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Inside Brokerbility: More than a broker network

IDEX Consulting spoke to John Dunn, Brokerbility Managing Director about the network’s proposition, how the membership programme works and what makes the group different to others in the market. John shares all, from the benefits members experience, to how the network promotes and supports innovation, to what future developments are in store.“Most of our members year on year have achieved double digit growth, and when you look at market statistics, what will always be a stark reminder of Brokerbility’s value is how our members tend to outperform others in the market”, says John.What is Brokerbility’s core purpose?Our purpose at Brokerbility is to be the network community of choice for high quality, growth orientated independent brokers of all sizes from start-ups to large brokers. We’re very much the voice of the independent broker, championing professionalism, improvement and continuity. Our network is a collaborative community where we lift each other up and provide that sounding board and support network that many independent brokers often don’t have access to.It’s incredibly important to us that we stay at the forefront of innovation, where we’re able to provide strategic advice on business growth for all of our brokers. A key component of that is our partnerships with esteemed suppliers and insurers. For those starting out on their independent broking journey we have two propositions within our membership that can help people get their businesses off the ground. They include an appointed representative proposition in partnership with Gauntlet Group and an employed proposition as part of Konsileo. Both of these routes provide a pathway for the next generation of broking entrepreneurs to start their independent journey but with a strong support network backed by Brokerbility.For those transacting business across borders we have a capability to support overseas placements. This expertise is invaluable to independent brokers who would likely find it a challenge to build an international capability on their own.What many of our members tend to find invaluable is peer-to-peer mentoring support, providing different perspectives and introductions to innovations that initiate new business opportunities.How is Brokerbility different to other similar networks? It’s always important for any broker to consider their options and find a network that best meets their objectives. In terms of Brokerbility, we see ourselves as more of a boutique community. Our differentiator is our size, we’re relatively small with a highly experienced central team but what that creates is a real community culture. This helps us to get to know our members and their ambitions really well, enabling us to more accurately and carefully convey our members goals to our strategic partners. Many of us have worked in the broker community for a long time and have experienced enough change to be able to pivot effectively. I ran a broking business and have also worked on the insurer side so am able to use that experience and knowledge to benefit our members and partners. In addition to my role as MD for BrokerbilityI’m also the MD of Distribution and Market Management for Clear Group which offers another degree of connectivity across the market. On the flip side, our membership base is very broad, placing a significant volume of GWP into the market which carries a huge amount of influence and opportunity. We’re able to leverage this expertise and provide better outcomes for our members and end customers. With AI transforming the insurance landscape, can you share how you’re helping brokers innovate?This is a really interesting space, many brokers are trailing AI but for a lot of independent brokers it’s often difficult to find the time to really dig into the benefits AI can offer. We’re supporting in a number of ways. We’re an affiliate partner of InsurTech UK and the only broker network to be part of that community, enabling us to explore new innovations and share those with our members. We also run a regular national director’s event for our member MDs and business owners which covers a range of thought leadership topics and insights, helping to encourage new thinking. AI will also be an integral part of our upcoming conference in September. What technology solutions do Brokerbility offer?A couple of years ago we commissioned our own version of the Broker Insights platform, that is purely for our members and strategic partner insurers. In our bespoke version individual members are able to understand where all of their risks are, providing them with a quick and clear view of the specific insurer partners they’re using, enabling better connectivity and alignment, thus driving better customer outcomes. A recent development we’ve rolled out is the ability for members to set their own placement strategy within the platform, allowing them to track compliance, offering another layer of tracking which helps to analyse business performance. We’re continuing to partner with Broker Insights to fine tune and enhance the platform ensuring it serves the purpose of our members.How does the membership programme work for your members?Our membership model is a fee-based programme which is the reflective of the comprehensive services we offer. What I think makes us very different to other broker networks is that we don’t have a contractual tie in. Our members have access to over 14 unique schemes and can select the most appropriate for their goals. We’re a community that epitomizes partnership, for us the key is transparency which really helps to build trust and an open relationship. We also don’t direct people towards specific insurance relationships, our role is more of a matchmaker – we help brokers identify a partner and opportunity and once we’ve made that connection, it’s then down to them to explore whether that match will work. We have a fantastic Relationship Manager and Operations Director who work with our members day to day on a range of topics. They also provide a pathway of escalation for supplier issues when things aren’t going well, something that members probably wouldn’t have access to outside of the network. It’s hard to find this level of dedicated support anywhere else. We also did a big piece of work a couple of years ago to help us investigate if our offering met the needs of our members in terms of size and growth stage. This helped us identify some gaps where we added new partners, particularly around compliance. I’m proud of our strong partnerships, our members have access to a breadth of specialist insurance providers and we’re constantly having conversations with new partners to evolve our offering.Can you share more about the Brokerbility training academy?The academy is a key component of our proposition and we’re extremely proud of the comprehensive programme we’ve created for our members. Each year, informed by our questionnaire, we design a schedule that caters to our members’ challenges and growth areas, it’s a combination of face-to-face sessions and webinars covering a huge amount of topics including; technical insurance, CPD and leadership, ESG, sales and business development. It’s not just about enabling and empowering our members, the programme also offers insights and learning opportunities brokers can provide to their own teams. Last year we delivered over 2,000 hours of training but the opportunities following those learning experiences are endless.What are the network’s immediate focus areas, to support brokers?We very much look to be the voice of our members, what we really try to get under the skin of is how they’re feeling, how they’re finding trading and what can help address their challenges. That defines our priority areas and sets our agenda for the year ahead. What is always integral to this is how we continue to maximise our strategic partnerships to create solutions, overcome service issues and create new prospective opportunities. Another focus area is how we continue to support growth, especially around lead generation and then also how we can help members develop their placement strategies. What we’ve looked to do over the past 12 months, in particular, is bring additional carriers and facilities on board who can help independent brokers drive better results and customer outcomes.What’s essential is how we can continue to offer something unique, something that not everyone has access to and how we can genuinely and proactively support with the retention of existing clients and development of new ones.Can you share any success stories members have experienced since joining?So, one of the things we're incredibly proud of is the fact that most of our members year on year have achieved double digit growth. A cornerstone of that is the willingness of our members to share learnings and new ways of working with each other, which hugely helps the less established brokers. When you look at market statistics, what will always be a stark reminder of Brokerbility’s value is how our members tend to outperform others in the market. We’re regularly welcoming new members and I’d encourage any independent broker considering their options to get in touch for an initial chat. The market can be a lonely pace for independent brokers and that little of bit extra support can make a huge difference. If you’re interested in learning more about Brokerbility and how the network might benefit your brokerage, get in touch with the team.

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General Insurance newsletter Friday 9th May 2025

