United Kingdom (UK)
Howden to become broking powerhouse in the North after Reich buy
Reich will add bolt-on acquisitions, becoming the Northern hub for Howden’s expansion into the region, according to Aston Lark CEO Peter Blanc.
Hiscox launches broker extranet
Hiscox has launched a broker extranet claiming it is the first full cycle digital trading extranet built by an insurer that supports integration into brokers’ Acturis back office.
MGAA edges closer to membership milestone
The Managing General Agents’ Association’s CEO Mike Keating has revealed that the trade body is close to surpassing 200 full members in the next couple of months.
Beazley posts 14% GWP growth as profits nearly halve in 2022
Beazley has reported gross written premiums of $5.27bn (£4.4bn) for 2022, up by 14% on the year before.
Wholesale travel broker tops up cancellation cover to £50,000
Wholesale travel broker PJ Hayman has topped up its cancellation cover from £20,000 to £50,000 amid the rise of travel restrictions since Covid.
Minister concerned Consumer Duty could unleash claims farmers – report
City of London minister Andrew Griffith is concerned Consumer Duty could unleash spurious lawsuits from claims management companies, according to a report in the Financial Times.
Biba pitches holiday and residential park scheme with Binnacle
The British Insurance Brokers’ Association has launched a holiday and residential park scheme for its members with specialist provider Binnacle Insurance.
Howden confirms Reich takeover
Howden has confirmed Insurance Age’s exclusive story that it has bought Reich Insurance Group.
Clear snaps up IFM Insurance Brokers
Clear Group has acquired Sheffield-based broker IFM Insurance Brokers.
BDP: Broking is not a boys’ club, says SJL CEO Simon Lancaster
The broking sector is changing, and while there is still work to do, progress on closing the gender gap is being made, according to SJL Insurance Services founder and CEO Simon Lancaster.
Howden buys Reich
Howden has bought Reich Group for an undisclosed sum, Insurance Age can reveal.
CNA Hardy unveils new product for multinational businesses
CNA Hardy has launched a new package product solution for multinational businesses called Atlas.
CFC targets start-ups and SMEs with intellectual property policy
CFC has launched a product specifically designed to protect start-ups and small businesses from threats to their intellectual property.
Profits and turnover up at Reich in 2022
Reich Insurance Brokers increased revenue organically by 10.4% to £14.68m in the year to 31 March 2022.
Jensten Group snaps up schemes broker Darwin Clayton
Jensten Group has bought schemes broker Darwin Clayton for an undisclosed amount.
Accredited Europe looks to partner with UK MGAs as premium nears £500m
Randall and Quilter’s European program arm, the capacity backer of Policy Expert and Inperio, is looking to partner with UK managing general agencies.
Ansvar rolls out clubs, groups and societies cover
Ansvar, part of the Benefact Group, has launched a clubs, groups and societies policy for associations or organisations dedicated to a particular interest or activity.
Insurers could face £10m claim from paralysed female rugby player
A female rugby player has won compensation, which could reach £10m after a tackle from an opponent left her paralysed.
UK leads on insurer M&A while MGA market ‘buoyant’
The UK led the way on carrier mergers and acquisitions in Europe during 2022, as the overall region saw 127 deals – a 1.6% year-on-year rise.
Fleet specialist Flock secures $38m in funding
London-based insurtech Flock has raised $38m (£31.7m) in series B funding led by Octopus Ventures.
Davies names Allison Carr UK & Ireland CEO in group reorganistion
Davies Group has unveiled a new group structure as it aims for global growth.
People Moves: 20 – 24 February 2023
Follow the latest insurance personnel moves.
Amb Insurance Services doubles with Mercer Jones & Company buy
Newcastle-under-Lyme-based Amb Insurance Services has snapped up Stoke on Trent-based Mercer Jones & Company taking its gross written premium up to £6m.
Axa grew UK and Ireland revenue 4% in 2022 but COR deteriorated to over 100%
Axa has posted €3.74bn (£3.3bn) of revenue in the UK and Ireland for 2022, up 4% from the previous year on a comparable basis, with growth in both commercial and personal lines.