PB Week: There’s no escaping insurance.
It is always surprising how many different routes broker managers have taken into insurance writes Katherine Brandon, reporter, Professional Broking .
On Monday I was lucky enough to spend a sunny afternoon in Poole with Peter Moody, managing director of commercial and marine specialist broker Coleman Insurance and was surprised to learn that upon leaving school his sole ambitions were in sport, throwing himself into playing rugby. It was only upon realising there was no money in professional sport in 1965 (how times have changed) that he took a job in the claims department at Royal Insurance at Bournemouth where he was interviewed for his job at a cricket match.
In other news
Today the Bank of England lowered interest rates to 0.5%, another all time low and the sixth cut since October. The Bank also announced that it would expand the amount of money in the system by £75bn in an attempt to boast bank lending. This policy of quantitave easing is as of yet untried in the UK, however, Chancellor Alistair Darling has given the Bank permission to extend this sum to £150bn should it be needed. Similar measures were implemented in Japan at the beginning of the decade and are considered to have had limited success but what effect this will have on encouraging banks to lend to businesses we will have to wait and see.
On air
Patrick Drinan, UK distribution and development director for UK and Ireland, ACE, joined PB editor Andrew Tjaardstra in our television studio to discuss the challenges insurers will face this year, his advice to brokers, signs of rate hardening and how ACE is positioned to meet the current difficulties. So when you have a spare ten minutes, I encourage you to watch this video.
Comment
If you would like to comment on this blog please post below to spark a debate among fellow broker managers or alternatively e-mail pbeditorial@incisivemedia.comOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Broker
End of Year Review 2025: Axa Retail’s Matt Field
Matt Field, intermediary director at Axa Retail, hails the insurer’s domestic violence proposition; keeps a keen eye on its NPS; and predicts new entrants to shake up the retail personal lines market, with a particular focus on data and technology.
MBP invests in cyber broker taking deal count to four in recent months
Peter Cullum-backed Minority Broker Partnerships has invested in London-based specialist cyber and technology insurance broker and digital platform, Cyber Cover.
British Model Flying Association flies high with Aon’s Sports Insure
Aon’s specialist offering Sports Insure has been appointed by the British Model Flying Association to provide its approximately 800 affiliated clubs and youth groups with risk management and insurance solutions.
North West broker hits £20m GWP
Broadway Insurance Partners has posted £20m gross written premiums in 2025, up 66% from last year, as it revealed plans to grow staff numbers and expand the firm’s infrastructure outside the North West.
Interview: Tigi Singhateh and Adrian Best, Invicta Insurance Services
Since coming on board in 2022, Invicta Insurance Services’ leaders have doubled the size of the business, despite having to deal with a fraudster. With the now ex-employee jailed and the case firmly behind them, they are targeting doubling again.
End of Year Review 2025: UKGI’s Jill Hambley
Jill Hambley, MD of the consultancy division at UKGI reflects on the shake-up at the FCA, the potential non-financial misconduct debacle at Lloyd’s, and shows an aptitude for using Gen Z terms.
Gallagher boss Rea to replace Aon’s Kielty as Biba deputy chair
The British Insurance Brokers’ Association has announced that Michael Rea, Gallagher’s UK CEO, will be the association’s next deputy chair.
End of Year Review 2025: Bspoke’s Craig Morgan
Craig Morgan, managing director of Bspoke Sports & Leisure, echoes the concerns of others over the speed the market has softened; hails the work of Ajay Mistry in championing transparency and diversity; and shares a giant darts nickname.