Home insurance
Policy Expert targets doubling within five years, says CEO Steve Hardy
Policy Expert is aiming to double its one million customer count through further organic growth, adding new lines and potentially international expansion and acquisitions in the next five years, according to CEO Steve Hardy.
Aviva UK sees COR deteriorate and operating profit slip
Aviva UK’s combined operating ratio for H1 2022 has deteriorated to 95.6% and operating profit dropped to £159m from £169m in the same period last year.
Tribunal overturns CMA Most Favoured Nation clauses ruling and £17.9m Compare The Market fine
A Competition Appeal Tribunal has overturned a decision by the Competition and Markets Authority which was set to fine Compare the Market £17.9m for breaking competition rules on use of Most Favoured Nation clauses.
Ageas names Claire Green as director of distribution
Ageas has appointed Claire Green as its new director of distribution in a move it said was further evidence of its commitment to the personal lines broker market.
Drop in insurance pricing complaints at FOS
The Financial Ombudsman Service has highlighted a 33.4% fall in complaints about insurance pricing in 2021/22.
Experts warn clients will look elsewhere if brokers ignore parametric insurance
Specialists have highlighted the benefits to brokers of delivering parametric insurance to their clients and warned they will lose out if they do not engage with the fast-expanding offering that is becoming more mainstream.
Avantia grows revenue to £26.6m in 2021
Property specialist Avantia has reported revenue of £26.58m in 2021 with a reinvestment by ECI Partners.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
Drop in insurance complaints at FOS
The Financial Ombudsman Service has revealed a 26% fall in insurance complaints for 2021/22.
Primary Group appoints advisors for possible £1bn QMetric sale – report
Primary Group has taken on Perella Weinberg Partners to explore a potential £1bn sale of Policy Expert’s parent company QMetric, Bloomberg has reported.
Ceta launches notional home insurance product
Ceta has developed a notional home proposition, Prestige Notional, which is backed by Aviva.
Covéa returns to profit in 2021
Covéa Insurance has reported post-tax profit of £7.9m in 2021 reversing the loss of £30.8m the previous year.
LV adds Sam Dansey to lead home underwriting
LV has appointed Sam Dansey to head up its home underwriting team joining from Flood Re, Insurance Age can reveal.
One Sure buys Unicom from Tradewise liquidators
One Sure Insurance has bought the motor trade specialist Unicom Insurance brand, customer base and systems with all staff moving across as part of the deal, Insurance Age can reveal.
Accredited deal sees QIC exit, Policy Expert confirms
Policy Expert’s capacity deal of up to £2bn over six years with Accredited Insurance will replace its existing arrangement with QIC Europe when the current contract expires, the business has confirmed to Insurance Age.
Policy Expert signs six-year £2bn capacity deal with R&Q Accredited Europe
Home and motor insurtech Policy Expert has agreed a six-year capacity deal with A- rated R&Q subsidiary Accredited Insurance (Europe).
FCA warns on Broker Express clone
The Financial Conduct Authority has warned of a clone of Broker Express with fraudsters using or giving out details as part of their tactics to scam people in the UK.
Home insurance prices fall to record lows, says ABI
The average price paid in the UK for buildings insurance in the first quarter of the year dropped by 7% compared to Q1 2021 with contents insurance down 11%, according to the latest Household Insurance Premium Tracker from the Association of British…
Broker revenue falls at the AA
Revenue from broking activities fell to £100m for the year to 31 January 2022, the AA has revealed.
FCA to add 80 jobs focused on shutting down problem firms
The Financial Conduct Authority will focus resources on preventing serious harm, setting higher standards and promoting competition the watchdog detailed as it revealed its three-year strategy to improve outcomes.
Mark Coffey leaves Atlanta
The director of trading had been with the firm for nearly four years.
Saga reports drop in broking GWP and profit
The group sold Bennetts in August 2020.
Protection brokers eye general insurance
Enduralife is to sell buildings and contents insurance in Ceta/Paymentshield tie-up.
Ex-Fresh CEO Mike Wall joins Markerstudy
Wall is recruiting a team of 12 to develop the business’ non-standard home and motor offerings.