United Kingdom (UK)
Insurers flag climate change concern following UK heatwave
Insurers have pledged to focus efforts on reducing climate change and called on the industry to be better prepared for weather events.
Aviva strikes Azur HNW deal after exclusive talks
Aviva has penned a deal to buy Azur Underwriting’s high net worth personal lines business in the UK and Ireland.
Experts warn of ‘huge threat’ and no ‘get out of jail’ card in FCA letters
Compliance specialists have urged brokers to take heed of the Financial Conduct Authority’s latest pair of letters on fair value in general insurance.
Jensten buys MGA Origin
The Jensten Group has bought SME specialist managing general agent Origin UW for an undisclosed sum.
Clear buys GSI Commercial Services
Clear Group has bought GSI Commercial Services in its first deal to complete since Goldman Sachs invested in the broker last month.
FCA letter sets out scale of watchdog’s fair value assessment frustrations
The Financial Conduct Authority has revealed one-in-three insurance manufacturers are leaving fair value assessments to the last minute causing a risk of harm to consumers.
Property pricing up 6% in Q2
Insurance pricing in the UK increased by 11% in the second quarter of the year but this was down on the 20% rise in Q1 of 2022, according to the latest research by Marsh.
Brokers given three months ‘forbearance’ as FCA hits out at insurer fair value delay failures
The Financial Conduct Authority has criticised insurers’ timings on product governance and fair value assessments ahead of the 30 September deadline for them to be in place as it gave brokers a three-month extension under specific circumstances.
Jaime Swindle becomes CEO of the UK commercial MGA at Geo Underwriting
Jaime Swindle has started a new position as CEO of the UK commercial MGA at Geo Underwriting having moved across to the unit's leadership team in December.
News analysis: Should brokers have formal qualifications?
Qualified for the job? Fiona Nicolson asks if there should be mandatory qualifications for insurance brokers.
Gallagher reports UK organic growth of 8%
Gallagher achieved 8% organic growth in the UK in the second quarter of 2022, Simon Matson EMEA CEO at the firm has confirmed.
Refinancing gives Seventeen the ammunition for deals, says Paul Anscombe
Seventeen Group has deals in the pipeline and the firepower to continue to buy after completing its refinancing with Ares Management, according to CEO Paul Anscombe.
Blog: Why tripartite partnerships are key in the professional indemnity market
As the professional indemnity market continues to be beset by ever more challenges Nic Brown, of Markel UK, explains why the successful placement or renewal of cover now, more than ever, relies on strong partnerships between insurer, broker and insured.
People Moves: 25-29 July 2022
Stay informed of the top personnel changes in insurance.
Clear CEO sets out organic growth and acquisitions route to £675m GWP in 2025
Clear Group is targeting doubling its gross written premium by the end of 2025 through maintaining its acquisition programme and double-digit organic growth, according to CEO Mike Edgeley.
Clear posts 8% organic growth as 2021 deal spend revealed
Clear Group spent £17.25m on acquisitions during its 2021 financial year as the broker grew revenue to £45m from £28m in 2020.
Spring launches SME cyber cover
Spring Insure has launched a commercial cyber offering tailored for small and medium sized enterprises.
Brokers urged to do more on carbon neutrality
Vista Insurance Brokers CEO Gavin Ruben has encouraged the industry to up its game as the firm continues along the path to carbon neutrality.
Consumer Duty timeline ambitious but achievable, says FCA
The Financial Conduct Authority has explained its decision to switch from a proposed implementation period ending April 2023 to one ending July 2023 as it revealed the timetable for its new Consumer Duty regulations.
FCA confirms 12-month implementation for Consumer Duty
The Financial Conduct Authority has confirmed a 12-month implementation period for its new Consumer Duty which will come into force on 31 July 2023.
IFB flags 17% increase in number of people being added to Insurance Fraud Register
The Insurance Fraud Bureau has warned that more than 5,000 people were added to the Insurance Fraud Register in the past 12 months.
Verlingue reports £121,807 costs after cyber attack
Verlingue UK’s Companies House filing for last year has shown that an attempted cyber attack in November 2021 cost the business £121,807.
UK General up for sale again
UK General’s latest filing at Companies House has revealed the personal lines specialist, which lost £9.13m in nine months up to 30 March 2021, is up for sale.
Romero sells Booking Protect to Cover Genius
Romero Group has sold its global refund protection specialist Booking Protect to Cover Genius, the insurtech for embedded insurance.