Insurer - insuranceage.co.uk
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en-gbPolicy Expert targets doubling within five years, says CEO Steve HardyPolicy 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. https://www.insuranceage.co.uk/insight/7950626/policy-expert-targets-doubling-within-five-years-says-ceo-steve-hardy
https://www.insuranceage.co.uk/insight/7950626/policy-expert-targets-doubling-within-five-years-says-ceo-steve-hardyWed, 10 Aug 2022 12:57:41 +0100Aviva UK sees COR deteriorate and operating profit slipAviva 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. https://www.insuranceage.co.uk/insurer/7950636/aviva-uk-sees-cor-deteriorate-and-operating-profit-slip
https://www.insuranceage.co.uk/insurer/7950636/aviva-uk-sees-cor-deteriorate-and-operating-profit-slipWed, 10 Aug 2022 12:56:58 +0100Registration opens for 2022 Dive In festival Diversity initiative Dive In has opened registration for its 2022 festival as it calls on the insurance industry to build braver cultures. https://www.insuranceage.co.uk/voices/7950596/registration-opens-for-2022-dive-in-festival
https://www.insuranceage.co.uk/voices/7950596/registration-opens-for-2022-dive-in-festivalWed, 10 Aug 2022 12:49:03 +0100C-Quence adds excess D&O productDigital managing general agent C-Quence has added excess D&O to its financial lines product range. https://www.insuranceage.co.uk/insurer/7950631/c-quence-adds-excess-do-product
https://www.insuranceage.co.uk/insurer/7950631/c-quence-adds-excess-do-productWed, 10 Aug 2022 12:28:19 +0100FOI reveals scale of FCA investigation into leaseholder insuranceA Freedom of Information request by Insurance Age has revealed that the Financial Conduct Authority has held 59 meetings, 10 workshops, engaged Deloitte as a consultant and had up to 31 employees working on its ongoing investigation into multi-occupancy buildings insurance. https://www.insuranceage.co.uk/insight/7950581/foi-reveals-scale-of-fca-investigation-into-leaseholder-insurance
https://www.insuranceage.co.uk/insight/7950581/foi-reveals-scale-of-fca-investigation-into-leaseholder-insuranceTue, 09 Aug 2022 14:04:06 +0100Chaucer’s head of insurance insists the industry must be more inclusive for womenThe head of insurance at Chaucer, Xamira Groves, has told insurance Age that there is “plenty more” to be done with women taking on roles in the insurance industry. https://www.insuranceage.co.uk/insurer/7950561/chaucers-head-of-insurance-insists-the-industry-must-be-more-inclusive-for-women
https://www.insuranceage.co.uk/insurer/7950561/chaucers-head-of-insurance-insists-the-industry-must-be-more-inclusive-for-womenMon, 08 Aug 2022 17:24:58 +0100GWP up but profit and COR deteriorate for Allianz HoldingsAllianz Holdings has posted a drop in profit of 42%, from £170m to £99m for the first half of 2022. https://www.insuranceage.co.uk/insight/7950446/gwp-up-but-profit-and-cor-deteriorate-for-allianz-holdings
https://www.insuranceage.co.uk/insight/7950446/gwp-up-but-profit-and-cor-deteriorate-for-allianz-holdingsFri, 05 Aug 2022 11:34:28 +0100Voice your views on commercial linesTake part in Insurance Age's Broker Satisfaction Survey to share your opinions on service provided by insurers in commercial lines. https://www.insuranceage.co.uk/data-and-rankings/7950426/voice-your-views-on-commercial-lines
https://www.insuranceage.co.uk/data-and-rankings/7950426/voice-your-views-on-commercial-linesFri, 05 Aug 2022 10:49:44 +0100People Moves: 1-5 August 2022Stay informed of the top personnel changes in insurance. https://www.insuranceage.co.uk/insight/7950196/people-moves-1-5-august-2022
https://www.insuranceage.co.uk/insight/7950196/people-moves-1-5-august-2022Fri, 05 Aug 2022 09:27:06 +0100FCA warns of W.F. Fountain cloneThe Financial Conduct Authority has warned of a clone using the name William Fountain Insurance Brokers. https://www.insuranceage.co.uk/insurer/7950366/fca-warns-of-wf-fountain-clone
https://www.insuranceage.co.uk/insurer/7950366/fca-warns-of-wf-fountain-cloneThu, 04 Aug 2022 10:45:07 +0100RSA posts UK underwriting lossRSA has revealed a £12m underwriting loss for UK business in the first six months of 2022. https://www.insuranceage.co.uk/insight/7950371/rsa-posts-uk-underwriting-loss
