News
FCA proposes £7.5m BI special fee for insurers in levy consultation
The fee relates to legal costs following the BI test case and is part of a raft of proposed changes relating to fees and levies ahead of publication of the watchdog's budget for 2021/22.
CII reports loss for 2020 due to "significant" pandemic impact
The professional body also saw a drop in membership numbers during the year.
Aviva reveals management changes following Phil Bayles' exit
Gareth Hemming will take over as chief distribution officer at the provider.
Aviva's Phil Bayles exits the insurer for a role at Ardonagh Group
Bayles will take up the newly created role of chief commercial officer for Ardonagh Advisory, focusing on placement and growth initiatives such as M&A as well as overseeing Compass and Broker Network.
Alsford Page & Gems fined over appointed representative failures
The watchdog said the broker did not have adequate oversight and warned that it is increasingly seeing examples of “misconduct” stemming from principals’ failure to monitor their appointed representatives appropriately and flags AR fee consultation.
Macbeth buys Buckinghamshire broker
Its buy of Peter Lole takes its GWP up to £23m.
Momentum turnover rises to £7.8m in 2020
MD Howard Pepper says that several factors enabled the company to achieve growth despite the challenges presented by the pandemic.
Motor premiums see biggest drop since 2014
The pandemic along with pricing action needed to meet the FCA's crackdown on dual pricing is expected to cause continued uncertainty in the motor market, according to Confused/Willis Towers Watson.
Kingfisher confirms Fresh brands-sale to Right Choice
The sale includes Fresh-brands Autosaint, Ladybird and First Van.
People Moves: 19 - 23 April 2021
The key job changes in the world of insurance this week.
Kingfisher tipped to sell Fresh brands to Right Choice amid court battle
Kingfisher (formerly Vantage) bought Fresh in 2018. The sale follows Kingfisher taking the Fresh-sellers to court alleging it had been “induced to enter into the purchase by fraudulent misrepresentations made by and/or on behalf of the warrantors”.
Atlanta snaps up Be Wiser
Move follows redundancies and a number of management exits at Be Wiser and will see the personal lines broker operate alongside Swinton, Autonet, Carole Nash and Marmalade.
Aston Lark buys O’Loughlin Insurance Group in Ireland
Aston Lark Ireland CEO Robert Kennedy says further acquisition announcements are "imminent" as broker makes its second Irish deal of the year.
Ardonagh Specialty reveals capacity deal with Beazley
Business says cross class follow capacity solution will benefit Price Forbes clients across cargo, specie, terrorism, financial products, healthcare and marine.
Allianz offers free legal line for commercial customers
The insurer’s 24/7 telephone service can provide guidance on any business-related legal matter, from employment law to debt recovery and property disputes, as well as advice on Covid-19 related legislation.
MHIB and Biba launch largest ever insurance mental health survey
Head Lines: The survey will benchmark the health of people working in the insurance sector for the first time.
Acturis buys Brovada from Willis Towers Watson
Deal is the software house's second in the Canadian market.
SSP confirms job cuts as CEO Stephen Lathrope exits
CTO Kevin Gaut and COO Jim Sadler have also left the software provider, following the recent sale of SSP to Volaris Group.
Google: Why brokers are "key enablers"
Insurance Age meets Dr Henna Karna, who heads up reinsurance and risk management solutions at Google Cloud, to learn more about Google's insurance plans and discuss the future for brokers in a tech dominated landscape.
Xenia buys West Midlands-based trade credit broker
The Nexus-owned business says Credit Insurance Alliance Brokers will be integrated with its Credit Risk Solutions unit.
Analysis: The future of the networks model
Following on from GRP's surprise purchase of Marsh Networks, Martin Friel investigates how consolidation is changing the networks landscape.
BLM launches cross-industry property damage body to combat claims surge
The industry-wide property damage Task Force is meant to bring insurers, brokers, loss adjusters, legal specialists, and corporates together to identify emerging issues in the property claims sector.
1st Choice opens office in Willenhall
The Shrewsbury-based broker hopes to generate more business and create more jobs in the area as it expands across the West Midlands.
FCA data reveals progress as insurers settle Covid-19 BI claims
Updated figures show providers have made interim payments of £247.7m and final settlements of £352.1m since the Supreme Court verdict, but 12,217 policyholders are still waiting to hear whether their policies provide cover or not.