News
Lemonade gets UK carrier licence from PRA
The Prudential Regulation Authority has granted insurtech Lemonade a UK carrier licence.
People Moves: 19 – 23 June 2023
Keep up to date with the latest insurance personnel moves.
JMG strengthens in southern England with further Southampton buy
JMG Group has bought commercial insurance broker GR Marshall, its second deal in Southampton this year.
Partners& grows in Scotland with Hart Insurance Brokers acquisition
Partners& has extended its geographical presence through the central belt of Scotland, adding Hart Insurance Brokers.
CII and PFS row erupts again with two PFS director resignations
Two independent directors of the Personal Finance Society have resigned and committed to proposing a motion at the PFS annual general meeting in September to block the Chartered Insurance Institute or another entity from gaining control of its £19m funds.
A ‘moral commitment’ - Aon and Lloyd's partner to help Ukraine
Aon and Lloyd’s have partnered with an insurer to support Ukraine firms and ‘restore well-being’ to the war-ravaged nation.
Commercial Express teams up with Brit and Ascot for shop scheme
Managing general agent Commercial Express has unveiled a new shop scheme.
MGA backer Accelerant Insurance Europe’s GWP soars to €662m
Accelerant Insurance Europe’s gross written premium tripled in 2022, according to regulatory filings.
Biba continues associate expansion adding APR
The British Insurance Brokers’ Association has added general insurance actuarial resource provider APR as an associate taking its total up to 46.
Saga reveals fall in broking policy sales
Over-50s specialist Saga has reported a 7% drop in home and motor insurance policy sales in its broking division despite customer retention ticking up from 83% to 85%.
Insurance market pays respects to ‘true character’ Terry Wellard
The insurance industry has paid its respects following the passing of former Edgar Hamilton Group chairman and well-known insurance personality, Lloyd’s broker and philanthropist Terry Wellard, aged 82.
Intelligent AI platform targets closing commercial property underinsurance gap
InsurTech Intelligent AI has launched its Intelligent Rebuild Cost Validation Platform, designed to address the long-standing challenge of underinsurance in the commercial property market.
Spike in number of young entrepreneurs launching insurance businesses
The number of 18 to 25-year-olds starting their own brokers or insurance related companies increased significantly last year as the start-ups market also grew, according to research by Instant Offices.
Academy Insurance updates on sale after deal fell through
Personal lines specialist Academy Insurance Services’ shareholders are going through due diligence in a sale process, according to a filing at Companies House.
HNW underinsurance an increasing concern for brokers
Research by Ecclesiastical has revealed that a growing number of brokers believe there is a problem with underinsurance in the high-net-worth market.
Gallagher NED chair Sue Langley awarded a Damehood
Gallagher UK’s non-executive chair Sue Langley was awarded a Damehood in King Charles’s Birthday Honours list at the weekend for services to both financial services and public service.
Blink partners with broker on parametric travel cover
Blink Parametric and Lloyd’s broker Newpoint Insurance Brokers have partnered to launch a suite of bespoke online travel insurance products using a real-time parametric flight delay solution for eligible travel insurance policyholders.
Biba rolls out partnership to help brokers on Net Zero journey
The British Insurance Brokers’ Association has added Flotilla Group as an associate to help support members with their own sustainability ambitions.
GRP owner Brown & Brown adds ex-Hiscox boss Bronek Masojada as board director
US broking giant Brown & Brown has appointed former Hiscox CEO Bronek Masojada as a non-employee director on its board.
Adrian Furness leaving Covéa; Georges de Macedo named CEO
Georges de Macedo has been named CEO of Covéa Insurance with immediate effect, succeeding Adrian Furness, who is leaving the business, the insurer has confirmed.
FCA issues restrictions on four insurance ARs in 10-firm crackdown
The Financial Conduct Authority has put 10 firms under restrictions for failing to meet its expectations on overseeing appointed representatives including four in the insurance industry.
Liberty Mutual keeps Hughes in near £2bn assets sale to Generali
Liberty Mutual Insurance has held on to Northern Ireland-based broker Hughes Insurance as it struck a deal to sell its personal lines and small commercial operations in Western Europe to Generali for €2.3bn (£1.97bn).
People Moves: 12 – 16 June 2023
Stay in the loop with the latest personnel moves in insurance.
Sicsic Advisory teams up with software experts for fair value product
Regulation consultancy Sicsic Advisory has teamed up with lifecycle management experts Skyjed to launch a new all-in-one product oversight and governance solution.