News
Underinsurance concerns mount as HNW clients cut cover – Ecclesiastical
Follow-up research among brokers by Ecclesiastical has pinpointed growing worries of high-net-worth underinsurance with a quarter of clients having reduced cover during the past year.
EY records worst motor performance since 2011 with 112.8% NCR
The UK motor insurance market experienced its worst performing year since 2011 last year, recording a loss-making net combined ratio of 112.8%, according to EY’s latest UK Motor Insurance Results.
Verlingue maintains profits as turnover ticks up in 2023
Verlingue UK grew turnover by 8% in 2023 to £21.07m as post-tax profits remained stable.
People Moves: 8 – 12 July 2024
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FCA head warns firms about “abdicating responsibility” by outsourcing claims
Lisa Sturley head of department of market interventions, insurance at the Financial Conduct Authority, has warned insurance firms about outsourcing claims to third parties.
Aureum Insurance Brokers launches in Milton Keynes
Aureum Insurance Brokers has launched as a trading name of Momentum, targeting property, construction, motor trade, manufacturing, IT & technology and professional services business.
Aviva completes £249m Probitas buy
Aviva has completed the £249m purchase of Probitas after getting all the necessary approvals.
Insurance broker exits Love Island villa
Trey Norman, commercial insurance broker at One Call, has left the Love Island villa exiting after less than a fortnight on the show.
Axa Commercial promotes Dene Smith to regional director for the North
Dene Smith has been appointed regional director for the North at Axa Commercial, replacing Rob Corner who left in March.
SRG bolsters equestrian expertise with Carriagehouse buy
Specialist Risk Group has bought the ongoing business of Carriagehouse.
Commercial Express launches new leisure and park home cover
Commercial Express has rolled out a revamped leisure and park home offering, promising brokers and leisure homeowners a wider range of cover options and greater flexibility.
Hiscox shares soar 150 pence following takeover links
Hiscox shares closed the day [Monday 8th July] up 13.43% (150 pence) at 1,267 pence, giving it a market cap of around £4.3bn after the insurer was linked with a takeover.
Ardonagh Advisory notches up fifth buy of 2024
Ardonagh Advisory has acquired Rollinson Smith Insurance Brokers, a community broker servicing the Shropshire, Staffordshire, West Midlands and North Wales regions with a reach in London and other areas of the country.
Seventeen buys Gen2 Broking
Seventeen Group has acquired Midlands-based Gen2 Broking, expanding its presence in the region.
CII: Brokers outscoring insurers and aggregators over customer loyalty
New data published by the Chartered Insurance Institute today has revealed that professional brokers are doing more to build consumer loyalty and confidence than price comparison sites, banks and building societies, or insurers themselves.
Aurora launches commercial combined product
Managing general agent Aurora has launched what it describes as its “flagship” commercial combined product for SMEs.
Biba grows member funds to almost £5.8m
The British Insurance Brokers’ Association has revealed a 13% increase in members funds to £5.78m at the end of 2023.
Aviva research points to “daunting” recruitment landscape for brokers
More brokers are recruiting, vacancies are taking longer to fill, and firms are paying more than expected for new hires.
Ecclesiastical launches product for office-based professions
Ecclesiastical Insurance is launching a new product aimed at office-based businesses providing professional services in response to broker feedback.
Sompo opens third UK office
Sompo has opened an office in Manchester.
AbbeyAutoline makes second book buy in a week
AbbeyAutoline has purchased Down Insurances’ customer book of business, based in Downpatrick, further strengthening its presence in Northern Ireland.
Biba calls on Labour government to act on broker commissions and fees
The British Insurance Brokers’ Association has called on the new Labour government to introduce secondary legislation in relation to the Leasehold Reform Act to allow for broker commissions and fees to be deemed permitted insurance payments as they are…
Partners& adds SEP bolstering North West footprint
Partners& has revealed its second deal in a week, buying Merseyside-based broker SEP Insurance.
People Moves: 1 – 5 July 2024
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