Insurance NewsOptimise the interview process to find the best hire - Employers can improve hiring outcomes by adopting structured and behavioural interviews, aligning questions with job competencies, training interviewers to assess fairly, and actively addressing unconscious bias—helping to reduce costly mis-hires, improve retention, and build more diverse, high-performing teams. (IDEX Consulting news, 'Optimise the interview process to find the best hire')2025 BIBA conference: Free business growth and talent review consultation - Exploring your business and talent growth options? Our talent, M&A and business transformation consultants have over 325 combined years of experience across the insurance market enabling clients and professionals to achieve their ambitions. They will be on hand during the BIBA conference to answer questions and provide strategic advice. Book in a free consultation to explore your business growth options. (IDEX Consulting news, '2025 BIBA conference: Free business growth and talent review consultation')Key regulatory changes for UK brokers - In 2025, UK and US insurers face tighter regulations on data protection, consumer fairness, and climate risk disclosures, with expanded FCA Consumer Duty rules in the UK and broader adoption of NAIC data laws and climate reporting in the US—pushing firms to improve compliance and transparency. (IDEX Consulting news, 'Key regulatory changes for UK brokers')Predictive analytics: how to use it for competitive advantage - Predictive analytics is revolutionising the insurance sector by enhancing risk assessment and underwriting accuracy, improving fraud detection, streamlining claims processing, and enabling personalised customer experiences. Insurers leveraging these data-driven strategies are achieving greater operational efficiency, profitability, and customer satisfaction. (IDEX Consulting news, 'Predictive analytics: how to use it for competitive advantage')Castlebridge Risk Solutions, founded by industry veterans Tim Grant and James Dunsby, is set to launch on June 3, 2025, as a UK commercial insurance broker targeting SMEs and property owners. Operating as an Appointed Representative of Momentum Broker Solutions, the firm will offer advice-led, tech-enabled insurance solutions, with plans for growth through organic expansion, partnerships, and selective acquisitions. (Josh Recamara, 9/5/2025, Insurance Business, 'Castlebridge Risk Solutions to enter UK insurance market')Coalition's 2025 Cyber Claims Report shows a 22% drop in ransomware demands, but a rise in BEC severity by 23%, now accounting for 60% of claims. Ransomware costs increased by 33% in the U.S., while Coalition’s proactive approach helped resolve 56% of claims without out-of-pocket expenses for policyholders. (Kenneth Araullo, 8/5/2025, Insurance Business, 'Coalition sees decline in ransom demands, rise in BEC severity')Intact Financial Corporation, parent of RSA, reported a 3% rise in Q1 2025 operating direct premiums written, driven by growth in personal lines; net operating income increased 11% to CA$717 million, with a stable combined ratio of 91.3% despite higher catastrophe losses. (Josh Recamara, 8/5/2025, Insurance Business, 'RSA parent gets boost from personal lines')Aspen Insurance raised $397.5 million in its NYSE IPO, valuing the firm at $2.8 billion; the Apollo-backed insurer, which went private in 2019, has since restructured under CEO Mark Cloutier to reduce reinsurance and cat risk. (Josh Recamara, 8/5/2025, Insurance Business, 'Aspen Insurance IPO raises close to $400 million - report')International General Insurance Holdings (IGI) reported a 28% decline in Q1 2025 net income to US$27.3 million, impacted by US$28.2 million in catastrophe losses and a higher loss ratio of 55.5%. While gross written premiums rose 13.7% to US$206.5 million, underwriting income fell to US$27.9 million. The combined ratio increased to 94.4%, reflecting elevated loss activity and macroeconomic pressures. (Kenneth Araullo, 7/5/2025, Insurance Business, 'IGI sees lower profit amid rising catastrophe claims in Q1')Marsh’s UK Cyber Insurance Claims Report shows a 20% drop in claims in 2024, though activity remains elevated, with ransomware cases down 31% but still double pre-2023 levels, driven by tougher enforcement, reduced ransom payments, and evolving attack methods. (Kenneth Araullo, 7/5/2025, Insurance Business, 'Marsh reports drop in UK cyber claims, but activity remains elevated')AXA reported a 7% rise in Q1 2025 gross written premiums to €38 billion, driven by growth in health and P&C lines, despite natural catastrophe losses of €233 million and continued business exits in Asia and Europe. (Josh Recamara, 7/5/2025, Insurance Business, 'AXA reports 7% increase in GWP')Starpeak has introduced Cyber Resilience and Recovery Cover for SMEs, available through Protectivity Insurance. Developed with Addept Insurance, it offers 24/7 support, technical assistance, legal help, and financial protection, addressing the rising cyber threats faced by small businesses. (Josh Recamara, 7/5/2025, Insurance Business, 'Starpeak adds cyber support cover to SME insurance offering')CNA Financial's Q1 2025 net income fell 19% to $274 million, impacted by $28 million in catastrophe losses. Despite this, gross written premiums rose 7%, and the Property & Casualty segment reported a combined ratio of 98.4%, with a 3.8-point hit from catastrophes. (Josh Recamara, 6/5/2025, Insurance Business, 'CNA sees net income slip')Technology provider Earnix has joined the British Insurance Brokers’ Association (BIBA) to help UK brokers leverage AI for improved pricing accuracy, compliance, and operational efficiency, supporting digital transformation with real-time data and advanced analytics. (Kenneth Araullo, 6/5/2025, Insurance Business, 'Earnix becomes BIBA member to boost AI use in UK insurance brokerages')A proposed rise in Insurance Premium Tax (IPT) could make insurance premiums less affordable for UK households and businesses. A BIBA-commissioned report warns that higher IPT could lead to reduced coverage, increased underinsurance, and greater financial strain, with calls for a reduction from 12% to 10%. (Josh Recamara, 6/5/2025, Insurance Business, 'Insurance Premium Tax rise – what impact could it have?')FUW Insurance Services Ltd has launched FUW Commercial, a new division aimed at expanding its presence in the commercial insurance market across north Wales, initially serving businesses along the A55 corridor and offering coverage in sectors such as haulage, construction, hospitality, motor trade, retail, and leisure. The new operation will be led by Esther Richards Dip CII, who has worked for FUW Insurance Services since 2013 across its Flintshire and Denbighshire offices. (Josh Recamara, 6/5/2025, Insurance Business, 'FUW Insurance launches new commercial division')Arthur J. Gallagher & Co. reported a 14% year-over-year increase in first-quarter revenue for 2025, driven by growth in its brokerage and risk management operations, completion of 11 mergers - including the acquisition of Woodruff Sawyer - and an expected US$250 million in annualised revenue from the deal. (Josh Recamara, 5/5/2025, Insurance Business, 'Gallagher enjoys 14% jump in first quarter results')Mergers and AcquisitionsShape Underwriting has acquired Protect Underwriting LLP, a specialist in high-net-worth private client insurance, marking its first acquisition since rebranding earlier this year. This move aims to enhance Shape's capabilities in the specialty insurance market and expand its portfolio and customer base. The acquisition aligns with a broader trend of consolidation in the UK Managing General Agent (MGA) sector, driven by strategic and financial buyers seeking to expand specialty offerings and distribution channels. (Josh Recamara, 9/5/2025, Insurance Business, 'Shape Underwriting acquires Protect Underwriting')Optio Group has acquired UK-based managing general agent Custodian Management Ltd to enhance its professional indemnity and management liability offerings, strengthening broker relationships and underwriting capabilities as part of its strategy to build a diversified specialty MGA platform. (Kenneth Araullo, 8/5/2025, Insurance Business, 'Optio Group acquires Custodian Management to expand liability offering')UK insurance M&A activity surged in April 2025 with 16 deals—the busiest month so far this year—bringing the year-to-date total to 35, though still 26% below the same period in 2024. MarshBerry notes a decline in private equity involvement, now at 40% of deals, the lowest since before 2016, and highlights increased participation from insurance carriers like Markel and Zurich, suggesting a shift in market dynamics amid a softening environment. (Kenneth Araullo, 8/5/2025, Insurance Business, 'Busiest UK insurance M&A month so far in 2025 – Marshberry')Arthur J. Gallagher has expanded its presence in Turkey by acquiring Aspera Sigorta ve Reasürans Brokerliği A.Ş., a boutique insurance and reinsurance brokerage specialising in industrial property, power and energy, and construction risks. Founded in 2022, Aspera employs six professionals and will integrate into Gallagher's existing Istanbul operations, led by CEO Gündüz Tezel and CFO Levent Özbilen. This acquisition enhances Gallagher's capabilities in a strategic market bridging Asia and Europe. (Kenneth Araullo, 6/5/2025, Insurance Business, 'Gallagher expands Turkey presence')MoversRokstone has launched a UK and Ireland casualty division, appointing Lewis Goodearl as Head. With over 30 years of experience, Goodearl previously held senior underwriting roles at Convex, AXA XL, Liberty Mutual, and ACE Europe. The new division will focus on employers’ liability, public liability, contractors all risks, and associated property exposures, supporting sectors such as construction, real estate, manufacturing, infrastructure, and mid-market commercial businesses. (Josh Recamara, 9/5/2025, Insurance Business, 'Rokstone launches UK and Ireland casualty division')Arch has promoted Sophie Mansouri to UK Professional Indemnity Underwriting Manager, now leading an eight-person team following the consolidation of its SME and regional PI operations; she joined in 2023 from Hiscox, where she managed the UK large renewals team, and brings over 11 years’ experience across commercial lines, with a focus on PI underwriting and client retention. (Kenneth Araullo, 8/5/2025, Insurance Business, 'Insurance moves: Arch, Consilium')Consilium, the specialty re/insurance broking arm of Aventum Group, has appointed Nick Woodward as Chief Claims Officer; an ACII-qualified re/insurance lawyer with nearly 30 years’ experience, Woodward joins from Optio and has held senior claims roles at SCOR, Eaton Gate, CFC, and HCC International, where he was Head of Casualty Claims and General Counsel. (Kenneth Araullo, 8/5/2025, Insurance Business, 'Insurance moves: Arch, Consilium')Patrick Tiernan has been appointed CEO of Lloyd’s of London, effective June 1, 2025, succeeding John Neal, who is joining Aon. Currently serving as Chief of Markets at Lloyd’s, Tiernan brings nearly three decades of experience from roles at Aviva, StarStone Insurance, and Zurich. (Kenneth Araullo, 8/5/2025, Insurance Business, 'Patrick Tiernan named Lloyd's CEO')Quick Ralf & Grant (QRG) has appointed Ted Zaimis as Director for Greece to lead its marine division, following the acquisition of Alpha Victor Marine; Zaimis brings extensive marine insurance experience from roles at FirstCity, JLT, Barbican, Alpha & Omega Marine, and TMS Shipping. (Josh Recamara, 9/5/2025, Insurance Business, 'Insurance moves: Broadstone, QRG, Marsh and Resilience')Marsh has appointed Typhaine Beaupérin as Client Leader for risk management in Europe; she joins from FERMA, where she was CEO and Secretary General for nearly 10 years, and is recognised for her influence on European risk management policy. (Josh Recamara, 9/5/2025, Insurance Business, 'Insurance moves: Broadstone, QRG, Marsh and Resilience')Independent UK financial services consultancy, Broadstone, has appointed Bill Pedersen as a Non-Executive Director; with 35 years in financial services, Pedersen was CFO and later COO at Milliman, and joins as Broadstone targets growth in the insurance sector. (Josh Recamara, 9/5/2025, Insurance Business, 'Insurance moves: Broadstone, QRG, Marsh and Resilience')Resilience has appointed Diego Rodriquez Vazquez as Underwriting Manager for Spain and Portugal; he brings cybersecurity and underwriting expertise from roles at AXA XL and Chubb, supporting the firm's regional expansion. (Josh Recamara, 9/5/2025, Insurance Business, 'Insurance moves: Broadstone, QRG, Marsh and Resilience')The Fidelis Partnership has appointed Peter Welton as Head of Specialty; he joins from AXA XL, bringing over 20 years of experience, including leadership roles