https://www.insuranceage.co.uk/insight/7950371/rsa-posts-uk-underwriting-lossThu, 04 Aug 2022 10:34:40 +0100TDI Academy launches scholarships for women in insurance The Digital Insurer has announced it will provide fully paid scholarships to support the development of women leaders in the insurance industry. https://www.insuranceage.co.uk/insurer/7950316/tdi-academy-launches-scholarships-for-women-in-insurance
https://www.insuranceage.co.uk/insurer/7950316/tdi-academy-launches-scholarships-for-women-in-insuranceThu, 04 Aug 2022 10:01:42 +0100Insurers flag climate change concern following UK heatwave Insurers have pledged to focus efforts on reducing climate change and called on the industry to be better prepared for weather events. https://www.insuranceage.co.uk/insurer/7950311/insurers-flag-climate-change-concern-following-uk-heatwave
https://www.insuranceage.co.uk/insurer/7950311/insurers-flag-climate-change-concern-following-uk-heatwaveThu, 04 Aug 2022 09:53:52 +0100Amanda Blanc joins BP boardBP has announced the appointment to its board of Amanda Blanc as a non-executive director. https://www.insuranceage.co.uk/people/7950301/amanda-blanc-joins-bp-board
https://www.insuranceage.co.uk/people/7950301/amanda-blanc-joins-bp-boardWed, 03 Aug 2022 10:48:43 +0100Pandemic Re – no meetings with Treasury since MarchA Freedom of Information request by Insurance Age has revealed that HM Treasury has held just three meetings with the Pandemic Re steering group since the onset of the coronavirus crisis. https://www.insuranceage.co.uk/insight/7950256/pandemic-re-no-meetings-with-treasury-since-march
https://www.insuranceage.co.uk/insight/7950256/pandemic-re-no-meetings-with-treasury-since-marchWed, 03 Aug 2022 10:17:26 +0100Aviva strikes Azur HNW deal after exclusive talksAviva has penned a deal to buy Azur Underwriting’s high net worth personal lines business in the UK and Ireland. https://www.insuranceage.co.uk/insight/7950261/aviva-strikes-azur-hnw-deal-after-exclusive-talks
https://www.insuranceage.co.uk/insight/7950261/aviva-strikes-azur-hnw-deal-after-exclusive-talksTue, 02 Aug 2022 16:32:11 +0100Seventeen Group snaps up Bryce Smith & Partners Seventeen Group has completed the purchase of London-based Bryce Smith & Partners for an undisclosed sum. https://www.insuranceage.co.uk/insurer/7950246/seventeen-group-snaps-up-bryce-smith-partners
https://www.insuranceage.co.uk/insurer/7950246/seventeen-group-snaps-up-bryce-smith-partnersTue, 02 Aug 2022 12:02:55 +0100Experts warn of ‘huge threat’ and no ‘get out of jail’ card in FCA lettersCompliance specialists have urged brokers to take heed of the Financial Conduct Authority’s latest pair of letters on fair value in general insurance. https://www.insuranceage.co.uk/insight/7950241/experts-warn-of-huge-threat-and-no-get-out-of-jail-card-in-fca-letters
https://www.insuranceage.co.uk/insight/7950241/experts-warn-of-huge-threat-and-no-get-out-of-jail-card-in-fca-lettersTue, 02 Aug 2022 11:47:08 +0100Jensten buys MGA OriginThe Jensten Group has bought SME specialist managing general agent Origin UW for an undisclosed sum. https://www.insuranceage.co.uk/insight/7950231/jensten-buys-mga-origin
https://www.insuranceage.co.uk/insight/7950231/jensten-buys-mga-originTue, 02 Aug 2022 10:29:46 +0100Clear buys GSI Commercial ServicesClear Group has bought GSI Commercial Services in its first deal to complete since Goldman Sachs invested in the broker last month. https://www.insuranceage.co.uk/broker/7950236/clear-buys-gsi-commercial-services
https://www.insuranceage.co.uk/broker/7950236/clear-buys-gsi-commercial-servicesTue, 02 Aug 2022 10:29:00 +0100FCA letter sets out scale of watchdog’s fair value assessment frustrationsThe Financial Conduct Authority has revealed one-in-three insurance manufacturers are leaving fair value assessments to the last minute causing a risk of harm to consumers. https://www.insuranceage.co.uk/insight/7950206/fca-letter-sets-out-scale-of-watchdogs-fair-value-assessment-frustrations
