General Insurance newsletter Friday 11th July 2025

Insurance News

Unlocking AI's potential in professional services: insights from experts - In IDEX Consulting’s latest AI event experts share key advice on how to get started with AI, practical adoption strategies, how to mitigate ethical risks and most importantly how to engage teams throughout the AI journey. Watch the event recap video for simple but effective advice. (IDEX Consulting news, 'Unlocking AI's potential in professional services: insights from experts')
The future insurer and MGA partnership- What will the MGA and insurer relationship look like in the future? And how can they work together to drive innovation, growth and new products and services for customers. Read IDEX Consulting’s article on the insurer and MGA model. (IDEX Consulting news, 'The future insurer and MGA partnership')
How to attract top risk and compliance talent - With an increased number of cyber attacks, it’s paramount that insurers continue to implement robust security measures, including; multi-factor authentication, regular cyber hygiene training, and comprehensive incident response plans. Specialist risk and compliance talent can help with this, learn how to attract the best in the market. (IDEX Consulting news, 'How to attract top risk and compliance talent')
How IDEX Consulting can support your growth ambitions - Looking to grow your business into new territories, product lines, or perhaps you just need to optimise efficiencies? IDEX Consulting have a team of experts with over 150 combined years of experience enabling businesses to reach their growth goals. Learn what solutions they offer. (IDEX Consulting news, 'How IDEX Consulting can support your growth ambitions')
Domestic & General (D&G) reported strong 2024 financial results, with a 13.5% rise in adjusted EBITDA to £162 million, driven by a 6% revenue increase to £1.2 billion, robust UK subscription retention (86%), and significant US growth, where the customer base nearly tripled to 284,000 and subscription revenue more than tripled, achieving profitability ahead of expectations. (Kenneth Araullo, 11/7/2025, Insurance Business, 'D&G highlights US expansion and strong UK core in 2024 results')
The British Insurance Brokers’ Association (BIBA) reported a 6% rise in operational turnover to £8.5 million in 2024, alongside increased member engagement through initiatives like recruitment support, mental wellbeing services, and a talent program, while event participation grew significantly, including a 7% rise in attendance at The BIBA Conference 2024. (Josh Recamara, 11/7/2025, Insurance Business, 'BIBA reports revenue growth and increased member activity')
Aon has launched the Data Center Lifecycle Insurance Programme, offering up to $1.5 billion in integrated coverage for construction risks, operational property damage, and business interruption, addressing the growing complexity of data center projects driven by AI and cloud infrastructure. (Jonalyn Cueto, 10/7/2025, Insurance Business, 'Aon unveils new data centre insurance programme')
Four individuals, aged 17-20, were arrested in connection with ransomware attacks on Marks & Spencer, Harrods, and Co-op, causing £300 million in damages and triggering a £100 million cyber insurance claim led by Allianz and Beazley, highlighting growing cyber threats to insurers and businesses. (Matthew Sellers, 10/7/2025, Insurance Business, 'Four arrested in M&S cyber case as insurers confront expanding digital threat')
Close Brothers Group is exiting personal lines insurance lending, focusing solely on commercial lines, severing ties with brokers in personal lines, and reducing its premium finance loan book by 30% over three years, aiming for £20 million in annual cost savings amidst regulatory scrutiny and a pivotal Supreme Court case. (Matthew Sellers, 9/7/2025, Insurance Business, 'Close Brothers dumps brokers in shock retreat from personal lines')
Acrisure has completed the rebranding of Universalis to Acrisure Portugal Insurance Broker after a two-year integration, retaining its leadership, operational model, and client relationships while continuing to serve over 25,000 clients across 12 offices in Portugal. (Rod Bolivar, 9/7/2025, Insurance Business, 'Acrisure finalises Portugal rebrand of Universalis')

