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General Insurance newsletter Friday 11th July 2025

​​Insurance NewsUnlocking AI's potential in professional services: insights from experts - In IDEX Consulting’s latest AI event experts share key advice on how to get started with AI, practical adoption strategies, how to mitigate ethical risks and most importantly how to engage teams throughout the AI journey. Watch the event recap video for simple but effective advice. (IDEX Consulting news, 'Unlocking AI's potential in professional services: insights from experts')The future insurer and MGA partnership- What will the MGA and insurer relationship look like in the future? And how can they work together to drive innovation, growth and new products and services for customers. Read IDEX Consulting’s article on the insurer and MGA model. (IDEX Consulting news, 'The future insurer and MGA partnership')How to attract top risk and compliance talent - With an increased number of cyber attacks, it’s paramount that insurers continue to implement robust security measures, including; multi-factor authentication, regular cyber hygiene training, and comprehensive incident response plans. Specialist risk and compliance talent can help with this, learn how to attract the best in the market. (IDEX Consulting news, 'How to attract top risk and compliance talent')How IDEX Consulting can support your growth ambitions - Looking to grow your business into new territories, product lines, or perhaps you just need to optimise efficiencies? IDEX Consulting have a team of experts with over 150 combined years of experience enabling businesses to reach their growth goals. Learn what solutions they offer. (IDEX Consulting news, 'How IDEX Consulting can support your growth ambitions')Domestic & General (D&G) reported strong 2024 financial results, with a 13.5% rise in adjusted EBITDA to £162 million, driven by a 6% revenue increase to £1.2 billion, robust UK subscription retention (86%), and significant US growth, where the customer base nearly tripled to 284,000 and subscription revenue more than tripled, achieving profitability ahead of expectations. (Kenneth Araullo, 11/7/2025, Insurance Business, 'D&G highlights US expansion and strong UK core in 2024 results')The British Insurance Brokers’ Association (BIBA) reported a 6% rise in operational turnover to £8.5 million in 2024, alongside increased member engagement through initiatives like recruitment support, mental wellbeing services, and a talent program, while event participation grew significantly, including a 7% rise in attendance at The BIBA Conference 2024. (Josh Recamara, 11/7/2025, Insurance Business, 'BIBA reports revenue growth and increased member activity')Aon has launched the Data Center Lifecycle Insurance Programme, offering up to $1.5 billion in integrated coverage for construction risks, operational property damage, and business interruption, addressing the growing complexity of data center projects driven by AI and cloud infrastructure. (Jonalyn Cueto, 10/7/2025, Insurance Business, 'Aon unveils new data centre insurance programme')Four individuals, aged 17-20, were arrested in connection with ransomware attacks on Marks & Spencer, Harrods, and Co-op, causing £300 million in damages and triggering a £100 million cyber insurance claim led by Allianz and Beazley, highlighting growing cyber threats to insurers and businesses. (Matthew Sellers, 10/7/2025, Insurance Business, 'Four arrested in M&S cyber case as insurers confront expanding digital threat')Close Brothers Group is exiting personal lines insurance lending, focusing solely on commercial lines, severing ties with brokers in personal lines, and reducing its premium finance loan book by 30% over three years, aiming for £20 million in annual cost savings amidst regulatory scrutiny and a pivotal Supreme Court case. (Matthew Sellers, 9/7/2025, Insurance Business, 'Close Brothers dumps brokers in shock retreat from personal lines')Acrisure has completed the rebranding of Universalis to Acrisure Portugal Insurance Broker after a two-year integration, retaining its leadership, operational model, and client relationships while continuing to serve over 25,000 clients across 12 offices in Portugal. (Rod Bolivar, 9/7/2025, Insurance Business, 'Acrisure finalises Portugal rebrand of Universalis')The ISC Group has launched "The Circle of Influence," an exclusive, invitation-only network for women leaders in insurance, aimed at fostering collaboration, enhancing boardroom impact, and driving industry change through workshops, strategic advice, and curated experiences. (Jonalyn Cueto, 9/7/2025, Insurance Business, 'ISC Group launches exclusive network for women leaders in insurance')Markel Insurance has launched pre-incident services for Cyber360 policyholders in the UK, including legal consultations, privacy policy reviews, and cyber risk assessment tools, to enhance preparedness for cyber threats and ensure compliance with data regulations. (Rod Bolivar, 9/7/2025, Insurance Business, 'Markel rolls out cyber support services')Aon's 2025 Global Construction Insurance and Surety Market Report highlights a "cautiously optimistic" outlook as demand grows for infrastructure, energy, and high-tech projects. However, macroeconomic challenges, climate risks, and liability concerns create a bifurcated market, with lower-risk projects benefiting from favourable terms while higher-risk ones face stricter conditions and rising premiums. (Matthew Sellers, 8/7/2025, Insurance Business, 'Insurers "cautiously optimistic" as global construction booms – Aon')According to Insuramore, the global insurance broking market reached $180 billion in fees and commissions in 2024, an 8.1% increase from the previous year, driven by M&A activity and growth in reinsurance and wholesale broking. The top 15 broking groups, led by Marsh McLennan, Aon, and Gallagher, now control 48.7% of the market, reflecting ongoing consolidation. (Jonalyn Cueto, 7/7/2025, Insurance Business, 'Global insurance broking market hits US$180bn')Howden has partnered with Lawrence Stephens to launch a first-of-its-kind crypto theft insurance solution, combining insurance coverage with legal asset recovery services. The offering integrates legal expertise, forensic recovery, and access to cryptocurrency vendors, addressing the growing risks of digital asset theft. This innovative service aims to provide end-to-end support for clients navigating the complexities of the crypto ecosystem. (Jonayln Cueto, 7/7/2025, Insurance Business, 'Howden partners up to launch crypto theft insurance solution')Artificial intelligence is transforming the insurance industry, moving from reactive processes to predictive and continuous risk management, according to insights from industry leaders like AllDigital Specialty Insurance and Swiss Re. AI is enabling faster decision-making, enhanced underwriting, and real-time collaboration, while also driving productivity gains of up to 20%, as noted in reports by McKinsey and Deloitte. However, experts emphasise the need for robust governance and upskilling to ensure AI remains a powerful assistant rather than a replacement. (Matthew Sellers, 7/7/2025, Insurance Business, 'Not just a tool – a transformation': How AI is rewriting the insurance playbook')​Mergers and AcquisitionsPIB Group has decided to step back from acquisition talks, including advanced discussions with Gallagher, and instead secured £400 million in debt financing to support its growth across Europe. This move ends a strategic review by private equity sponsors Apax Partners and The Carlyle Group, who had initially explored a sale. PIB plans to focus on organic and acquisitive growth, leveraging its strong cash flow and acquisition track record to expand its position as a leading independent insurance broker in Europe. (Matthew Sellers, 10/7/2025, Insurance Business, 'Gallagher jilted in PIB acquisition')JMG Group has acquired Profile Insurance Services, marking its 50th acquisition since its 2020 management