https://www.insuranceage.co.uk/insight/7950206/fca-letter-sets-out-scale-of-watchdogs-fair-value-assessment-frustrationsMon, 01 Aug 2022 15:24:52 +0100Property pricing up 6% in Q2Insurance pricing in the UK increased by 11% in the second quarter of the year but this was down on the 20% rise in Q1 of 2022, according to the latest research by Marsh. https://www.insuranceage.co.uk/insurer/7950191/property-pricing-up-6-in-q2
https://www.insuranceage.co.uk/insurer/7950191/property-pricing-up-6-in-q2Mon, 01 Aug 2022 12:03:08 +0100Brokers given three months ‘forbearance’ as FCA hits out at insurer fair value delay failuresThe Financial Conduct Authority has criticised insurers’ timings on product governance and fair value assessments ahead of the 30 September deadline for them to be in place as it gave brokers a three-month extension under specific circumstances. https://www.insuranceage.co.uk/insight/7950186/brokers-given-three-months-forbearance-as-fca-hits-out-at-insurer-fair-value-delay-failures
https://www.insuranceage.co.uk/insight/7950186/brokers-given-three-months-forbearance-as-fca-hits-out-at-insurer-fair-value-delay-failuresMon, 01 Aug 2022 11:32:34 +0100Blog: Why tripartite partnerships are key in the professional indemnity marketAs the professional indemnity market continues to be beset by ever more challenges Nic Brown, of Markel UK, explains why the successful placement or renewal of cover now, more than ever, relies on strong partnerships between insurer, broker and insured. https://www.insuranceage.co.uk/voices/7949631/blog-why-tripartite-partnerships-are-key-in-the-professional-indemnity-market
https://www.insuranceage.co.uk/voices/7949631/blog-why-tripartite-partnerships-are-key-in-the-professional-indemnity-marketFri, 29 Jul 2022 09:15:35 +0100People Moves: 25-29 July 2022Stay informed of the top personnel changes in insurance. https://www.insuranceage.co.uk/insight/7950011/people-moves-25-29-july-2022
https://www.insuranceage.co.uk/insight/7950011/people-moves-25-29-july-2022Fri, 29 Jul 2022 09:08:00 +0100Biba welcomes FCA’s decision on Consumer Duty timescale The British Insurance Brokers’ Association has welcomed the decision to give firms a 12-month window to implement the requirements for the new Consumer Duty. https://www.insuranceage.co.uk/insight/7950131/biba-welcomes-fcas-decision-on-consumer-duty-timescale
https://www.insuranceage.co.uk/insight/7950131/biba-welcomes-fcas-decision-on-consumer-duty-timescaleThu, 28 Jul 2022 13:27:01 +0100Spring launches SME cyber coverSpring Insure has launched a commercial cyber offering tailored for small and medium sized enterprises. https://www.insuranceage.co.uk/insurer/7950116/spring-launches-sme-cyber-cover
https://www.insuranceage.co.uk/insurer/7950116/spring-launches-sme-cyber-coverThu, 28 Jul 2022 10:28:29 +0100Consumer Duty timeline ambitious but achievable, says FCAThe Financial Conduct Authority has explained its decision to switch from a proposed implementation period ending 30 April 2023 to one ending 31 July 2023 as it revealed the timetable for its new Consumer Duty regulations. https://www.insuranceage.co.uk/insight/7950041/consumer-duty-timeline-ambitious-but-achievable-says-fca
https://www.insuranceage.co.uk/insight/7950041/consumer-duty-timeline-ambitious-but-achievable-says-fcaWed, 27 Jul 2022 09:10:44 +0100FCA confirms 12-month implementation for Consumer DutyThe Financial Conduct Authority has confirmed a 12-month implementation period for its new Consumer Duty which will come into force on 31 July 2023. https://www.insuranceage.co.uk/insight/7950036/fca-confirms-12-month-implementation-for-consumer-duty
https://www.insuranceage.co.uk/insight/7950036/fca-confirms-12-month-implementation-for-consumer-dutyWed, 27 Jul 2022 00:05:00 +0100IFB flags 17% increase in number of people being added to Insurance Fraud RegisterThe Insurance Fraud Bureau has warned that more than 5,000 people were added to the Insurance Fraud Register in the past 12 months. https://www.insuranceage.co.uk/personal/7950031/ifb-flags-17-increase-in-number-of-people-being-added-to-insurance-fraud-register
