Insight
Truss’s mooted regulation merger plan derided
Former business secretary, Vince Cable, has attacked Liz Truss’s rumoured plan to merge the Financial Conduct Authority, Prudential Regulation Authority and Payment Systems Regulator.
Two-fifths of London businesses at risk of flash flooding
Research by Zurich has revealed that two-fifths of London businesses are at risk of being hit by flash floods as heavy rainfall is predicted to hit the capital.
Jensten flags healthy acquisition pipeline
CEO Alistair Hardie said the organisation has a series of deals in play following its buy of J. Bennett & Sons but warned that the Financial Conduct Authority can be slow to approve acquisitions.
People Moves: 15-19 August 2022
Keeping you up to date with the top personnel changes in insurance.
Markel adapts charity and community groups product
Markel has doubled the income threshold at which charities and community groups can access its cover via its eTrade facility from £1m to £2m.
Zurich UK appoints Sam Thomas as head of retail underwriting
Zurich UK has named Sam Thomas, who is currently head of mid-market, as head of retail underwriting, Insurance Age can reveal.
Stubben Edge buys Genesis Special Risks
Stubben Edge has announced two strategic developments which have been designed to expand its capabilities for IFAs and brokers, Insurance Age can reveal.
Smyth flags M&A opportunity following UK General deal
UK General is planning to grow via M&A, new products and bring in fresh teams following investment by RCapital and Montague according to CEO Tim Smyth.
Jensten makes fourth deal in a month
The Jensten Group has acquired J. Bennett & Son Insurance Brokers and its Oxford-based subsidiary, Mathews Comfort & Co, for an undisclosed sum.
Private equity duo buys UK General plus Precision Partnership
UK General has been acquired by Montague and RCapital Partners from Primary Group for an undisclosed sum.
Experts warn that cost of living crisis could increase ghost broking cases
The sky-rocketing cost of living and the longer term economic effects of the pandemic could lead to an increase in ghost broking, experts have warned.
LV issues fire and subsidence warning amid heatwave
LV Insurance has warned that the claims for heat and fire have increased due to the extreme weather the UK is currently experiencing.
Biba adds eSentire as associate
The British Insurance Brokers' Association has added eSentire as an associate to offer members support on cybersecurity.
Top 5 read stories: 8-12 August 2022
The top five most read stories by brokers this week.
People Moves: 8-12 August 2022
Keeping you up to date with the latest insurance moves.
MGAs rising up GRP’s buying plans
The takeover of Global Risk Partners by Brown & Brown has enhanced GRP’s ability to buy managing general agents as well as strengthening the pipeline for deals with brokers that did not want to be under private equity ownership, according to CEO Mike…
Movo signs agency deal with CNA
Broker network Movo Partnership has added CNA to its panel of capacity providers.
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.
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.
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.
C-Quence adds excess D&O product
Digital managing general agent C-Quence has added excess D&O to its financial lines product range.
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…
GRP-owned Newstead promotes Sarah Giles to managing director
Newstead Insurance Brokers has named Sarah Giles as managing director as part of a leadership restructure.
Tribunal overturns CMA Most Favoured Nation clauses ruling and £17.9m Compare The Market fine
A Competition Appeal Tribunal has overturned a decision by the Competition and Markets Authority which was set to fine Compare the Market £17.9m for breaking competition rules on use of Most Favoured Nation clauses.