United Kingdom (UK)
Ripe grew turnover 17% in 2022
Insurtech Ripe grew turnover by 17% in 2022 to £27.2m as policy count also rose in the year.
Ten Insurance swings back to profit in 2022 before Acrisure sale
Appointed representatives network Ten Insurance Services swung back to a post-tax profit of £305,789 in 2022, reversing a loss of £101,425 in 2021.
Think Insurance buys Ashby Wray
Think Insurance Services, a specialist motor broker based in the West Midlands, has struck its second deal buying Ashby Wray Insurance Brokers.
Rebranded GRP reveals loss and deal spend for takeover year
Global Risk Partners, now known as Brown & Brown Europe, spent £150m on 18 deals in the past nine months of 2022 as the sale of the consolidator completed, according to a filing at Companies House.
A-Plan and Aston Lark names disappear with Howden rebrand
Howden has rebranded A-Plan and Aston Lark, introducing its own name to 215 locations across the UK and Ireland.
My Perfect Broker Week: Taveo’s Ed Halsey
To tie in with the first-ever UK Broker Week, we asked our speakers to outline what their perfect working week would look like. Taveo’s co-founder and chief operating officer, Ed Halsey, shares his thoughts.
Biba welcomes FCA flat insurance reforms
The British Insurance Brokers’ Association has welcomed the Financial Conduct Authority’s rule changes on residential multi-occupancy buildings insurance.
FCA confirms start date for leasehold buildings insurance reforms
The Financial Conduct Authority has confirmed new measures to support leaseholders in the multi-occupancy buildings insurance market will come into force on 31 December which for brokers will mean being transparent on commission and a near ban on paying…
‘Extremely disappointed’ Alec Finch to appeal judge’s fraud verdict and damages
Alec Finch said he was ‘extremely disappointed’ and would appeal the judge’s verdict that favoured Toby Esser and his team, who claimed fraud took place when they were sold the AFL broker.
People Moves: 25 – 29 September 2023
Stay in the loop with the latest insurance personnel moves.
FCA flags PI concern in AR update
The Financial Conduct Authority has highlighted the need for principal firms to have compliant professional indemnity insurance to cover the activities of current and former appointed representatives.
Partners& takes on Hall Insurance Services
Partners& has expanded in the South East with London-based Hall Insurance Services.
Ex-AFL owners Bob and Alec Finch guilty of fraud in broker sale
Former AFL owners Bob and Alec Finch committed fraud by misrepresenting their financials in the sale of their business, a High Court judge has ruled.
Biba CEO Trudgill hails protection signposting success as agreement renewed
More than 30,000 consumers have sought help to access life and protection insurance since an industry agreement to signpost customers with medical conditions to specialists was introduced in January 2020 spearheaded by The British Insurance Brokers’…
Moody’s stays negative on outlook for UK insurance
Ratings agency Moody’s has kept its negative outlook on the prospect for UK property and casualty insurance warning of higher reinsurance costs and pressure on personal lines margins as price growth lags inflationary cost increases.
RSA launches pension liability trustee product
RSA has expanded its mid-market financial risks portfolio with the launch of a pension trustee liability insurance product.
Ecclesiastical UK & Ireland COR balloons to 106.6%
Ecclesiastical Insurance’s combined operating ratio in the UK and Ireland shot up to 106.6% in the first half of 2023 from 94.5% in the same period of 2022.
Saga pauses sale of insurance arm Acromas as broking profits slip
Saga has decided to “pause” the sale of its underwriting business Acromas Insurance, the over-50s specialist has confirmed.
Premium finance market warned of serious consequences amid latest FCA concerns
The premium finance market is being warned it faces serious regulatory consequences after the Financial Conduct Authority issued yet more concerns about industry practices.
Brokers confident in commercial motor growth but have capacity concerns: survey
A survey has revealed that 83% of brokers do not believe there are enough specialists or insurers offering capacity for the haulage, waste disposal and courier markets.
Brokers “front and centre” for Hiscox, says Dye on one-year anniversary
Celebrating his first year as UK CEO of Hiscox, Jon Dye tells Insurance Age about the central role of brokers in the insurer’s growth strategy across its new operating model in high net worth, beefed up regional structure and schemes ambitions.
Clear completes hat-trick buying Bluestone in Cirencester
Clear Group swooped for its third deal in September buying Bluestone Insurance Services to boost its presence in the South West.
Arkel Underwriting targets landlord growth with Applied expansion
Arkel Underwriting has rolled out its landlord product, Premier Let, on Applied Systems in its second partnership with the software provider in a matter of months.
MGAs urged to check on capacity partnerships amid Vesttoo fraud scandal
Managing general agents and carriers are being urged to carry out 'robust and periodic due diligence' following the Vesttoo insurtech scandal.