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Insurer - en-gb 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. Wed, 10 Aug 2022 12:57:41 +0100 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. Wed, 10 Aug 2022 12:56:58 +0100 Registration 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. Wed, 10 Aug 2022 12:49:03 +0100 C-Quence adds excess D&O product Digital managing general agent C-Quence has added excess D&O to its financial lines product range. Wed, 10 Aug 2022 12:28:19 +0100 FOI reveals scale of FCA investigation into leaseholder insurance A 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. Tue, 09 Aug 2022 14:04:06 +0100 Chaucer’s head of insurance insists the industry must be more inclusive for women The 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. Mon, 08 Aug 2022 17:24:58 +0100 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. Fri, 05 Aug 2022 11:34:28 +0100 Voice your views on commercial lines Take part in Insurance Age's Broker Satisfaction Survey to share your opinions on service provided by insurers in commercial lines. Fri, 05 Aug 2022 10:49:44 +0100 People Moves: 1-5 August 2022 Stay informed of the top personnel changes in insurance. Fri, 05 Aug 2022 09:27:06 +0100 FCA warns of W.F. Fountain clone The Financial Conduct Authority has warned of a clone using the name William Fountain Insurance Brokers. Thu, 04 Aug 2022 10:45:07 +0100 RSA posts UK underwriting loss RSA has revealed a £12m underwriting loss for UK business in the first six months of 2022. Thu, 04 Aug 2022 10:34:40 +0100 TDI 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. Thu, 04 Aug 2022 10:01:42 +0100 Insurers 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. Thu, 04 Aug 2022 09:53:52 +0100 Amanda Blanc joins BP board BP has announced the appointment to its board of Amanda Blanc as a non-executive director. Wed, 03 Aug 2022 10:48:43 +0100 Pandemic Re – no meetings with Treasury since March A 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. Wed, 03 Aug 2022 10:17:26 +0100 Aviva strikes Azur HNW deal after exclusive talks Aviva has penned a deal to buy Azur Underwriting’s high net worth personal lines business in the UK and Ireland. Tue, 02 Aug 2022 16:32:11 +0100 Seventeen Group snaps up Bryce Smith & Partners Seventeen Group has completed the purchase of London-based Bryce Smith & Partners for an undisclosed sum. Tue, 02 Aug 2022 12:02:55 +0100 Experts warn of ‘huge threat’ and no ‘get out of jail’ card in FCA letters Compliance specialists have urged brokers to take heed of the Financial Conduct Authority’s latest pair of letters on fair value in general insurance. Tue, 02 Aug 2022 11:47:08 +0100 Jensten buys MGA Origin The Jensten Group has bought SME specialist managing general agent Origin UW for an undisclosed sum. Tue, 02 Aug 2022 10:29:46 +0100 Clear buys GSI Commercial Services Clear Group has bought GSI Commercial Services in its first deal to complete since Goldman Sachs invested in the broker last month. Tue, 02 Aug 2022 10:29:00 +0100 FCA letter sets out scale of watchdog’s fair value assessment frustrations The 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. Mon, 01 Aug 2022 15:24:52 +0100 Property pricing up 6% in Q2 Insurance 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. Mon, 01 Aug 2022 12:03:08 +0100 Brokers given three months ‘forbearance’ as FCA hits out at insurer fair value delay failures The 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. Mon, 01 Aug 2022 11:32:34 +0100 Blog: Why tripartite partnerships are key in the professional indemnity market As 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. Fri, 29 Jul 2022 09:15:35 +0100 People Moves: 25-29 July 2022 Stay informed of the top personnel changes in insurance. Fri, 29 Jul 2022 09:08:00 +0100 Biba 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. Thu, 28 Jul 2022 13:27:01 +0100 Spring launches SME cyber cover Spring Insure has launched a commercial cyber offering tailored for small and medium sized enterprises. Thu, 