in marine, energy, and aerospace, to focus on expanding TFP’s aviation, space, and energy re/insurance, including renewables. (Josh Recamara, 7/5/2025, Insurance Business, 'Insurance moves: Fidelis, DAC Beachcroft, Allianz Partners and Broker Insights')DAC Beachcroft has appointed Simon Jackson as Head of its marine, energy, and shipping teams; he joins from Clyde & Co, bringing expertise in major incidents like the Gryphon A offshore loss and natural catastrophes, further expanding DACB’s global presence. The firm has also promoted Franc Gozalvez to Partner, effective May 1. (Josh Recamara, 7/5/2025, Insurance Business, 'Insurance moves: Fidelis, DAC Beachcroft, Allianz Partners and Broker Insights')Allianz Partners has appointed Ivan Komandnyi as Head of Insurer Network Management in its health & benefits division; with 20 years of experience, he will oversee the Allianz Health and Benefits Network, managing global partner relationships. Komandnyi previously held senior roles at Allianz Russia and Allianz Consulting. (Josh Recamara, 7/5/2025, Insurance Business, 'Insurance moves: Fidelis, DAC Beachcroft, Allianz Partners and Broker Insights')Broker Insights has appointed Stuart Spink as COO, bringing experience from Lloyd’s and Aviva to scale its data and tech solutions; Sandy Scott joins as Head of Data, with a background at Google, Sainsbury’s Bank, and the BBC. The firm has also promoted Ying Wang to Chief Product Officer, Andy Whiteley to Director of commercial data, Amy Garland to Finance Director, and Matthew Callaghan to Head of Technology, who will lead upcoming platform developments. (Josh Recamara, 7/5/2025, Insurance Business, 'Insurance moves: Fidelis, DAC Beachcroft, Allianz Partners and Broker Insights')Broadway Insurance Partners has appointed Nicola Blunt as Managing Partner to lead its new Lancashire office and Stuart Lowe as Director of risk protection, both bringing extensive experience from their previous roles—Blunt as Commercial Director at Guy Penn Insurance and Lowe from Reich—contributing to the firm's regional expansion strategy. (Josh Recamara, 6/5/2025, Insurance Business, 'Broadway Insurance Partners makes two senior leadership appointments')Gallagher has appointed Ian Picton as Head of Energy Transition to lead its climate solutions division, leveraging his 18 years of experience in energy insurance, including roles at Willis, Marsh, and XL Catlin, to support clients transitioning to low-carbon and renewable energy solutions. (Josh Recamara, 6/5/2025, Insurance Business, 'Gallagher appoints Ian Picton as head of energy transition')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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General Insurance newsletter Friday 2nd May 2025

Insurance NewsBenefit from a free business growth and talent consultation - Will you be at the 2025 BIBA conference? Our M&A, business growth and talent specialists will be, including our new CEO for M&A, Andy Fairchild (previous Broker Network CEO). Book in a free business review with them. The consultation will include personalised strategic guidance on how you can optimise business growth and revenue, and recruit top insurance talent across the market. (IDEX Consulting news, 'Benefit from a free business growth and talent consultation')"Facts tell...stories sell" Paul Davey, MD for IDEX Consulting shares his views on the insurance talent market and how to secure the best employees - The UK general insurance (UKGI) sector faces a growing talent gap, driven by technological advancements, an ageing workforce, and shifting employee expectations. Insurers are increasingly seeking professionals with digital, data, and AI skills, yet many are not doing enough to promote their unique differentiators and attract the right talent. Paul shares how insurers, brokers and MGAs can plug the talent gap and secure the very best talent in the market. (IDEX Consulting news, '"Facts tell...stories sell" Paul Davey, MD for IDEX Consulting shares his views on the insurance talent market and how to secure the best employees')Optimise the interview process with these tips - Employers can enhance hiring outcomes by adopting structured, competency-based interview frameworks and integrating cognitive assessments. IDEX Consulting shares practical tips on how employers can enhance the interview process to help employers make quick informed decisions on cultural fit, skills and long-term ambition. (IDEX Consulting news, 'Optimise the interview process with these tips')New AI tools to trial and test for insurers, brokers and MGAs - AI tools are revolutionising the insurance industry by improving operational efficiency, risk assessment, and customer service. Technologies like InsurGPT and Expert AI enhance data processing, while predictive analytics and automated claims streamline underwriting, fraud detection, and pricing, reshaping business models and client engagement. Learn which ones you could trailing now. (IDEX Consulting news, 'New AI tools to trial and test for insurers, brokers and MGAs')Sutton Winson has rebranded as Acrisure UK Broking Limited, becoming the first of Acrisure’s nine UK retail brokers to adopt the parent company’s name. This rebrand includes a new website and is part of a broader strategy to unify Acrisure's UK operations under a single brand during 2025. (Josh Recamara, 2/5/2025, Insurance Business, 'Sutton Winson gets a new name')Artio has received Lloyd's approval to underwrite early-stage carbon projects, enabling it to provide insurance for initiatives such as afforestation and biochar, while using a proprietary risk model to assess and mitigate risks in carbon offset projects, with plans to expand to additional climate solutions by 2025. (Josh Recamara, 2/5/2025, Insurance Business, 'Artio gets Lloyd's approval to underwrite carbon projects')The Clear Group has rebranded its MGA division as Shape Underwriting—uniting Profile Underwriting and One Commercial Specialty under one name from May 1, 2025—in a strategic move led by managing director Mandy Hunt to strengthen its UK market presence and deliver specialised solutions across commercial, property, and casualty lines. (Paul Lucas, 1/5/2025, Insurance Business, 'Clear Group announces MGA rebrand')Markel has been named an official partner of BIBA, sponsoring the 2025 BIBA Conference and offering members access to services like a 24/7 legal helpline and business support. (Josh Recamara, 2/5/2025, Insurance Business, 'BIBA announces Markel as official partner')In further news...Markel Group reported lower operating revenue and income in Q1 2025 due to negative equity market movements, though net investment income rose 8% year-on-year on higher yields and fixed income holdings, highlighting the volatility of GAAP-based results. (Kenneth Araullo, 1/5/2025, Insurance Business, 'Markel reports Q1 hit')Hiscox Ltd reported a 2.4% rise in group insurance contract written premiums to US$1.56bn in Q1 2025, driven by 6.1% growth in Hiscox Retail and a 4.0% rebound in the London Market, while maintaining its US$170m net loss estimate from the California wildfires. (Kenneth Araullo, 1/5/2025, Insurance Business, 'Hiscox sees steady Q1 performance as wildfire losses remain unchanged')AXIS Capital reported Q1 2025 operating income of $261 million, up from $220 million in Q1 2024, despite $49 million in catastrophe losses—$32 million from California wildfires—while gross premiums written rose 5% to $2.8 billion, driven by insurance and reinsurance growth, and net investment income increased to $208 million, aided by higher yields and alternative asset returns. (Kenneth Araullo, 1/5/2025, Insurance Business, 'AXIS highlights operational efficiencies amid wildfire losses in Q1 update')BIBA's latest research reveals that regulatory costs account for 5.2% of insurance premiums, with brokers shouldering 3.3%—nearly double that of insurers—despite posing lower systemic risk; BIBA is urging the FCA to reduce this disproportionate burden and streamline compliance requirements. (Kenneth Araullo, 1/5/2025, Insurance Business, 'Brokers bear the brunt of regulatory costs, BIBA study reports')Everest Group reported a 71% drop in Q1 2025 net income to $210 million, primarily due to $472 million in pre-tax catastrophe losses—$442 million from California wildfires—raising its combined ratio to 102.7%; despite this, net investment income grew to $491 million, and CEO Jim Williamson affirmed confidence in the company's strategic trajectory. (Josh Recamara, 1/5/2025, Insurance Business, 'Everest Group reports lower first-quarter net income')Aspen Insurance reported a sharp drop in Q1 2025 net income to $36.8 million from $111.8 million a year earlier, as catastrophe losses surged to $91.4 million, pushing the combined ratio up to 96.1%; this comes as the company prepares for a $300 million IPO on the NYSE under the ticker “AHL”. (Josh Recamara, 1/5/2025, Insurance Business, 'Aspen Insurance releases first quarter financial results')Lancashire Holdings reported a 12.7% year-on-year increase in gross premiums written to $712.1 million in Q1 2025, driven by growth in reinsurance and U.S. insurance lines, while maintaining its estimated net loss from the January California wildfires at $145–$165 million. (Kenneth Araullo, 1/5/2025, Insurance Business, 'Lancashire sees growth across reinsurance and US insurance lines in Q1')The European Commission has implemented new regulations requiring vessels to provide proof of insurance when transiting EU waters, aiming to combat sanctions evasion and enhance compliance with international sanctions and risk management standards. (Josh Recamara, 1/5/2025, Insurance Business, 'EU implements new insurance rules to tackle sanctions-evasion')Marsh’s UK Cyber Insurance Claims Trends Report highlights a slight dip in overall claims in 2024, but ransomware continues to dominate, accounting for nearly a third of claims. The report serves as a stark wake-up call for brokers and boards, urging increased attention to emerging cyber threats and more proactive risk management. (Matthew Sellers, 30/5/2025, Insurance Business, 'Cyber claims surge offers a stark wake-up call for brokers and boards')Arch Capital Group reported a 49.2% drop in Q1 2025 profit to $564 million, driven by $547 million in wildfire-related losses, while gross premiums written rose 8.9% to $6.5 billion. (Kenneth Araullo, 30/5/2025, Insurance Business, 'Arch Capital reports Q1 results amid wildfire-driven losses')Julia King, Chair of the Climate Change Committee’s adaptation group, has warned that UK flood defence funding may be at risk in the upcoming June spending review, despite a previous £2.65 billion commitment, due to fiscal pressures and shifting priorities. (Kenneth Araullo, 30/4/2025, Insurance Business, 'Flood protection in jeopardy as UK considers defence budget shift')Aspen Insurance Holdings Ltd. has launched an initial public offering (IPO) of 11 million Class A ordinary shares, priced between $29.00 and $31.00 each, aiming to raise up to $341 million. The shares, to be sold by affiliates of Apollo Global Management, will be listed on the New York Stock Exchange under the ticker symbol “AHL”. A 30-day option allows underwriters to purchase an additional 1.65 