Motor
Markerstudy to buy First Central? – Where there’s smoke, there’s Skyfire
Jonathan Swift discusses the touted potential tie-up between Markerstudy and First Central and asks whether the former is ready to get back on the Rock with this deal.
Mulsanne and Complete Cover parent slips to 2021 loss
Gibraltar-based motor insurer Mulsanne Insurance more than doubled its gross written premium to £119m in 2021 from £54.8m in 2020.
Close Brothers reports premium finance drop
Close Brothers has posted a 4% fall in its premium finance book to £1bn in the year to 31 July 2022.
Got You Covered names Lisa Powis as non-executive director
Personal lines insurance broker, Got You Covered, has added Fresh-founder Lisa Powis to its executive management team in an advisory role as non-executive director.
Complete Cover report details outsourcing to South Africa and job cuts
Complete Cover Group introduced a restructuring programme in the fourth quarter of 2021 to significantly reduce the UK workforce with much of the customer facing activities outsourced to South Africa, a Companies House filing has revealed.
One Call reports £6.25m fall in profit, despite rise in turnover
One Call Insurance has reported a drop in profit to £10.75m (2020: £17m) for the financial year ended 31st December 2021.
Zego doubling down on growth with 40 brokers
Zego is pursuing a route of working with brokers who “see how the future is evolving” rather than a working “with any broker” approach, CEO Sten Saar told Insurance Age.
Devitt grew 10% in run-up to Gallagher sale
Romford-based Devitt Insurance Services has posted 10% growth in turnover to £14.43m for 2021.
Car damage inflation cooling off - Jefferies
Jefferies’ UK motor insurance tracker has revealed that car damage inflation has dropped and is now at 7% year-on-year as the group maintained its forecast of a combined operating ratio of 116% for the market in 2022.
TL Dallas posts 10% profit rise in 2021
TL Dallas Group has reported a 5.1% rise in turnover to £9.78m in 2021.
Drop in complaints to FOS but buildings and motor insurance feature in top five
Buildings insurance and car/motorcycle insurance have featured in the Financial Ombudsman Service’s top five most complained about products for the first quarter of the financial year.
SRG completes Hamilton Leigh buy
Specialist Risk Group has completed the acquisition of motor-trade specialist Hamilton Leigh for an undisclosed sum.
More acquisitions on the horizon for Seventeen Group
Seventeen Group is poised to strike more deals before the end of this year and into 2023 with European expansion on the agenda, according to CEO Paul Anscombe.
Trade credit joins cyber as a challenging market – Aon
Pricing in the UK market continued to harden across all classes in the second quarter except for directors and officers’ insurance, according to the latest report by Aon.
H&H expands in Wales with Wrexham office
H&H Insurance Brokers has opened an office in Wrexham to be its administrative hub for its Wales operation.
Aston Lark buys AJ Insurance Service
Aston Lark, a Howden company, has acquired Essex-based AJ Insurance Services for an undisclosed sum.
Urban Jungle expands into motor insurance
Insurtech Urban Jungle has launched its new car insurance service which offers both home and car cover.
People Moves: 15-19 August 2022
Keeping you up to date with the top personnel changes in insurance.
Experts warn that cost of living crisis could increase ghost broking cases
The sky-rocketing cost of living and the longer term economic effects of the pandemic could lead to an increase in ghost broking, experts have warned.
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.
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.
GWP up but profit and COR deteriorate for Allianz Holdings
Allianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022.
Jensten buys MGA Origin
The Jensten Group has bought SME specialist managing general agent Origin UW for an undisclosed sum.