News
Policy Expert targets doubling within five years, says CEO Steve Hardy
Policy Expert is aiming to double its one million customer count through further organic growth, adding new lines and potentially international expansion and acquisitions in the next five years, according to CEO Steve Hardy.
Aviva UK sees COR deteriorate and operating profit slip
Aviva UK’s combined operating ratio for H1 2022 has deteriorated to 95.6% and operating profit dropped to £159m from £169m in the same period last year.
Registration opens for 2022 Dive In festival
Diversity initiative Dive In has opened registration for its 2022 festival as it calls on the insurance industry to build braver cultures.
C-Quence adds excess D&O product
Digital managing general agent C-Quence has added excess D&O to its financial lines product range.
FOI reveals scale of FCA investigation into leaseholder insurance
A Freedom of Information request by Insurance Age has revealed that the Financial Conduct Authority has held 59 meetings, 10 workshops, engaged Deloitte as a consultant and had up to 31 employees working on its ongoing investigation into multi-occupancy…
GRP-owned Newstead promotes Sarah Giles to managing director
Newstead Insurance Brokers has named Sarah Giles as managing director as part of a leadership restructure.
Tribunal overturns CMA Most Favoured Nation clauses ruling and £17.9m Compare The Market fine
A Competition Appeal Tribunal has overturned a decision by the Competition and Markets Authority which was set to fine Compare the Market £17.9m for breaking competition rules on use of Most Favoured Nation clauses.
Lloyds Bank changes track on broker account options
Lloyds Bank is to expand the number of options on the table for brokers just months after the furore over its move to close undesignated client accounts, Insurance Age can reveal.
Chaucer’s head of insurance insists the industry must be more inclusive for women
The head of insurance at Chaucer, Xamira Groves, has told insurance Age that there is “plenty more” to be done with women taking on roles in the insurance industry.
Gallagher buys specialist crisis and risk management consultancy AnotherDay
Gallagher has added global risk consultancy AnotherDay to its portfolio and the team will become part of its London specialty operation.
Ageas names Claire Green as director of distribution
Ageas has appointed Claire Green as its new director of distribution in a move it said was further evidence of its commitment to the personal lines broker market.
Gallagher denies negligence and breaches over Paradigm claim
Gallagher has hit back at claims by client Paradigm Housing Group that it acted negligently and breached its duty over cover for a £8m flat complex which had its roof blown off in 2020 storms.
PIB 2021 deal costs total £85.5m
PIB Group spent £85.5m in 2021 snapping up eight businesses, the broker’s annual report has revealed with revenue growing to over £230m including 9% organic growth.
NuVenture launches product recall MGA
NuVenture International has launched its third managing general agent, product recall insurance specialist BluNiche.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
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People Moves: 1-5 August 2022
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TL Dallas targets more branches after recent expansions
TL Dallas will open at least one more branch this year, managing director Polly Staveley has revealed to Insurance Age as she confirmed recent cost of living pay rises for all staff.
FCA warns of W.F. Fountain clone
The Financial Conduct Authority has warned of a clone using the name William Fountain Insurance Brokers.
RSA posts UK underwriting loss
RSA has revealed a £12m underwriting loss for UK business in the first six months of 2022.
TDI Academy launches scholarships for women in insurance
The Digital Insurer has announced it will provide fully paid scholarships to support the development of women leaders in the insurance industry.
Insurers flag climate change concern following UK heatwave
Insurers have pledged to focus efforts on reducing climate change and called on the industry to be better prepared for weather events.
FCA reveals final rules on appointed representatives
The FCA has confirmed new rules to make authorised financial firms more responsible for their appointed representatives.
Amanda Blanc joins BP board
BP has announced the appointment to its board of Amanda Blanc as a non-executive director.