United Kingdom (UK)
Sam White’s Freedom Services Group adds David Williams as first NED
Former Axa leader David Williams has joined Freedom Services Group, consisting of managing general agent Pukka, Freedom Brokers and claims management service Action 365, as a non-executive director, Insurance Age can reveal.
FCA names Ashley Alder as chair
HM Treasury has appointed Ashley Alder as the new chair of the Financial Conduct Authority succeeding Charles Randell.
Lycetts continues growth trajectory
Lycetts has grown its turnover to £23.5m for the full year 2021 from £22.4m in 2020 according to documents filed on Companies House.
People Moves: 4-8 July 2022
Stay informed of the top personnel changes in insurance.
Biba adds Covéa as partner
The British Insurance Brokers’ Association has added Covéa Insurance to its roster of partners taking the total to 20.
AM Best upgrades Aviva ratings
AM Best has upgraded the financial strength rating of Aviva Insurance to A+ (Superior) from A (Excellent).
CDL grows revenue to £53.7m in 2021
CDL has reported a rise in profit after tax to £11.2m in 2021, up from £9.8m the year before.
Biba reports return to growth in 2021
The British Insurance Brokers’ Association has reported a £211,410 rise in net assets for 2021.
John Glen resigns as Economic Secretary to the Treasury
The Minister handed in his notice to Prime Minister, Boris Johnson, yesterday (6 July) stating that he “can no longer reconcile my commitment to the role and to the financial services sector with the complete lack of confidence I have in your continuing…
Towergate Underwriting hit with £3.3m suit by pub over non-paying Gable policy
Few Inns has launched court proceedings against Towergate over a Gable policy which failed to pay out following a fire at one of its pubs in 2015.
Lorega finds “natural home” at Ardonagh
Lorega will go to the “next level” under Ardonagh’s ownership, former leader and current CEO of Vizion Insurance Brokers John Sims has predicted.
FCA strikes suspended
Strikes at the Financial Conduct Authority due to take place today and tomorrow (5 and 6 July) have been paused after negotiations between disgruntled staff and the regulator re-opened.
Brown & Brown completes GRP takeover
US-headquartered Brown & Brown has completed the takeover of consolidator Global Risk Partners.
Staysure-owned Rock Insurance extends Axa Partners deal
Rock Insurance has developed its relationship with Axa Partners with a multi-million pound deal which will see the insurer underwrite a range of travel products.
Konsileo secures £4.7m in funding
Broker Konsileo has raised £4.7m in a Series A funding round led by Growth Tech VC Committed Capital.
Blog: FCA data update – a glimpse into the future
Michael Sicsic addresses the key points in the regulator’s latest data missive flagging “there really are going to be very few places for bad operators left to hide”.
Ardonagh buys Lorega
Ardonagh’s managing general agent segment Geo Underwriting has bought loss recovery insurance MGA and assistance specialist Lorega, Insurance Age can reveal.
Acturis boosts revenue and profit in 2021
Acturis grew revenues by 6.7% in 2021 to £111.9m, its 20th consecutive year of revenue growth.
CII group calls for mandatory broker qualifications
Rising stars of the insurance broking profession have called for the regulator to make it mandatory to have qualifications to advise clients on coverage.
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.
Jensten Group renames and combines London Market proposition
Jensten Group has rebranded its London Market businesses which include Lloyd’s broker Senior Wright, and Lloyd’s and wholesale broker Tasker & Partners, as Jensten London Markets.
Coalition targets being core market player with broker only UK cyber insurance launch
Coalition is hopeful of becoming “one of the standard set of markets that domestic brokers approach for coverage” within 12 months after teaming up with Allianz to launch a cyber insurance product to SMEs and mid-market businesses in the UK, CEO Joshua…
Freedom Services Group launches 4-day week pilot
Freedom Services Group is rolling-out a four-day work week scheme to give staff back time with no salary reduction.
Brokers call for better claims communication from insurers
Brokers want better communication and more of a personal touch from insurers when dealing with complex claims, according to a survey by Allianz.