Personal
FOS forecasts levy freeze at £70m
The Financial Ombudsman Service is planning to maintain its levy for 2025/26 at the £70m total set this financial year.
Close Brothers to launch digital commission disclosure consent solution
Close Brothers Premium Finance has announced plans to launch a new digital solution to help brokers fulfill their commission disclosure consent obligations.
Flood Re promises more educational material for brokers in 2025
Flood Re is developing a series of new learning and educational materials for brokers and the wider insurance market for the new year, after recent changes to the scheme.
Coles leads MBO of Ardonagh retail MGA Uris Group
Uris Group, the Ardonagh-owned specialist personal lines MGA and services provider, has been sold to a new vehicle backed by its leader Derek Coles, Insurance Age can reveal.
Sabre to launch new online direct brand in Q1 2025
Sabre has revealed plans to enter the direct motorcycle market with an online brand in Q1 2025.
Pen signs up to Flood Re’s Build Back Better
Pen Undewriting has signed up to Flood Re’s Build Back Better with all eligible new and renewing home policies automatically including the benefits of the scheme from 1 January 2025.
Brown & Brown adds to PCG buying employee benefits specialists Drewberry
Brown & Brown Europe has bought Drewberry adding another employee benefits specialist to Premier Choice Group.
Analysis: Aviva’s bid for DLG – what are the pros and cons for UK insurance brokers
The industry was abuzz last week with the ramifications of Aviva’s £3.3bn bid for Direct Line Group. Jonathan Swift reflects on the weekend’s developments, and what the deal might mean for UK brokers should the possibility of a green light gain momentum…
Ageas promotes Beckett to MD of broker and partnerships
Ageas UK has appointed chief distribution officer Adam Beckett to the newly created role of managing director of broker and partnerships.
Industry reacts to discount rate change
Insurance industry specialists have welcomed the government moving the personal injury discount rate to 0.5% with PwC calculating it will lower motor premiums by £50 on average.
Personal injury discount rate shift will cut motor premiums, says PWC
The government will move the discount rate applicable to personal injury lump sum compensation payments to 0.5% as of 11 January 2025.
How do brokers strengthen their proposition as an attractive employer?
Five takeaways from the RSA-sponsored personal lines roundtable at Broker Expo
Policy Expert strikes £1bn co-insurance deal with Bridgehaven and Accredited
Personal lines specialist Policy Expert has added a second capacity provider in Bridgehaven as part of a new co-insurance arrangement with existing backer Accredited.
Analysts point to 265p per share to sweeten Aviva-DLG deal
Experts from Peel Hunt have labelled Aviva’s 250p per share approach for Direct Line as a “reasonable offer” adding there is “scope to sweeten the bid to 260-265p”.
DLG rejects £3.3bn Aviva takeover offer
Aviva has revealed it has become the second insurer to publicly bid for Direct Line Group this year, with an offer worth £3.3bn.
Car and motorcycle insurance complaints stick in FOS top five
The number of car and motorcycle insurance complaints to the Financial Ombudsman Service in the second quarter of 2024/25 dropped compared to the same period a year ago however the sector has remained in the top five.
News analysis: Acquisitional independent brokers are on the rise, but are they any different to consolidators?
Whilst larger international and private equity backed-brokers might get the most headlines when it comes to mergers and acquisitions, they are not the only firms looking to buy. Martin Friel looks at the emergence of a host of smaller independent…
Close Brothers bringing in written consent rule on commercial broker premium finance commission
Close Brothers will require consent from commercial customers for broker commissions for premium finance as of Monday 25 November.
Covéa promises brokers faster access with CDL home insurance tie-up
Covéa Insurance has promised brokers faster access to products and effective pricing as it launched its home insurance business on CDL’s Insurer Hosted Pricing hub, Insurance Age can reveal.
Second quarter of motor premium falls in a row – ABI
The average motor insurance premium fell by 2% in July to September to £612, according to the latest data from the Association of British Insurers, the second consecutive quarterly drop.
EY revises insurer income growth forecasts but trend remains down
EY has released improved premium income forecasts for UK non-life insurers but maintained its view of slowing growth in 2024, 2025 and 2026.
Aviva lifts the lid on young person social media ghost broking epidemic
One in three young drivers have purchased car insurance from ghost brokers selling invalid or fake policies on social media platforms, according to an Aviva survey.
DLG to cut 550 jobs as it targets £100m of savings
Direct Line Group has started consultations with staff as part of a proposed reduction of about 550 roles, it announced today.
Video Q&A: Hiscox head of private art and private clients Robert Read
Following the High Net Worth Forum, which was held on the 7th November in London, Insurance Age content director Jonathan Swift caught up with sponsor Hiscox’s head of art and private clients Robert Read, to discuss the state of the market.