million shares. (Josh Recamara, 30/4/2025, Insurance Business, 'Aspen Insurance discloses IPO of 11 million shares')Talanx Group reported a Q1 2025 net income of €604 million, up from €576 million last year, driven by strong primary insurance performance, and reaffirmed its full-year guidance of over €2.1 billion. (Josh Recamara, 30/4/2025, Insurance Business, 'Talanx Group shares preliminary Q1 net income')Brown & Brown reported Q1 2025 revenue of $1.4 billion, up 11.6% year-over-year, with net income rising 13% to $331 million and diluted EPS increasing to $1.15.Organic revenue grew 6.5%, and the company declared a $0.15 per share quarterly dividend. (Josh Recamara, 30/4/2025, Insurance Business, 'Brown & Brown reports financial results for Q1 2025')Beazley reported a 2% year-over-year increase in Q1 2025 insurance written premiums to $1.51 billion, with net premiums up 1% to $1.25 billion. Despite a 4% decline in renewal premium rates, the company maintained its full-year guidance of mid-single-digit premium growth and an undiscounted combined ratio in the mid-80s. (Kenneth Araullo, 29/4/2025, Insurance Business, 'Beazley maintains growth outlook in Q1 despite market shifts')Zurich Insurance and Marsh have partnered to digitise multinational insurance programmes through API connectivity, enabling real-time sharing of policy and premium data for joint clients. The initiative, piloted in the US and now rolling out globally, aims to improve efficiency, reduce manual processes, and enhance service delivery across complex, cross-border insurance placements. (Kenneth Araullo, 29/4/2025, Insurance Business, 'Zurich and Marsh partner up to digitise multinational insurance')Aon reported Q1 2025 results with a 16% revenue increase to $4.7 billion, driven by 5% organic growth, but net income dropped 10% to $965 million due to higher operating expenses; the company reaffirmed its 2025 growth guidance. (Josh Recamara, 28/4/2025, Insurance Business, 'Aon discloses first-quarter results')Mergers and AcquisitionsGeopolitical risks are increasing demand for warranty & indemnity (W&I) insurance in cross-border M&A deals, with investors seeking stability in regions like the UK and Asia. Rowan Bamford, President of Liberty GTS, highlighted that cross-border deals inherently carry more risks, driving the need for transactional risk insurance. The W&I market is stabilizing after aggressive competition, and experts anticipate that Asia will be a key growth driver for insurance premiums in the medium term. (Gia Snape, 1/5/2025, Insurance Business, 'M&A insurance demand may rise as cross-border deals get riskier')Aon has acquired Atlas Insurance Agency, a leading Israeli marine insurer, enhancing its marine capabilities in Israel with services including cargo, hull, and charterers' liability, while integrating key Atlas employees into its operations. (Josh Recamara, 1/5/2025, Insurance Business, 'Aon acquires Atlas Insurance Agency')Bain Capital's special-situations unit is in advanced talks to lead a $2 billion preferred equity investment in Acrisure, a rapidly growing US insurance and fintech platform, potentially allowing existing investors to redeem part of their 2021 senior preferred stock. (Kenneth Araullo, 29/4/2025, Insurance Business, 'Bain Capital eyes up massive Acrisure deal')Mediobanca has launched a €6.3 billion takeover bid for Banca Generali, offering an 11% premium, to strengthen its wealth management division and counter a rival bid, with the deal expected to generate €300 million in synergies. (Josh Recamara, 29/4/2025, Insurance Business, 'Mediobanca launches takeover bid for Banca Generali')In 2024, the UK insurance distribution market experienced a record 152 mergers and acquisitions (M&A) transactions, surpassing the previous high of 151 deals in 2023, according to MarshBerry. Notably, 21% of these deals involved overseas buyers, with 32 transactions spanning 18 countries. US-based firms played a significant role, contributing to the increase in cross-border acquisitions. This trend is expected to continue in 2025, with international buyers, including those from Australia and Asia, showing growing interest in the UK market. (Josh Recamara, 28/4/2025, Insurance Business, 'UK insurance deals set record number - Marshberry')MoversTokio Marine HCC International has appointed Thibaud Hervy—formerly CUO for specialty lines—as CEO, and Simon Button as CUO, in a strategic leadership shift following Barry Cook’s move to deputy CEO of Tokio Marine HCC; Hervy brings deep underwriting expertise, while Cook leaves a legacy of transforming TMHCCI into a $2.8bn London Market force. (Paul Lucas, 1/5/2025, Insurance Business, 'Tokio Marine HCC International names new CEO')Chris Jones has officially succeeded Dave Matcham as CEO of the International Underwriting Association (IUA), following a long tenure as director of legal, underwriting, and claims, marking a leadership transition after Matcham’s two-decade tenure. (Roxanne Libatique, 1/5/2025, Insurance Business, 'Chris Jones starts tenure as IUA chief executive')Phoenix Specialty has launched a Global Contractors’ Plant and Equipment (CPE) product, led by Paul Kissane, who brings over 20 years of underwriting experience from Castel, Pioneer Underwriters, and WRB, as part of its international growth strategy, offering coverage for owned and hired plant across a wide range of asset types. (Josh Recamara, 1/5/2025, Insurance Business, 'Insurance moves: Phoenix Specialty and Send Technology')Markel has appointed Mark Lowther as Head of Technology in the UK, effective immediately. With over 19 years at Markel, Lowther previously served as Head of Financial Lines Sector Sales, focusing on technology insurance products and building strong broker relationships. In his new role, he will drive Markel's growth in the UK tech sector, leveraging his extensive experience to enhance underwriting capabilities and expand the company's footprint in this rapidly growing market. (Kenneth Araullo, 30/4/2025, Insurance Business, 'Markel appoints Mark Lowther as head of technology to lead UK sector growth')Simply Business, a digital broker for small businesses and landlords, has named Jodi Cartwright as UK Chief Commercial Officer. With over 30 years of insurance industry experience, Cartwright will head the commercial function, focusing on developing partnerships, products, and propositions to support the broker’s growth strategy. (Josh Recamara, 30/4/2025, Insurance Business, 'Insurance moves: Brace, Specialist Risk Group, Close Brothers and Simply Business')Brace UK & Europe, a multi-line and alternative risk specialist underwriter backed by Beat Capital Partners, has appointed Amie Townsend as Senior Underwriter, tasked with growing MGA relationships and managing underwriting for its alternative risk portfolio. (Josh Recamara, 30/4/2025, Insurance Business, 'Insurance moves: Brace, Specialist Risk Group, Close Brothers and Simply Business')Specialist Risk Group (SRG) has hired Ed Nicholson and Matt Solley to support its entry into the Structured Credit & Political Risk market, following the acquisition of Tysers’ re/insurance business. Nicholson brings extensive experience advising banks, funds, and corporates on structured and trade finance deals, while Solley, formerly Head of Gallagher’s political risk and structured credit team, has over 20 years of sector expertise. (Josh Recamara, 30/4/2025, Insurance Business, 'Insurance moves: Brace, Specialist Risk Group, Close Brothers and Simply Business')Close Brothers Premium Finance (CBPF) has appointed Mark Farrant as Head of Sales Operations and Cris Jackson as Growth Director. Farrant, with over 10 years at CBPF, will lead broker management and sales optimisation, while Jackson, previously a Consultant for CBPF, will drive growth through new markets and deeper broker relationships. (Josh Recamara, 30/4/2025, Insurance Business, 'Insurance moves: Brace, Specialist Risk Group, Close Brothers and Simply Business')David Otudeko has been appointed Director of Regulation at the Association of British Insurers (ABI), having previously served as Interim Director since November 2024. He joined the ABI in June 2021 as Assistant Director and Head of Prudential Regulation. Before his tenure at the ABI, Otudeko held risk-focused roles at the Prudential Regulation Authority (PRA), PwC, and AmTrust. (Josh Recamara, 29/4/2025, Insurance Business, 'ABI appoints new director of regulation')Carbon Underwriting CEO and Co-Founder Nick Tye is retiring due to progressive multiple sclerosis, with Co-Founder Jacqui Ferrier stepping in as CEO; Tye co-founded the company in 2018, leading the development of its proprietary data ecosystem, Graphene, and guiding its transition to a full Lloyd’s syndicate in 2023. (Kenneth Araullo, 28/4/2025, Insurance Business, 'MGA CEO to retire due to ill health')Willis has expanded its UK real estate team with four senior appointments: Lauren McKay and Liam Hebron as Directors in London, Craig Johnson as Executive Director in Manchester, and Shaun Grainger as Development Director in the newly formed residential real estate team. McKay joins from CBRE, Hebron brings experience from Gallagher and Axco, Johnson has a background with Lockton and Marsh, and Grainger has 20 years of experience in the financial and insurance industries. The new hires will support clients including real estate investment trusts (REITs), private equity real estate (PERE) firms, private investors, pension funds, and investment managers, focusing on delivering risk-focused solutions across property portfolios. (Insurance Business, 28/4/2025, 'Willis expands real estate team with senior appointments')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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Financial Services newsletter Friday 2nd May 2025

