News
QBE makes four appointments in regional restructure
QBE has appointed four heads of trading as part of a regional push in the UK.
Zurich launches new broker proposition
Zurich has unveiled a new broker club called Zurich Club Blue.
Sky aims to shake up home insurance with Zurich-backed product
Sky is launching a new smart home protection service, offering comprehensive home insurance and smart home technology worth £250.
RSA launches new comprehensive product to cover superyachts
RSA has launched a new practice to cover superyachts, and appoints Emily Grew will join as senior yacht underwriter.
Ex-FCA leader Salter joins Sicsic Advisory
Former Financial Conduct Authority director Philip Salter has joined strategic risk and regulatory consultancy Sicsic Advisory as a senior adviser.
Allianz to help brokers with underinsurance concerns
Brokers are requesting additional insurer support on valuations of businesses including SMEs according to director of digital trading at Allianz UK, Helen Bryant.
Gallagher reveals retail and specialty organic growth
Gallagher’s UK & Ireland retail division achieved 7% organic growth in the first quarter of 2023, the global broking giant has revealed.
Zurich research pinpoints flexible working as antidote to older worker exodus
A lack of flexible job opportunities is the main obstacle preventing over-50s from staying in the workforce longer, according to Zurich.
AIG’s HNW MGA tie-up with Stone Point set to start trading in Q3
AIG has finalised its agreement with private equity firm Stone Point Capital to create managing general agent Private Client Select Insurance Services with an expected start date for trading of the third quarter 2023, the insurer has confirmed.
People Moves: 24 – 27 April 2023
Keep up-to-date with personnel moves within the insurance industry.
UK commercial insurance price rises ease again in Q1 – Marsh
Commercial insurance pricing in the UK rose by 3% in the first quarter of the year, down slightly on the 4% uplift in the final quarter of 2022, according to research by Marsh.
Peter Blanc outlines priorities in new Howden M&A role
Peter Blanc outlined his priorities in his new role as head of mergers and acquisitions at Howden.
Yutree restructures board with new CEO and MD
Kevin Hancock stepped up to CEO at Yutree Insurance with Laura Hancock promoted to succeed him as managing director.
‘Failing consumers’ – Gove gives Biba one month for commissions action plan
Government minister Michael Gove has given the British Insurance Brokers’ Association one month to drum up an action plan to address ‘completely unacceptable’ practices in the buildings’ insurance market.
‘Outraged’ Gove demands immediate penalties on brokers failing on property commissions
An “outraged” Michael Gove is demanding the regulator takes “immediate enforcement action” on brokers who cannot demonstrate their buildings’ insurance commissions are fair value.
Ardonagh buys Stanhope Cooper and Renovation Underwriting
Ardonagh Advisory has signed up to buy a majority shareholding in high-net-worth broker Stanhope Cooper and MGA Renovation Underwriting.
LexisNexis Risk Solutions becomes Biba associate
LexisNexis Risk Solutions has become the 43rd associate of the British Insurance Brokers’ Association.
Flood Re launches training resource to support Build Back Better
Flood Re has produced a targeted training resource for the insurance market, to drive a deeper understanding of the Build Back Better scheme within insurance companies, managing general agents, brokers and throughout the claims supply chain.
Big brokers making ‘silly money’ blamed for FCA property commission crackdown
Large brokers taking ‘silly commissions’ are being blamed for the Financial Conduct Authority’s crackdown in buildings’ insurance.
Nearly half of SMEs expect 2023 revenue rise – Premium Credit
New research by Premium Credit revealed that nearly five times more SMEs expect their businesses to grow than shrink in the year ahead.
Biba defends broker earnings after FCA overhaul in property commissions
The British Insurance Brokers’ Association backed changes the Financial Conduct Authority wants to improve transparency for leaseholders, while also defending broker earnings.
Ageas to bolster solvency after selling business
Ageas is to sell its French life insurance, savings and pension business to La Mutuelle Epargne Retraite Prévoyance Carac.
Aviva quits CBI after second rape allegation
Aviva has quit the Confederation of British Industry after a second rape allegation from a woman working at the business lobby group.
Sicsic warns brokers leaseholder commission disclosure sets a ‘precedent’
Michael Sicsic, managing partner of Sicsic Advisory, urged brokers to review all their remuneration arrangements following the Financial Conduct Authority’s report today revealing incompetence and unjustifiable remuneration in the buildings’ insurance…