United Kingdom (UK)
EY predicts worst UK motor performance since 2010 with industry NCR of 114.6%
EY has revised its prediction for the UK motor insurance market and now expects this year will be the worst since 2010 with a net combined ratio of 114.6%.
Thomas Carroll creates Employee Ownership Trust
Thomas Carroll Group has handed over the reins to its 181 employees as part of an Employee Ownership Trust in a move the broker flagged as key to its long-term succession plan having never entertained the option of a trade sale.
Ex-ABI boss Huw Evans named KPMG UK’s head of insurance
Huw Evans has been appointed head of insurance at KPMG in the UK, replacing Trevor Jones from April 2024 who is retiring from the firm.
Home insurance prices rise a record 36% in a year
The average quoted home insurance price increased by 36.1% in a year to October, the highest annual rise on record, according to the latest Consumer Intelligence Home Insurance Price Index.
UK property MGA to launch in January 2024
Real estate managing general agent Ventis is set to launch in January with capacity from Accelerant and the support of Mission Underwriters.
Biba reveals 2024 theme for first conference under new CEO Trudgill
‘What’s next?’ has been announced as the theme of the British Insurance Brokers’ Association conference in 2024.
Brown & Brown snaps up South Wales broker R McGee
Brown & Brown (Europe) has bought out R McGee Insurance Brokers based in Maesteg, Glamorgan, for an undisclosed sum.
Jensten buys Scrutton Bland in East Anglia
Jensten has added to its footprint in East Anglia buying Scrutton Bland Insurance Brokers to follow up its purchase of One Broker, which completed last month.
Inperio takes two PI underwriters from Liberty
Inperio has hired professional indemnity experts Sam Goodier and Kras Eneva from Liberty Specialty Markets, Insurance Age can reveal.
Clear Group widens reach with launch of European arm
Clear Group has launched a holdings business in Continental Europe, as it looks to make its first acquisition in the area, Insurance Age can reveal.
Ardonagh buys RiskSTOP Group
Ardonagh Advisory has purchased RiskSTOP Group, a provider of risk management surveys and ancillary services to the UK insurer and broking communities.
Review of the Year 2023: Sicsic Adivsory’s Nadege Genetay
Nadege Genetay, partner at Sicsic Advisory, risks hate mail by citing the FCA action on multi-occupancy building insurance as her highlight of 2023 and predicts some brokers might move away from commission to remuneration based on work performed.
Premium finance lenders ready to support brokers hit by BNP Paribas pullout
The leaders of broker-facing premium finance providers have reassured they can move quickly to help brokers affected by BNP Paribas Personal Finance’s decision to exit in 2024.
The Green Insurer launches on CDL’s Strata
The Green Insurer has opened for business claiming to be the UK’s first truly green car insurance broker.
ABI adds Blanc, Foley and Boulton to board
The Association of British Insurers has added Aviva’s Amanda Blanc, Axa’s Tara Foley and Clive Boulton of M&G Life Insurance to its board.
AssuredPartners buys CIA Insurance
AssuredPartners has purchased Rugby-based CIA Insurance, a specialist landlord insurance broker.
A fifth of UK businesses victims of cyber-attacks in past year
Research by Aviva has found one in five businesses have been victims of a cyber-attack in the past year, with only 17% of small businesses having a cyber policy in place.
QBE joins Biba as partner
The British Insurance Brokers’ Association has added QBE as a partner, its 23rd in total.
Review of the Year 2023: JMG Group’s Nick Houghton
Nick Houghton, CEO of JMG Group, reflects on the handsome multiples being paid for brokers and why he does not like the phrase ‘direction of travel’.
FOS to drop levy to £70m from £106m
The Financial Ombudsman Service is consulting on lowering its levy by £36m for the 2024/25 financial year to £70m, as it projected reducing income by £51m.
Policy Expert eyes accelerated growth after ADIA takes majority stake
Steve Hardy, CEO at Policy Expert, is confident that new majority backer ADIA understands the business and is well placed to support it going forward.
Ripe adds motorhomes and campervans to portfolio
Insurtech broker Ripe has expanded its product portfolio with the launch of motorhomes and campervans insurance.
Markel recruits Axa’s Jo Sykes to lead broker business
Markel has appointed Jo Sykes as divisional director for the UK broker channel.
Review of the Year 2023: Axa’s Sarah Mallaby
Sarah Mallaby, Axa commercial distribution and trading director, reflects on the insurer’s cautious exploration of the opportunities afforded by AI and pushing the boundaries in ‘green’ schemes business.