General Insurance newsletter Friday 4th July 2025

Insurance News

IDEX Salary Calculator: Is it time for a pay rise? - Use the data from our free salary calculator to arm yourself with accurate market benchmarks that you can use to influence your employer. (IDEX Consulting news, 'IDEX Salary Calculator: Is it time for a pay rise?')
Beat your competitors with a compelling sustainability strategy - Building a sustainability strategy is essential for businesses to attract talent, meet investor expectations, and adapt to regulatory demands. Key steps include aligning with the UN sustainability goal framework, avoiding greenwashing, and embedding sustainability into operations to drive resilience and long-term success. (IDEX Consulting news, 'Beat your competitors with a compelling sustainability strategy')
Maximising MGA partnerships for future success - The MGA market is experiencing rapid growth, driven by demand for specialised insurance, technological advancements, and M&A activity. However, challenges like capacity constraints and regulatory compliance require MGAs to diversify capacity sources, embrace innovation, and maintain disciplined underwriting. (IDEX Consulting news, 'Maximising MGA partnerships for future success')
Looking to hire? Here's how IDEX can help you - IDEX Consulting connects employers with top talent through a network of 70,000 professionals, leveraging advanced technology, market intelligence, and strategic marketing to deliver tailored recruitment solutions with a 98% long-term placement success rate. (IDEX Consulting news, 'Looking to hire? Here's how IDEX can help you')
The UK's managing general agent (MGA) sector faces increasing pressure due to economic headwinds, regulatory scrutiny, and shifting risk appetites, while balancing innovation, underwriting discipline, and compliance to remain key players in the evolving insurance ecosystem, according to a report by Clyde & Co in collaboration with the Managing General Agents’ Association (MGAA). (Josh Recamara, 4/7/2025, Insurance Business, 'UK's MGA sector under pressure - report')
The growing solar energy market presents new opportunities for insurance brokers, driven by increased capacity and lower pricing. However, challenges like extreme weather risks, supply chain tariffs, and the complexity of long-term investments require brokers to focus on resilience and tailored risk management, according to Jason Kaminsky, CEO of kWh Analytics.(Daniel Wood, 3/7/2025, Insurance Business, 'Solar farms and broker opportunities')
A series of limpet mine attacks on oil tankers, suspected to target Russia's "shadow fleet," and Germany's new maritime insurance compliance checks have disrupted global shipping markets, driving up war risk premiums and tightening insurance terms amid heightened geopolitical tensions. (Matthew Sellers, 3/7/2025, Insurance Business, 'Limpet mine attack adds to insurer war risk chaos')
Hiscox has launched the UK’s first affirmative AI liability cover, updating its Technology Professional Indemnity policy to address risks from AI use, including faulty outputs and third-party harm, while providing clear, explicit terms for emerging tech liabilities. (Manal Ali, 3/7/2025, Insurance Business, 'Hiscox launches first affirmative AI liability cover in UK market')
In further news...Hiscox has launched a new Cargo API to streamline the placement of small cargo and stock throughput risks. Targeting SMEs, the digital solution allows brokers to quote and bind risks instantly, covering goods like clothing and equipment with limits up to $5 million. Developed in-house, the API addresses a market gap for smaller value cargo risks and is backed by Hiscox’s claims team. (Josh Recamara, 1/7/2025, Insurance Business, 'Hiscox launches new cargo API solution')
Allianz Commercial has launched the CAReS platform to help businesses assess and mitigate climate risks, offering data-driven insights on 12 climate perils and projections across multiple timeframes to support long-term resilience planning. (Kenneth Araullo, 2/7/2025, Insurance Business, 'Allianz Commercial launches CAReS climate risk platform for businesses')
MS Amlin has consolidated its brand under a single trading identity, unifying its global presence and simplifying engagement for brokers, partners, and clients, as part of a broader restructuring by parent firm Mitsui Sumitomo Insurance. (Kenneth Araullo, 2/7/2025, Insurance Business, 'MS Amlin consolidates brand under single trading identity')
Affinity Brokers has rebranded as Acrisure UK Broking Limited, reflecting Acrisure’s strategy to unify its UK operations under a single identity and strengthen its brand presence. The Glasgow-based firm will continue serving clients locally, with no changes to staff or service levels, marking a milestone in its growth under the Acrisure structure. (Josh Recamara, 2/7/2025, Insurance Business, 'Affinity Brokers rebrands as Acrisure UK Broking Limited')