28 Jul 2022 10:28:29 +0100 Consumer Duty timeline ambitious but achievable, says FCA The 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. Wed, 27 Jul 2022 09:10:44 +0100 FCA confirms 12-month implementation for Consumer Duty The Financial Conduct Authority has confirmed a 12-month implementation period for its new Consumer Duty which will come into force on 31 July 2023. Wed, 27 Jul 2022 00:05:00 +0100 IFB flags 17% increase in number of people being added to Insurance Fraud Register The Insurance Fraud Bureau has warned that more than 5,000 people were added to the Insurance Fraud Register in the past 12 months. Tue, 26 Jul 2022 15:58:45 +0100 GRP achieves deal century with Woodward Markwell Insurance Brokers buy Global Risk Partners has reached its 100th deal and purchased the GI book of Ipswich-based Woodward Markwell Insurance Brokers for an undisclosed sum. Tue, 26 Jul 2022 11:11:48 +0100 UK General up for sale again UK 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. Mon, 25 Jul 2022 17:30:50 +0100 Concern raised over low rate of conduct reporting for GI staff GI 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. Mon, 25 Jul 2022 11:38:20 +0100 Beazley delivers improved COR but profits down on investment returns Beazley has reported an improved combined operating ratio of 87% for the first half of 2022, from 94% delivered in the same period last year. Fri, 22 Jul 2022 11:15:41 +0100 People Moves: 18-22 July 2022 Stay informed of the top personnel changes in insurance. Fri, 22 Jul 2022 09:47:59 +0100 Car 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. Thu, 21 Jul 2022 12:38:09 +0100 Chancellor hails planned repeal of EU financial laws The current Chancellor of the Exchequer, Nadim Zahawi, has pledged that laws will be changed under the newly-published Financial Services and Markets Bill. Thu, 21 Jul 2022 11:21:32 +0100 Allianz names Ashish Patel as COO Allianz Holdings has appointed Ashish Patel as chief operating officer after Stephanie Smith left at the end of 2021. Wed, 20 Jul 2022 15:42:02 +0100 FSB 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. Wed, 20 Jul 2022 12:40:32 +0100 Drop in insurance pricing complaints at FOS The Financial Ombudsman Service has highlighted a 33.4% fall in complaints about insurance pricing in 2021/22. Wed, 20 Jul 2022 11:55:27 +0100 HSB 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. Tue, 19 Jul 2022 12:20:39 +0100 Jensten buys Ravenhall Risk Solutions The Jensten Group has acquired Leeds-based broker Ravenhall Risk Solutions for an undisclosed sum. Tue, 19 Jul 2022 11:04:11 +0100 Insurtech MGAs – alive and kicking Insurtech 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. Tue, 19 Jul 2022 09:39:39 +0100 RSA launches new domestic abuse policy for staff RSA has delivered a new domestic abuse policy to support employees who may be suffering as victims of domestic abuse. Mon, 18 Jul 2022 11:49:56 +0100 Experts warn clients will look elsewhere if brokers ignore parametric insurance Specialists 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. Mon, 18 Jul 2022 11:22:50 +0100 Blog: How brokers can make the most of claims relationship managers Allianz’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. Mon, 18 Jul 2022 10:04:11 +0100 In Depth: Insurtechs – brokers beware before before entering this sector Does the insurtech sector offer brokers a land of opportunity or is it more about style over substance? Rachel Gordon reports. Fri, 15 Jul 2022 14:04:45 +0100 Biba continues partner push with Arch Insurance Arch Insurance has joined the British Insurance Brokers’ Association as a partner following in the footsteps of recent additions Covéa Insurance and Travelers Europe. Fri, 15 Jul 2022 12:07:44 +0100 Ripe grows turnover in 2021 with profits stable Ripe Thinking has reported a 24% rise in turnover to £23.27m for 2021. Fri, 15 Jul 2022 12:04:18 +0100 People Moves: 11-15 July 2022 Stay informed of the top personnel changes in insurance. Fri, 15 Jul 2022 10:15:26 +0100