buyout; the London-based brokerage, known for its high-net-worth and commercial client base, will retain operational independence while benefiting from JMG’s centralised support and resources. (Rod Bolivar, 10/7/2025, Insurance Business, 'JMG Group completes acquisition of Profile Insurance Services')Barnett Waddingham has acquired specialist consultancy Risk Evolves to enhance its advisory services in cyber security, data privacy, ESG, and regulatory compliance. The acquisition formalises a long-standing partnership, integrating Risk Evolves' team into BW and strengthening its position in the professional services sector. (Jonalyn Cueto, 8/7/2025, Insurance Business, 'Barnett Waddingham bolsters risk and resilience with key acquisition')According to WTW's Quarterly Deal Performance Monitor, Europe and Asia-Pacific are leading global M&A activity in 2025, with European acquirers outperforming their index by 9.4 percentage points and Asia-Pacific buyers by 3.9 points. In contrast, North America continues to face a slump, with deal volumes down 55% over four years. Globally, 339 deals over $100 million were completed in the first half of 2025, reflecting resilience despite geopolitical and economic volatility. (Jonalyn Cueto, 7/7/2025, Insurance Business, 'Europe and Asia-Pacific outpace North America in global M&A uptick')Athora Holding has announced the acquisition of Pension Insurance Corporation Group (PICG) for £5.7 billion, marking a significant expansion into the UK market. PIC will become Athora’s UK insurance subsidiary, retaining its brand and focus on the defined benefit pension market. The deal, supported by institutional investors like Apollo Global Management and ADIA, will enable PIC to grow its pension risk transfer business and invest further in UK housing and infrastructure. The transaction is expected to close in early 2026, pending regulatory approval. (Josh Recamara, 7/7/2025, Insurance Business, 'Athora Holding acquires Pension Insurance Corporation Group for £5.7 billion')Movers​Allianz Commercial has confirmed two permanent UK leadership appointments: Graham Stait, with over 17 years at Allianz in claims, operations, and trading, is now Director UK Markets, overseeing mid-market distribution, trading performance, and broker engagement; and Luke Baker, with nearly 25 years of experience in broking and underwriting, is appointed Director UK Global and UK Branch Manager of Allianz Global Corporate & Specialty SE, bringing expertise in large corporate risks and international markets. (Josh Recamara, 11/7/2025, Insurance Business, 'Insurance moves: Allianz, Reassured and Everest')Everest Insurance International has named Mark Shaw as its Chief Commercial Officer. Shaw, who joined the company in 2022, brings over 20 years of experience in underwriting, distribution, and commercial strategy. In his new role, he will lead the firm's international distribution strategy, strengthen broker and client relationships, and oversee the growth of the distribution leadership team. (Josh Recamara, 11/7/2025, Insurance Business, 'Insurance moves: Allianz, Reassured and Everest')Liberty Specialty Markets (LSM) is entering the UK high net worth (HNW) insurance market, appointing Benjamin Faerestrand, a 15-year industry veteran with experience at Chubb and as an Art and Private Client Development Underwriter, as HNW Household Underwriter to develop a Lloyd’s-based proposition, focusing on bespoke coverage for high-value assets, broker relationships, and cross-border client needs. (Josh Recamara, 11/7/2025, Insurance Business, 'Liberty Specialty Markets to enter the HNW market')McLarens has appointed Danny Miller as Chief Global Strategy Officer, a new role focused on strategic planning, M&A opportunities, and enterprise initiatives; with over 30 years of experience in insurance and loss adjusting, Miller will support McLarens’ global growth and innovation efforts. (Jonalyn Cueto, 10/7/2025, Insurance Business, 'McLarens names Danny Miller as chief global strategy officer')Arch Capital Group has appointed Ondine Bourrut Lacouture as the new Active Underwriter of Arch Syndicate 1955 at Lloyd’s, succeeding Simon Williams, who remains Chief Strategy and Distribution Officer for Arch Insurance International, as the syndicate’s stamp capacity has grown over threefold since its 2019 acquisition. (Kenneth Araullo, 10/7/2025, Insurance Business, 'Insurance moves: Arch, ERS, Broadstone')ERS has promoted Chris Wilson to Head of Fleet and Commercial Motor, consolidating both business lines under his leadership; Wilson, who joined in 2014 and developed the fleet underwriting function, will now also oversee the commercial portfolio, including transportation, courier, and specialist vehicle segments. (Kenneth Araullo, 10/7/2025, Insurance Business, 'Insurance moves: Arch, ERS, Broadstone')Broadstone has appointed Rob Kerry as Actuarial Director in its insurance, regulatory, and risk division; with over four decades of experience, including as Chief Actuary at Utmost Life and Pensions, Kerry’s addition strengthens Broadstone’s capabilities in regulated roles, with-profits, product development, and M&A advisory work following its acquisition of BPA specialist ExactVAL. (Kenneth Araullo, 10/7/2025, Insurance Business, 'Insurance moves: Arch, ERS, Broadstone')Liberty Specialty Markets has appointed Pierre-Edouard Fraigneau as President of Europe, effective September 1, succeeding Kadidja Sinz, who will retire in late 2025; Fraigneau, instrumental in Liberty’s Invest in Europe 2030 strategy, brings over 20 years of industry experience, including roles at AIG and Sanlam. (Jonalyn Cueto, 9/7/2025, Insurance Business, 'Insurance moves: Liberty Specialty Markets, Ceta Insurance, CFC')Digital niche personal lines broker Ceta Insurance has appointed Mark Chappell as Head of Intermediary; previously with TMG Mortgage Network, Chappell brings expertise in strategic partnerships and sales, aligning with Ceta’s goal to expand its broker-focused general insurance offerings in the growing wholesale market. (Jonalyn Cueto, 9/7/2025, Insurance Business, 'Insurance moves: Liberty Specialty Markets, Ceta Insurance, CFC')United Risk has launched Applied Affinity Underwriters to expand warranty and affinity insurance services across Europe and the UK. Headquartered in Stockholm, the new entity will offer consumer-focused policies, including accident, sickness, travel, and gadget protection, in partnership with Aviva Insurance Ireland DAC. The leadership team includes Anna Clarving as CEO, bringing 18+ years of experience in European and Nordic insurance markets, and Fredrik Müntzing as Chief Underwriting Officer, specialising in technical product underwriting and distribution innovation. (Jonalyn Cueto, 8/7/2025, Insurance Business, 'United Risk launches new affinity underwriter arm')Liberty Global Transaction Solutions (Liberty GTS), a division of Liberty Mutual Insurance, has announced two new regional heads within its EMEA operations. Nick Lunn has been appointed Head of the UK, Central and Eastern Europe, Middle East, and Africa, while Barbara Magni takes on the role of Head of Southern Europe. Lunn, who joined Liberty GTS in 2020, previously led the Southern Europe team and brings experience from WTW, underwriting roles, and a background as a Corporate Lawyer. He will also continue to lead Liberty GTS’ EMEA tax team. Magni, with Liberty GTS since 2016, has extensive experience in M&A transactions across Southern Europe and will remain based in Milan. (Josh Recamara, 7/7/2025, Insurance Business, 'Insurance moves: Mosaic, Liberty GTS and Open GI')Open GI has named Andy Brockway as Chief Technology Officer. Formerly CTO at Confused.com and Retail Insight, Brockway brings over 20 years of tech leadership experience. He will lead Open GI’s technology growth following its £8.5 million investment in 2023. (Josh Recamara, 7/7/2025, Insurance Business, 'Insurance moves: Mosaic, Liberty GTS and Open GI')​All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting

