Fleet
SRG adds to MGA offering with Capulus
Specialist Risk Group has purchased Capulus, a specialist motor fleet managing general agent, based in Wales, and will build out SRG's MGA MX which was launched in December 2021.
The stats: Q2 2024 – Commercial combined and combined liability premiums fall for first time in three years
The smallest index movement since Q2 2021 suggests the commercial lines market is starting to become more competitive again, as Ida Axling reports.
Market Movement Index: Smaller insurers gain market share from re-broking
New research from Broker Insights shows brokers are placing more business with smaller players, resulting in a changing landscape where competition can thrive. Rachel Gordon reports.
Clear buys book and assets of Maynard Milton Insurance Services
Clear Group has bought the book and assets of £4.9m gross written premium Southend-on-Sea based broker Maynard Milton Insurance Services.
Ardonagh Advisory notches up fifth buy of 2024
Ardonagh Advisory has acquired Rollinson Smith Insurance Brokers, a community broker servicing the Shropshire, Staffordshire, West Midlands and North Wales regions with a reach in London and other areas of the country.
The stats: Q1 2024 - Commercial combined slows to near halt
The year has started with almost no average premium growth in commercial combined while fleet and property owners have powered ahead, according to the latest statistics from Acturis.
Pen expands into Ireland with Wrightway Underwriting
Pen Underwriting has bought Republic of Ireland-based managing general agent Wrightway Underwriting establishing its first on-the-ground presence in the country.
The stats: Fleet racing ahead at record rate
The latest statistics from Acturis have shown the fleet market bucking the trend on premium increases. Whereas almost all other lines have seen hardening falling away, fleet has surged on, up by 7.9% – the highest quarterly rise on record.
Patons increases GWP by more than 18%
Patons Insurance’s gross written premiums rose by 18.42% organically to £27m in the financial year to March 2024 – a record high.
Flock partners with Acorn on taxi fleet insurance product
Insurtech Flock has partnered with the Acorn Group to launch a taxi fleet insurance product in an aim to make the world “quantifiably safer” by helping customers reduce risk, CEO of Flock, Ed Leon Klinger told Insurance Age.
Market Movement Index: should I stay or should I go?
New research from analyst Broker Insights shows there is plenty of commercial policy movement – particularly in lower premium classes – which indicates strong competition and adequate capacity. But do brokers agree? Rachel Gordon reports.
JMG strikes its biggest deal of 2024 with BQI swoop
JMG Group has bought BQI Insurance and sister company BQI Protection.
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.
Applied updates on commercial push
Applied Systems has confirmed Arch Insurance is about to enter the pilot phase of onboarding and will be live on the Applied Epic broker management system in April, with Iprism and Ark to follow and more promised in 2024.
Three MGAs put motor business on pause as capacity crunch continues to bite
Blagrove Underwriting Agency and two MGAs it supports with capacity have informed brokers that they will not be able to offer quotations or renew policies for 1 April, Insurance Age can reveal.
Aon buys in administration Humn.ai’s assets and IP
Aon has bought Humn.ai’s technology assets and intellectual property to strengthen its own commercial fleet proposition, months after the insurtech appointed administrators.
Start-up fleet broker aims for 90% app uptake
Start-up fleet broking specialist Hummingbird Insurance Services is aiming to create a sustainable motor portfolio that runs at an industry-leading loss ratio.
The stats: Hard market remains - but for how much longer?
Property and fleet rates remain stubbornly high as shown by the latest Q4 figures from the Acturis Commercial Lines Index, Rachel Gordon reports.
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.
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.
TBIG backs first broker start-up
Nathan Walton has launched Cheshire-based commercial broker Insurance Connections, backed by The Broker Investment Group.
Allianz has all the ingredients to be the go-to on mid-market for brokers, says Carey
Dave Carey, managing director for mid-market at Allianz Commercial, is upbeat on the prospects for the insurer working in partnership with brokers as he reveals the characteristics-based underwriting approach for 2024.
Review of the Year 2023: Direct Commercial’s Adam Marsh
Adam Marsh, head of agency and development at Direct Commercial reflects on asking ChatGPT why commercial motor insurance should use AI and why good service is frequently over-promised and under-delivered.
SEP delivers record year for business growth
Merseyside-based SEP Insurance has reported a record year, growing written premiums by 40% in 12 months.