for fake car insurance fraud
A man has been jailed for illegally advertising his services as an insurance broker on Instagram.
No new FCA skilled persons investigations into insurance in final quarter
The Financial Conduct Authority did not commission any skilled person reports in the insurance sector between January and March, leaving the running total for the 2024/25 financial year at 10.
Ex-Hiscox leader Jodi Cartwright named permanent UK CCO at Simply Business
Simply Business has confirmed Jodi Cartwright as UK chief commercial officer, focused on building partnerships, products and propositions that drive growth.
TH March switches to employee ownership trust
TH March, a jewellery and allied trades specialist broker, is transitioning to an employee ownership trust, in a strategic move it said secures the company’s long-term independence.
Broker recruitment market stabilises but retirements continue to rise
Aviva’s annual Broker Barometer has found 74% of brokers are recruiting, down from 94% in 2024, suggesting the market is stabilising and many brokers have successfully filled their staffing needs.
UK economic losses from natural catastrophes hit $800m in 2024 – Swiss Re
UK economic losses caused by natural catastrophes reaching $800m (£596.6m) in 2024 has shone a spotlight on the urgent need to strengthen resilience against future events, according to Swiss Re.
Exiting Esure owner Bain Capital tipped to lead on $2bn Acrisure investment
A group led by private equity house Bain Capital is in discussions with US-headquartered Acrisure, owner of Eleven Network and a Top 100 UK Broker, to invest up to $2bn (£1.49bn), Bloomberg has reported.
TBIG secures third deal of 2025
The Broker Investment Group has increased its shareholding in Mayfair Insurance to 100%, representing the final stage of a two-step succession plan.
CEO and founder Toby MacLachlan exits Ignite
Toby MacLachlan, CEO and founder of Ignite Insurance Systems, announced his departure on LinkedIn on Saturday 26 April.
FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
Aviva Health boss Steve Bridger takes claims role as Waseem Malik exits
Aviva has appointed Steve Bridger as chief claims officer for UK and Ireland general insurance, replacing Waseem Malik, who has left the business.
SRG to add credit and political risk team from Tysers
Specialist Risk Group has signed up for Tysers’ credit and political risk (re)insurance team to join the business.
People Moves: 22 – 25 April 2025
Follow the latest personnel moves in insurance.
UK commercial rates falling faster – Marsh
The pace of UK commercial insurance rates dropping quickened in the first quarter of the year, outstripping the global fall.
Biba 2025 Countdown: BluNiche UK’s Ed Mitchell
Ed Mitchell, head of BluNiche UK points to some exciting new product developments; suggests Manchester Art Gallery for a meeting with a difference; and hopes that they leave with fewer giveaways than they came with.
Probitas CEO Bathia and MD Bacon to retire
Probitas CEO Ash Bathia and managing director Nick Bacon will retire on 31 July 2025, a year after the £249m Aviva deal went through.
Gibson and Johnson set to leave Allianz after claims merge
Graham Gibson, chief claims officer for Allianz Commercial, and Caroline Johnson, claims director for Allianz Personal, are set to exit the insurer in Q4.
Cowbell makes first move beyond standalone cyber insurance in UK with PI launch
Cowbell, provider of cyber insurance for SMEs and middle-market businesses, has launched professional indemnity and cyber cover for technology companies with up to £1bn in annual turnover.
MGA Ventis targets number one real estate spot with brokers following Acturis deal
Managing general agent Ventis is launching into e-trade with Acturis, claiming it would be plugging a gap in an underserved market segment.
IPT receipts surge 9% to £8.88bn in 2024/25
Data from HMRC has confirmed receipts from Insurance Premium Tax jumped by £737m in the 2024/25 financial year reaching a new high of £8.88bn.
JMG strikes first deals of 2025 with triple swoop
JMG Group has made a trio of acquisitions in its first deals of 2025, having been the most active consolidator last year with 16 buys.