Unrated insurers
Analysis: Is the era of offshore capacity over, or is it poised for a comeback?
High profile casualties such as Gibraltar-based Enterprise Insurance Company (2016), and Danish providers Alpha (2018) and Gefion (2021) meant offshore capacity came under scrutiny at the end of the last decade. Today there appears to be less noise about similar players which begs the question are these overseas carriers no longer a factor? Or are they on the comeback trail? Saxon East investigate
Analysis: The inflation challenge
The ever-increasing rate of inflation in the UK and certainty of more to come has led to warnings of challenges for brokers and insurers alike with issues ranging from difficult conversations on premium rises to underinsurance and the prospect of turning…
Analysis: Gefion collapse highlights risks of unrated capacity
Niche brokers say they have no choice but to use unrated insurers as compliance experts call for a change of the "unfair" FSCS levy system after the scheme steps in to pay claims following Gefion's bankruptcy.
FSCS declares unrated Gefion has failed
The troubled Danish insurer, which sold motor policies via brokers and MGAs in the UK, went into liquidation last year after its insurance license was withdrawn by the Danish regulator.
Top 10 tips: Considering insurer financial security
Biba’s Mike Hallam outlines some key strategies for brokers to help them assess the financial strength of providers.
Broker Exchange: Hard market issues exacerbated by "rowing back"of local decision making
Local decision making is being eroded as a result of the hard market, viewers of the first panel session of Broker Exchange heard.
Alpha administrators in legal dispute with UK taxi broker
The case relates to premiums of over £3.9m collected by the broker before the unrated Danish insurer failed in 2018.
Bollington has five deals in the pipeline as it gears up for growth
Group CEO Paul Moors chats to Insurance Age about the broker’s Watson Laurie deal, future growth plans and cutting ties with Gefion.
Liquidators appointed for Gefion Insurance
The unrated provider recently went into solvent liquidation after the Danish regulator withdrew its insurance license.
Gefion enters liquidation after it loses insurance license
The troubled Danish provider says it is "disappointed" after Danish regulator refuses three-month extension to its recovery period forcing it into run-off.
Blog: PI under pressure
The evolving PI landscape presents significant challenges not just for insureds, but their brokers and insurers as well, says Danny French of Aqueous Underwriting.
Staveley Head-linked Policyplan goes into run-off
One Sure which, bought the rights to the Staveley Head brand in April, has agreed to manage the Policyplan run-off.
Troubled Staveley Head sold by administrators
Stoke-on-Trent broker One Sure Insurance has bought the Wales broker which collapsed earlier this year.
Danish regulator orders Gefion to stop writing business
The unrated Danish motor provider says it "strongly disagrees" with the order and adds it has continued its capital raising efforts as it seeks to comply with its solvency capital requirement.
Freedom Services loses 30 staff amid restructure
However, its MGA Pukka is now live with fresh capacity following Gefion exit.
Bollington cuts ties with Gefion
Bollington suspends trading with the unrated Danish insurer, which has been providing capacity for its MGA, Anjuna Underwriting, since 2017.
The Blog Spot: Do you remember when a broker last went bust?
The sad fall of Staveley Head causes Siân Barton to pause and ask ‘when did this last happen to a broker?'
Major insurers respond to Staveley Head collapse
Staveley Head, which was mainly backed by unrated provider Gefion, advertised major composites on its website. Most of these confirmed only a handful of policies with the broker.
Gefion disputes claims from administrator after Staveley Head collapse
Danish provider says it "takes issue" with claims that it had prematurely ended its contract with Staveley Head, causing the broker to go into administration.
Directors of bust Staveley Head paid themselves £600k in 2019
Ashley Peters and Martin Tyler also reorganised the collapsed firm and its share capital. As part of the reorganisation, it became a wholly-owned subsidiary of Gelert Group and a £2m dividend was paid to Gelert. Policy Plan also paid £8m to Gelert.
Former Gefion and Qudos user Staveley Head goes into administration
Move follows solvency issues at the broker’s main insurer as administrator initiates fire sale and says majority of Staveley Head's 85 staff have been made redundant.