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Unlocking AI's potential in professional services: insights from experts

​Integrating AI tools effectively and upskilling teams are no longer options but necessities for businesses aiming to thrive. IDEX Consulting hosted an event, 'AI: The drive for growth and productivity in the professional services market,' which explored the key components for successful AI adoption and integration, how to mitigate unethical implications and importantly, how to engage teams throughout the change journey.Expert Insights from the front lines of AI adoptionHosted by Paul Davey, Managing Director of General Insurance, and Emma Delli-Bovi, Business Director, Legal at IDEX Consulting, the event brought together a distinguished panel of speakers: Richard Nicholas, Partner, AI and Digital Law at Browne Jacobson; John McClelland, Distribution Officer at C-Quence; Martin Robert Hall, Leadership Coach and Greg Williams, Automation and AI Analyst at C-Quence. Our experts delved into the intricacies of AI adoption, offering practical advice and real-life examples.Watch our recap video where speakers provide simple yet strategic advice on how to get started, how to manage successful adoption and the key risks to watch out for.For a recap on what was covered during the event, check out the below summary. How to get started with AIFor many, the first question is, "How do we even begin with AI?" Our speakers emphasised a foundational approach:Conduct a business review: Start by identifying gaps and opportunities within your existing processes. Where can systematic activities be optimised? Where could automation significantly enhance customer service, team productivity, and overall efficiency? The goal is to free up your team to focus on strategic, revenue-generating projects that fully utilise their skills.Establish a governance structure: Appointing a central person responsible and accountable for AI implementation is crucial. This provides a clear point of contact for troubleshooting, solution-finding, and managing the overall adoption strategy. Risk management and clear joint-responsibility for AI-driven decisions are invaluable for successful integration.Embrace continuous testing and learning: AI tools are constantly evolving. Teams must commit to continuous learning through A/B testing, trialling different platforms, and seeking guidance from data and technology experts. This iterative approach is key to improving and enhancing products and services.Where AI can have the biggest impact Automating manual and repeatable tasks: The insurance sector, in particular, is seeing success in using AI for claims processing, underwriting, and broker submissions. Greg Williams of C-Quence advised starting with small, manageable AI projects and gradually expanding.Data aggregation and analysis: AI excels at quickly and accurately analysing large datasets. It boasts powerful advantages in pattern recognition, identifying subtle correlations across disparate datasets that human analysis might miss. Machine learning algorithms can also extract meaningful insights from unstructured text and detect non-linear relationships between variables.How to bring teams along the journey One of the biggest hurdles to AI integration is often employee resistance. Our speakers offered valuable strategies to overcome this:Adopt a bottom-up approach: Often, the best ideas for AI implementation come from those on the ‘shop floor’ who are directly involved in the work. Empowering employees to identify opportunities where AI can positively impact their job and the customer experience leads to greater buy-in.Resist a dictatorial approach: Top-down enforcement of AI adoption often leads to resentment. Leaders should instead gather feedback, involve teams actively, and encourage them to lead the change.Cultivate a culture of ideation and change: Encourage employees to ask questions and share ideas on how products, services, and workflows can be improved. Support a culture where individuals feel empowered to challenge norms and think differently.Empower employees through collaborative forums: Set up specific sessions and diverse focus groups to foster an environment where sharing new ideas is encouraged and prioritised. Ensure these groups are diverse in terms of seniority, job discipline, gender identification, age, and culture to promote balanced perspectives.Showcase success stories: ‘Seeing is believing’ - present clear case studies and live demonstrations of how AI has benefited teams, the business, and customers.Implement iterative rollouts: Avoid trying to automate everything at once, which can overwhelm teams and introduce errors. AI implementation should be an iterative process with continuous feedback.Grant control and encourage experimentation: People naturally fear the unknown. Encourage gradual experimentation with AI for small wins and tasks, allowing employees to feel in control and excited by changes and improvements. Prioritise diversity: A lack of diverse perspectives in the change process can derail implementation. Ensure a mix of skills, job roles, experience, gender, and culture to drive effective change across the business.The role leaders play Effective leadership is paramount for successful AI adoption.Lead by example: Leaders' mindsets about change significantly influence how others perceive it. Authenticity, transparency, and a willingness to be vulnerable and make mistakes are crucial. It’s important for leaders to show vulnerability to encourage others to feel comfortable in expressing their concerns and challenges. Reduce fear: A common fear is that AI will replace jobs. Demonstrating how AI augments operational activities, makes tasks easier, and provides real-life success stories will help to reduce some concerns. Incentivise adoption: Use gamification and incentives to encourage AI adoption. Reward desired behaviours and ensure employees feel comfortable reporting back on their experiences without the fear of feeling like they are ‘cheating’.Empower advocates: Build a group of peer advocates who can shape a positive narrative around AI adoption, influencing the pace of change and fostering comfort among colleagues.Navigating responsible AI deployment The event also touched upon the broader societal implications of AI, particularly in regulated industries like law:Legal accountability remains: As Richard Nicholas highlighted, existing laws still apply to AI usage in legal practices. Lawyers remain responsible for the accuracy of information, regardless of AI assistance, and are accountable for any incorrect data.Robust governance is essential: Implement strong governance structures and build fact-checking into standard practice. Since AI doesn't inherently possess a concept of truth, human oversight is always necessary to mitigate risks.What AI won't replace Crucially, the panel emphasised what AI, at its current stage, cannot replace emotional intelligence and human interaction, although AI may be able to simulate empathy it cannot genuinely feel emotions. Human connections are built on shared emotional experiences and authentic responses. The therapeutic value of human empathy involves true mutual understanding rooted in lived human experience, which AI lacks. Human moral intuition, shaped by embodied emotional responses, differentiates human ethical decisions from those that an AI tool can make. If you’d like more information on the event, topic or are interested in attending similar future events, get in contact with Paul Davey, General Insurance Managing Director and / or Emma Delli-Bovi, Legal Business Director who will be happy to support.

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General Insurance newsletter Friday 4th July 2025

