General Insurance newsletter Friday 6th March 2026

Insurance News

Develop your EVP strategy with IDEX - IDEX’s Employer Value Proposition (EVP) focuses on helping people achieve both personal and professional goals. Built on six key pillars - leadership development, an inspiring ecosystem, recognition and rewards, work-life balance, authenticity, and contributing to a growing business - the EVP emphasises fostering individual success. By prioritising flexibility, career growth, and a supportive culture, IDEX creates an environment where people can thrive and achieve what they once thought impossible, aligning personal aspirations with professional achievements. (IDEX Consulting news, 'Develop your EVP strategy with IDEX')
Compare your compensation with industry standards - The IDEX Salary Calculator offers accurate salary data for hundreds of roles within General Insurance and Financial Services. It allows you to quickly assess whether you’re being paid fairly by comparing your compensation package to industry peers. (IDEX Consulting news, 'Compare your compensation with industry standards')
Unsure what your business is worth? - Our free valuation calculator, designed specifically for brokers, insurers, and MGAs, provides an instant estimate based on your company’s profile, revenue, and profit. Gain the essential data you need to make informed, strategic decisions with confidence. (IDEX Consulting news, 'Unsure what your business is worth?')
Why climate transparency matters more than ever for US insurers - Only 29% of US insurers provide measurable climate risk targets, despite most disclosing strategies. This lack of transparency leaves customers vulnerable and unprepared for rising claims from extreme weather. Regulators are enforcing stricter disclosure requirements, pushing insurers to standardise metrics and improve accountability. (IDEX Consulting news, 'Why climate transparency matters more than ever for US insurers')
Coalition's 2026 Cyber Claims Report highlights a 47% rise in ransomware demands in 2025, with 86% of victims refusing to pay due to improved backups, incident response plans, and insurer-supported negotiations. Business email compromise (BEC) and funds transfer fraud (FTF) dominate incidents, emphasising the need for clear policy definitions and recovery strategies. (Josh Recamara, 6/3/2026, Insurance Business, 'Revealed - what's changing about cyber claims')
Allianz highlights that the Middle East conflict is straining energy and marine insurers due to disruptions in the Strait of Hormuz, leading to higher oil prices, increased war-risk premiums, and potential claims inflation, while insurers navigate elevated costs, market volatility, and prolonged geopolitical risks. (Josh Recamara, 5/3/2026, Insurance Business, 'Middle East conflict piles pressure on energy and marine insurers - Allianz Trade')
Aviva achieved its 2026 financial targets a year early, driven by a 25% surge in operating profit to £2.2 billion, strong group performance, and the successful integration of Direct Line, which exceeded cost synergy expectations and boosted premiums significantly. (Kenneth Araullo, 5/3/2026, Insurance Business, 'Aviva smashes 2026 targets a year early after profit surge')
As geopolitical tensions rise, UK businesses face increased cyber spillover risks, including ransomware and infrastructure attacks, according to George Grimshaw of Clear Group. While insurers rely on war exclusions to shield against systemic losses, these exclusions clarify coverage boundaries but leave organisations, particularly those tied to government or critical infrastructure, more vulnerable to state-backed cyber threats. (Bryony Garlick, 4/3/2026, Insurance Business, 'War exclusions protect insurers as cyber spillover risk emerges')
Zurich Insurance Group anticipates significant earnings growth from its transformative $10.8 billion acquisition of Beazley, which will create a global leader in specialty lines with $15 billion in gross written premiums. CEO Mario Greco highlighted the deal's strategic value, enhancing Zurich's position in cyber, energy, financial lines, and marine, while leveraging Beazley's Lloyd’s platform access and underwriting expertise. (Gia Snape, 4/3/2026, Insurance Business, 'Zurich expects earnings lift from transformative Beazley acquisition')
Gallagher has highlighted a widening protection gap as UK businesses face intensified supply chain shocks driven by cost inflation, geopolitical tensions, and cyber risks. While 46% of UK firms with supply chain losses had full insurance coverage, underinsurance remains a critical issue. Gallagher urges businesses to address these gaps through tailored risk assessments and comprehensive insurance solutions. (Josh Recamara, 4/3/2026, Insurance Business, 'Gallagher flags widening protection gap as UK supply chain shocks intensify')
K2 International has launched K2 Professional Indemnity Limited (K2 PI), a new division focused on non-US professional liability business, led by industry veteran Richard Smart. This expansion enhances K2 International’s financial lines portfolio, aligning with Lloyd’s emphasis on specialist, data-driven underwriting. The launch provides brokers with a Lloyd’s-backed facility for complex international PI risks, addressing evolving regulatory, contractual, and cyber-related exposures. (Josh Recamara, 4/3/2026, Insurance Business, 'K2 International expands financial lines with specialist non-US PI offering')
Crawford & Company reported a fourth-quarter loss of $7.2 million, driven by an 11% revenue decline to $308.5 million due to reduced US catastrophe claims compared to the prior year’s hurricane activity. Despite the quarterly dip, full-year 2025 net income reached $19.6 million, with adjusted operating earnings rising 10% to $82.3 million. The company plans to focus on service delivery and profitability in 2026 following its recent global restructure. (Kenneth Araullo, 3/3/2026, Insurance Business, 'Crawford Q4 results hit by quieter US catastrophe claims')
Brokerslink has expanded its Baltic presence by appointing Riga-based Perks as its affiliate in Latvia. Specialising in corporate and SME risks, Perks strengthens Brokerslink’s network, which now spans 134 countries. This move aligns with growing interest in the Baltic insurance markets, where corporate demand for property and liability coverage is rising alongside motor insurance. (Josh Recamara, 3/3/2026, Insurance Business, 'Brokerslink adds Perks as Latvia affiliate')
Bspoke Private Clients has secured a five-year capacity deal with Accelerant Risk Exchange, increasing its maximum line size to £15 million per location. This expansion strengthens its position in the UK mid- and high-net-worth markets, enabling it to handle larger and more complex risks. The deal also includes product enhancements, such as a cyber helpline, reflecting growing demand for digital risk support among affluent clients. (Josh Recamara, 3/3/2026, Insurance Business, 'Bspoke Private Clients secures new five-year capacity deal with Accelerant')
UK SMEs often turn to banks rather than brokers after cyberattacks, viewing incidents as operational disruptions rather than financial risks. Tom Draper of Coalition Inc. highlights that reliance on post-incident borrowing is fragile, as lenders may hesitate to provide loans during crises. Draper emphasises the need for insurers to better quantify cyber risks for SMEs, reframing cyber insurance as essential balance-sheet protection rather than an optional add-on. (Bryony Garlick, 2/3/2026, Insurance Business, 'SMEs turn to banks, not brokers, after cyberattacks')
Red Apple Brokers, led by Ismaeel Latif, has launched in Oldham, Manchester, as part of the Coversure Network. Latif, with nearly a decade of industry experience, previously worked at Swinton before establishing his own brokerage under Coversure. This marks the 11th new office to join the network in the past year, bringing Coversure’s total to over 90 offices nationwide. The expansion aligns with Manchester’s economic growth and cost advantages for start-ups, supported by Coversure’s parent company, Jensten Group, which plans to invest £1 million to help launch 15 new brokerages this year. (Kenneth Araullo, 2/3/2026, Insurance Business, 'Coversure network grows with Red Apple launch in Manchester')

