News
Ex-Open GI duo launch digital marketplace for brokers
A pair of Open GI veterans have teamed up to launch what they describe as a “leading digital insurance marketplace", offering insurance brokers a "unique opportunity to acquire exclusive access to online leads”.
Broker Insights launches in the US
Insurtech Broker Insights has launched in the US following research and collaboration during which time it analysed almost $1bn (£770m) of gross written premiums.
MGA doubles D&O line size with Lloyd’s capacity deal
Managing general agent Rokstone has doubled its directors’ and officers’ (D&O) line size from £5m to £10m after securing additional capacity from Lloyds’ Syndicates.
Alan Boswell partners with Peach on teachers’ liability scheme
Alan Boswell Group has partnered with commercial insurer Peach to grow and enhance its teachers' liability scheme.
Clear adds £10m broker Vision to portfolio in South East
Clear Group has strengthened its presence in the South East buying Bagshot, Surrey-based Vision Insurance Services.
FCA non-financial misconduct survey ‘uncomfortable reading’ – CII
Insurance industry bodies and practitioners have welcomed the Financial Conduct Authority publishing the findings of its non-financial misconduct survey and see opportunity to drive change.
FCA non-financial misconduct survey leads to call for action and benchmarking
The Financial Conduct Authority has released the findings from its non-financial misconduct survey as a benchmark for firms to reflect on whether their own processes, procedures and controls provide both robust detection and appropriate outcomes.
People Moves: 21 – 25 October 2024
Stay in the loop with the latest personnel moves in insurance.
GI complaints to FOS drop as workload soars in first half of 2024
While the Financial Ombudsman Service’s workload surged upwards by 43% in the first half of the year, the number of general insurance and pure protection complaints fell by 8% compared to the start of 2023, new figures have revealed.
UK commercial pricing downturn accelerates – Marsh
UK insurance rates fell 5% in the third quarter, the fastest rate of decline since the drop started at the start of 2024, according to research by Marsh.
Aviva signs three-year property deal with Rokstone
Managing general agent Rokstone, part of the Aventum Group, has inked a three-year binding authority agreement with Aviva for its direct & facultative property portfolio.
Todd & Cue secures funding facility from Barclays
Todd & Cue has secured a funding facility from Barclays as part of a refinance supported by WilliamsAli Corporate Finance.
Markerstudy confirms motor specialist Collingwood buy
A spokesperson for Markerstudy Group has confirmed that backer Pollen Street Capital, in conjunction with Markerstudy, has agreed to buy Gibraltar-based Collingwood Insurance Services.
Movo Accelerator launched for start-up brokers
Movo Partnership has launched a platform for entrepreneurs to develop their own broking business, Movo Accelerator, in a first push since Tysers’s owners AUB took an 80% stake.
Epoq launches landlords legal expenses insurance
Epoq has teamed up with Temple Legal Protection to launch legal expenses insurance for landlords, adding to its portfolio after last month’s product release.
Premium finance charges as high as 37% but dropping overall – report
Pearson Ham has found average premium finance costs for motor and home insurance fell over the last year but also revealed charges as high as 36.8%.
Home insurance stays in the red at 118% NCR with more losses to come – EY
The UK home insurance industry delivered a loss-making net combined ratio of 118% in 2023, worse than predicted with more red ink to follow in 2024, according to EY.
Beazley targets financial institutions with combined cover consortium
Specialist insurer Beazley has launched a new consortium providing combined civil liability, crime/fraud and cyber cover for financial institutions.
People Moves: 14 – 18 October 2024
Follow the latest insurance personnel moves.
Markerstudy confirms 750 job cuts after Atlanta buy
Markerstudy has confirmed that around 750 jobs will be cut following the £1.2bn acquisition of Ardonagh’s personal lines business.
Pen revamps cyber proposition for large corporate clients
Pen Underwriting has relaunched its cyber proposition for large corporate clients, doubling excess of loss limit (XOL) and introduce a broader risk appetite.
Mission notches up 25th MGA partner with Carrow launch
A new warranty, accident and health MGA Carrow is set to launch with the backing of Mission Underwriters.
Lebecq to join Miller after SRG exit
Miller has appointed Clare Lebecq as chief operating officer following her departure from Specialist Risk Group in September.
Industry reacts to government motor task force
The wider insurance market has given a mixed reaction to the UK government’s motor task force, with its industry-led approach questioned, but experts note it is a step forward.