Five top 100 UK broking groups have pledged to end sharing building insurance commissions with landlords and to cap fees. However, many others have not signed up including Gallagher UK who has refused to back the pledge in its existing version over concerns about "possible unintended consequences".
All the latest key personnel moves across the insurance market.
The top value in cyber insurance is the panel on offer to clients, ahead of even the payout they might receive, according to PIB group information security officer Jason Ozin.
PIB Group has promoted Zach Gray from deputy to CEO of its speciality division succeeding Steve Redgwell who has taken on the role of chair.
PIB Group has bought Manchester based commercial broker RBIG including RBIG Corporate Risk Services and RBIG Financial Services.
PIB Group has appointed Charles Burgess as CEO for underwriting and schemes.
PIB Group upped its merger and acquisition spending to £506.2m in 2022, as it snapped up 23 businesses with considerable expansion into Europe.
Esure and PIB Group investor Bain Capital has announced the final close of its inaugural private equity fund, Bain Capital Insurance Fund, LP at $1.15bn (£890m), above its initial target of $750m.
Fragmentation, low market maturity, employee benefit opportunities and lower pricing make Europe ripe for broking consolidation, according to PIB Group CEO Brendan McManus.
As UK broker M&A targets become scarcer, smaller players are bound to follow the major consolidators into Europe argues Greg Cant, UK Financial Services Partner at Clearwater International.
The boss of broking network Cobra has said that it has identified a pipeline of 700 potential ‘unicorns’ as it seeks new members to meet its target of £1bn of premium by the end of 2025.
Talent recruitment continues to be a major issue for brokers at all levels of seniority. With this in mind, Rachel Gordon looks at what insurers can do to help intermediaries develop their future leaders.
As we put Covid-19 behind us, Sophie Locke-Cooper discovers brokers in the North West are positive about the prospects of the local market despite worldwide economic challenges such as inflation and UK-wide issues such as recruitment and talent retention.
PIB has completed its second acquisition in less than a week, buying property broker St Giles.
PIB Group has acquired specialist professional indemnity insurance broker Pure Risks.
Imas has calculated that the value of UK general insurance distribution M&A dropped to £4bn in 2022 from £5.6bn in 2021, Insurance Age can reveal.
The Financial Conduct Authority has approved PIB buying Jigsaw Insurance Services Plc, as the consolidator eyes a significant push into the personal lines market.
Barbon aims to double its current £21m Ebitda over the next five years, new managing director Wayne Tonge has revealed to Insurance Age.
PIB Group has moved into the Italian market with its latest buy, expanding its portfolio, which already included offerings in Ireland, Germany, Poland, Spain and the Netherlands.
Wayne Tonge has taken on the managing director role at PIB-owned Barbon Insurance Group, Insurance Age can reveal.
Lloyd’s broker and wholesaler Citynet has secured capacity to help its broker partners on motor business.
UK broking deals valued at £5m and above are set to reduce in 2022 as the number of available brokers for purchase shrinks.
Keep up to date with the latest personnel changes in insurance.