Motor
Motorbike market is stable despite MCE downfall – brokers
Motorbike brokers believe the market is stable despite MCE’s broking business entering administration on Monday.
FCA names MCE administrators
The Financial Conduct Authority has confirmed that Mark Holborow, Vincent Green and Steven Edwards of Crowe UK are the joint administrators of MCE Insurance, as appointed by the company’s directors.
WTW/Confused: 12-month motor premium rise the highest since records began
Comprehensive car insurance premiums have risen by a record 40% (£222) during the last 12 months, with UK motorists now paying £776 on average, according to the latest Confused Car Insurance Price Index in association with WTW.
Motorbike broker MCE enters into administration
Motorbike broking specialist MCE Insurance Limited entered into administration last night, it has been confirmed.
Broking Success: Targeting the 100-year milestone
WH&R McCartney is believed to be the oldest independent broker in Scotland. With only a handful of years left to go until its centenary, directors Graeme Robb and Alan Kirkwood are confident of further growth and success for the Motherwell-based firm.
Zurich exits regional and national broker personal lines channels
Zurich UK has today announced plans to refocus its personal lines home and motor business to concentrate on high net worth through Zurich Private Clients, alongside its MGA and partnership channels.
Think Insurance on the hunt for acquisitions – Russell Bence
Think Insurance is on the hunt for acquisitions, targeting brokers with around £3m of gross written premium, commercial director Russell Bence told Insurance Age.
Broking telematics under the spotlight as motor insurers withhold or pull capacity
The broking telematics market has had a few setbacks of late with Unipol pulling capacity and Lumun pivoting to become an MGA. But as Saxon East discovers, there are positive signs on the road ahead too.
Sabre picks CDL for pricing and for retail platforms
Sabre Insurance has moved its pricing and direct insurance platforms to CDL, Insurance Age can reveal.
Clear Group in double broker swoop
Clear Group has sealed a pair of broker deals, buying Mayor Broking and MJB Finningley.
FCA cracking down on home and motor insurers
The Financial Conduct Authority has warned insurers about the support provided to struggling customers.
FCA orders DLG to compensate any customers short-changed on total loss motor claims
The Financial Conduct Authority has ordered Direct Line Group to compensate any customers who have been short-changed on settlements for their written-off vehicles.
New insurtech aims to ‘revolutionise’ non-standard motor broking
A new insurtech named Kwoter aims to ‘revolutionise’ insurance broking in non-standard risks.
MGAA names Signature Underwriting as 200th member
The Managing General Agents’ Association has named niche motor hire specialist Signature Underwriting as its 200th MGA member.
EY pegs UK motor NCR at decade worst 109.5%
The UK motor insurance market experienced its worst performing year in a decade in 2022, with further losses expected this year, according to EY’s latest UK Motor Insurance Results report.
JMG strengthens in southern England with further Southampton buy
JMG Group has bought commercial insurance broker GR Marshall, its second deal in Southampton this year.
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.
Insurtech Lumun pivots to becoming broker and MGA
Insurtech Lumun has pivoted to starting up as a broker and managing general agent specialising in non-standard motor.
A-Plan posts double digit revenue and profit growth for 2022
Personal lines specialist high street broker A-Plan grew turnover by 22% and pre-tax profit by 20% in the year to 30 September 2022.
Buyers circle up-for-sale UK motor capacity provider Accredited
Accredited is in a sale process with a number of buyers interested in purchasing the business, owner R&Q has confirmed.
Oxbow Partners forecasts motor market COR of 106.1% in 2023 and 100% in 2024
Oxbow Partners has predicted a combined operating ratio for the UK personal lines motor market of 106.1% in 2023, improving to a break even point of 100% in 2024.
Interview: Clare Lebecq, SRG
Clare Lebecq has worked hard to get to the top. She tells Insurance Age her story and goals with Specialist Risk Group, and shares her views on diversity and inclusion and work culture.