The ISC Group has launched "The Circle of Influence," an exclusive, invitation-only network for women leaders in insurance, aimed at fostering collaboration, enhancing boardroom impact, and driving industry change through workshops, strategic advice, and curated experiences. (Jonalyn Cueto, 9/7/2025, Insurance Business, 'ISC Group launches exclusive network for women leaders in insurance')
Markel Insurance has launched pre-incident services for Cyber360 policyholders in the UK, including legal consultations, privacy policy reviews, and cyber risk assessment tools, to enhance preparedness for cyber threats and ensure compliance with data regulations. (Rod Bolivar, 9/7/2025, Insurance Business, 'Markel rolls out cyber support services')
Aon's 2025 Global Construction Insurance and Surety Market Report highlights a "cautiously optimistic" outlook as demand grows for infrastructure, energy, and high-tech projects. However, macroeconomic challenges, climate risks, and liability concerns create a bifurcated market, with lower-risk projects benefiting from favourable terms while higher-risk ones face stricter conditions and rising premiums. (Matthew Sellers, 8/7/2025, Insurance Business, 'Insurers "cautiously optimistic" as global construction booms – Aon')
According to Insuramore, the global insurance broking market reached $180 billion in fees and commissions in 2024, an 8.1% increase from the previous year, driven by M&A activity and growth in reinsurance and wholesale broking. The top 15 broking groups, led by Marsh McLennan, Aon, and Gallagher, now control 48.7% of the market, reflecting ongoing consolidation. (Jonalyn Cueto, 7/7/2025, Insurance Business, 'Global insurance broking market hits US$180bn')
Howden has partnered with Lawrence Stephens to launch a first-of-its-kind crypto theft insurance solution, combining insurance coverage with legal asset recovery services. The offering integrates legal expertise, forensic recovery, and access to cryptocurrency vendors, addressing the growing risks of digital asset theft. This innovative service aims to provide end-to-end support for clients navigating the complexities of the crypto ecosystem. (Jonayln Cueto, 7/7/2025, Insurance Business, 'Howden partners up to launch crypto theft insurance solution')
Artificial intelligence is transforming the insurance industry, moving from reactive processes to predictive and continuous risk management, according to insights from industry leaders like AllDigital Specialty Insurance and Swiss Re. AI is enabling faster decision-making, enhanced underwriting, and real-time collaboration, while also driving productivity gains of up to 20%, as noted in reports by McKinsey and Deloitte. However, experts emphasise the need for robust governance and upskilling to ensure AI remains a powerful assistant rather than a replacement. (Matthew Sellers, 7/7/2025, Insurance Business, 'Not just a tool – a transformation': How AI is rewriting the insurance playbook')

Mergers and Acquisitions

PIB Group has decided to step back from acquisition talks, including advanced discussions with Gallagher, and instead secured £400 million in debt financing to support its growth across Europe. This move ends a strategic review by private equity sponsors Apax Partners and The Carlyle Group, who had initially explored a sale. PIB plans to focus on organic and acquisitive growth, leveraging its strong cash flow and acquisition track record to expand its position as a leading independent insurance broker in Europe. (Matthew Sellers, 10/7/2025, Insurance Business, 'Gallagher jilted in PIB acquisition')
JMG Group has acquired Profile Insurance Services, marking its 50th acquisition since its 2020 management buyout; the London-based brokerage, known for its high-net-worth and commercial client base, will retain operational independence while benefiting from JMG’s centralised support and resources. (Rod Bolivar, 10/7/2025, Insurance Business, 'JMG Group completes acquisition of Profile Insurance Services')
Barnett Waddingham has acquired specialist consultancy Risk Evolves to enhance its advisory services in cyber security, data privacy, ESG, and regulatory compliance. The acquisition formalises a long-standing partnership, integrating Risk Evolves' team into BW and strengthening its position in the professional services sector. (Jonalyn Cueto, 8/7/2025, Insurance Business, 'Barnett Waddingham bolsters risk and resilience with key acquisition')
According to WTW's Quarterly Deal Performance Monitor, Europe and Asia-Pacific are leading global M&A activity in 2025, with European acquirers outperforming their index by 9.4 percentage points and Asia-Pacific buyers by 3.9 points. In contrast, North America continues to face a slump, with deal volumes down 55% over four years. Globally, 339 deals over $100 million were completed in the first half of 2025, reflecting resilience despite geopolitical and economic volatility. (Jonalyn Cueto, 7/7/2025, Insurance Business, 'Europe and Asia-Pacific outpace North America in global M&A uptick')
Athora Holding has announced the acquisition of Pension Insurance Corporation Group (PICG) for £5.7 billion, marking a significant expansion into the UK market. PIC will become Athora’s UK insurance subsidiary, retaining its brand and focus on the defined benefit pension market. The deal, supported by institutional investors like Apollo Global Management and ADIA, will enable PIC to grow its pension risk transfer business and invest further in UK housing and infrastructure. The transaction is expected to close in early 2026, pending regulatory approval. (Josh Recamara, 7/7/2025, Insurance Business, 'Athora Holding acquires Pension Insurance Corporation Group for £5.7 billion')