Mergers and Acquisitions

Ardonagh has integrated Globe Underwriting into its Pan-European MGA platform, Orvia Underwriting, marking the second such move since Orvia's launch in January. Globe adds expertise in areas like professional indemnity, cyber, and aviation to Orvia’s €250 million portfolio. This consolidation aligns with Ardonagh’s strategy of unifying MGAs into a borderless operation, supported by a $2.5 billion equity investment for global expansion and technology. Orvia’s rollout will continue across offices and digital channels throughout 2026. (Kenneth Araullo, 4/3/2026, Insurance Business, 'Ardonagh folds Globe Underwriting into Pan-European MGA platform')
Zurich has agreed to acquire Beazley in a $10.9 billion all-cash deal, aiming to create a global specialty insurance leader. The merger will combine their specialty platforms, representing $15 billion in gross written premiums. Zurich anticipates $150 million in annual cost savings by 2029 and significant revenue opportunities. The acquisition, subject to approvals, is expected to close in the second half of 2026. (Paul Lucas, 2/3/2026, Insurance Business, 'Zurich-Beazley deal moves forward as terms agreed')

Moves

QBE has appointed Melody Lyndon-Stanford as Head of Client Engagement for European operations, effective June 2026. With over 15 years of insurance experience, she transitions from Aviva, where she was Client Relationship and Innovation Manager. (Josh Recamara, 6/3/2026, Insurance Business, 'Insurance moves: QBE, Lumara and Tokio Marine Kiln')
MGA Lumara has appointed Matt Draper as Lead Underwriter for the Midlands, tasked with building a regional broker panel and expanding the firm's motor trade combined product nationally. Draper brings 25 years of experience, including roles at RSA, NIG, and Covéa. (Josh Recamara, 6/3/2026, Insurance Business, 'Insurance moves: QBE, Lumara and Tokio Marine Kiln')
Tokio Marine Kiln (TMK) has appointed Sarah Tidbury as Portfolio Solutions Underwriter. With over 20 years of experience, including roles at Liberty Mutual, RSA London, and AIG London, Tidbury will focus on structuring portfolio deals across various lines and geographies to enhance TMK's market reach. (Josh Recamara, 6/3/2026, Insurance Business, 'Insurance moves: QBE, Lumara and Tokio Marine Kiln')
Howden has appointed Emily Almond as divisional CEO and Sebastiano Doria as Chair of its global financial sponsors practice. Both former Marsh executives, Almond and Doria bring over 40 years of combined experience to enhance Howden's private capital advisory capabilities, focusing on tailored risk solutions across the investment lifecycle. (Josh Recamara, 6/3/2026, Insurance Business, 'Howden hires duo to lead global push into private capital advisory')
Open GI has appointed Thomas Bailey as Head of Data, tasking him with leading the company’s data strategy, developing high-value data products, and enabling effective data use to drive business growth. Bailey brings extensive experience from roles at Aldi, Next, Bibby Financial Services, St Modwen, and Halfords, where he focused on modernising data practices, enabling AI use cases, and managing platform implementation and cloud migration projects. (Josh Recamara, 5/3/2025, Insurance Business, 'Insurance moves: Open GI, ALA Insurance, Hamilton, BHSI and Policy Expert')
Hamilton Insurance Group has appointed Sinead Cormican as Chief Underwriting Officer of Hamilton Global Specialty, where she will oversee underwriting performance and portfolio strategy. With over 25 years of market experience and a key role in building the platform’s underwriting capabilities, Cormican also serves as Active Underwriter of Lloyd's Syndicate 4000. Additionally, Richard Northcott, Head of Marine and Energy, has been named Head of Business Development Strategy, focusing on strategic initiatives and strengthening broker and client relationships. (Josh Recamara, 5/3/2025, Insurance Business, 'Insurance moves: Open GI, ALA Insurance, Hamilton, BHSI and Policy Expert')