MBC Insurance has rebranded as Clear Insurance Ireland, aligning with Clear Group’s strategy to consolidate its Irish operations under a unified brand. The move follows Clear Group’s acquisition of MBC in 2023 and aims to integrate services while maintaining local client relationships and continuity. (Josh Recamara, 2/7/2025, Insurance Business, 'MBC Insurance rebrands as Clear Insurance Ireland')
Brokerslink has added Drivento and HWF Partners to its global network, enhancing expertise in innovation and transactional risk insurance. Drivento offers strategic consulting across multiple regions, while HWF specialises in transactional risk solutions, having advised on over 5,800 deals. These additions expand Brokerslink’s reach to 133 countries with over 45,000 professionals. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Brokerslink adds Drivento and HWF to boost global expertise')
Lloyd’s has welcomed the US decision to withdraw Section 899 from its reconciliation bill, which would have significantly increased taxes on foreign insurers. The move, supported by G7-level agreements, ensures continued international investment and protects Lloyd’s operations in its largest market, the US. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Lloyd's welcomes US tax rollback that protects foreign insurers')
Aon CEO Greg Case has called for $1 trillion in private capital over the next decade to address insurance gaps in natural disasters and cyber risks. With only a fraction of global losses currently insured, Aon is focusing on alternative capital, parametric solutions, and advanced analytics to meet rising demand and reduce volatility for clients. (Josh Recamara, 30/7/2025, Insurance Business, 'Aon CEO says $1 trillion in private capital needed to bridge insurance gaps')
BIBA has released a new guide to help brokers understand and adopt AI in their operations. Developed with input from members and supported by Markel, the guide covers AI use cases, regulatory considerations, and practical insights. It emphasises ethical adoption and ongoing oversight while highlighting AI’s transformative potential in the insurance sector. (Josh Recamara, 30/7/2025, Insurance Business, 'BIBA releases new guide on AI')

Mergers and Acquisitions

Activate Group has acquired Avant Group, a UK-based collision repair specialist, to expand its accident management and repair operations. Backed by private equity firm Elysian Capital, the deal includes Avant’s three core units and integrates Bodynet’s digital tools to enhance efficiency. (Josh Recamara, 4/7/2025, Insurance Business, 'Activate Group buys UK-based collision repair specialist')
Specialist Risk Group (SRG) has acquired Generation Underwriting, a Newcastle-based managing general agent, to enhance its regional underwriting capabilities in property, liability, and fleet, integrating the business into its MX division while retaining its local market focus. (Josh Recamara, 3/7/2025, Insurance Business, 'Specialist Risk Group buys Generation Underwriting')
HSBC has agreed to sell its UK life insurance unit, HSBC Life (UK), to Chesnara for £260 million as part of its global streamlining strategy, focusing on core banking and Asia. The deal, expected to complete in early 2026, will add £4 billion in assets under administration and 454,000 policies to Chesnara’s UK operations. (Insurance Business, 3/7/2025, 'HSBC sells UK life unit to Chesnara amid global streamlining strategy')
Aviva’s £3.7 billion acquisition of Direct Line has received final approval from the CMA. The deal will double Aviva’s UK motor insurance market share, with plans to retain Direct Line’s brands while restructuring operations and leadership to achieve £125 million in annual cost synergies. (Kenneth Araullo, 1/7/2025, Insurance Business, 'Aviva's Direct Line takeover clears final hurdle with CMA nod')
AXA has sold its investment unit, AXA Investment Managers, to BNP Paribas for €5.1 billion, forming a €1.5 trillion asset management entity. The deal includes a long-term partnership for investment services and is expected to generate a €2.2 billion net income gain for AXA, despite a €0.4 billion annual earnings reduction. BNP Paribas aims to expand in private markets through this acquisition. (Kenneth Araullo, 1/7/2025, Insurance Business, 'AXA sells investment unit to BNP Paribas in strategic asset shift')
The Ardonagh Group has secured a $2.5 billion equity investment led by Stone Point Capital, valuing the company at $14 billion. The funds will support global expansion, M&A activity, and technology initiatives like Ardonagh Intelligence. Formed in 2017, Ardonagh now places $18 billion in gross written premiums annually across multiple markets. (Josh Recamara, 1/7/2025, Insurance Business, 'Ardonagh Group completes $2.5 billion equity investment')

