Property
MGA adds Hiscox to non-standard property panel
NBS Underwriting has added A-rated capacity from Hiscox to its non-standard household product panel.
Meet the MGA: Optio Underwriting
With an aim to be the most admired global specialty MGA, Optio Underwriting group CEO Deepak Soni outlines how it attracts top talent, plans to mix organic growth with M&A and discusses the importance of having a PE backer that understands the subtle…
Interview: Mike Bottle, managing director of the Arch Insurance UK regional division
After a decade of transformation, multi-award-winning Arch is very much open for business with brokers and ready for more profitable growth across its regional network, hub and digital offerings, boss Mike Bottle tells Insurance Age.
Meet the MGA: Aspect
Following its recent brand refresh Oli Williamson, co-founder and chief underwriter, explains how Aspect is seeking to expand its core mid-corporate market offering into new areas such as terrorism and cyber – with an eye very much on how it can leverage…
Zurich targets £250m of GWP after extending relationship with MGA
Zurich UK has extended its capacity agreement with Plum Underwriting for a further five years, with ambitions to reach £250m GWP over the term.
Zurich fraud detection rises to £94m
Zurich UK uncovered £94.79m of fraudulent claims in 2024, around £260,000 per day.
Lloyd’s sets scene for full-year results as COR ticks up to 86.9%
Lloyd’s has unveiled a combined operating ratio of 86.9% for 2024, with gross written premium rising to £55.5bn, in a trading update ahead of its full results later this month.
The stats: Q4 2024 – Premium growth continues, but at a slower pace
The Acturis Commercial Broking Index reveals further premium increases at the end of the year, but experts predict the market is set for softening in 2025. Ida Axling reports.
Bolt-on deal sealed by Bspoke, with more to come, says Smyth
Bspoke has completed a bolt-on deal and has a “fair bit” of ongoing activity, group CEO Tim Smyth told Insurance Age.
Beazley posts record profit as premium tops $6bn
Beazley has reported insurance written premiums jumped 10% to $6.16bn (£4.84bn) for the year ended 31 December 2024.
US consolidator completes first overseas deal with UK MGA buy
Bishop Street Underwriters has completed its acquisition of Landmark Underwriting, a specialty-focused managing general agent based in London.
Zurich UK boosts operating profits as GWP rises and COR improves
Zurich UK improved its combined operating ratio in property and casualty business to 91.7% last year from 93.8% in 2023.
Sompo creates global P&C and wellbeing segments
Sompo Holdings has formed two global segments, Sompo Property and Casualty and Sompo Wellbeing with the restructure kicking in on 1 April.
Specialty insurer becomes latest Lloyd’s entrant with Syndicate 1984
Convex Group, the specialty insurer and reinsurer, has received in principle approval to launch Lloyd’s Syndicate 1984, which will start underwriting in April 2025.
PIB kicks off 2025 buys with Residentsline
PIB has bought flats and apartments insurance specialist Residentsline from managing director owner Belinda Bagnall in its first deal of the year.
Market Movement Index: Brokers cutting agencies to focus on fewer insurers
Analysis from Broker Insights shows brokers are consolidating agency numbers and ending relationships with smaller, less useful, insurers. Rachel Gordon breaks down the data.
MGA Aspect expands in property with more products promised for brokers
High-hazards mid-market specialist managing general agent Aspect has rolled out a broader range of product capabilities and a brand refresh.
Weather-related domestic damage cost insurers £585m in 2024, says ABI
The Association of British Insurers has calculated insurers paid out a record £585m for weather related damage to people’s home and possessions in 2024.
UK commercial rates still falling by 5% – Marsh
UK insurance rates fell by 5% in the final quarter of last year, maintaining the speed of decline seen in Q3, according to Marsh, with financial and professional lines as well as cyber seeing the steepest declines.
TMHCC hands Heath new distribution head remit
Tokio Marine HCC has promoted its head of delegated property Stuart Heath to the role of head of distribution – International.
Miller signs up to buy AHJ
Miller has struck a deal to buy UK headquartered Alwen Hough Johnson, a reinsurance broker that also places business in a number of niche insurance lines.
CFC adds property damage to large line cyber product
CFC has added property damage to its large corporate cyber proposition, stating the move came in response to broker demand and addressed a gap in the market.
Business Property Relief changes – mitigating the impact on owner-managed brokers
In the first of a three-part series focused on the fallout from the 2024 Labour Budget, Stephen Kenny, head of private client at PKF Littlejohn, outlines the changes to Business Property Relief and how broker-owners should consider responding.
Pen boosts capacity with QBE in £420m deal package
Pen Underwriting has extended its partnership with QBE in the UK and Ireland, renewing capacity for public authority risks as well as the hazardous goods and environmental industries.