Berkshire Hathaway Specialty Insurance (BHSI) has appointed Rory O’Broin as Global Head of Transactional Liability, strengthening its executive and professional lines leadership. Based in BHSI’s London office, O’Broin brings extensive international experience in M&A transactional liability, contingent risk, and tax liability insurance, along with deep legal expertise in complex cross-border deals. (Josh Recamara, 5/3/2025, Insurance Business, 'Insurance moves: Open GI, ALA Insurance, Hamilton, BHSI and Policy Expert')
Policy Expert has appointed Richard Kirby as Chief Operating Officer, succeeding Co-Founder Adam Powell after 15 years. Kirby brings over 20 years of experience in operational value creation and transformation across insurance, private equity, and technology-enabled businesses, including roles at PIB Insurance Broking, LDC, Aon, and Marsh, where he held senior leadership positions in integration, transformation, and M&A. (Josh Recamara, 5/3/2025, Insurance Business, 'Insurance moves: Open GI, ALA Insurance, Hamilton, BHSI and Policy Expert')
Allianz UK has appointed Scott McLoughlin as Head of Intermediary, leveraging his 20+ years of insurance industry experience, including roles at LV= General Insurance, Legal & General, and HomeServe. McLoughlin will focus on strengthening partnerships with mortgage intermediaries, brokers, and financial advisers, enhancing customer experience, and delivering value through the intermediary channel. (Josh Recamara, 4/3/2026, Insurance Business, 'Insurance moves: Allianz Legal, DAC Beachcroft, QuestGates and Allianz UK')
QuestGates has bolstered its major and complex loss division with several senior appointments, including Colum Tudball as National Technical Director. With over 40 years of experience in loss adjusting, Tudball will refine technical processes, mentor adjusters, and act as a senior referral point for complex claims. Additional hires include Niall Smith as Major Loss Director North, Russell Hulme as Major Loss Director South West, and Richard Keegan as Forensic Accounting Services Director, enhancing the unit’s technical and regional expertise. (Josh Recamara, 4/3/2026, Insurance Business, 'Insurance moves: Allianz Legal, DAC Beachcroft, QuestGates and Allianz UK')
HDI Global UK & Ireland has appointed Matthew Bond as Head of Energy & Power, effective March 2, 2025. With over 20 years of experience in underwriting and engineering, Bond previously held senior roles at AIG, Berkshire Hathaway Specialty Insurance, CNA Hardy, and Mitsui Sumitomo Insurance. Bond will lead the energy & power portfolio, focusing on integrating specialist expertise to support clients and brokers in navigating advancements in power generation, traditional energy, and emerging technologies. (Kenneth Araullo, 2/3/2026, Insurance Business, 'Insurance moves: HDI Global, Acrisure London, AEGIS London, Waggel')
Acrisure London Wholesale has entered the construction market with a new specialist team led by Tom Hester, appointed as Senior Vice President and Head of Construction, effective February 16. Hester brings over 22 years of experience, including leadership roles at Lockton, Alesco, and JLT Specialty. He will oversee the strategic development and expansion of Acrisure’s construction offering. (Kenneth Araullo, 2/3/2026, Insurance Business, 'Insurance moves: HDI Global, Acrisure London, AEGIS London, Waggel')
AEGIS London has promoted Jenny Macartney and Zoe Hill to Claims Manager roles. Macartney, with the company since 2018, will continue leading the casualty claims team, while Hill, who joined in 2016, will oversee the E&O and cyber claims team. Additionally, Neale Etheridge has been appointed Claims Manager for marine & energy, joining from Fidelis and succeeding Dean Allen. (Kenneth Araullo, 2/3/2026, Insurance Business, 'Insurance moves: HDI Global, Acrisure London, AEGIS London, Waggel')