Financial Services NewsAberdeen’s advice arm saw £0.6bn in Q1 2025 outflows—its lowest since Q3 2023 and a 30% year-on-year improvement—attributed to service and platform enhancements; assets dropped to £73.7bn, while Interactive Investor offset losses with £1.6bn in inflows and 9% customer growth. (Financial Planning Today, 30/4/2025, 'Aberdeen Adviser sees £0.6bn Q1 net outflows')George Kinder, Founder of the Life Planning movement, has secured a UK Innovator Founder Visa to launch the next phase of his global strategy from London, aiming to integrate Life Planning principles into workplaces and expand his mission across the UK. (Financial Planning Today, 29/4/2025, 'Kinder secures UK innovator visa to expand global vision')Frenkel Topping reported record FUM of £1.56bn for 2024, with DFM assets up 26% to £1.03bn; revenues rose to £37.4m and pre-tax profits jumped nearly 31% to £4.2m. (Financial Planning Today, 28/4/2025, 'Frenkel Topping funds climb to £1.56bn')Tech-savvy financial advice firms generate significantly stronger results, with 119% more recurring revenue, 105% more total revenue, 86% more AUA, and 39% more clients than low-adoption peers, according to Intelliflo’s latest eAdviser Index based on nearly 4bn user interactions. (Financial Planning Today, 28/4/2025, 'Tech savvy advisers outperforming rivals')SIPP and SSAS provider InvestAcc reported a 16.3% rise in revenue to £10.5m for H2 2024, following its £41.5m acquisition and rebrand last October; it also agreed to acquire AJ Bell’s Platinum SIPP and SSAS business for £25m, completing later this year. (Financial Planning Today, 25/4/2025, 'InvestAcc revenue up 16% after SIPP acquisitions')Jupiter Fund Management saw AUM fall by £1bn to £44.3bn in Q1 2025, driven by £1.5bn in retail outflows, partly offset by £1bn in institutional inflows; the company cited a challenging macro environment and investor sentiment towards risk assets. (Financial Planning Today, 25/4/2025, 'Jupiter assets fall by £1bn as outflows continue')St James’s Place saw AUM drop £2bn to £188.6bn in Q1 2025 despite a 29% rise in gross inflows; the dip was attributed to global market declines, but net inflows more than doubled to £1.69bn, with gross inflows rising to £5.14bn, reflecting strong adviser-client relationships. (Financial Planning Today, 24/4/2025, 'Assets dip for SJP despite strong inflows')Quilter reported record core net inflows of £2.28bn in Q1 2025, up 181% year-on-year and 16% higher than Q4 2024; CEO Steven Levin cautioned that market volatility could affect profitability this year. (Financial Planning Today, 23/4/2025, 'Quilter Q1 core net inflows rise 181%')Shackleton (formerly Skerritts Group) has launched a personal injury and Court of Protection division after acquiring £1.4bn AUM IM Asset Management from Irwin Mitchell Group—its latest move under new CEO Paul Feeney and part of an ongoing expansion strategy that’s included 17 acquisitions since 2021, most recently PK Financial Planning. (Financial Planning Today, 23/4/2025, 'Shackleton launches £1.4bn AUM personal injury business')Marlborough has launched a bespoke portfolio management service for advisers supporting high-net-worth clients, charities, and trustees; developed by Edward Kennedy, who joined the firm in June as Head of Bespoke Discretionary Fund Management, the service offers tailored portfolios, tiered fees, and is backed by a new IFA Charter to reinforce adviser partnerships. (Financial Planning Today, 22/4/2025, 'Marlborough adds new bespoke portfolio service for HNWs')Tatton Asset Management reported record net inflows of £3.7bn in the past year, representing 22.3% of opening AUM; total AUM reached £21.8bn as of March 31, up from £17.6bn in 2024. The firm is on track to meet its £30bn AUM target by March 2029, having added £4.2bn in the first year. (Financial Planning Today, 15/4/2025, 'Record net inflows of £3.7bn for Tatton')Quilter Cheviot Europe has launched three new international multi-asset funds—Balanced, Growth, and Equity—available in Euro, Sterling, US Dollar, and Singapore Dollar; the funds invest across equities, fixed income, and alternatives, and are accessible directly or via 10 platforms with a minimum investment of €20,000. (Financial Planning Today, 10/4/2025, 'Quilter Cheviot adds 3 international multi-asset funds')The FCA is proposing a 2.8% increase in regulatory fees for advice firms, starting in April next year, as part of a consultation document (CP25/7); the funding requirement for fee-block A.13, which includes advisers, arrangers, dealers, and brokers, has risen by 3.4%, from £103m to £106.5m, impacting around 10,023 firms. (Financial Planning Today, 8/4/2025, 'FCA proposes 2.8% fee increase for advice firms')In further news...The FCA is enhancing support for innovative firms through its 2025–2026 work programme, introducing measures such as assigning an authorisation case officer from the outset for firms using the regulatory sandbox, and launching the Private Intermittent Securities and Capital Exchange System (PISCES) to facilitate capital raising for private companies. (Financial Planning Today, 8/4/2025, 'FCA ramps up support for innovative firms')Westerby Group, a Leicester-based wealth adviser and pensions firm, has transitioned to employee ownership through an Employee Ownership Trust (EOT). Founder and Chairman Les McLintic has transferred his controlling interest to the trust, enabling over 100 staff members to share in the company's future success. Established in 1986, Westerby now manages over £1.66 billion in assets and serves more than 5,000 clients across its offices in Leicester, Weymouth, and Manchester. (Financial Planning Today, 4/4/2025, 'Westerby Group moves to employee ownership')Looking for a new career opportunity? Check out these latest jobs - IDEX Consulting's Financial Services job portal features over 230 opportunities across the UK, Europe, North America and Asia, including roles in wealth management, financial planning, compliance, and investment advisory. IDEX offers a salary calculator and a 2025 salary guide to assist professionals in navigating the financial services job market. (IDEX Consulting news, 'Looking for a new career opportunity? Check out these latest jobs')M&A resource library - Access our free resources where M&A buy-and-sell leaders, and tax, regulatory and legal experts share a range of useful guidance, including; how to maximise your sale value and manage a smooth transaction. (IDEX Consulting news, 'M&A resource library')Expert insights: how businesses can drive value add sustainability - Building and implementing a sustainability strategy involves aligning with global frameworks, avoiding greenwashing, and meeting stakeholder expectations. It can help businesses attract top talent, secure external investment, and future-proof operations, offering long-term value and competitive advantage. After speaking to Rosina Watson, Associate Professor of Sustainability at the Cranfield School of Management, IDEX Consulting shares strategic advice and practical tips on how businesses can get started and drive real value. (IDEX Consulting news, 'Expert insights: how businesses can drive value add sustainability')How's your mental health? Improve it with these tips- Prioritising mental health in the workplace is essential for enhancing employee well-being, engagement, and productivity. Research shows that employee burn out and stress is increasingly leading to attrition and dis-engagement. IDEX Consulting shares what businesses need to do now to prevent situations getting worse. (IDEX Consulting news, 'How's your mental health? Improve it with these tips')Mergers and AcquisitionsFidelius Group has acquired a minority stake in London-based independent financial adviser Vobis Ltd, marking a strategic move to expand its presence in the capital and enhance its wealth management services. (Momodou Musa Touray, 1/5/2025, Money Marketing, 'Fidelius takes minority stake in London IFA Vobis Ltd')Swedish wealth manager Söderberg & Partners has taken a 30% stake in Glasgow-based Murphy Wealth—its first Scottish investment—as part of its UK expansion strategy, which now includes over 20 minority stakes, including recent deals with George Square (£400m AUM), Cheltenham IFA (£290m), Bluezone Capital (£90m), and Alexander Bates Campbell (£140m). (Financial Planning Today, 16/4/2025, 'Swedes take stakes in 4 UK Financial Planning firms' & 'Söderberg takes 30% share in Glasgow's Murphy Wealth')Financial advice network Corbel Partners has acquired seven adviser firms this year—six from within its network—bringing its total to 13 as it targets 250 advisers by 2026; the Warrington-based firm offers a 'cradle-to-grave' model supporting adviser growth, succession, and retirement. (Financial Planning Today, 15/4/2025, 'Corbel Partners acquires 7 adviser firms')AAB Wealth, a Scotland-based Chartered Financial Planning firm, has acquired London-based Magus Wealth, adding £650m AUA to its total, which now stands at £1.8bn; the deal, subject to regulatory approval, marks AAB’s first wealth acquisition in London. Magus Wealth, founded in 1998 by Michael Aitken, has offices near Gatwick and in the City of London. (Financial Planning Today, 14/4/2025, 'AAB Wealth acquires £650m AUA London Planner')Benchmark Capital, owned by Schroders, has acquired the remaining minority stake in Harrogate-based Oculus Wealth Management, which has £4bn in AUA and 46 advisory firms; Benchmark initially acquired a 51% stake in December 2022, and since then, Oculus’s network of appointed representatives has grown by 80%, with significant asset growth. (Financial Planning Today, 14/4/2025, 'Benchmark buys remaining 49% of £4bn AUA Oculus')Westerby Group, which recently transitioned to an employee-ownership model, has acquired Manchester-based specialist pension provider and IFA firm Redswan, including its IFA business and trustee companies for SIPPs and SSAS; the acquisition, for an undisclosed sum, will see the businesses integrated into the Westerby Group. (Financial Planning Today, 11/4/2025, 'Westerby snaps up pension and IFA firm Redswan')Newcastle Financial Advisers, a subsidiary of Newcastle Building Society, has acquired County Durham-based Orchard Financial Management, founded in 1988 by Graeme Leigh, who sold the business to retire; the undisclosed deal adds Orchard's investment, pensions, and protection advice services to Newcastle Financial Advisers, which operates across the North East, Cumbria, and North Yorkshire. (Financial Planning Today, 10/4/2025, 'Newcastle Financial Advisers buys County Durham Planner')South East accountants and Financial Planning firm Carpenter Box is merging with East Sussex-based Clarke Brownscombe, which will continue to operate from Lewes and adopt the Carpenter Box brand later this year; Clarke Brownscombe clients will gain access to Carpenter Box’s Financial Planning services, including taxation, later life, estate planning, pensions, and investments. Directors Robert Scrivins and Vicky Anderson will become Partners, and six staff members will join Carpenter Box. (Financial Planning Today, 10/4/2025, 'Carpenter Box to merge with Sussex accountancy firm')Perspective Financial Group has completed nine acquisitions in 2024, adding £900 million in assets under advice (AUA) and significantly expanding its national presence. The acquired firms include Springfield Financial Services (Preston), Millfield Osceola Financial Consultancy (Twyford, Reading), Hawley & Wood (Rotherham), Fortitude Financial Planning (Towcester), Warwick Financial Solutions (Warwick), Edgmoor Financial Planners (Manchester), Keith Mason Wealth Management (Canterbury), a Teesside client bank, and a self-employed adviser buyout. These acquisitions bring Perspective's total to 102 since its founding in 2008, with £1 billion in AUA added in 2024 alone. (Financial Planning Today, 8/4/2025, 'Perspective boosts AUA by £900m with 9 acquisitions')Financial planner and wealth manager MKC Wealth has acquired Yodelar Investments Ltd and its platform Yodelar.com, adding £120 million in AUA and 270 high-net-worth clients. Yodelar Investments will operate under the MKC Wealth name, while Yodelar.com retains its brand. This acquisition brings MKC Wealth’s total AUA to £2.5 billion. (Financial Planning Today, 8/4/2025, 'MKC Wealth acquires £120m AUA Yodelar')Finli Group, formerly Solomon Capital Holdings, has acquired four financial planning firms—Beaufort Financial Taunton, Elaine Snow, Penny Smith, and Lifestyle Financial Choices—adding £220 million in assets under advice (AUA) across England and Scotland. These acquisitions bring Finli's total to 47, with over £5 billion in AUM and more than 100 financial planners serving over 20,000 clients. The firm aims to add £1 billion in assets annually and is open to acquiring adviser firms with at least £25 million in AUA. (Financial Planning Today, 7/4/2025, 'Finli adds 4 new Planner acquisitions')Wealth manager Quilter has acquired NHS pension analyst firm MediFintech, founded by Graham Crossley, for an undisclosed sum. Crossley, now Head of Technical Business Development at Quilter Financial Advisers, will help Quilter’s advisers and IFAs guide NHS clients through complex pension decisions. The acquisition enhances Quilter’s ability to deliver better outcomes for NHS pension clients. (Financial Planning Today, 7/4/2025, 'Quilter acquires former Planner's NHS pension consultancy')EQ Investors is exploring a potential sale, guided by corporate finance advisers, as Chairman John Spiers reevaluates ownership structures. Spiers believes a larger partnership could foster growth and innovation, especially with AI's impact on wealth management. The firm, which remains profitable, will only proceed if it benefits staff and clients. (Financial Planning Today, 4/4/2025, 'EQ Investors mulls potential sale')Movers7IM has appointed Nick Allen as Chief Integration Officer to lead the onboarding and harmonisation of acquisitions, bringing over 30 years' experience from roles including COO at Schroders Personal Wealth and Lloyds Banking Group. (Financial Planning Today, 1/5/2025, '7IM adds Schroders PW exec as acquisitions accelerate')Evelyn Partners has appointed Sean Hagerty as an Independent Non-Executive Director; he brings 27 years' experience from Vanguard, where he led European operations and launched its UK financial advice service, and has held senior advisory roles with the FCA, HM Treasury, and Investment Association. (Financial Planning Today, 1/5/2025, 'Former Vanguard European head joins Evelyn Partners')Former FCA Consumer Finance Director Roma Pearson, after nearly 30 years at the regulator, has joined compliance consultancy Square 4 Partners in a senior advisory role. At the FCA, she led initiatives on motor finance commission investigations, payday lending oversight, and consumer duty compliance. (Dan Cooper, 1/5/2025, Money Marketing, 'Former FCA director joins Square 4 Partners in senior advisory role')Cathryn Riley has stepped down from her role as Non-Executive Director at the Financial Services Compensation Scheme (FSCS) after completing a four-year term, effective 30 April 2025. During her tenure, Riley contributed to the FSCS's strategic oversight and governance. The FSCS is currently seeking a successor to fill the vacancy. (Dan Cooper, 30/4/2025, Money Marketing, 'FSCS non-exec director steps down after four-year term')Alastair Black, Head of Savings Policy at Abrdn, has announced his retirement after a 35-year career in financial services, including 22 years at Abrdn and its predecessor, Standard Life. He joined the company in 2002 as a Business Development Manager and held various roles encompassing strategy, proposition development, project delivery, policy affairs, risk management, and pricing in long-term savings and investments. Black described his career as an "incredible journey" and plans to remain active in the industry through advisory work. (Dan Cooper, 30/4/2025, Money Marketing, 'Aberdeen’s Alastair Black announces retirement after 35 years in financial services')Wealth Manager TrinityBridge has appointed Andrew Knight as Client Relationship Director for Scotland; a 25-year veteran of the firm and former Financial Planning Director, he will support its regional growth ambitions. (Financial Planning Today, 29/5/2025, 'TrinityBridge FP head becomes Scotland director')Former professional rugby player and Chartered Financial Planner Jason Baggott will co-lead Tweed Wealth Management’s new sports division, bringing his unique blend of elite sports experience and financial expertise; after a seven-year rugby career with teams including Southern Kings and Edinburgh Rugby, he earned a degree in economics and finance from Heriot-Watt University, completed the St. James’s Place Academy Programme, and joined Tweed in 2021. (Financial Planning Today, 28/4/2025, 'Rugby star to lead wealth manager’s sports division')CISI has appointed Hylko Zingstra, Founder of Munehisa & Co and a derivatives specialist, as South East branch president, succeeding Suneeta Puranik; he plans to boost collaboration, innovation in alternatives, and support for new talent in the region. (Financial Planning Today, 22/4/2025, 'CISI appoints new south east president')Evelyn Partners has appointed former Paysafe and Betfair CFO Alex Gersh as its new CFO and Executive Director, succeeding Andrew Baddeley, who becomes CFO of S&W following its sale; Gersh brings over 30 years’ experience, including senior roles at Sportradar, Flutter, and Motorola. (Financial Planning Today, 22/4/2025, 'Evelyn appoints new CFO after splitting business')Raymond James and Charles Stanley have appointed Kim Jenson as interim CEO, following the resignation of Paul Abberley; Jenson, formerly COO of Raymond James’ US Private Client Group with $1.5trn in AUM and over 1.5 million clients, will oversee the UK wealth management business while a search for a permanent CEO is underway. She previously held senior roles at UBS Wealth Management Americas and spent 15 years at Piper Jaffray, including serving on the private client business executive committee. (Financial Planning Today, 15/4/2025, 'Raymond James Wealth Management appoints new CEO')Carla Brown, President of The Personal Finance Society (PFS), has taken on the additional role of Chair, replacing Christine Elliott, who stepped down after only eight months; Brown is a Chartered Financial Planner, Managing Director of Oakmere Wealth Management, and Director at CL Wills and Estate Planning. (Financial Planning Today, 15/4/2025, 'PFS appoints new chair as incumbent Elliott exits')Nikhil Rathi has been reappointed as Chief Executive of the Financial Conduct Authority for a second five-year term, extending his tenure until 2030; he originally joined the regulator in October 2020, and his reappointment was confirmed by Chancellor Rachel Reeves as crucial for delivering key regulatory reforms. (Financial Planning Today, 10/4/2025, 'FCA CEO Rathi reappointed for second 5-year term')Wesleyan Financial Services has appointed Paul McMahon, former CEO of FNZ, as a Non-Executive Director. With over 40 years of experience, McMahon has held senior roles at Zurich, AXA Sun Life, and FNZ, and founded his own advisory business in 2013. He will also become Chair of Wesleyan Unit Trust Managers, pending regulatory approval, succeeding Ian McCaig. This appointment supports Wesleyan's strategy to enhance digital capabilities and expand services for doctors, dentists, and educators. (Financial Planning Today, 3/4/2025, 'Wesleyan adds former FNZ CEO to board')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 25th April 2025

Insurance NewsAndy Fairchild, CEO for M&A IDEX Consulting announces fresh approach to M&A - IDEX Consulting has appointed Andy Fairchild as CEO for M&A, announcing a fresh approach to mergers and acquisitions. With UK broker deals slowing down, Q1 2025 saw just 19 transactions—the lowest since Q2 2020. Fairchild stresses the importance of adopting a more strategic and sustainable method for deal-making in today’s changing market landscape. (IDEX Consulting news, 'Andy Fairchild, CEO for M&A IDEX Consulting announces fresh approach to M&A')Expert insights: how businesses can drive value add sustainability - Dr. Rosina Watson, Associate Professor of Sustainability at Cranfield School of Management, shares insights on aligning business practices with sustainability frameworks, avoiding greenwashing, and meeting regulatory demands. She also discusses how sustainability can enhance a company’s competitiveness by attracting talent, clients, and investors. (IDEX Consulting news, 'Expert insights: how businesses can drive value add sustainability')Propel your career as an Insurance Underwriter - The role of an insurance underwriter involves balancing risk and profitability by assessing factors such as age, health, occupation, and claims history to determine appropriate premiums. Strong analytical skills, attention to detail, and the ability to make informed decisions under pressure are crucial. Effective communication with clients, brokers, and internal teams is also key. Additionally, embracing technology is increasingly vital for improving underwriting accuracy and efficiency. (IDEX Consulting news, 'Propel your career as an Insurance Underwriter')M&A buy and sell expert insights - IDEX Consulting's recent webinar "M&A Buy and Sell Strategies", highlights that despite looming tax increases, the UK M&A market remains active. Experts advise business owners planning to sell in the next 3–5 years to start exit planning early. Deal timelines are lengthening due to thorough due diligence, impacting pricing. Sellers should focus on financial preparation and consider deal structures to minimize tax. With Capital Gains Tax and BADR rising, early action is crucial. Regulatory changes in data privacy and ESG disclosures will also require proactive measures. (IDEX Consulting news, 'M&A buy and sell expert insights')Tysers and Specialist Risk Group (SRG) have agreed for Tysers’ credit & political risk re/insurance team, led by John Lentaigne, to join SRG following a strategic review. The transition will occur over time, with both firms ensuring uninterrupted client service during the handover. Existing policies, transactions, and claims are expected to transfer to SRG. Tysers CEO Tom Wilson said the move was made possible by SRG’s commitment to the team’s future. (Josh Recamara, 25/4/2025, Insurance Business, 'Tysers to transition credit & political risk reinsurance team to SRG')Global commercial insurance rates fell 3% in Q1 2025—the third consecutive quarterly drop—according to Marsh’s Global Insurance Market Index. Increased insurer competition continues to drive declines across all regions and major product lines. The UK and Pacific saw the steepest falls (6% and 8%), while US rates dipped 1%. Buyers are capitalising on the softening market to secure better terms and explore alternative risk transfer options. (Jonalyn Cueto, 24/4/2025, Insurance Business, 'Global commercial insurance rates continue decline in Q1 2025')The Chartered Insurance Institute of Nigeria (CIIN) is strengthening ties with Nigerian insurance professionals in the UK as part of its global strategy, according to a statement by CIIN President Mrs Yetunde Ilori during her first virtual forum with UK-based members. Ilori called for “stronger collaboration” and outlined plans to engage diaspora expertise in shaping Nigeria’s domestic insurance sector. (Matthew Sellers, 24/4/2025, Insurance Business, 'Nigeria targets UK insurance industry')Amphitrite Underwriting London has secured an additional $40 million in capacity for its marine war insurance offering, backed by Lloyd’s. The move responds to increased demand driven by rising geopolitical risks and the need for specialised coverage. Led by Ben Jones, Head of the Marine War division since 