​​Insurance NewsIDEX Salary Calculator: Is it time for a pay rise? - Use the data from our free salary calculator to arm yourself with accurate market benchmarks that you can use to influence your employer. (IDEX Consulting news, 'IDEX Salary Calculator: Is it time for a pay rise?')Beat your competitors with a compelling sustainability strategy - Building a sustainability strategy is essential for businesses to attract talent, meet investor expectations, and adapt to regulatory demands. Key steps include aligning with the UN sustainability goal framework, avoiding greenwashing, and embedding sustainability into operations to drive resilience and long-term success. (IDEX Consulting news, 'Beat your competitors with a compelling sustainability strategy')Maximising MGA partnerships for future success - The MGA market is experiencing rapid growth, driven by demand for specialised insurance, technological advancements, and M&A activity. However, challenges like capacity constraints and regulatory compliance require MGAs to diversify capacity sources, embrace innovation, and maintain disciplined underwriting. (IDEX Consulting news, 'Maximising MGA partnerships for future success')Looking to hire? Here's how IDEX can help you - IDEX Consulting connects employers with top talent through a network of 70,000 professionals, leveraging advanced technology, market intelligence, and strategic marketing to deliver tailored recruitment solutions with a 98% long-term placement success rate. (IDEX Consulting news, 'Looking to hire? Here's how IDEX can help you')The UK's managing general agent (MGA) sector faces increasing pressure due to economic headwinds, regulatory scrutiny, and shifting risk appetites, while balancing innovation, underwriting discipline, and compliance to remain key players in the evolving insurance ecosystem, according to a report by Clyde & Co in collaboration with the Managing General Agents’ Association (MGAA). (Josh Recamara, 4/7/2025, Insurance Business, 'UK's MGA sector under pressure - report')The growing solar energy market presents new opportunities for insurance brokers, driven by increased capacity and lower pricing. However, challenges like extreme weather risks, supply chain tariffs, and the complexity of long-term investments require brokers to focus on resilience and tailored risk management, according to Jason Kaminsky, CEO of kWh Analytics.(Daniel Wood, 3/7/2025, Insurance Business, 'Solar farms and broker opportunities')A series of limpet mine attacks on oil tankers, suspected to target Russia's "shadow fleet," and Germany's new maritime insurance compliance checks have disrupted global shipping markets, driving up war risk premiums and tightening insurance terms amid heightened geopolitical tensions. (Matthew Sellers, 3/7/2025, Insurance Business, 'Limpet mine attack adds to insurer war risk chaos')Hiscox has launched the UK’s first affirmative AI liability cover, updating its Technology Professional Indemnity policy to address risks from AI use, including faulty outputs and third-party harm, while providing clear, explicit terms for emerging tech liabilities. (Manal Ali, 3/7/2025, Insurance Business, 'Hiscox launches first affirmative AI liability cover in UK market')In further news...Hiscox has launched a new Cargo API to streamline the placement of small cargo and stock throughput risks. Targeting SMEs, the digital solution allows brokers to quote and bind risks instantly, covering goods like clothing and equipment with limits up to $5 million. Developed in-house, the API addresses a market gap for smaller value cargo risks and is backed by Hiscox’s claims team. (Josh Recamara, 1/7/2025, Insurance Business, 'Hiscox launches new cargo API solution')Allianz Commercial has launched the CAReS platform to help businesses assess and mitigate climate risks, offering data-driven insights on 12 climate perils and projections across multiple timeframes to support long-term resilience planning. (Kenneth Araullo, 2/7/2025, Insurance Business, 'Allianz Commercial launches CAReS climate risk platform for businesses')MS Amlin has consolidated its brand under a single trading identity, unifying its global presence and simplifying engagement for brokers, partners, and clients, as part of a broader restructuring by parent firm Mitsui Sumitomo Insurance. (Kenneth Araullo, 2/7/2025, Insurance Business, 'MS Amlin consolidates brand under single trading identity')Affinity Brokers has rebranded as Acrisure UK Broking Limited, reflecting Acrisure’s strategy to unify its UK operations under a single identity and strengthen its brand presence. The Glasgow-based firm will continue serving clients locally, with no changes to staff or service levels, marking a milestone in its growth under the Acrisure structure. (Josh Recamara, 2/7/2025, Insurance Business, 'Affinity Brokers rebrands as Acrisure UK Broking Limited')MBC Insurance has rebranded as Clear Insurance Ireland, aligning with Clear Group’s strategy to consolidate its Irish operations under a unified brand. The move follows Clear Group’s acquisition of MBC in 2023 and aims to integrate services while maintaining local client relationships and continuity. (Josh Recamara, 2/7/2025, Insurance Business, 'MBC Insurance rebrands as Clear Insurance Ireland')Brokerslink has added Drivento and HWF Partners to its global network, enhancing expertise in innovation and transactional risk insurance. Drivento offers strategic consulting across multiple regions, while HWF specialises in transactional risk solutions, having advised on over 5,800 deals. These additions expand Brokerslink’s reach to 133 countries with over 45,000 professionals. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Brokerslink adds Drivento and HWF to boost global expertise')Lloyd’s has welcomed the US decision to withdraw Section 899 from its reconciliation bill, which would have significantly increased taxes on foreign insurers. The move, supported by G7-level agreements, ensures continued international investment and protects Lloyd’s operations in its largest market, the US. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Lloyd's welcomes US tax rollback that protects foreign insurers')Aon CEO Greg Case has called for $1 trillion in private capital over the next decade to address insurance gaps in natural disasters and cyber risks. With only a fraction of global losses currently insured, Aon is focusing on alternative capital, parametric solutions, and advanced analytics to meet rising demand and reduce volatility for clients. (Josh Recamara, 30/7/2025, Insurance Business, 'Aon CEO says $1 trillion in private capital needed to bridge insurance gaps')BIBA has released a new guide to help brokers understand and adopt AI in their operations. Developed with input from members and supported by Markel, the guide covers AI use cases, regulatory considerations, and practical insights. It emphasises ethical adoption and ongoing oversight while highlighting AI’s transformative potential in the insurance sector. (Josh Recamara, 30/7/2025, Insurance Business, 'BIBA releases new guide on AI')​Mergers and AcquisitionsActivate Group has acquired Avant Group, a UK-based collision repair specialist, to expand its accident management and repair operations. Backed by private equity firm Elysian Capital, the deal includes Avant’s three core units and integrates Bodynet’s digital tools to enhance efficiency. (Josh Recamara, 4/7/2025, Insurance Business, 'Activate Group buys UK-based collision repair specialist')Specialist Risk Group (SRG) has acquired Generation Underwriting, a Newcastle-based managing general agent, to enhance its regional underwriting capabilities in property, liability, and fleet, integrating the business into its MX division while retaining its local market focus. (Josh Recamara, 3/7/2025, Insurance Business, 'Specialist Risk Group buys Generation Underwriting')HSBC has agreed to sell its UK life insurance unit, HSBC Life (UK), to Chesnara for £260 million as part of its global streamlining strategy, focusing on core banking and Asia. The deal, expected to complete in early 2026, will add £4 billion in assets under administration and 454,000 policies to Chesnara’s UK operations. (Insurance Business, 3/7/2025, 'HSBC sells UK life unit to Chesnara amid global streamlining strategy')Aviva’s £3.7 billion acquisition of Direct Line has received final approval from the CMA. The deal will double Aviva’s UK motor insurance market share, with plans to retain Direct Line’s brands while restructuring operations and leadership to achieve £125 million in annual cost synergies. (Kenneth Araullo, 1/7/2025, Insurance Business, 'Aviva's Direct Line takeover clears final hurdle with CMA nod')AXA has sold its investment unit, AXA Investment Managers, to BNP Paribas for €5.1 billion, forming a €1.5 trillion asset management entity. The deal includes a long-term partnership for investment services and is expected to generate a €2.2 billion net income gain for AXA, despite a €0.4 billion annual earnings reduction. BNP Paribas aims to expand in private markets through this acquisition. (Kenneth Araullo, 1/7/2025, Insurance Business, 'AXA sells investment unit to BNP Paribas in strategic asset shift')The Ardonagh Group has secured a $2.5 billion equity investment led by Stone Point Capital, valuing the company at $14 billion. The funds will support global expansion, M&A activity, and technology initiatives like Ardonagh Intelligence. Formed in 2017, Ardonagh now places $18 billion in gross written premiums annually across multiple markets. (Josh Recamara, 1/7/2025, Insurance Business, 'Ardonagh Group completes $2.5 billion equity investment')Movers​Arch Insurance International has appointed Stephen Convery as Senior Construction Underwriter to strengthen its global construction portfolio, bringing over 18 years of experience in the construction insurance market, including a similar role at SCOR. (Kenneth Araullo, 3/7/2025, Insurance Business, 'Insurance hires: Arch, Ki')Ki has appointed Jacques Bonneau as Non-Executive Chair of Ki Financial Limited, effective July 1, bringing extensive leadership experience from roles such as President and CEO of PartnerRe, Group Chief Underwriting Officer at Chubb, and Senior Adviser to the Bermuda Monetary Authority, alongside current non-executive positions with Brit Re and Novel. (Kenneth Araullo, 3/7/2025, Insurance Business, 'Insurance hires: Arch, Ki')Aviva has finalised its merger with Direct Line Group, unveiling a new leadership team led by Jason Storah, CEO of the combined businesses, who brings extensive experience as CEO of Aviva UK & Ireland General Insurance. Owen Morris has been appointed CEO of UK personal lines, overseeing both Aviva and Direct Line’s personal lines businesses.(Kenneth Araullo, 2/7/2025, Insurance Business, 'Aviva confirms new leadership team after Direct Line merger')CFC has appointed Ian McLean as Chief Technology Officer. With experience as Chief Product and Technology Officer at Pollinate and senior roles at Covéa, UnderwriteMe, and Validis, McLean will lead CFC’s technology roadmap, focusing on AI-driven underwriting and operational scalability. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')Aspen Insurance Holdings has appointed Mariza Costa as Head of Investor Relations, a newly created role. With over 20 years of experience, including positions at Everest Group, AM Best, and Allianz, Costa will manage Aspen’s investor, analyst, and rating agency relationships, while supporting shareholder communications and strategic insights. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')Legal and insurance advisory firm HF has appointed eight new partners across restructuring, employment, catastrophic injury, property, cyber consultancy, and credit hire, following CBPE’s 2024 investment. Notable appointments include Peter Crewe (restructuring & insolvency), Gareth Matthews (employment), Claire Dinoff and Mark Dunn (catastrophic injury), Steven Smith (property), Matthew Stanton (casualty), Craig Kennedy (cyber consultancy), and Melanie Mooney (credit hire), each bringing specialised expertise to their roles. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')The UK P&I Club has announced two senior promotions in its safety & risk management division. Ansuman Ghosh, who joined the Club in 2018 and has held various technical and operational roles, becomes Director of Engineering, focusing on maritime technology transitions and decarbonisation. Akshat Arora, now Regional Loss Prevention Director for Singapore, will lead efforts in the Asia-Pacific region, building on his extensive experience in loss prevention. These roles aim to help members address regulatory changes and emerging risks like cyber security and sustainability. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')ISC Group, the global network championing women in insurance, has appointed Huw Evans, Partner and Head of Insurance at KPMG UK, as its first male ambassador. Evans, who has advised on regulatory and climate-related risks and held industry leadership roles, will support ISC’s mission to promote gender balance and inclusive leadership in insurance and financial services. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')Conrad Wong, Chief Commercial Officer of Nova Insurance Consultants in Hong Kong and Managing Director of its Beijing operations, has joined the board of directors of Brokerslink, a global broking network. Wong’s international experience is expected to enhance collaboration across the network. His appointment follows the retirement of long-serving Nova CEO Patrick Chan, whose contributions to the Asia-Pacific insurance industry were recognised by Brokerslink President and CEO José Manuel Fonseca. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')Liberty Specialty Markets has appointed Niala Butt as Head of Casualty Claims for the UK. With 28 years of experience, including roles at CNA Hardy, Butt will oversee the casualty claims team, focusing on operational efficiency and stakeholder engagement. This appointment follows recent leadership changes and reflects LSM’s commitment to diversity and evolving client needs. (Josh Recamara, 1/7/2025, Insurance Business, 'Liberty Specialty Markets names head of casualty claims for UK')​All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting

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What does nuclear fusion energy mean for insurers?

The global pursuit of clean, abundant energy has brought nuclear fusion from the realm of science fiction closer to commercial reality. As the prospect of operational nuclear fusion reactors in the 2030s looms, a compelling call is being made to insurers across the industry to actively back this transformative technology. This isn't merely about new business opportunities, it's about enabling a future energy source with profound implications for climate change, energy security, and economic stability.Is fusion energy safer?Nuclear fusion, the process that powers the sun and stars, involves fusing light atomic nuclei together to release immense amounts of energy. Unlike nuclear fission, which currently powers nuclear plants, fusion reactions do not produce any long-lived radioactive waste. The source relies on readily available fuels like deuterium, abundant in seawater, and tritium which future plants can produce themselves.Crucially, fusion is considered an inherently safe method for power generation. If perurbation occurs, the fusion reaction simply stops, effectively turning itself off. This makes a meltdown scenario, as seen in fission reactors, practically impossible. Experts state that the safety profile of a fusion plant is similar to coal plants, rather than nuclear fission plants, a misconception which needs to be understood across the insurance market. The development of fusion technologyScientists in over 50 countries who have been researching nuclear fusion, have made significant breakthroughs recently, with the development of various machine designs that use powerful magnetic fields and lasers.Bringing fusion energy to life depends on global teamwork and quickly developing new technologies. Institutes will also need to build the right support systems and ensure appropriate safety standards are in place. The ITER project in France, a large-scale international nuclear fusion research and engineering project which began assembly in 2020, will run its first experiments soon. The goal is to prove fusion works for electricity, aiming for full power by 2036. Many experts believe fusion power plants could be in operation by 2050, with private companies even pushing for earlier deployment.UK and US governments leading the charge UK and US Governments are making significant investments to accelerate fusion's development. The UK, for instance, is positioning nuclear fusion as a cornerstone of its industrial strategy, allocating over “£2.5 billion over 5 years to lead the global race for fusion energy, with the STEP [Spherical Tokamak for Energy Production] programme at its core…It aims to deliver a prototype fusion power plant by 2040 at West Burton, Nottinghamshire (Gov.UK: Fusion energy powers UK’s industrial strategy).Similarly, the US is a major player in private-sector fusion investment, leading the way alongside China. Total private investment in global fusion development has increased considerably over the past year, demonstrating growing confidence in its commercial viability. Further US investment is projected to reach $1.5 billion, with the country actively fostering private sector involvement and commercialisation (Nuclear business platform: Top 3 fusion energy players).What does this mean for insurers?Despite the compelling advantages and significant investment, the insurance industry faces a unique challenge in underwriting nuclear fusion. The primary hurdle lies in deeply ingrained perceptions and outdated policy exclusions designed for nuclear fission. “Many developers who are now building pilot and demonstration sites, find themselves subject to policy exclusions that assume persistent decay heat, chain reactions and multi-year spent fuel storage. As a result of this, legacy nuclear-risk clauses drive up insurance premiums, forcing additional capital outlays during the costliest phases—construction and initial operation, especially for first-of-a-kind risks” (Fusion energy insights: Affirmative Insurance Coverage for Fusion, 3 key insights).This blanket approach can lead to inflated premiums and contractual limitations, burdening pilot and demonstration projects with unnecessary capital outlays during the costly phases of development and initial deployment. The Lloyd's Market Association's 2023 revision (LMA5621), for example, retains broad restrictions on all nuclear activities, hindering insurers from providing tailored coverage for fusion's distinct risk profile.As Tim Dodwell, Chief Executive at DigiLab, notes, "We have to accept that fusion is a game of extrapolation, as we scale it up to the size of the reactor that we want. This is much more an engineering risk” (Insurance Times: Insurers urged to back nuclear fusion as commercial viability nears).The complexity of the technology maks determining precise scientific and operational risks, and therefore the appropriate cost of cover for initial constructions, a challenging exercise for insurers.How can insurers respond?The call for insurers to proactively engage with nuclear fusion is growing louder. They are being urged to move beyond fission-era exclusions and embrace affirmative insurance coverage that accurately prices fusion's unique risks. As detailed in Newfront’s (global insurance company) insights piece ‘Affirmative insurance coverage for fusion: 3 key insights’, this includes:Eliminating blanket nuclear exclusions: Replacing meltdown-based triggers with data-driven modelling for partial-load plasma tests and other relevant fusion failure modes.Incorporating lower radiological risk: Acknowledging the short half-lives of activated material and minimal risk of large-scale releases, unlike fission fuel rods.Capturing ancillary industrial exposures: Addressing high-voltage systems, vacuum handling, thermal loops, and specialised tritium-processing lines under standard property and casualty policies.Some major players are already stepping up. Chubb CEO, Evan Greenberg has described next-generation nuclear as an "opportunity hiding in plain sight...[pointing] to the benefits of carbon-neutral power generated by nuclear plants as demand for electricity grows amid an expansion of cloud computing and generative artificial intelligence” (E&E news: Chubb CEO on oil and gas), affirming a willingness to insure it. Munich Re have also expressed interest, “adapting coverage for advanced plants” (Fusion energy insights: Affirmative Insurance Coverage for Fusion, 3 key insights), if clear liability frameworks exist. Surplus lines markets in the US and Bermuda are also exploring first-of-a-kind solutions.For brokers and MGAs, this presents a significant opportunity to be at the forefront of a new, potentially vast market. They will need to work closely with fusion developers and insurers to craft bespoke policies, educate clients on the distinct risk profiles of fusion, and navigate the evolving regulatory landscape. The UK government itself is actively "exploring ways to offer insurance for fusion energy plants at a competitive and fair price," indicating a recognition of insurance as a key enabler (Power Engineering: Fusion and Fission central to UK’s clean energy industrial strategy).Nuclear fusion energy presents substantial opportunities for insurers, where they can unlock new underwriting avenues, contribute to clean energy, and position themselves at the heart of what could become the world's dominant power source. The future of energy, and with it, a significant new market for insurance, hinges on the development of this powerful new source.​Sources:E&E news: Chubb CEO on oil and gasFusion energy insights: Affirmative Insurance Coverage for Fusion, 3 key insightsGov.UK: Fusion energy powers UK’s industrial strategyInsurance Times: Insurers urged to back nuclear fusion as commercial viability nearsNuclear business platform: Top 3 fusion energy playersPower Engineering: Fusion and Fission central to UK’s clean energy industrial strategy