Movers

Allianz Commercial has confirmed two permanent UK leadership appointments: Graham Stait, with over 17 years at Allianz in claims, operations, and trading, is now Director UK Markets, overseeing mid-market distribution, trading performance, and broker engagement; and Luke Baker, with nearly 25 years of experience in broking and underwriting, is appointed Director UK Global and UK Branch Manager of Allianz Global Corporate & Specialty SE, bringing expertise in large corporate risks and international markets. (Josh Recamara, 11/7/2025, Insurance Business, 'Insurance moves: Allianz, Reassured and Everest')
Everest Insurance International has named Mark Shaw as its Chief Commercial Officer. Shaw, who joined the company in 2022, brings over 20 years of experience in underwriting, distribution, and commercial strategy. In his new role, he will lead the firm's international distribution strategy, strengthen broker and client relationships, and oversee the growth of the distribution leadership team. (Josh Recamara, 11/7/2025, Insurance Business, 'Insurance moves: Allianz, Reassured and Everest')
Liberty Specialty Markets (LSM) is entering the UK high net worth (HNW) insurance market, appointing Benjamin Faerestrand, a 15-year industry veteran with experience at Chubb and as an Art and Private Client Development Underwriter, as HNW Household Underwriter to develop a Lloyd’s-based proposition, focusing on bespoke coverage for high-value assets, broker relationships, and cross-border client needs. (Josh Recamara, 11/7/2025, Insurance Business, 'Liberty Specialty Markets to enter the HNW market')
McLarens has appointed Danny Miller as Chief Global Strategy Officer, a new role focused on strategic planning, M&A opportunities, and enterprise initiatives; with over 30 years of experience in insurance and loss adjusting, Miller will support McLarens’ global growth and innovation efforts. (Jonalyn Cueto, 10/7/2025, Insurance Business, 'McLarens names Danny Miller as chief global strategy officer')
Arch Capital Group has appointed Ondine Bourrut Lacouture as the new Active Underwriter of Arch Syndicate 1955 at Lloyd’s, succeeding Simon Williams, who remains Chief Strategy and Distribution Officer for Arch Insurance International, as the syndicate’s stamp capacity has grown over threefold since its 2019 acquisition. (Kenneth Araullo, 10/7/2025, Insurance Business, 'Insurance moves: Arch, ERS, Broadstone')
ERS has promoted Chris Wilson to Head of Fleet and Commercial Motor, consolidating both business lines under his leadership; Wilson, who joined in 2014 and developed the fleet underwriting function, will now also oversee the commercial portfolio, including transportation, courier, and specialist vehicle segments. (Kenneth Araullo, 10/7/2025, Insurance Business, 'Insurance moves: Arch, ERS, Broadstone')
Broadstone has appointed Rob Kerry as Actuarial Director in its insurance, regulatory, and risk division; with over four decades of experience, including as Chief Actuary at Utmost Life and Pensions, Kerry’s addition strengthens Broadstone’s capabilities in regulated roles, with-profits, product development, and M&A advisory work following its acquisition of BPA specialist ExactVAL. (Kenneth Araullo, 10/7/2025, Insurance Business, 'Insurance moves: Arch, ERS, Broadstone')
Liberty Specialty Markets has appointed Pierre-Edouard Fraigneau as President of Europe, effective September 1, succeeding Kadidja Sinz, who will retire in late 2025; Fraigneau, instrumental in Liberty’s Invest in Europe 2030 strategy, brings over 20 years of industry experience, including roles at AIG and Sanlam. (Jonalyn Cueto, 9/7/2025, Insurance Business, 'Insurance moves: Liberty Specialty Markets, Ceta Insurance, CFC')
Digital niche personal lines broker Ceta Insurance has appointed Mark Chappell as Head of Intermediary; previously with TMG Mortgage Network, Chappell brings expertise in strategic partnerships and sales, aligning with Ceta’s goal to expand its broker-focused general insurance offerings in the growing wholesale market. (Jonalyn Cueto, 9/7/2025, Insurance Business, 'Insurance moves: Liberty Specialty Markets, Ceta Insurance, CFC')
United Risk has launched Applied Affinity Underwriters to expand warranty and affinity insurance services across Europe and the UK. Headquartered in Stockholm, the new entity will offer consumer-focused policies, including accident, sickness, travel, and gadget protection, in partnership with Aviva Insurance Ireland DAC. The leadership team includes Anna Clarving as CEO, bringing 18+ years of experience in European and Nordic insurance markets, and Fredrik Müntzing as Chief Underwriting Officer, specialising in technical product underwriting and distribution innovation. (Jonalyn Cueto, 8/7/2025, Insurance Business, 'United Risk launches new affinity underwriter arm')
Liberty Global Transaction Solutions (Liberty GTS), a division of Liberty Mutual Insurance, has announced two new regional heads within its EMEA operations. Nick Lunn has been appointed Head of the UK, Central and Eastern Europe, Middle East, and Africa, while Barbara Magni takes on the role of Head of Southern Europe. Lunn, who joined Liberty GTS in 2020, previously led the Southern Europe team and brings experience from WTW, underwriting roles, and a background as a Corporate Lawyer. He will also continue to lead Liberty GTS’ EMEA tax team. Magni, with Liberty GTS since 2016, has extensive experience in M&A transactions across Southern Europe and will remain based in Milan. (Josh Recamara, 7/7/2025, Insurance Business, 'Insurance moves: Mosaic, Liberty GTS and Open GI')
Open GI has named Andy Brockway as Chief Technology Officer. Formerly CTO at Confused.com and Retail Insight, Brockway brings over 20 years of tech leadership experience. He will lead Open GI’s technology growth following its £8.5 million investment in 2023. (Josh Recamara, 7/7/2025, Insurance Business, 'Insurance moves: Mosaic, Liberty GTS and Open GI')