https://www.insuranceage.co.uk/personal/7950031/ifb-flags-17-increase-in-number-of-people-being-added-to-insurance-fraud-registerTue, 26 Jul 2022 15:58:45 +0100GRP achieves deal century with Woodward Markwell Insurance Brokers buyGlobal Risk Partners has reached its 100th deal and purchased the GI book of Ipswich-based Woodward Markwell Insurance Brokers for an undisclosed sum. https://www.insuranceage.co.uk/insurer/7950016/grp-achieves-deal-century-with-markwell-insurance-brokers-buy
https://www.insuranceage.co.uk/insurer/7950016/grp-achieves-deal-century-with-markwell-insurance-brokers-buyTue, 26 Jul 2022 11:11:48 +0100UK General up for sale againUK General’s latest filing at Companies House has revealed the personal lines specialist, which lost £9.13m in nine months up to 30 March 2021, is up for sale. https://www.insuranceage.co.uk/insight/7949996/uk-general-up-for-sale-again
https://www.insuranceage.co.uk/insight/7949996/uk-general-up-for-sale-againMon, 25 Jul 2022 17:30:50 +0100Concern raised over low rate of conduct reporting for GI staffGI businesses in the UK reported just 662 staff, including three senior managers, to the regulator for conduct breaches in 2021 according to a Freedom of Information request by Sicsic Advisory. https://www.insuranceage.co.uk/regulation/7949961/concern-raised-over-low-rate-of-conduct-reporting-for-gi-staff
https://www.insuranceage.co.uk/regulation/7949961/concern-raised-over-low-rate-of-conduct-reporting-for-gi-staffMon, 25 Jul 2022 11:38:20 +0100Beazley delivers improved COR but profits down on investment returnsBeazley has reported an improved combined operating ratio of 87% for the first half of 2022, from 94% delivered in the same period last year. https://www.insuranceage.co.uk/insight/7949926/beazley-delivers-improved-cor-but-profits-down-on-investment-returns
https://www.insuranceage.co.uk/insight/7949926/beazley-delivers-improved-cor-but-profits-down-on-investment-returnsFri, 22 Jul 2022 11:15:41 +0100People Moves: 18-22 July 2022Stay informed of the top personnel changes in insurance. https://www.insuranceage.co.uk/people/7949741/people-moves-18-22-july-2022
https://www.insuranceage.co.uk/people/7949741/people-moves-18-22-july-2022Fri, 22 Jul 2022 09:47:59 +0100Car insurance premiums up 6% in the last 12 months The cost of comprehensive car insurance rose by £32 in the last 12 months, according to research by Confused and WTW. https://www.insuranceage.co.uk/insurer/7949901/car-insurance-premiums-up-6-in-the-last-12-months
https://www.insuranceage.co.uk/insurer/7949901/car-insurance-premiums-up-6-in-the-last-12-monthsThu, 21 Jul 2022 12:38:09 +0100Chancellor hails planned repeal of EU financial lawsThe current Chancellor of the Exchequer, Nadim Zahawi, has pledged that laws will be changed under the newly-published Financial Services and Markets Bill. https://www.insuranceage.co.uk/regulation/7949886/chancellor-hails-planned-repeal-of-eu-financial-laws
https://www.insuranceage.co.uk/regulation/7949886/chancellor-hails-planned-repeal-of-eu-financial-lawsThu, 21 Jul 2022 11:21:32 +0100Allianz names Ashish Patel as COOAllianz Holdings has appointed Ashish Patel as chief operating officer after Stephanie Smith left at the end of 2021. https://www.insuranceage.co.uk/insight/7949846/allianz-names-ashish-patel-as-coo
https://www.insuranceage.co.uk/insight/7949846/allianz-names-ashish-patel-as-cooWed, 20 Jul 2022 15:42:02 +0100FSB flags small firms' concerns on price of insurance Small firms are encountering widespread problems in their dealings with the insurance market and rising premium costs, a new report has found. https://www.insuranceage.co.uk/insurer/7949841/fsb-flags-small-firms-concerns-on-price-of-insurance
https://www.insuranceage.co.uk/insurer/7949841/fsb-flags-small-firms-concerns-on-price-of-insuranceWed, 20 Jul 2022 12:40:32 +0100Drop in insurance pricing complaints at FOSThe Financial Ombudsman Service has highlighted a 33.4% fall in complaints about insurance pricing in 2021/22. https://www.insuranceage.co.uk/insight/7949836/drop-in-insurance-pricing-complaints-at-fos