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Financial Services newsletter Friday 27th June 2025

​​Financial Services NewsWealth manager Quilter reported a 200% year-on-year rise in Lifestyle Trusts in 2024, driven by upcoming inheritance tax changes affecting pensions from 2027, prompting clients to restructure wealth and seek tax-efficient solutions. (Financial Planning Today, 25/6/2025, 'Lifestyle Trust numbers rise 200% following IHT shake-up'Manchester-based Pareto Financial Planning reported a 30% rise in new business for the year ending March 2025, fuelled by significant growth in its employee benefits division, which has become a key driver of the firm's expansion. (Financial Planning Today, 25/6/2025, 'Employee benefits drives growth for Pareto FP')AJ Bell has launched "Touch," a streamlined platform designed to help financial advisers implement investment advice more efficiently. The platform features open banking integration, secure messaging, and digital approval tools, aiming to reduce administrative burdens and bridge the advice gap for clients with lower asset values. (Financial Planning Today, 24/6/2025, 'AJ Bell launches streamlined Touch platform')The FCA has announced a focus on "proportionate regulation" in its new 5-year strategy, aiming to simplify rules, reduce outdated requirements, and ease the regulatory burden on smaller firms. This includes reviewing unnecessary data collections and streamlining frameworks to better align with firms' business models. (Financial Planning Today, 19/6/2025, 'FCA to focus on 'proportionate' regulation')Four women CEOs in financial services have been recognised in the King's Birthday Honours List. Debbie Crosbie, CEO of Nationwide, received a damehood; Ruth Handcock, CEO of Octopus Money, was awarded an OBE; Michelle Scrimgeour, former CEO of LGIM, earned a CBE; and Tiina Lee, CEO of Citi UK, also received a CBE for their contributions to the sector. (Financial Planning Today, 16/6/2025, 'Women financial services CEOs awarded King's honours')A study by Capital Group reveals that 27% of high-net-worth (HNW) millennials prefer seeking investment guidance from social media and "finfluencers" over financial advisers (18%). Despite this, 65% of Gen X and millennial inheritors regret their inheritance decisions, with many wishing they had invested more. The research highlights a growing reliance on non-traditional advice sources and the challenges of succession planning. (Financial Planning Today, 13/6/2025, 'HNW millennials prefer finfluencers to advisers')Nine Wealth Management, a Welsh Financial Planning firm and St. James's Place partner, has achieved Chartered Firm status from the Chartered Institute for Securities and Investment (CISI). This recognition highlights their commitment to professionalism, integrity, and client care in financial planning. (Financial Planning Today, 12/6/2025, 'Welsh SJP partner firm gains Chartered Firm status')Tatton Asset Management reported a 28.9% rise in pre-tax profits to £21.6m and a 24% increase in assets under management (AUM) to £21.83bn for the year ending March. The firm also saw a 13.8% growth in IFA firms and a 22% rise in client accounts. CEO Paul Hogarth highlighted strong progress despite market challenges and reaffirmed the goal of reaching £30bn AUM by FY29. (Financial Planning Today, 10/6/2025, 'Tatton profits and AUM climb by a quarter')Intelliflo has launched two new products: Intelliflo IQ, an AI-driven adviser-client relationship tool, and Intelliflo Video, a video integration service. These tools aim to enhance adviser efficiency, streamline financial planning, and improve client engagement. Intelliflo IQ includes AI-powered assistants for engagement and advice, while Intelliflo Video simplifies financial concepts through educational content. (Financial Planning Today, 10/6/2025, 'Intelliflo launches video and AI-driven advised client products')Counter-offers - the real truth behind the proposal - Before accepting a counter-offer, professionals should evaluate their reasons for resigning, consider the long-term impact on job satisfaction, compare career development opportunities, and seek impartial advice, as research shows most who accept counter-offers leave within a year due to unresolved issues. (IDEX Consulting news, 'Counter offers - the real truth behind the proposal')Time for a pay rise? Check your salary with our calculator - Compare your salary against market benchmarks with the IDEX Salary Calculator, designed for professionals in General Insurance and Financial Services. Discover how your earnings stack up against minimum, average, and maximum rates for your role and region, while accessing expert career advice and exploring new job opportunities. (IDEX Consulting news, 'Time for a pay rise? Check your salary with our calculator')Optimise the interview process to find the best hire - Smart hiring starts with mastering the interview process. Employers can improve outcomes by using structured frameworks, multi-method assessments, and diverse panels to reduce bias. Research shows structured approaches cut costs and improve hiring accuracy, while AI tools and active listening further enhance candidate selection. (IDEX Consulting news, 'Optimise the interview process to find the best hire')Financial Services M&A: tips from our experts - M&A activity remains strong, with sellers encouraged to act quickly to maximise sale value. Key strategies include planning exits early, ensuring financials are in order, and leveraging expert advice to navigate regulatory changes. The sooner firms can engage an M&A specialist to help them maximise their earn-out, and avoid unnecessary tax charges, the better. (IDEX Consulting news, 'Financial Services M&A: tips from our experts')Mergers and AcquisitionsWealth managers are shifting M&A strategies, focusing on cultural alignment and long-term value over rapid cost-cutting. SEI research shows 75% of deals aim for growth and scale, with 77% of firms planning acquisitions in 2025. However, only 32% of firms meet financial targets due to under-resourced integrations. (Momodou Musa Touray, 26/6/2025, Money Marketing, 'Wealth managers rethink strategy amid M&A surge')Fairstone has achieved its 100th Downstream Buy Out (DBO) milestone by acquiring Halifax-based Richardson Premier Wealth Ltd. This marks a key step in Fairstone's growth strategy, supporting over 60,000 clients and managing £20bn in assets. The DBO model offers firms operational support and phased earn-outs, with average payouts exceeding 120% of sale value. (Momodou Musa Touray, 26/6/2025, Money Marketing, 'Fairstone reaches 100th DBO milestone with Halifax IFA')Wren Sterling has acquired City Financial, a Scottish financial planner managing £700m in assets under management (AUM), doubling its presence in Scotland and strengthening its national footprint. (Financial Planning Today, 25/6/2025, 'Wren Sterling acquires £700m AUM Scottish Financial Planner')Manchester-based