General Insurance newsletter Friday 9th May 2025

Insurance News

Optimise 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 Acquisitions

Shape 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')

Movers

Rokstone 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')