Scotland
FSCS declares Scottish broker in default
The Financial Services Compensation Scheme has declared Scottish broker Arthur Temlett, trading as Abacus Insurance Consultants, as being ‘in default’ in its latest update on the ongoing situation.
Partners& strikes pair of deals
Partners& has bought Glasgow-based Blackford Group and Directors & Professionals, a commercial broker in Tunbridge Wells, in its first deals of 2025.
UK economic losses from natural catastrophes hit $800m in 2024 – Swiss Re
UK economic losses caused by natural catastrophes reaching $800m (£596.6m) in 2024 has shone a spotlight on the urgent need to strengthen resilience against future events, according to Swiss Re.
FCA ends Scottish broker’s trading permissions after dual pricing attestation and response failures
The Financial Conduct Authority has cancelled L R Kennedy Insurance Services’ permission to carry out regulated activities with immediate effect.
People Moves: 22 – 25 April 2025
Follow the latest personnel moves in insurance.
Ecclesiastical grows presence in Scotland opening office in Glasgow
Ecclesiastical Insurance has opened an office in Glasgow after it saw a surge in new business in Scotland.
Partners& rebrands Scottish broker MacDonald Group
Scottish broker MacDonald Group is rebranding to Partners& following its acquisition in 2022.
Howden buys Scottish broker
Howden Scotland has bought Edinburgh-based SKB Independent Insurance Brokers.
FSCS opens to claims after Scottish broker stopped from trading by FCA
The Financial Services Compensation Scheme has opened for claims from customers of Arthur Temlett, who traded as Abacus Insurance Consultants and was forced to stop carrying out any regulated activities by the Financial Conduct Authority at the start of…
Northern Ireland tops table for account exec pay rises
Insurance account executives in Northern Ireland had the highest percentage pay rises in the UK last year, with London-based employees still having the top wage but getting the smallest rate increase, according to a survey by Reed.
FCA issues restrictions on Scottish broker because of personal lines premium concerns
The Financial Conduct Authority has taken action to stop Arthur Temlett, trading as Abacus Insurance Consultants, from carrying out any regulated activities, including acting as an insurance broker.
Flood Re targets Scotland in resilience drive
Flood Re is targeting Scotland, promoting property-level flood resilience and aiming to help communities better prepare for future flooding events.
Gallagher promotes three to RMD as Patterson takes North West chair role
Gallagher has promoted James Fletcher, Mark Kerry and James Murray to regional managing director roles, all reporting to Peter Matthews, managing director of the North for Gallagher’s UK and Ireland Retail division.
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.
People Moves: 18 – 22 November 2024
Follow the latest insurance personnel moves.
Seventeen snaps up four brokers in October
Seventeen Group purchased four brokers across the UK in October after a string of deals throughout the year.
The general insurance sector in Glasgow – a dynamic market thriving in competitive times
As with many markets Scotland’s general insurance hub Glasgow has seen consolidation but Martin Friel notes both brokers and insurers are buoyant about the opportunities, with local empowerment key to success.
Organic growth boosts TL Dallas to £13m turnover in 2023
Bradford-headquartered TL Dallas Group topped £1m in post-tax profit in 2023 as turnover rose 14.2%.
PwC tips Northern Irish motor premium to drop 15% after Government review
Motor insurance premiums for Scottish and Northern Irish drivers have been tipped to decrease by an average of £60 (10%) in Scotland and £90 (15%) in Northern Ireland following a Government review.
Arch expands presence in Glasgow with new office
Arch Insurance’s UK regional division has announced it has opened a new office in Glasgow as part of its growth strategy for the region.