Chartered Financial Planning firm Suttons Independent Financial Advisors has acquired Bolton-based Whitewell Financial Planning, adding £40m in assets under management. This marks Suttons' third acquisition, enhancing its service offerings and expanding its client base while maintaining Whitewell's founder, Phil O’Connor, as the main client contact. (Financial Planning Today, 23/6/2025, 'Manchester-based Chartered Planner acquires Bolton firm')Openwork has acquired Milecross, a 100-adviser firm with £750m in assets under management, marking its first acquisition since receiving a £120m investment from Bain Capital. The deal supports Milecross's succession planning while maintaining its management team and strengthening Openwork's adviser network. (Financial Planning Today, 19/6/2025, 'Openwork acquires 100 adviser member firm')Shackleton, formerly the Skerritts Group, has been acquired by New York-based private equity firm Lee Equity Partners, succeeding Sovereign Capital Partners. Shackleton, managing £7.2bn in assets, aims to leverage this investment to expand its UK footprint and capitalise on industry consolidation. (Financial Planning Today, 17/6/2025, 'Shackleton taken over by New York private equity firm')Oakglen Wealth, a Jersey-based investment manager, has acquired Homebuyer Financial Services Limited for an undisclosed amount. This acquisition expands Oakglen's services to include comprehensive financial and retirement planning alongside its core wealth management offerings. Homebuyer's leadership will assist during the transition, ensuring continuity for clients. (Financial Planning Today, 10/6/2025, 'Oakglen Wealth acquires Jersey Financial Planning firm')Loyal North has acquired two South West financial advice firms, Blue House Financial Services and Lewins Investments, adding £80m in client funds. These firms will integrate into Loyal North's regional hub, Milsted Langdon Financial Planning, ensuring continuity of service and a client-first approach. (Financial Planning Today, 10/6/2025, 'Loyal North snaps up two South West firms')Frenkel Topping, a Salford-based financial adviser, is in talks over a £68m takeover bid from private equity firm Harwood. The offer includes a cash deal of 50p per share or an alternative mix of cash and shares in a new company. Shareholders opting for the latter can retain a final dividend. Harwood has until 30th June to formalise the bid. (Financial Planning Today, 2/6/2025, '£68m private equity bid for Frenkel Topping')​MoversFormer Treasury Director Kirstin Baker has been appointed interim Chair of The Pensions Regulator (TPR), effective from August 1, 2025, for up to nine months, succeeding Sarah Smart and bringing extensive experience from her roles in the civil service and regulatory bodies. (Financial Planning Today, 24/6/2025, 'New interim chair for The Pensions Regulator')TrinityBridge, formerly Close Brothers Asset Management, has appointed veteran Financial Planner Nigel Stockton as CEO, subject to regulatory approval. Stockton, who previously led Ascot Lloyd for eight years, overseeing 80 acquisitions and significant growth, succeeds Eddie Reynolds, under whose leadership managed assets rose from £16bn to £21bn and the firm rebranded under Oaktree Capital Management. (Financial Planning Today, 24/6/2025, 'TrinityBridge hires veteran Financial Planner as CEO')Hulya Gunay, formerly with Aegis Financial Planning and St. James’s Place, has joined Hoxton Wealth's UK team, focusing on cross-border financial planning. With experience as an expat and a commitment to achieving Chartered Financial Planner status, she aims to leverage Hoxton's global presence to serve internationally mobile clients. (Financial Planning Today, 19/6/2025, 'Former Aegis and SJP adviser joins Hoxton Wealth')Network ValidPath has appointed Roger Perry, formerly of Defaqto, to lead the expansion of its IFA proposition. With 20 years of experience driving the success of adviser software at Defaqto, Perry will focus on enhancing member services, developing provider relationships, and advancing technology and AI solutions to support IFAs. (Financial Planning Today, 19/6/2025, 'Validpath hires Defaqto’s Perry to spearhead growth')Ian Pickford, a Chartered Financial Planner and former CEO of Forvis Mazars Financial Planning, has been appointed as an independent Non-Executive Director at Fintel. With over 35 years of experience, he will focus on strategic development and chair the remuneration and nomination committees. (Financial Planning Today, 17/6/2025, 'Chartered Financial Planner becomes Fintel director')Brooks Macdonald has appointed former England rugby player Josh Lewsey as Group Strategy and Corporate Development Officer. With over 20 years in financial services, Lewsey brings experience from roles in private equity and Ernst & Young. He joins the executive team to align strategic goals with operational execution. (Financial Planning Today, 13/6/2025, 'Brooks adds ex-rugby pro to exec team')Stuart Coombe, a rural specialist Financial Planner at Old Mill, has been promoted to Partner. Joining in 2008, Coombe has developed expertise in advising rural businesses and individuals. He plans to mentor upcoming advisers while continuing to serve his clients. (Financial Planning Today, 11/6/2025, 'Old Mill promotes rural specialist Planner to partner')First Wealth has appointed Jess Biggs, formerly of Evelyn Partners, to lead its new sports and entertainment division. With extensive experience supporting elite clients in sports and entertainment, and a background in competitive sports, Biggs will provide tailored financial advice for clients with unique career challenges. (Financial Planning Today, 11/6/2025, 'Chartered Planner to launch sports and entertainment arm')Sarah Pritchard has been promoted to Deputy CEO of the FCA, a newly created role reflecting the regulator's expanding remit. Joining the FCA in 2021, Pritchard previously led its supervision, policy, and competition functions and has extensive experience in financial crime compliance, including roles at HSBC and the National Economic Crime Centre. (Financial Planning Today, 10/6/2025, 'Sarah Pritchard appointed deputy CEO of FCA')Andrew McGlone, CEO of Quilter Cheviot, will step down later this year after 31 years with the firm. Starting as a trainee, McGlone rose through the ranks to become CEO in 2019. He will be succeeded by John Goddard, a 29-year HSBC veteran, in September. (Financial Planning Today, 10/6/2025, 'Quilter Cheviot CEO to step down')Chris Pond, former Work and Pensions Minister, has been appointed Chair of the FCA's Financial Services Consumer Panel, succeeding Helen Charlton. With extensive experience in consumer and social justice issues, Pond aims to balance consumer protection with economic growth. (Financial Planning Today, 2/6/2025, 'New chair of FCA Financial Services Consumer Panel')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, and IDEX Consulting.

