Home insurance
Allianz commits to investing in local structure to support brokers
“The strength of the Allianz commercial business in the UK is without doubt our local, regional capability in those markets and the ability to deliver,” Allianz Holdings CEO Colm Holmes told Insurance Age.
Profits drop at Allianz Holdings in first half 2023 as GWP tops £2bn
Operating profit fell 5.5% at Allianz Holdings in the first six months of the year to £112.8m as the combined operating ratio deteriorated to 96.6% from 96.0% in the same period of 2022.
‘Disappointing’ – brokers react to Zurich personal lines broker exit plans
Brokers have expressed disappointment at Zurich’s plans to exit personal lines motor and home on broker panels.
AA Insurance Services switches to CDL from inhouse legacy system
AA Insurance Services has gone live on CDL Strata, kicking of a phased programme to migrate about two million car and home policies, Insurance Age can reveal.
Insurance drives half-year revenue growth at Moneysupermarket
Moneysupermarket grew insurance revenue by 23% in the first six months of the year to £105.6m.
Aviva buys Barclays’ home insurance book
Aviva has signed up to buy Barclays UK’s 350,000 strong home insurance portfolio.
Capacity provider Accredited backs MGA home specialist
Accredited Insurance (Europe) has backed managing general agent Integra Insurance Solutions with fresh capacity.
FCA cracking down on home and motor insurers
The Financial Conduct Authority has warned insurers about the support provided to struggling customers.
Turnover and profits soar at Avantia in 2022
Home insurance specialist Avantia achieved double-digit growth in turnover and profits in 2022.
Saga reveals fall in broking policy sales
Over-50s specialist Saga has reported a 7% drop in home and motor insurance policy sales in its broking division despite customer retention ticking up from 83% to 85%.
Academy Insurance updates on sale after deal fell through
Personal lines specialist Academy Insurance Services’ shareholders are going through due diligence in a sale process, according to a filing at Companies House.
FOS insurance complaints rise 19.9%
The Financial Ombudsman Service opened 39,730 new insurance cases in 2022/23.
Home quote prices jump 9.3% in three months
The average quoted price for home insurance rose by 6.7% in the past year to April – the highest annual increase since 2018, the latest Consumer Intelligence Home Insurance Price Index has revealed.
Qlaims inks multi-year deal with Prestige Underwriting
Qlaims has signed a multiyear contract to include its cover in the Prestige Underwriting Coverall household policy, Insurance Age can reveal.
Amazon adds Policy Expert to insurance store
Personal lines specialist Policy Expert has joined the Amazon Insurance Store taking the number of providers up to four.
Ecclesiastical flags second home crimes hitting HNW sector
One in five (22%) crimes experienced by high-net-worth clients happened at their second home or holiday home during the past 12 months, according to research by Ecclesiastical as it released new guidance to help brokers speak to clients about how to best…
Home insurance premiums tick up by less than inflation at 6%
The average price paid for a combined buildings and contents home insurance policy in the first quarter of 2023 was £315, according to the Association of British Insurers.
Middle hails organic growth at Ageas in long-term broker personal lines strategy
“We are growing organically in the continuing personal lines business. The go forward business,” Ant Middle, Ageas UK CEO has told Insurance Age.
FCA survey data tracks 13% of consumers cut back on insurance due to cost-of-living crisis
More than six million people cut or cancelled insurance cover in the six months to January 2023 to save money in the cost-of-living crisis, the Financial Conduct Authority has calculated.
Pikl partners with Prestige Underwriting on short-term products
Sharing economy specialist Pikl and Prestige Underwriting have signed a distribution partnership.
Sky aims to shake up home insurance with Zurich-backed product
Sky is launching a new smart home protection service, offering comprehensive home insurance and smart home technology worth £250.
LexisNexis Risk Solutions becomes Biba associate
LexisNexis Risk Solutions has become the 43rd associate of the British Insurance Brokers’ Association.
Flood Re launches training resource to support Build Back Better
Flood Re has produced a targeted training resource for the insurance market, to drive a deeper understanding of the Build Back Better scheme within insurance companies, managing general agents, brokers and throughout the claims supply chain.
AA insurance earnings fall 21% as dual pricing ban hits commissions
The AA’s earnings fell 21% to £55m (2022: £70m) in 2022 as the insurance business suffered from claims inflation and lower commissions following the FCA’s pricing ban.