2020, the expanded coverage offers more flexibility for brokers and clients, covering vessel damage, loss of hire, and drug seizure for clients in conflict-prone regions. (Josh Recamara, 24/4/2025, Insurance Business, 'Amphitrite Underwriting secures $40 million for marine war insurance offering')Chubb reported Q1 2025 net income of US$1.33 billion and core operating income of US$1.49 billion, down from US$2.14 billion and US$2.16 billion, respectively, in the same period last year. The decline was driven by US$1.64 billion in pre-tax catastrophe losses, primarily from California wildfires, which accounted for US$1.47 billion. P&C underwriting income reached US$441 million, with a combined ratio of 95.7%. Excluding catastrophe losses, current accident year underwriting income rose 12.2% to US$1.83 billion. (Kenneth Araulo, 23/4/2025, Insurance Business, 'Chubb highlights destructive California wildfires in first-quarter earnings')The Chartered Insurance Institute (CII) has recommended clear accountability frameworks and a sector-wide skills strategy for AI in financial services, in a submission to the Treasury Select Committee. Representing over 120,000 professionals, the CII emphasized that individuals and institutions must remain accountable for AI-driven decisions and outcomes. It called for mandatory validation of AI algorithms, transparency in testing results, and broader education on AI risks. (Kenneth Araullo, 23/4/2025, Insurance Business, 'CII calls for AI regulation')Apollo and Moonrock have launched an insurance facility for drones, eVTOL aircraft, and aviation innovations, offering up to $100 million in liability coverage and $22.5 million in property damage cover. Managed by Moonrock, with backing from Apollo and others, the facility targets individual drones, fleets, and emerging sectors like eVTOL. This expansion builds on Apollo’s 2024 inclusion of drone product liability, addressing rising demand as drone use grows. (Josh Recamara, 23/4/2025, Insurance Business, 'Apollo and Moonrock further tie-up for drone insurance')Mergers and AcquisitionsThe Ardonagh Group has acquired SRB Assekuranz Broker AG, a Swiss industrial insurance specialist managing €120 million in premiums, according to a company news release. Founded in 1980, SRB will continue under CEO Edoardo Leusciatti and join Ardonagh’s MDS Group platform. The firm, with offices in Switzerland and Liechtenstein, has been part of the Brokerslink network since 2007, where Leusciatti serves on the board. (Jonalyn Cueto, 24/4/2025, Insurance Business, 'Ardonagh acquires SRB Assekuranz')JMG Group has expanded its UK insurance presence with three acquisitions by its subsidiaries GS Group, Greenwood Moreland, and Lighthouse Risk Services. GS Group acquired W K Insurance, a Scottish commercial broker, bringing on seven staff, including new Managing Director Scott King. Greenwood Moreland acquired UKI Direct, a York-based SME broker, adding £2.5 million in GWP, while Lighthouse acquired TSE Solutions, a Leeds-based risk management firm, strengthening its health and safety capabilities. (Kenneth Araullo, 23/4/2025, Insurance Business, 'JMG Group expands UK presence with trio of acquisitions')Admiral Group has agreed to sell its US motor insurance operations, including Elephant Insurance, to private investment firm J.C. Flowers & Co., pending regulatory approval. The transaction, expected to close in Q4 2025, is valued at approximately Elephant’s net asset value. Elephant, based in Virginia, provides digital car insurance tools in the US. Costantino Moretti of Admiral said the sale aligns with the company’s focus on its UK and European operations. (Josh Recamara, 23/4/2025, Insurance Business, 'Admiral Group agrees to sell US motor insurance operations')Alan Boswell Group (ABG) has acquired Andrew Thompson & Associates (AT&A), expanding its presence in Suffolk. AT&A will remain operational, offering clients access to ABG’s broader services. ABG’s Chairman, Alan Boswell, welcomed AT&A’s team, confident they will positively contribute to the group. (Josh Recamara, 22/4/2025, Insurance Business, 'Alan Boswell Group buys Andrew Thompson & Associates')MoversAXA’s board will propose renewing Thomas Buberl’s mandate as Director and CEO at the 2026 shareholders’ meeting, citing his leadership since 2016 and the group’s strategic shift toward core insurance. Previously CEO of AXA Germany and a member of AXA’s management committee, Buberl welcomed the board’s support and noted the company’s strengthened resilience. (Josh Recamara, 24/4/2025, Insurance Business, 'AXA's board intends to reappoint Buberl as CEO')Xceedance, a global provider of insurance services, has appointed Gavin Lillywhite as SVP and operating leader for UKI and Europe. With over 30 years in the London, Lloyd’s and Company markets, Lillywhite brings expertise in underwriting, broking, and client management. He will support clients amid a challenging rate environment. (Josh Recamara, 24/4/2025, Insurance Business, 'Insurance moves: Xceedance, Broadstone and Brit Group')In further news...Xceedance has appointed Subramanian Sankaran as Global Chief Operating Officer to strengthen its operational structure and support global expansion. With over 30 years of experience in global operations across industries including insurance and healthcare, Sankaran has held senior roles at Wipro, Accenture, GE Capital, and Pfizer, managing global teams and client portfolios. This appointment aligns with the company’s long-term growth strategy. (Josh Recamara, 22/4/2025, Insurance Business, 'Xceedance names new global COO')Broadstone has appointed Lindsay Kenny as SME Business Development Consultant. With over 15 years’ experience in employee benefits and business development, including at Towergate, Kenny will focus on creating tailored solutions to boost engagement for SME clients. Her appointment supports Broadstone’s growth strategy in employee benefits consulting. (Josh Recamara, 24/4/2025, Insurance Business, 'Insurance moves: Xceedance, Broadstone and Brit Group')Brit Group Holdings has appointed Jonathan Mudd as Active Underwriter for Syndicate 2988. Mudd, with the company since 2003, will retain his role as Managing Director for financial lines and cyber while taking on new responsibilities for the syndicate, which wrote £181 million in premiums in 2024. His appointment follows his previous position as Deputy Active Underwriter (Josh Recamara, 24/4/2025, Insurance Business, 'Insurance moves: Xceedance, Broadstone and Brit Group')Helix Underwriting Partners Ltd has appointed Kevin Copeland as Chief Financial Officer, a newly created role, effective April 1, 2025. With over 25 years of experience in reinsurance, insurance, and investment, Copeland joins from Our Kettle Inc., where he remains a Senior Advisor and Director. He has also held key roles at James River Group and Bermuda-based re/insurance entities owned by James River, Tokio Marine, and Argo Group. (Josh Recamara, 23/4/2025, Insurance Business, 'Insurance moves: Helix Underwriting, Nexus Underwriting, Polo Managing and Global Aerospace')Nexus Underwriting, part of the Brown & Brown group, has appointed Ana Ortega Lamaignère as Broker and Partner Manager for Spain in its European trade credit business. With significant experience in banking and broking, including her recent role as Sales Manager at Coface Global Solutions in Spain, Ortega Lamaignère will help strengthen Nexus's presence in the European trade credit market amid growing demand for tailored credit insurance solutions. (Josh Recamara, 23/4/2025, Insurance Business, 'Insurance moves: Helix Underwriting, Nexus Underwriting, Polo Managing and Global Aerospace')Polo Managing Agency has appointed Gordon Reid as Operational and New Business Manager. With over a decade of experience in the Lloyd’s market, Reid joins from Lloyd’s, where he was Head of Account Management. He also brings experience from Beazley and GlaxoSmithKline. Reid will support Polo’s growth, focusing on operational and new business activities while strengthening relationships with Lloyd’s and clients. (Josh Recamara, 23/4/2025, Insurance Business, 'Insurance moves: Helix Underwriting, Nexus Underwriting, Polo Managing and Global Aerospace')Global Aerospace has announced the retirement of Michael Bannon, Chief Underwriting Officer for Europe, effective June 30, 2025. With a 40-year career in broking and underwriting, Bannon has been with the company since 2009. Gareth Howell, currently Underwriting Director, will succeed Bannon as Chief Underwriting Officer for Europe, bringing over 23 years of experience in aviation insurance. (Josh Recamara, 23/4/2025, Insurance Business, 'Insurance moves: Helix Underwriting, Nexus Underwriting, Polo Managing and Global Aerospace')Verve Risk Services has appointed Gordon Steward as Head of Forestry to expand its mid-market MGA operations. Steward will focus on underwriting forestry risks for SMEs across Latin America, Southeast Asia, Australia, New Zealand, and South Africa, developing a specialty portfolio with traditional and parametric solutions. He brings nearly 40 years of experience, having previously served as Managing Director, forestry, at DUAL Group. (Kenneth Araullo, 22/4/2025, Insurance Business, 'Insurance hires: Verve Risk Services, Westfield Specialty, Pen Underwriting')Westfield Specialty International has appointed Mark Benbow to lead its new fine art and specie team. Based in London, Benbow brings over 35 years of experience, including 13 years at AXIS in its fine art and specie underwriting unit. (Kenneth Araullo, 22/4/2025, Insurance Business, 'Insurance hires: Verve Risk Services, Westfield Specialty, Pen Underwriting')Pen Underwriting has appointed Lorraine Malcolm as Senior Underwriter for Scotland within its Commercial Risk Managed team, effective April 22. Based in Glasgow, Malcolm brings over 30 years of experience in commercial underwriting, including roles at Allianz, Aviva, and Axa, where she managed complex risks and developed delegated authority schemes. She will support brokers and clients across the UK. (Kenneth Araullo, 22/4/2025, Insurance Business, 'Insurance hires: Verve Risk Services, Westfield Specialty, Pen Underwriting')Ecclesiastical is expanding its operations in Scotland, doubling its Scottish team and opening a new office in Glasgow to support growth. Alexander Connon has joined as Development Account Manager, working with Gerard Hamilton and Caroline Quinn, with another development underwriter joining in May. The new office, part of Ecclesiastical’s northern region, will enhance in-person engagement with brokers and clients. The company also reported a profit before tax of £82.5 million for 2024, nearly doubling its 2023 results. (Kenneth Araullo, 22/4/2025, Insurance Business, 'Ecclesiastical doubles Scottish team with new Glasgow office')Andrew Cutler will step down as CEO of Britannia Group at the end of 2025, after leading the company since 2012. Cutler, who joined Britannia in 2006, expanded operations in Europe and Asia and managed Brexit-related regulatory changes. Deputy CEO Mike Hall, with the company since 2008, will succeed him. Cutler plans to pursue non-executive roles after nearly 20 years with Britannia. (Josh Recamara, 22/4/2025, Insurance Business, 'Britannia Group CEO to step down')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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General Insurance newsletter Thursday 17th April 2025