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General Insurance newsletter Friday 27th June 2025

​​Insurance NewsWhat does nuclear fusion energy mean for insurers? - Nuclear fusion energy, nearing commercial viability, offers insurers a unique opportunity to support clean energy while potentially driving new commercial avenues. By embracing tailored coverage for fusion's distinct safety profile, insurers can unlock new markets and play a pivotal role in advancing this transformative technology. (IDEX Consulting news, 'What does nuclear fusion energy mean for insurers?')How the Brokerbility network creates opportunities for brokers - In an interview with John Dunn, Managing Director of Brokerbility, the premier network was highlighted for its tailored growth support, peer mentoring, innovative tech solutions, and training academy, enabling independent brokers to achieve double-digit growth and outperform market competitors. (IDEX Consulting news, 'How the brokerbility network created opportunities for brokers')The AI insurance tools to look out for - AI tools to support predictive analytics, and automated claims processing are transforming the insurance industry by enhancing risk assessment, customer service, and operational efficiency, while addressing challenges such as regulatory scrutiny and integration with legacy systems. (IDEX Consulting news, 'The AI insurance tools to look out for')Attracting top insurance talent: what you need to know- The insurance employment market continues to see positive growth, with a 0.58% increase in jobs driven by technological advancements and rising demand for skilled talent, while challenges like talent shortages, an ageing workforce, and employee dissatisfaction highlight the need for stronger employer value propositions and improved industry reputation. (IDEX Consulting news, 'Attracting top insurance talent: what you need to know')Beazley's 2025 Risk & Resilience report reveals that 29% of global executives now rank cyber risk as their top concern (up from 26% in 2024), with 83% feeling prepared to manage threats despite the increasing complexity of cyber challenges, including AI-driven ransomware, hacktivism, and third-party vulnerabilities. (Josh Recamara, 27/6/2025, Insurance Business, 'More executives consider cyber risk as top concern – Beazley report')SBS Insurance Services partnered with UnlikelyAI to pilot a claims processing platform that automated 40% of claims with 99% accuracy, leveraging rule-based logic for transparency and regulatory compliance, while reducing miscategorisation rates by 99% and improving operational efficiency. (Josh Recamara, 27/6/2025, Insurance Business, 'SBS Insurance Services' pilot project with alternative AI system')Marsh launched Cyber Unity, a cyber insurance facility offering up to €5 million in primary coverage for mid-sized businesses in Europe and select regions, featuring broader protections, streamlined claims processes, and integrated risk management services to address accessibility challenges in the cyber insurance market. (Josh Recamara, 27/6/2025, Insurance Business, 'Marsh launches cyber insurance facility')Aviva's Global Corporate & Specialty (GCS) division has unified its construction, latent defects, and real estate operations under a new "Real Estate & Construction" framework. This strategy supports sustainable construction, including mass timber projects, and offers insurance across 180+ jurisdictions. The initiative aims to enhance risk management, sustainability, and client engagement throughout project lifecycles. (Kenneth Araullo, 25/6/2025, Insurance Business, 'Aviva unifies construction and real estate under new GCS strategy')Paris-based digital insurer Orus has raised €25 million in a Series B funding round led by Singular, with plans to expand into Spain and other European markets. Orus, which offers digital-first insurance for SMBs, will also launch a broker platform to streamline policy management. Since its Series A, Orus has grown revenue tenfold and now serves over 30,000 businesses. (Josh Recamara, 25/6/2025, Insurance Business, 'Orus secures €25 million in funding round')Saga Group is finalising a partnership with NatWest to enhance its financial services offerings through NatWest's "Banking-as-a-Service" platform. This collaboration will introduce Saga-branded savings and personal finance products, aligning with Saga's strategy of leveraging third-party partnerships to expand its Money division. (Matthew Sellers, 24/6/2025, Insurance Business, 'Saga Group confirms tie-up with NatWest')Aon's analysis reveals the UK insurance market has entered a soft phase, with rates dropping 11-20% across most classes, excluding motor insurance. Buyers benefit from increased capacity, broader coverage, and competitive pricing. Professional indemnity and liability lines saw significant rate reductions, while motor insurance rates rose slightly due to inflation. Aon advises clients to lock in favourable terms and revisit policies reduced during the hard market. (Matthew Sellers, 24/6/2025, Insurance Business, 'UK insurance market tips further in favour of buyers, Aon finds')In further news...Aon has launched Broker Copilot, a platform designed to enhance the insurance placement process by providing brokers with real-time data insights on pricing, carrier appetite, and market sentiment. Integrated with Aon's Risk Analyzer tools, it aims to improve decision-making and streamline workflows. Initially rolled out in the US and London, it will expand globally by 2026. (Kenneth Araullo, 24/6/2025, Insurance Business, 'Aon unveils Broker Copilot to transform insurance placement')Berkeley Research Group (BRG) has launched its Business Insurance Claims (BIC) practice in the EMEA region, marking its first expansion outside the US. Led by Richard Cameron-Williams, the practice will focus on high-value and complex insurance claims, including business interruption disputes. This move aligns with BRG's strategy to meet growing demand for forensic claims expertise in sectors like manufacturing, energy, and retail. (Josh Recamara, 24/6/2025, Insurance Business, 'Berkeley Research Group launches new insurance claims practice')​Mergers and AcquisitionsMunich Re's Ergo Group has merged its Nordic operations, combining Danish travel insurer Europæiske Rejseforsikring A/S with Norwegian health insurer Ergo Forsikring AS. The new entity, Ergo Forsikring A/S, headquartered in Copenhagen, will focus on health and travel insurance across Denmark, Norway, and Sweden. (Kenneth Araullo, 25/6/2025, Insurance Business, 'Munich Re's Ergo merges Nordic units to form new pan-Scandinavian insurer')Aon's 2024 Global Transaction Solutions Claims Study reported record M&A insurance claims payouts, with a 26% rise in claims notifications in EMEA. North America saw over $300 million in recoveries, with tax and compliance breaches leading claims. Globally, Aon has handled over 1,600 claims, totalling $1.75 billion in payouts. (Josh Recamara, 25/6/2025, Insurance Business, '2024 saw highest ever total for M&A claims payouts, Aon report')Marco Capital has acquired R&Q Gamma, a UK-based legacy insurer with liabilities tied to maritime and port worker claims from the UK P&I Club. This marks Marco's continued expansion in the European legacy insurance market, supported by €500 million in equity from Oaktree Capital. The acquisition aligns with Marco's strategy to manage complex run-off liabilities. (Kenneth Araullo, 23/6/2025, Insurance Business, 'Marco Capital acquires UK legacy insurer R&Q Gamma')Movers​Robert Kennedy will become CEO of Howden UK & Ireland on October 1, succeeding Carl Shuker, who transitions to Deputy Chairman. Kennedy, previously CEO of Howden Ireland, brings experience from Aston Lark, Aviva, and RSA. Shuker, with 45 years in the industry, will support the leadership transition. (Gia Snape, 26/6/2025, Insurance Business, 'Shuker replaced as Howden CEO')Dr. Christian Wegener has been appointed as HDI Global's new Head of Investment Management, effective June 15. He succeeds Thorsten Wölbern and will oversee asset allocation, risk-adjusted returns, and global currency hedging. Wegener brings experience from HSBC and AXA, with roles across Europe and Asia. (Kenneth Araullo, 26/6/2025, Insurance Business, 'HDI Global appoints Christian Wegener as head of investment management')Everest Group has appointed Pamela Sinclair as Executive Vice President and Chief Human Resources Officer, effective July 14. She succeeds Gail Van Beveren, who retires after nearly 40 years with the company. Sinclair brings over 30 years of HR experience, including leadership roles at PGIM and Barclays. (Josh Recamara, 26/6/2025, Insurance Business 'Everest Group names new chief human resources officer')Aviva's £3.7 billion acquisition of Direct Line Group will finalise in July, creating the UK's largest motor insurer. Leadership changes include the departure of Direct Line's CEO Adam Winslow and CFO Jane Poole, with Aviva's Jason Storah and Stephen Pond stepping into these roles. The merger aims to achieve £125 million in annual cost synergies and strengthen Aviva's motor and home insurance presence. (Matthew Sellers, 24/6/2025, Insurance Business, 'Aviva set to clear the decks at Direct Line as CEO, CFO out')​All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting

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Charlotte Faherty, Senior Consulting, Financial Services

Charlotte Faherty, Senior Consulting, Financial Services

​“My experience with Charlotte has been truly exceptional. From start to finish, she was consistently supportive, proactive, and genuinely invested in my success. Her positive attitude and approachable nature made the entire process smooth and reassuring. It never felt like just a job to her—she truly had my best interests at heart and went above and beyond to ensure I had everything I needed and felt confident every step of the way.”

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Drew Crawford, Business Director, General Insurance

Drew Crawford, Business Director, General Insurance

​“Drew seems to know everyone. We have been very impressed with the candidates he introduces, and we have made hires as well. We have just made a replacement hire with a candidate Drew introduced. Drew not only identifies candidates but he qualifies them based on our unique needs, filters and presents them in such a way that is a huge time saver, in addition to finding folks we would never have reached. Through his activities sourcing yacht candidates for us and others, he identifies personal lines high net worth experts as well. As I mentioned, doing this for so long I was sure that I already knew everyone…how wrong I was. I highly recommend a call to Drew.”

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Michelle Paish, Business Manager, General Insurance

​“You have been an invaluable partner to us in sourcing talent. Your proactive approach has greatly contributed to our success in filling recent vacancies by consistently delivering quality candidates who’s skills and experience align very well with our needs. Your efficiency and professionalism have made our recruitment process a lot smoother and I would highly recommend your services to any organisation seeking a reliable recruitment partner.”

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​“IDEX continue to demonstrate their skill in sourcing and introducing high quality broking businesses that are aligned strategically and culturally with Clear. Buyers and sellers interests are fully understood and well managed throughout the process, leading to very successful outcomes for all parties” says Paul Beck, M&A Director, Clear Insurance Management.

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Dan Griffiths, Business Manager General Insurance

Dan Griffiths, Business Manager General Insurance

​“IDEX has been an absolute pleasure to work with; specifically Dan Griffiths. They listen to our needs and search for quality candidates whose experience align with our open roles. They are responsive and provide frequent follow ups on open items. Great customer service all around. I would highly recommend using IDEX to any organization who needs assistance with staffing.”

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