Appointed representatives (AR)
Acrisure targets drawing on strength of one infrastructure for Eleven Network
Acrisure has dialled up Ten Insurance Services to Eleven Network, promising a transparent model and “unique” offering in the sector, spanning across appointed representatives and directly authorised firms.
FCA posts improved SMCR approval times but AR permissions still lagging
The Financial Conduct Authority has revealed the average days taken in 2022-23 to process five key authorisations that affect brokers were within its target timeframes, but there is further to go to hit the statutory requirement for 100% of cases.
Movo unveils MGA and rolls out Quote Portal as targets grow with start-ups focus
Movo will launch its managing general agent Moveda Underwriting on 1 May, upping its appointed representative network target to 120 next year. It also rolled out Quote Portal, managing director Lea Cheesbrough told Insurance Age.
Stubben Edge sets new goal after hitting first year AR network target
Stubben Edge is eyeing up boosting its appointed representatives network to 40 after hitting its launch goals, network director Gemma Jarrett has revealed to Insurance Age.
Momentum delivers double-digit profit and revenue growth in 2022
Appointed representatives network Momentum Broker Solutions grew revenue by 17% in 2022 to £11.69m, as profit before tax leapt 43% to £1.11m.
Opinion: How long have directly authorised independent brokers got left?
Lea Cheesbrough, managing director of Movo Partnership argues the appointed representative model is becoming the preferred choice for start-up brokers and increasingly popular among directly authorised firms looking to switch.
McClarrons adds marine specialist Soak Insure as AR
North Yorkshire-based McClarrons Insurance Brokers has expanded into the marine market, taking on specialist Soak Insure as an appointed representative.
Movo sets £90m target after beating 2022 goal
Movo Partnership grew from 52 appointed representative broker members and £40m of gross written premium in 2021 to 66 members and £68m GWP by the end of 2022.
Stubben Edge raises £5.6m as business valued at £175m
Stubben Edge Group has secured a further £5.6m in investment taking its total raised to over £20m.
Rectifying historical accounting mistakes pushes AR network Ten into loss
Correcting previous errors in the accounts department caused Ten Insurance Services to record a £71,000 operating loss in 2021.
Broker Expo 2022: Brokers urged to act now over looming AR rules deadline
As the implementation of the appointed representative requirements edges closer, senior consultant Sue Mallender at Sicsic Advisory has warned Broker Expo delegates that principal firms need to act to make sure they hit the deadline.
Broker Expo 2022: £250,000 to set up a broker
It would cost around £250,00 to set up a broker from scratch these days, according to Brokerring CEO Stuart Randall.
Stubben Edge buys Helodrium
Stubben Edge Group has bought regulatory and compliance experts Helodrium.
FCA continues to flounder on approved person authorisation targets
The Financial Conduct Authority is falling short on targets in speedily giving individuals approved person status to carry out work and has posted a worsening performance on approving changes of control requests for firms.
Stubben Edge buys finance platform Finpoint
UK-based insurtech Stubben Edge has acquired credit broker Finpoint for an undisclosed sum.
Stubben Edge secures £5.6m investment
UK-based Insurtech Stubben Edge has secured a £5.6m investment which it said will be used for further growth through new business and an “ambitious” M&A strategy.
FCA reveals final rules on appointed representatives
The FCA has confirmed new rules to make authorised financial firms more responsible for their appointed representatives.
FCA reveals D&I progress and strengthened targets
The Financial Conduct Authority has revealed progress towards its diversity and inclusion goals in its Annual Report & Accounts for 2021/22.
FCA fails to hit target for over half of AR applications
The Financial Conduct Authority only met its processing speed target for 44.7% of appointed representative notifications in 2021/22, the watchdog has revealed.
Momentum reveals £100m GWP goal
Appointed representative network Momentum is targeting £100m in GWP in the next three to five years, according to managing director Howard Pepper.
FCA reveals D&I and AR delays
The Financial Conduct Authority has delayed its consultation paper and policy statement on diversity in financial services as well as a policy statement on reviewing the appointed representatives regime.
Momentum grows turnover and profit as it tops £50m GWP
Appointed representatives network Momentum has reported turnover of £9.9m for 2021, up from £7.8m in 2020.
Regulation round-up: An end to form over substance?
Biba’s David Sparkes considers recent developments at the Financial Conduct Authority
New Stubben Edge network appoints first AR
Stubben Edge has signed up The Verity Centre as its first appointed representative partner.