Insurance News'AI: The drive for growth and productivity in the professional services market' event - Join IDEX Consulting in Manchester on Thursday, May 1st (08:30–09:30am) for 'AI: The Drive for Growth and Productivity in the Professional Services Market', hosted by our General Insurance MD, Paul Davey. Hear from experts Richard Nicholas, Martin Robert Hall, John McClelland and Gregg Williams as they explore how to integrate AI tools, upskill teams, and lead through change—covering real-world challenges, success stories, and practical strategies. Register here. (IDEX Consulting news, 'AI: The drive for growth and productivity in the professional services market event')2025 Insurance regulatory changes for UK and US insurers and brokers - In 2025, UK and US insurers face tighter rules on data privacy, climate disclosures, and customer outcomes, with the UK expanding Consumer Duty and algorithm transparency, while the US strengthens data security and adopts state-level climate reporting standards. (IDEX Consulting news, '2025 Insurance regulatory changes for UK and US insurers and brokers')Improve your talent retention - Supporting employees during periods of absence, such as sickness or parental leave, is crucial for retention. Without proper support, businesses face high turnover costs, averaging £30,614 per employee in the UK. Providing clear guidance and assistance before, during, and after leave helps maintain employee engagement and reduces the risk of losing valuable staff. (IDEX Consulting news, 'Improve your talent retention')The AI insurance tools to be aware of - AI tools are transforming the insurance profession by improving operational efficiency, risk assessment accuracy, underwriting, and customer service, with technologies like large language models, predictive analytics, and telematics reducing processing times, enhancing fraud detection, and offering more personalised rates. (IDEX Consulting news, 'The AI insurance tools to be aware of')Enhance your employability with these tips - In 2025, the general insurance sector focuses on refining Employer Value Propositions (EVPs) to attract top talent, with flexibility and adaptability being key. Employees are encouraged to embrace AI, Machine Learning, and Data Management to stay relevant in the evolving industry. (IDEX Consulting news, 'Enhance your employability with these tips')Travelers' Q1 net income fell to $395M (from $1.123B) due to $2.27B in catastrophe losses from the Jan 2025 California wildfires, though improved underwriting and investment gains partially offset the impact. (Rod Bolivar, 17/4/2025, Insurance Business, 'Travelers reports financial strain after wildfires')AEGIS London has doubled the capacity of its digital terrorism insurance product SHIELD (Terror) to US$500m, raised the active assailant sub-limit to US$1m, and expanded its reach to serve larger US businesses via surplus lines brokers through its OPAL platform. (Kenneth Araullo, 16/4/2025, Insurance Business, 'AEGIS London doubles digital terrorism cover capacity')Six firms—including Eva Capital Management, Ocaris Wealth Management, One Four Nine Wealth, Parker Kelly Financial Services, Path Financial Ltd and Sentio Insurance Brokers—achieved Chartered status from the CII in early 2025, reflecting commitments to ethics, client focus, and professional development in wealth management, insurance, and ethical investment advice. (Kenneth Araullo, 16/4/2025, Insurance Business, 'Six new firms gained Chartered status from CII in early 2025')The Green Insurer has partnered with Carbon Neutral Britain to offset customers’ driving emissions by funding seven global carbon offset projects, including renewable energy, reforestation, and solar initiatives, following its own Carbon Neutral certification last year. (Josh Recamara, 16/4/2025, Insurance Business, 'The Green Insurer partners with Carbon Neutral Britain to offset carbon emissions')UK insurtech Marshmallow has raised US$90m in equity and debt from Portage, BlackRock, and Columbia Lake Partners to expand its product range and enter new markets, following growth to over 1 million drivers insured and a US$2bn valuation. (Kenneth Araullo, 15/4/2025, Insurance Business, 'UK insurtech Marshmallow gets funding boost to go global')Aon’s Q4 2024 Global Insurance Market Insights report highlights a buyer-favorable environment in the UK, with declines in cyber, D&O, and property pricing, while automobile rates continued to rise at a slowing pace; insurer capacity remains sufficient, though challenges persist in US-exposed sectors like property and casualty. (Rod Bolivar, 14/4/2025, Insurance Business, 'UK insurance pricing eases - Aon')RSA Insurance plans to rebrand as Intact Insurance by the end of 2025, aligning with its Canadian parent, Intact Financial Corporation, as part of a broader strategy to unify its global operations under a single identity following its acquisition in 2021 and the 2024 consolidation of RSA, NIG, and FarmWeb. (Jonalyn Cueto, 14/4/2025, Insurance Business, 'RSA Insurance to rebrand by end of 2025')According to recent reports from the Central Bank and the Injuries Resolution Board, insurers in Ireland are maintaining high profit margins, with a 13% profit margin in 2023, double the international benchmark, as personal injury claims fall by one-third since 2019 and award values decline by 20-30% following the 2021 Judicial Guidelines; liability premiums rose 4% in 2023, and litigation continues to dominate claims resolution despite higher legal costs compared to board settlements. (Josh Recamara, 14/4/2025, Insurance Business, 'Insurers in Ireland maintain high profit margins - report')The Chartered Institute of Loss Adjusters (CILA) plans to modernise its structure and expand internationally, focusing on adapting to emerging risks like cyber threats, climate change, and supply chain disruptions. The proposed membership overhaul aims to include a wider range of professionals, including those transitioning from other sectors, and businesses within its governance framework for broader representation. (Josh Recamara, 14/4/2025, Insurance Business, 'CILA unveils plans to modernise structure and expand global reach')Mergers and AcquisitionsOptio Group has acquired Norwegian marine hull MGA S Insurance AS, with Directors Gary Sangedal and Marianne Engelsen Hals continuing to lead the team, as part of Optio’s strategy to build a diversified specialist MGA platform across Europe. (Rod Bolivar, 17/4/2025, Insurance Business, 'MGA joins Optio in expansion move')Markel has agreed to acquire marine-focused MGA The MECO Group, which operates in London, Dubai, and Shanghai and reported US$63m in GWP for 2024; the deal, pending regulatory approval, will expand Markel’s product range and client reach in key maritime markets. (Roxanne Libatique, 16/4/2025, Insurance Business, 'Markel acquires specialist MGA to expand marine insurance reach')Belgian insurer Ageas has agreed to acquire esure from Bain Capital for £1.295bn, enhancing its UK personal lines presence and distribution capabilities as part of its Elevate27 plan, with the deal expected to close in H2 2025, forming the third-largest personal lines insurer in the UK. (Roxanne Libatique, 14/4/2025, Insurance Business, 'Ageas snaps up esure in near £1.3 billion UK deal')UK-based digital insurance provider Ripe has acquired GJW Direct from Munich Re Specialty, integrating one of the country’s oldest marine insurance brands into its tech platform to expand its presence in specialist markets and consolidate a significant share of the UK leisure boat insurance market. (Rod Bolivar, 14/4/2025, Insurance Business, 'Ripe advances digital strategy with GJW acquisition')MoversH&H Insurance Brokers and H&H Land & Estates have appointed Paul Graham as Managing Director of both businesses; he previously served as MD of H&H Insurance Brokers (2018–2024), Operations Director (2014–2018), and most recently MD of H&H Land & Estates since April 2025 following a brief stint as Senior MD. (Rod Bolivar, 17/4/2025, Insurance Business, 'H&H and TMK appoint new leaders')Tokio Marine Kiln (TMK) has appointed Oliver Delaney as Head of Liability; a 14-year TMK veteran, he previously served as Divisional Head and played a key role in growing the firm’s international liability portfolio. (Rod Bolivar, 17/4/2025, Insurance Business, 'H&H and TMK appoint new leaders')Loadsure has strengthened its executive team with several key hires to drive innovation in freight insurance. Carl Pearse joins as Chief Technology Officer from Super Payments, while Tara Farrer becomes Chief of Staff after serving as SVP of Operations at APEXX Global. Prathap Chandran, formerly of Meta and Liquidnet, steps in as EVP of Data, and Jeremy Davis, ex-COO at Umbra Capital Partners, takes on the role of EVP of Strategy. Daisy Dong, who held senior product roles at bolttech, is appointed EVP of Product, and David Goldberg, who previously led marketing at Cover Whale, joins as EVP of Marketing. Kristy Neal, formerly with Cover Whale, Overhaul, and Marsh, becomes Head of Growth. Rounding out the team are Matthew Dybus, former Liberty Mutual cargo underwriter, as VP of Ocean Marine; Brian Hanuschak, previously with AIG and Risk Placement Services, as VP of Inland Marine; and Michael Kennedy, Founder of RFP Lab and Freighttech.net, as VP of Partnerships. (Kenneth Araullo, 15/4/2025, Insurance Business, 'Loadsure bolsters executive team to support freight innovation')DUAL Europe has opened a marine underwriting hub in Hamburg—its third in two years—led by Klaus Weber, joining from the GDV and IVR; Underwriters Steffen Thormann and Tereza Alisch also join. In a separate move, Samia Baliad, formerly of AIG, AXA, Chubb, and AXA Partners, has been appointed to lead a new Accident & Health division as part of the firm’s broader specialist market expansion. (Josh Recamara, 15/4/2025, Insurance Business, 'DUAL Europe opens new marine underwriting hub in Hamburg')Atec Group has appointed Max Bullen-Smith as Head of M&A to lead its acquisition-driven growth strategy; he joins from Ardonagh Specialty, where he held the same role, and has also served as Investment Director and Head of Special Projects at Ardonagh, as well as holding roles at Cavendish and starting his career as an Investment Analyst. This appointment follows a private equity investment from Perwyn earlier this year. (Josh Recamara, 15/4/2025, Insurance Business, 'Atec Group appoints new head of M&A from Ardonagh Specialty')UK-based insurance broker Partners& has restructured its general insurance division, introducing nine new roles overseen by Ewan MacDonald and Lee Davey; eight of the positions were filled by internal promotions, including five graduates of the Partners& Leadership Academy, which has been CII-accredited for two years. (Josh Recamara, 14/4/2025, Insurance Business, 'Partners& restructures general insurance division')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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