Motor
MIB appoints Angus Eaton as CEO
The Motor Insurers’ Bureau has named Angus Eaton from Hastings Group as its new CEO, taking over from Dominic Clayden in July.
Wakam receives PRA approval for new £500m GWP UK insurer
French insurance group Wakam has told brokers thinking of setting up their own managing general agents to consider it as a capacity partner after receiving regulatory approval for a new UK subsidiary.
Motor premiums increase by just 1% in Q1 – ABI
Motor premiums rose by just 1% in the first quarter of 2024, however the average claim paid increased by 8% according to the Association of British Insurers.
Interview: Simon McGinn on Dual’s regional ground-up build for brokers
In his first interview since taking up the role, Dual UK CEO Simon McGinn tells Insurance Age about his plans for the managing general agent, including expanding the reach with regional brokers and boosting the digital offering.
The growing role for brokers in fighting insurance fraud
With reports of fraud escalating in terms of value or number, the role of brokers in combatting these crimes should not be underestimated. Edward Murray looks at the controls, validation tools and processes being implemented to support both detection and…
ABI stops short on voluntary premium finance cap as it sets out five principles
The Association of British Insurers has stopped short on a voluntary industry-led cap on premium finance as it set out five principles aimed at helping consumers manage the cost of paying-monthly for motor insurance.
AA’s insurance arm Ebitda jumps by 42%
The AA’s insurance arm’s adjusted Ebitda rose by 42% to £64m as its broker books fell slightly in the year ended 31 January 2024.
Zurich strikes five-year capacity deal with MGA Freedom Services
Zurich has signed a five-year capacity deal with MGA Freedom Services that will see both re-enter the telematics market, Insurance Age can reveal.
Biba Conference 2024 countdown: LexisNexis’s Dan Cicchetti
Dan Cicchetti, senior director of client engagement in the UK and Ireland at LexisNexis Risk Solutions, looks forward to showcasing vehicle data solutions on its stand, before heading to Box Bar Manchester for another of its legendary client evenings.
First fall in car premiums for over two years
Comprehensive car insurance premiums fell by 5% in the first three months of 2024 after nine consecutive quarters of rises, according to the latest research from Confused/WTW.
FCA’s Brewis warns MPs premium finance action could have ‘waterbed effect’ for consumers
The Financial Conduct Authority’s insurance director Matt Brewis has raised the concern that taking action on premium finance would have little or no impact on the price of motor cover.
Broking profits fall at Saga
Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.
Alan Boswell seals deal for taxi and driving school specialist
Alan Boswell Group has bought The Insurance Centre, a Norwich-based insurance broker with expertise in taxi and driving schools insurance.
Covéa cuts losses but underwriting deficit grows
Covéa Insurance has posted an £87.3m loss after tax for last year with underwriting losses across commercial, personal and speciality lines.
Biba launches electric car scheme
The British Insurance Brokers’ Association and Novo Insurance have launched a motor insurance scheme tailored for electric cars in the UK market.
Broking Success: Weir Insurance managing director Karen Weir
Karen Weir, managing director of Weir Insurance, sees retraining non-insurance talent and retaining control as advantages as her business looks to grow by 15% in 2024.
MGA Blagrove resumes trading after securing Accredited capacity
Blagrove Underwriting Agency and two MGAs it supports with capacity have today resumed offering quotations and renewing polices, Insurance Age can reveal.
MyFirst’s James Noble targets £40m GWP after becoming directly authorised
James Noble, CEO and founder of MyFirst, is targeting £40m gross written premiums in 2024 after the business grew from £1.5m GWP to £19m GWP in three years.
FSCS details £23m MCE Insurance Company recovery from £90m hit
The Financial Services Compensation Scheme has secured £23m from the estate of Gibraltar-based Green Realisations 123, formerly known as MCE Insurance Company, after paying out approximately £90m in compensation to the firm’s customers.
Kingfisher drives further into classic car market with Lynbrook buy
Kingfisher Insurance has bought Lynbrook Insurance to expand its presence in the classic vehicle market.
FOS confirms levy cut but forecasts more insurance complaints
The Financial Ombudsman Service has set its levy for 2024/25 at £70m despite anticipating an increase in operating expenditure and caseload.