News
Burns & Wilcox looks towards M&As, recruitment and online SMEs to bolster growth
The managing general agent and underwriting business has plans to expand its team, and is open to mergers and acquisitions as a tool for growth during 2023.
Crawford & Co launches automated livestock claims system
Crawford & Company has launched an automated claims settlement system for the UK livestock market, which is available to brokers, insurers and policyholders.
Ex-Applied Systems leader Joe Sultana joins digital schemes firm IS2
Joe Sultana, former chief operating officer at Applied Systems Europe, has joined digital trading and distribution platform for the schemes market IS2 as commercial director.
Insurers face £219m bill as heatwave drives surge in subsidence claims
The record-breaking heatwave in summer 2022 has led to an increase in subsidence claim payouts, according to figures from the Association of British Insurers.
FOS compensation limit hiked to £415,000
The Financial Conduct Authority has raised the limit on complaints awards that the Financial Ombudsman Service can dish out to £415,000.
Hiscox UK launches underwriting academy
Hiscox UK has launched its underwriting academy following a successful pilot in the fourth quarter of 2022.
Chaucer warns on underinsurance with construction costs at record highs
With rebuild costs 10.4% higher than a year ago, an average property insurance policy set to cover £1m could now be short for the full rebuild value, Chaucer has warned.
Ecclesiastical sells SEIB to Lloyd & Whyte
Ecclesiastical Insurance has sold SEIB Insurance Brokers to associated business Lloyd & Whyte for £45.2m, the insurer has confirmed.
Ecclesiastical UK & Ireland COR stable as investment losses drive group deficit in 2022
Ecclesiastical Insurance grew gross written premiums in the UK and Ireland by 16% in 2022 to £344.8m, the provider has revealed.
People Moves: 13–17 March 2023
Stay in the loop with the most recent insurance personnel moves.
Axa hails importance of face-to-face meetings as it seeks to be more visible
Distribution and trading director Sarah Mallaby claims Axa UK has seen an improvement in broker engagement, as it focuses on face-to-face trading complemented by an investment in digital products and support.
Lloyd’s reveals market increases in female and ethnic minority leadership
Lloyd’s has reported a two percentage points increase in the proportion of women in leadership roles to 32%, as it targets reaching 35% by year-end.
Intangic MGA launches with Axa XL-backed cyber parametric policy
Intangic MGA has launched with backing from Axa XL, offering parametric cyber insurance for large public corporations headquartered in the UK.
FCA boss Brewis to address Consumer Duty concerns at Insurance Age event
Matthew Brewis, director of insurance at the Financial Conduct Authority, has been confirmed as the keynote speaker for the first Insurance Age Broker Breakfast event in Leeds next month.
James Kent promoted to group role with Tom Wakefield named Gallagher Re CEO
Gallagher has promoted James Kent to CEO of global insurance strategic relationships, with Tom Wakefield succeeding him as CEO of Gallagher Re after a transition period.
Gallagher boosts education practice with FE Protect purchase
Gallagher has struck its first UK deal of the year – buying Liverpool-based FE Protect, which specialises in the education sector with a particular focus on further education.
Zurich UK launches climate change resilience services
Following the launch of Zurich’s Global Climate Change Resilience Services, Zurich UK is making the full range of services available to its domestic customers and it will also be available through brokers.
Profile: Abby Houghton – Young female broker
As part of Insurance Age's Broker Diversity Push - Gender Leadership Gap campaign, Sophie Locke-Cooper spoke with Brightside Insurance Services’ Abby Houghton about what it is like being a young female in the industry.
One Call tribute to ‘incredible talent’ director Oliver Rose, who died in a car crash
One Call CEO Nik Springthorpe has given a touching tribute to director Oliver Rose, who died in a car crash.
Close Brothers premium finance drops 2%
Close Brothers has revealed a 2% fall in its premium finance book to £990.1m in its latest set of results.
Profits down two-thirds at Sabre in 2022
Sabre Insurance has reported a 66.5% drop in profit after tax to £10.1m for 2022, as the combined operating ratio deteriorated to 96% from 79.4% in 2021.
SRG buys Consort Insurance
Specialist Risk Group has bought mid-market commercial broker, Consort Insurance, subject to regulatory approval.
JMG buys HGV and motor trade specialist New Era
JMG Group has bought former appointed representative, Stoke-on-Trent-based HGV and motor specialist New Era for an undisclosed sum.
People on low incomes are giving up insurance due to ‘poverty premium’
More than half of people in poverty are finding it difficult to pay for their insurance, leading some to give up insurance as they prioritise food and energy bills, according to research by Social Market Foundation.