https://www.insuranceage.co.uk/insight/7949836/drop-in-insurance-pricing-complaints-at-fosWed, 20 Jul 2022 11:55:27 +0100HSB creates new commercial division HSB UK and Ireland, part of Munch Re, has bought together its business development, customer trading and claims areas under a newly created commercial division. https://www.insuranceage.co.uk/insurer/7949791/hsb-creates-new-commercial-division
https://www.insuranceage.co.uk/insurer/7949791/hsb-creates-new-commercial-divisionTue, 19 Jul 2022 12:20:39 +0100Jensten buys Ravenhall Risk Solutions The Jensten Group has acquired Leeds-based broker Ravenhall Risk Solutions for an undisclosed sum. https://www.insuranceage.co.uk/insurer/7949786/jensten-buys-ravenhall-risk-solutions
https://www.insuranceage.co.uk/insurer/7949786/jensten-buys-ravenhall-risk-solutionsTue, 19 Jul 2022 11:04:11 +0100Insurtech MGAs – alive and kickingInsurtech MGAs are winning over brokers and even though it may be a case of ‘horses for courses’ the arrival of a range of new providers, including within commercial lines, is creating welcome competition. Rachel Gordon learns more. https://www.insuranceage.co.uk/technology/7949116/insurtech-mgas-alive-and-kicking
https://www.insuranceage.co.uk/technology/7949116/insurtech-mgas-alive-and-kickingTue, 19 Jul 2022 09:39:39 +0100RSA launches new domestic abuse policy for staffRSA has delivered a new domestic abuse policy to support employees who may be suffering as victims of domestic abuse. https://www.insuranceage.co.uk/people/7949736/rsa-launches-new-domestic-abuse-policy-for-staff
https://www.insuranceage.co.uk/people/7949736/rsa-launches-new-domestic-abuse-policy-for-staffMon, 18 Jul 2022 11:49:56 +0100Experts warn clients will look elsewhere if brokers ignore parametric insuranceSpecialists 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. https://www.insuranceage.co.uk/insight/7949721/experts-warn-clients-will-look-elsewhere-if-brokers-ignore-parametric-insurance
https://www.insuranceage.co.uk/insight/7949721/experts-warn-clients-will-look-elsewhere-if-brokers-ignore-parametric-insuranceMon, 18 Jul 2022 11:22:50 +0100Blog: How brokers can make the most of claims relationship managersAllianz’s Kay Bagley analyses the opportunities for brokers in working closely with claims relationship managers looking at how to build partnerships that add value and deliver excellent customer outcomes. https://www.insuranceage.co.uk/voices/7949446/blog-how-brokers-can-make-the-most-of-claims-relationship-managers
https://www.insuranceage.co.uk/voices/7949446/blog-how-brokers-can-make-the-most-of-claims-relationship-managersMon, 18 Jul 2022 10:04:11 +0100In Depth: Insurtechs – brokers beware before before entering this sectorDoes the insurtech sector offer brokers a land of opportunity or is it more about style over substance? Rachel Gordon reports. https://www.insuranceage.co.uk/technology/7949111/in-depth-insurtechs-brokers-beware-before-before-entering-this-sector
https://www.insuranceage.co.uk/technology/7949111/in-depth-insurtechs-brokers-beware-before-before-entering-this-sectorFri, 15 Jul 2022 14:04:45 +0100Biba continues partner push with Arch InsuranceArch Insurance has joined the British Insurance Brokers’ Association as a partner following in the footsteps of recent additions Covéa Insurance and Travelers Europe. https://www.insuranceage.co.uk/broker/7949716/biba-continues-partner-push-with-arch-insurance
https://www.insuranceage.co.uk/broker/7949716/biba-continues-partner-push-with-arch-insuranceFri, 15 Jul 2022 12:07:44 +0100Ripe grows turnover in 2021 with profits stableRipe Thinking has reported a 24% rise in turnover to £23.27m for 2021. https://www.insuranceage.co.uk/insight/7949711/ripe-grows-turnover-in-2021-with-profits-stable
https://www.insuranceage.co.uk/insight/7949711/ripe-grows-turnover-in-2021-with-profits-stableFri, 15 Jul 2022 12:04:18 +0100People Moves: 11-15 July 2022Stay informed of the top personnel changes in insurance. https://www.insuranceage.co.uk/people/7949531/people-moves-11-15-july-2022
https://www.insuranceage.co.uk/people/7949531/people-moves-11-15-july-2022Fri, 15 Jul 2022 10:15:26 +0100
