News
MGAA boss Keating weighs in as broker survey backs dedicated MGA regulation
A recent survey of insurance brokers has shown backing for the establishment of a dedicated regulatory framework for MGAs, with 68% agreeing that the Financial Conduct Authority should regulate MGAs separately from insurers and brokers.
Peach and Alan Boswell partner on complementary therapy scheme
Peach and Alan Boswell Group have struck their second partnership as the Top 100 Broker aims to grow its bespoke scheme for complementary therapists.
Aviva Broker Community Fund shares £235,000 with 28 good causes
Aviva has announced the 28 winners of the 2024 Aviva Broker Community Fund sharing a pot of £235,000.
People Moves: 10 – 14 March 2025
Follow the latest personnel moves in insurance.
Zurich fraud detection rises to £94m
Zurich UK uncovered £94.79m of fraudulent claims in 2024, around £260,000 per day.
Ardonagh Advisory opens 2025 M&A account with Anderson & Co
Ardonagh Advisory has snapped up Blackpool-based Anderson & Co (Insurance Brokers), kicking off its buying for 2025.
Private equity firm takes minority stake in Seventeen Group
European mid-market private equity firm IK Partners has signed up to take a minority stake in Seventeen Group, marking its entry into the UK insurance market.
Hundreds of millions at stake as “wave of broker claims” predicted after Hastings tribunal win
Experts have predicted a “wave of broker claims” against HMRC potentially worth hundreds of millions of pounds following a recent decision at a First tier Tax Tribunal.
Experts respond to FCA shelving ‘flagship initiatives’ on enforcement, D&I and non-financial misconduct
The Association of British Insurers has welcomed the Financial Conduct Authority’s decision not to push ahead with enforcement investigation publicity plans, also known as ‘name and shame’.
FCA scraps D&I rules plan and delays non-financial misconduct update
Regulators have ended work on proposed rules and expectations aimed at improving diversity and inclusion in regulated firms.
FCA cancels broker’s permissions
The Financial Conduct Authority has cancelled the ability of George Baker (Insurance Brokers) to carry out any regulated activities, with immediate effect.
FCA u-turns on enforcement transparency proposals
The Financial Conduct Authority is not going ahead with changes to announcing enforcement investigations, proposals that were labelled ‘name and shame’ and led to a huge outcry across the financial services market.
Insurers launch dual Lloyd’s/company market stamp capacity for brokers
Lloyd’s insurer MS Amlin and its sister company Mitsui Sumitomo Insurance Company (Europe) (MSIG UK), have announced plans to expand their London Market footprint with the launch of a new dual-stamp underwriting capability.
Howden continues regional push with Milton Keynes hub
Howden has unveiled its new office in Milton Keynes, home to the relocated Bedford team and designed to be its base for expansion in the region.
MGA launches mid-market cyber product
Cyber manging general agent Onda has launched Onda X, a new product that supports mid-market companies in the UK and France.
Direct Line shareholders sign off on Aviva takeover
Shareholders of Direct Line Group have given overwhelming backing to the Aviva takeover by voting in favour of the proposal at its annual general meeting.
FUW launches account executive academy
Specialist agricultural insurance broker FUW Insurance Services has launched an internal account executive academy with six participants from its offices across Wales.
Lloyd’s sets scene for full-year results as COR ticks up to 86.9%
Lloyd’s has unveiled a combined operating ratio of 86.9% for 2024, with gross written premium rising to £55.5bn, in a trading update ahead of its full results later this month.
Pool Re consults on SME terrorism cover
Pool Re has launched a market consultation in an attempt to enhance terrorism cover for SMEs, as it warned only 4% currently have any.
PIB CEO hails ‘milestone’ as it buys MGA
PIB Group has acquired specialist litigation insurance managing general agent Litica.
Two fraudsters ordered to pay back £376,000 after ghost broking scam
A court has granted confiscation orders against two men who were convicted for their roles in a car insurance ghost broking scheme.
Gallagher deal for AssuredPartners delayed by request for more information
Broking giant Arthur J. Gallagher now expects to complete the acquisition of AssuredPartners in the second half of 2025, after it received a request from the US antitrust agency for additional information.
Brown & Brown buys Edinburgh-based MGA
Brown & Brown Europe has bought niche construction sector property and complex liability programmes specialist Premier Commercial.
FCA finds ineffective monitoring of outcomes for vulnerable customers
The Financial Conduct Authority has reported ineffective outcomes-monitoring for vulnerable customers by financial services firms, with some businesses lacking clarity on what good looks like, and failing to have clear measurements.