Personal
Movo buys into insurtech Durell
Movo Investment Group, the investment arm of Movo Group which includes appointed representative network Movo Partnership, has bought a 50% stake in insurtech Durell, Insurance Age can reveal.
Ripe Thinking ready to strike first buy
Ripe Thinking is gearing up to make its first acquisition having grown to more than 280,000 policyholders organically since being founded in 1997.
Broking Success: Targeting growth
Neal Lowe, managing director of Needham Insurance Services, tells Insurance Age about striking deals and serving local communities as the broker targets £20m of gross written premium by 2025.
Drop in insurance pricing complaints at FOS
The Financial Ombudsman Service has highlighted a 33.4% fall in complaints about insurance pricing in 2021/22.
Jensten buys Ravenhall Risk Solutions
The Jensten Group has acquired Leeds-based broker Ravenhall Risk Solutions for an undisclosed sum.
RSA launches new domestic abuse policy for staff
RSA has delivered a new domestic abuse policy to support employees who may be suffering as victims of domestic abuse.
Ripe grows turnover in 2021 with profits stable
Ripe Thinking has reported a 24% rise in turnover to £23.27m for 2021.
Sabre warns of surging claims costs as motor GWP and profit drops
Gross written premium in Sabre’s motor book has dropped around 10.6% compared to the same period in 2021, the insurer has revealed in its half year results.
CPP sells Alpha Underwriting six months after buying it
Just Travel Cover, a leisure travel insurance specialist and insurance product and service provider, has bought the travel insurance and scheme specialist business Alpha Underwriting from CPP Secure.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
Insurtech app Honcho shuts up shop
Motor specialist Honcho has closed for business after three years of trading citing difficulty acquiring customers and the competitive environment as reasons for the closure.
Car premiums up 7.8% since start of 2022
The cost of car insurance has risen 7.8% since the start of the year after new rules came in to tackle the practice of “price walking”, research by Consumer Intelligence has revealed.
Motor market profitable in 2021 but losses predicted for 2022 and 2023
UK motor insurers achieved a profit in 2021 but will slip back into the red this year and next, EY has forecast.
Drop in insurance complaints at FOS
The Financial Ombudsman Service has revealed a 26% fall in insurance complaints for 2021/22.
Primary Group appoints advisors for possible £1bn QMetric sale – report
Primary Group has taken on Perella Weinberg Partners to explore a potential £1bn sale of Policy Expert’s parent company QMetric, Bloomberg has reported.
Gallagher buys Innovu as “launch-pad” into Ireland
Gallagher has expanded into Ireland buying Innovu Insurance for an undisclosed amount.
Ceta launches notional home insurance product
Ceta has developed a notional home proposition, Prestige Notional, which is backed by Aviva.
ERS widens appetite on car offering with digital expansion
Motor provider ERS has developed its digital offering and is set to add its manually-traded Prestige and Enthusiast products to its e-trade proposition as it seeks to make them more accessible to brokers.
Biba supports FCA travel insurance review delay as directory enquiries double
The British Insurance Brokers’ Association has backed the Financial Conduct Authority’s decision to delay a review into travel insurance signposting for medically vulnerable customers by a year.
Start-up digital broker Policy Powerhouse targets over £20m GWP within five years
Policy Powerhouse has launched a holiday let buildings and contents insurance product as CEO John Bibby set out the goals of the new digital broker.
Ageas adds Neil Mercier as head of standard motor
Neil Mercier has been appointed as head of standard motor at Ageas as it seeks to consolidate its position in the personal lines space.
FCA delays travel insurance signposting review
The Financial Conduct Authority has delayed its review into the implementation of travel insurance signposting rules by a year.
Brunel Group opens Newton Abbot office
Brunel Group has opened a branch in Newton Abbot, relocating staff from Bovey Tracey, and plans to double the size of the team in the new location.
Covéa returns to profit in 2021
Covéa Insurance has reported post-tax profit of £7.9m in 2021 reversing the loss of £30.8m the previous year.