News
NBS Underwriting rolls out commercial combined
NBS Underwriting has added commercial combined insurance to its product portfolio building on the acquisition of Capital Markets Underwriting.
FSCS details £23m MCE Insurance Company recovery from £90m hit
The Financial Services Compensation Scheme has secured £23m from the estate of Gibraltar-based Green Realisations 123, formerly known as MCE Insurance Company, after paying out approximately £90m in compensation to the firm’s customers.
Novidea adds $30m from HarbourVest Partners in funding round
Insurance management system provider Novidea has confirmed raising an extra $30m (£23.6m) from HarbourVest Partners, taking its Series C funding round to $80m.
Ardonagh buys SIB Insurance, boosting presence in North West
Ardonagh Advisory has bought commercial broker Southport Insurance Brokers, building its presence in the North West of England.
Aviva completes on £453m AIG Life deal
Aviva has confirmed that, following receipt of all necessary approvals, it has completed the acquisition of AIG Life UK.
Acies launches MGA backed by Axa capacity
Acies MGU has launched construction-focused managing general agent Phoenix Specialty with capacity backing from Axa UK.
Ex-Ecclesiastical leader Adrian Saunders joins Iprism as NED
Managing general agent Iprism has named former commercial director of Ecclesiastical Insurance, Adrian Saunders, as a non-executive director.
Jensten completes on Scrutton Bland deal
Jensten has completed on the acquisition of Scrutton Bland Insurance Brokers following final regulatory approval.
Asset manager ICG invests in Staysure
Global asset manager ICG has taken a minority stake in travel insurance specialist Staysure.
UK businesses unprepared for incoming Martyn’s Law, warns Gallagher
Research from Gallagher has found just 23% of firms are fully confident they will be able to fulfil the requirements of Martyn’s Law when it comes into force.
Kingfisher drives further into classic car market with Lynbrook buy
Kingfisher Insurance has bought Lynbrook Insurance to expand its presence in the classic vehicle market.
TV and films in focus as Spotlite Claims launches EL and PL support
Spotlite Claims, the specialist loss adjusting arm of Woodgate and Clark, has launched employers’ liability and public liability claims support due to increasing demand from brokers and insurers working with the global film and TV industries.
People Moves: 2 – 5 April 2024
Follow the latest insurance personnel moves.
Open GI swoops for Hug Hub’s Digital Platform
Open GI has bought Hug Hub’s Digital Platform which offers portal capability for insurance brokers and managing general agents.
FOS confirms levy cut but forecasts more insurance complaints
The Financial Ombudsman Service has set its levy for 2024/25 at £70m despite anticipating an increase in operating expenditure and caseload.
CFC partners with Biba for conference Cyber Hub
The British Insurance Brokers’ Association and CFC have collaborated to design and deliver a Cyber Hub, a new feature at the trade body’s annual conference.
AssuredPartners expands into Wales with LT Insurance buy
AssuredPartners has added to its UK footprint buying South Wales-based LT Insurance Services.
Ardonagh completes Westfield Insurance purchase
Ardonagh Advisory has completed its deal for Westfield Insurance having announced plans to buy the broker in December 2023.
McLarens joins Biba as associate
The British Insurance Brokers’ Association has added McLarens loss adjusters as an associate.
FCA adds four more S166s to sector
The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.
Admiral completes RSA direct home and pet insurance deal
Admiral Group has completed the purchase of RSA direct home and pet insurance renewal rights for £82.5m.
Beazley Digital’s Fantozzi: SMEs need to be alert to cloud-based cyber exposure
Small businesses face a growing threat of cyber-attacks as they move more services to the cloud, according to Ian Fantozzi, CEO of Beazley Digital.
Ex-Marsh and Aon COO joins Thomas Carroll
The former chief operating officer of Aon’s UK retail business, David Whittaker, has joined Thomas Carroll Group in the same role.
Bissell & Partners adds Lloyd’s broker status to offering
Bissell & Partners has been authorised as an independent boutique Lloyd’s insurance broker.