Motor
Ageas reveals 20% UK GWP growth in 2023
Ageas has reported a 20% hike in UK gross written premiums to €1.49bn (£1.27bn) for 2023, as profits in the European division rose.
Rating factors ‘fundamentally discriminatory’, according to Stella’s Sam White
Experts at the Association of British Insurers’ annual conference have urged that everyone working together is what will improve the poverty gap.
Blog: Scaling direct sales through digital
Founder and managing director of short-term cover specialist GoShorty, Andy Moody, discusses the key actions for brokers looking to grow their direct sales channel.
Holmes promises to ramp up focus on smaller brokers and across mid-market
Allianz has been growing in SME business and will push ahead further with smaller brokers this year alongside targeting growth in mid-market, according to UK CEO Colm Holmes.
April leaders on moving into UK with Lexham buy
Moving into the UK with the purchase of Lexham is part of a plan to build Europe’s premier two-wheels specialist broker, rather than the start of a buying frenzy as a new consolidator, April Group leaders have confirmed.
Start-up broker partners with Agile on fleet claims app
Agile Developments Group has partnered with brokerage Hummingbird Insurance Services to deliver the Agile claim app, portal and dashboard tailored to meet the needs of its fleet clients.
Insurance surge of 28% drives 2023 revenue growth at Moneysupermarket
Aggregator Moneysupermarket grew insurance revenue by 28% to £220m last year as group revenue rose 11%.
Profile: Kelly Ogley, Howden – Growth strategy
Kelly Ogley, CEO of Howden Consumer and Local Commercial, outlines the firm’s growth strategy and urges women to back themselves.
Allianz Commercial sees double-digit jump in fraud detection again
Allianz Commercial detected £77.4m worth of claims fraud in 2023 – up from £70.7m in 2022 – with application fraud savings of £1.95m.
GAP insurers suspend sales after FCA concerns on fair value
Insurers covering 80% of the guaranteed asset protection market have agreed to pause sales after a request from the Financial Conduct Authority, the regulator has confirmed.
Markerstudy weighing up Northern Ireland options as it exits short-term market
Markerstudy has confirmed to Insurance Age that it plans to withdraw from the short-term motor insurance market.
Axa pulls the plug on motorbike business
Axa will stop underwriting motorbike insurance from March, Insurance Age can reveal.
UK commercial pricing flat in Q4 – Marsh
UK commercial insurance pricing was flat in the final quarter of 2023 having posted its first fall in years in Q3, according to the latest research by Marsh.
The AA buys Keycare
The AA has purchased Key Care, the household and motor key insurance specialist.
Administrators appointed at insurtech Humn after sale fail
Commercial motor insurtech Humn has appointed administrators after a failed Series B fund raise and aborted efforts to sell its assets.
Fitch: Improving outlook for insurers but no room for complacency
The effect of “baked in” pricing improvements and easing economic headwinds gives an improving outlook for insurers this year, but will only make it less bad than 2023, according to Fitch.
Amazon to shut Insurance Store after just over a year
Amazon is closing its UK Insurance Store, which was launched with great fanfare in October 2022.
Howden buys Scottish broker Laurie Ross
Howden has bought Glasgow-headquartered personal and commercial lines broker Laurie Ross.
French wholesaler buys motor specialist broker Lexham Insurance
April, a wholesale insurance broker in France and Europe, has bought two-wheeler insurance specialist Lexham Insurance.
Qmetric reveals £41m loss in run-up to sale
Policy Expert owner Qmetric lost £41.06m last financial year ahead of being bought by the Abu Dhabi Investment Authority, which has gone on to invest £35m in the business.
Allianz drops LV brand in broker channel
Allianz will rebrand LV Broker in May, the insurer has confirmed.
Ghost broker who targeted Sudanese community sentenced
The City of London Police have revealed a man who offered fraudulent motor insurance policies to Sudanese nationals living in the UK has been sentenced to 10 months’ imprisonment, suspended for 12 months.
Car insurance premiums surge 58% in a year
According to research by WTW and Confused, car insurance premiums have soared to a record high with a 58% rise in 2023.
Biba launches three claims guides for members
The British Insurance Brokers’ Association has unveiled three claims guides for members to use, to help customers better navigate the claims process for home, motor and travel insurance.