News
Markel launches FintechRisk+ policy
Markel has launched FintechRisk+ in its second insurance policy development of the week.
Biba and MGAA reveal formal affiliate status
The British Insurance Brokers’ Association and the Managing General Agents’ Association have become affiliates in a move they flagged formalised their working relationship.
Cyber stalking, abduction and bribery among risks covered by new Hiscox product
Hiscox has launched Personnel Security Plus
Addept and All Broker Services partner on ancillary insurance distribution
Specialist ancillary insurance providers Addept Insurance Services and All Broker Services have teamed up in a product distribution partnership.
Markel adds legal expenses to PI combined
Markel has added legal expenses cover as standard to its professional indemnity combined product in a move it stated was in response to broker feedback.
Stand-alone specialist energy MGA Navata launched
Thomas Miller has announced the launch of its standalone MGA business, Navata.
Marsh and LMG leaders call for proportionate regulation at parliamentary session
Chris Lay, CEO of Marsh McLennan UK and of Marsh in the UK, and Caroline Wagstaff CEO of the London Market Group, have called for proportionate and agile regulation of insurance in an evidence session at Parliament.
Aventum 100% staff owned as part of employee ownership scheme
Aventum is now 100% owned by its workforce under a new global employee ownership scheme with all staff having been rewarded with the equivalent of twice their annual salary in share value.
FCA warns principals against ‘tick-box’ approach to ARs
A review by the Financial Conduct Authority of its rules on appointed representatives has found some firms taking a tick-box approach to compliance, relying on basic information like website checks, or using self-declarations from their ARs to…
Axa UK & Ireland looks to Aviva for new CRO
Axa UK & Ireland has appointed Rahul Gumber as chief risk officer, subject to regulatory approval.
People Moves: 2 – 6 September 2024
Follow the latest insurance personnel moves.
Allianz reveals rise in cloned businesses motor fleet fraud attempts
Allianz UK has reported a “marked increase” in fake or cloned businesses claims coming through in the first half of the year, as it also highlighted strong collaboration with brokers has further heightened fraud awareness and detection.
Commercial Express launches tattoo and body piercing product
Commercial Express has launched a tattoo and body piercing product, giving brokers access to a customisable package product.
Lloyd’s notches up best interim COR since 2007 as profits grow
Lloyd’s has reported its combined operating ratio has improved to 83.7% in its half year results, its best interim COR since 2007.
HDI Global leader Stephanie Ogden reveals UK & Ireland exec team
Newly appointed CEO for HDI Global’s UK and Ireland business, Stephanie Ogden, has unveiled her new executive team.
TBIG increases shareholding in Deva to 75%
The Broker Investment Group has increased its shareholding in the Deva Group to 75% from 49%.
TMHCC combines event cancellation and cyber cover
Tokio Marine HCC has launched a malicious cyber event extension to its cancellation product available through its Lloyd’s syndicate and HCC International Insurance.
New FCA S166 investigations into brokers drops to zero
The Financial Conduct Authority did not open any new S166 investigations into brokers in the first three months of the year, as the number issued across financial services hit a high of 27.
Clear buys Accelerate Underwriting
The Clear Group has made its fourth managing general agent acquisition, snapping up Accelerate Underwriting.
SRG adds to MGA offering with Capulus
Specialist Risk Group has purchased Capulus, a specialist motor fleet managing general agent, based in Wales, and will build out SRG's MGA MX which was launched in December 2021.
Ripe takes Alan Thomas from Simply Business as CEO
Digital MGA Ripe has swooped for Alan Thomas, the former UK CEO at Simply Business, as its new boss.
Alps teams up with Fortega on GAP sales
Fortegra Europe Insurance has partnered with Alps for the distribution of Guaranteed Asset Protection insurance.
Dual UK buys MGA International Passenger Protection
Dual UK has signed up to buy managing general agent International Passenger Protection, which provides cover against insolvency of travel operators or other related suppliers.
MGA Arkel secures £25m of new Lloyd’s capacity
Arkel has secured an additional £25m delegated authority binder with Axis for landlords’ let property.