News
FCA warns of Admiral clone
The Financial Conduct Authority has warned of a clone claiming to be Admiral Insurance.
Seventeen makes double buy
Seventeen Group has bought a book of business from Hendricks Insurance in Scotland and snapped up Keith Miller Insurance Services in England in its first purchases of 2024.
Academy strikes deal to buy Premierline from Allianz
Academy Insurance Services has signed up to buy all of Allianz Business Services, trading as Premierline, to become its North-West hub in its first deal since last year’s investment by private equity house Blixt Group.
Commercial Express launches courier package product
Commercial Express has launched a courier package product, designed for brokers whose clients are couriers or delivery drivers using vans or cars in the UK.
Zurich uncovered £78.5m in bogus claims in 2023
Zurich UK faced down £78.5m in fraudulent claims last year, equating to £215,117 a day.
FCA reveals slight decline in whistleblowing
The Financial Conduct Authority received 249 whistleblowing reports containing 649 allegations in the fourth quarter of last year.
Select Committtee slams lack of progress on sexual harassment and bullying
A House of Commons Treasury Select Committee has released its ‘Sexism in the City’ report revealing a lack of progress on sexual harassment and bullying, including serious sexual misconduct in financial services.
Aspen confirms Sarah Stanford as UK CEO
Aspen Insurance has confirmed Sarah Stanford as UK CEO, a post she has held on an interim basis since 17 January.
Aon buys in administration Humn.ai’s assets and IP
Aon has bought Humn.ai’s technology assets and intellectual property to strengthen its own commercial fleet proposition, months after the insurtech appointed administrators.
Ardonagh completes more than $5bn refinance
Ardonagh has completed a refinancing process switching over $5bn of debt (£3.9bn) to better terms.
People Moves: 4 – 8 March 2024
Keep up to date on the latest personnel changes in insurance.
Lloyd’s teases FY23 results by revealing £5.9bn underwriting profit
Lloyd’s has provided a trading update on its 2023 full-year financial performance.
Admiral chair: Defending UK motor advantage remains ‘number one priority’
Admiral is not going to give up its crown as the UK’s leading personal lines insurer to Markerstudy without a fight, its chair has intimated.
Beazley’s profit before tax soars 115%
Beazley has reported its profit before tax leapt to $1.25bn (£984m) in 2023, a 115% increase on the year before.
Aviva open to bolt-on deals but unlikely to buy further in Lloyd’s, says Blanc
Aviva will maintain a “selective and disciplined approach” to mergers and acquisitions, according to group CEO Amanda Blanc as she indicated the insurer is not eyeing synergies with a Direct Line bid.
TBIG makes fourth major investment of the year
The Broker Investment Group has increased its stake in Callaway & Sons Insurance Consultants, located in Chelmsford, Essex to 100%.
Aviva posts double digit UK GWP and operating profit rises for 2023
Aviva grew premiums in the UK by 16% last year to £6.19bn with rises across both commercial and personal lines.
Acrisure’s Russell Scanlan buys construction specialist BLG
Nottingham-headquartered Russell Scanlan has bought Leicester-based Building & Land Guarantees.
Allianz Commercial boosts regional distribution to support brokers
Allianz Commercial has appointed four regional distribution managers covering the South, North, London, Midlands and the South West regions.
Home insurance prices jump 40% in a year
The average quoted price of home insurance increased by 40.6% in the 12 months to January – the highest annual increase since Consumer Intelligence began tracking prices in 2014.
Howden buys performing arts broker Hencilla Canworth
Howden has bought Croydon-based Hencilla Canworth GI to boost its sport and entertainment division.
Miller posts record £240m revenue for 2023
Miller hit a record level of £240m in revenue last year, driven by 19% organic growth, the broker has confirmed.
Simply Business expands partnership with Zurich
Zurich has grown its partnership with digital broker Simply Business to provide commercial combined quotes for businesses with a turnover of £750,000 or more.
Lloyd’s hits 2020 women leadership target as it unveils latest DE&I data
Lloyd’s has admitted it has a “way to go” on its “culture journey” after hitting its short-term target of 35% of leadership positions (+3 percentage points) to be filled by women, set in 2020.