Movers

Arch Insurance International has appointed Stephen Convery as Senior Construction Underwriter to strengthen its global construction portfolio, bringing over 18 years of experience in the construction insurance market, including a similar role at SCOR. (Kenneth Araullo, 3/7/2025, Insurance Business, 'Insurance hires: Arch, Ki')
Ki has appointed Jacques Bonneau as Non-Executive Chair of Ki Financial Limited, effective July 1, bringing extensive leadership experience from roles such as President and CEO of PartnerRe, Group Chief Underwriting Officer at Chubb, and Senior Adviser to the Bermuda Monetary Authority, alongside current non-executive positions with Brit Re and Novel. (Kenneth Araullo, 3/7/2025, Insurance Business, 'Insurance hires: Arch, Ki')
Aviva has finalised its merger with Direct Line Group, unveiling a new leadership team led by Jason Storah, CEO of the combined businesses, who brings extensive experience as CEO of Aviva UK & Ireland General Insurance. Owen Morris has been appointed CEO of UK personal lines, overseeing both Aviva and Direct Line’s personal lines businesses.(Kenneth Araullo, 2/7/2025, Insurance Business, 'Aviva confirms new leadership team after Direct Line merger')
CFC has appointed Ian McLean as Chief Technology Officer. With experience as Chief Product and Technology Officer at Pollinate and senior roles at Covéa, UnderwriteMe, and Validis, McLean will lead CFC’s technology roadmap, focusing on AI-driven underwriting and operational scalability. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')
Aspen Insurance Holdings has appointed Mariza Costa as Head of Investor Relations, a newly created role. With over 20 years of experience, including positions at Everest Group, AM Best, and Allianz, Costa will manage Aspen’s investor, analyst, and rating agency relationships, while supporting shareholder communications and strategic insights. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')
Legal and insurance advisory firm HF has appointed eight new partners across restructuring, employment, catastrophic injury, property, cyber consultancy, and credit hire, following CBPE’s 2024 investment. Notable appointments include Peter Crewe (restructuring & insolvency), Gareth Matthews (employment), Claire Dinoff and Mark Dunn (catastrophic injury), Steven Smith (property), Matthew Stanton (casualty), Craig Kennedy (cyber consultancy), and Melanie Mooney (credit hire), each bringing specialised expertise to their roles. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')
The UK P&I Club has announced two senior promotions in its safety & risk management division. Ansuman Ghosh, who joined the Club in 2018 and has held various technical and operational roles, becomes Director of Engineering, focusing on maritime technology transitions and decarbonisation. Akshat Arora, now Regional Loss Prevention Director for Singapore, will lead efforts in the Asia-Pacific region, building on his extensive experience in loss prevention. These roles aim to help members address regulatory changes and emerging risks like cyber security and sustainability. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')
ISC Group, the global network championing women in insurance, has appointed Huw Evans, Partner and Head of Insurance at KPMG UK, as its first male ambassador. Evans, who has advised on regulatory and climate-related risks and held industry leadership roles, will support ISC’s mission to promote gender balance and inclusive leadership in insurance and financial services. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')
Conrad Wong, Chief Commercial Officer of Nova Insurance Consultants in Hong Kong and Managing Director of its Beijing operations, has joined the board of directors of Brokerslink, a global broking network. Wong’s international experience is expected to enhance collaboration across the network. His appointment follows the retirement of long-serving Nova CEO Patrick Chan, whose contributions to the Asia-Pacific insurance industry were recognised by Brokerslink President and CEO José Manuel Fonseca. (Josh Recamara, 2/7/2025, Insurance Business, 'Insurance moves: Aspen, CFC, HF, UK P&I Club, ISC Group and Brokerslink')
Liberty Specialty Markets has appointed Niala Butt as Head of Casualty Claims for the UK. With 28 years of experience, including roles at CNA Hardy, Butt will oversee the casualty claims team, focusing on operational efficiency and stakeholder engagement. This appointment follows recent leadership changes and reflects LSM’s commitment to diversity and evolving client needs. (Josh Recamara, 1/7/2025, Insurance Business, 'Liberty Specialty Markets names head of casualty claims for UK')