News
RSA UK COR deteriorates to 101.8%
The insurer said the UK figures were “heavily impacted” by Covid-19 and, excluding the pandemic the UK COR was 95.8%, as CEO Hester reflects on group performance since 2014 and flags exit.
Beazley reveals digital push with new business unit
Beazley Digital was developed in response to growing demand for e-traded products from brokers and clients and will be led by COO Ian Fantozzi.
ERS posts surge in profit for 2020
COR also improved, while GWP was down on 2019 after a number of products lines were "materially affected" by Covid-19.
D&O specialist MGA Rising Edge set for "imminent" launch
Provider to bring new capacity to the London Market at a time of "unprecedented upheaval" in the D&O sector, with the aim to reinvent the way the industry operates.
Axa UK & Ireland P&C COR improves to 96.2%
The provider’s 2020 results showed that, despite a fall in revenue, COR improved as P&C business in the UK reports growth in personal motor and commercial lines.
Ex-Aviva boss Mark Wilson to lead insurtech venture after merger with Complete Cover Group
Motor insurtech Abacai launches with backing from Complete Cover owner Sun Capital and sees Wilson take charge as CEO alongside a leadership team including two executives from CCG.
Jensten moves in for second deal this month
It has bought Advance Insurance Agencies to act as a specialist personal lines hub for its franchisees and broking operation.
Iotatech launches policy admin platform for brokers
The proposition is also appropriate for MGAs and insurers and offers multi-line policy administration.
FCA finalises guidance on vulnerable customers
The regulator highlights that 27.7m UK adults could be categorised as vulnerable as it promises to hold firms to account for failures.
GRP snaps up Ipswich-based broker
Five Insurance Brokers specialises in the construction, manufacturing and process, haulage, motor trade and warehousing sectors and will become an appointed representative of GRP.
Ageas reports 95.2% COR
The improved position was down to lower motor claims due to the lockdown as the insurer reports growth in broker deals for household and commercial.
Aston Lark buys Kent-based Sennocke
Deal includes two niche brands - Self-Build Zone and Build-Zone - as well as technical surveying and risk management business Build-Zone Survey Services.
Some progress but still problems as Lloyd’s publishes culture survey
Since the last survey in 2019 4% of workers have witnessed sexual harassment, despite the 2020 lockdown, and just 57% feel concerns are listened to.
MCE commits to AI underwriting
The specialist motorcycle broker is using artificial intelligence to provide precision pricing and bundle quote, policy and claims data.
People Moves: 22 - 26 February 2021
Stay up-to-date with the latest personnel change in insurance.
WTW and Liberty Specialty Markets launch reputational crisis product
The proposition enables transfer of financial risk and is powered by AI data analysis.
Consolidators running out of M&A targets
IMAS analysis highlights “sobering conclusions” for buyers as potential targets diminish but broker M&A still reports record year in 2020.
Zurich takes stake in MyPolicy
The provider has also joined the panel of the analytics and telematics specialist.
Broker wordings behind Allianz's Covid-19 BI claims hit
UK CEO Jon Dye discusses the business interruption test case and why communication with brokers is critical, after Allianz revealed its total impact of Covid-19 BI claims in 2020 was £175m, net of reinsurance.
Mike Bruce lifts lid on GRP’s Marsh Networks deal
Bruce discusses growth plans for the networks business, what members will see differently following the acquisition and how GRP plans to add some “extra oomph” to the proposition.
Aston Lark reveals two fresh deals
The acquisitions will add £50m in annual premium income to Aston Lark, which says it is now set to become one of the biggest private medical insurance brokers in the UK.
LV confirms 300 redundancies following L&G takeover
CEO Steve Treloar explains the consultation process is now complete after the provider last year put up to 600 roles from across LV and L&G at risk as part of a restructure.
Allianz nears £4bn in GWP
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
Analysis: Are we moving towards market failure for high-rise buildings?
PI and property rates were hit hard following the Grenfell fire horror. Martin Friel investigates the wider insurance implications but is met with deafening silence from providers as brokers sound the alarm.