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General Insurance newsletter Friday 26th June 2026

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Please note, there will not be a newsletter next week as we are refreshing the format.

​Insurance News

  • The Ardonagh Group has launched Axiiem, a new insuretech business designed to connect data, distribution and capacity across specialty insurance, marking the commercial debut of proprietary technology the group has been developing internally for seven years. (Josh Recamara, 26/6/2026, Insurance Business,Ardonagh launches Axiiem as tech-enabled trading exchange for specialty insurance)

  • MGA incubator OneAdvent has launched Collective, a new managing general agent providing specialist insurance for photographers and musicians, targeting a protection gap that standard home contents policies have consistently failed to address. (Josh Recamara, 26/6/2026, Insurance Business, OneAdvent launches specialist MGA for photographers and musicians)

  • Sharp year-on-year increases across every major risk category signal a structural shift in corporate risk, with governance and resilience now central to strategic decision-making, according to new research from global law firm Clyde & Co.(Josh Recamara, 26/6/2026, Insurance Business,Businesses operating in 'permanent high-risk environment' as AI, geopolitics and regulation converge)

  • The Association of British Insurers (ABI) and the British Insurance Brokers' Association (BIBA) appeared before the House of Lords Financial Services Regulation Committee on Wednesday, 24 June 2026, in the fourth and fifth oral evidence sessions of its inquiry into the regulation of the UK's consumer insurance market. (Bryony Garlick, 25/6/2026, Insurance Business,ABI and BIBA back Consumer Duty enforcement at Lords inquiry)

  • Lockton has retained its role as broker for the Law Society of Scotland's Master Policy for professional indemnity (PI) insurance following a competitive five-year tender. The appointment takes effect from 1 January 2027. Lockton has held the mandate since 2017. (Mark Rosanes, 25/6/2026, Insurance Business,Lockton retains Scotland's legal PI mandate after five-year tender)

  • CFC is introducing affirmativeartificial intellegence coverage across seven commercial insurance products as insurers confront growing questions over how policies respond to AI-related risks. (Mark Rosanes, 25/6/2026, Insurance Business,Insurers rethink policy wording as AI risks rise)

  • Hull war insurance premiums for vessels passing through the Strait of Hormuz have fallen by more than half in under a week. The ceasefire between the US and Iran signed on June 17 is pulling nervous capacity back into the market, with rates dropping from roughly 5% of a vessel's value to around 2% after discounts, according to brokers cited by the Financial Times. Individual ships are saving hundreds of thousands of dollars per transit compared with the worst of the crisis.  (Matthew Sellers, 25/6/2026, Insurance Business,Hormuz war premiums halve in six days. London's underwriters are not celebrating yet)

  • Only 36% of European executives feel prepared for the energy transition and its costs — the lowest of any region surveyed. That is the sharpest finding from Beazley's Spotlight on Energy Transformation 2026, drawn from a survey of 3,500 business leaders across seven markets in January 2026. (Jhanna Hines, 25/6/2026, Insurance Business,Energy transition risk is outpacing insurance capacity, Beazley research finds )

  • The London market is taking steps to resolve long-standing payment delays for specialist surveyors, with a new scheme designed to improve fee settlement and reduce operational friction. Early pilot results suggest the initiative could ease cash-flow pressure on survey firms, strengthen market efficiency and help preserve access to critical specialist expertise. (Bryony Garlick, 24/6/2026, Insurance Business, London market launches scheme to tackle surveyor payment delays)

  • Yorkshire Building Society’s commission-free insurance model is gaining attention after delivering £3 million in member savings in its first year, highlighting how embedded, low-friction distribution can make home and life cover more affordable. The proposition also sharpens the challenge for brokers, particularly in simpler personal lines, as lenders use trusted customer relationships and lower-cost distribution to compete more directly on value and convenience. (Matthew Sellers, 24/6/2026, Insurance Business, Yorkshire Building Society saved members £3m on insurance. Brokers should take note)

  • Post-Brexit expansion is exposing UK multinationals, particularly SMEs, to a more fragmented compliance landscape, as statutory insurance requirements vary sharply across EU markets and failures can trigger more than just financial penalties. With new UK rules extending criminal liability to senior managers for offences committed under their authority, the pressure is growing on businesses and brokers to strengthen oversight of overseas insurance and employment obligations. (Mark Rosanes, 24/6/2026, Insurance Business, Post-Brexit compliance failures carry criminal risk for UK multinationals)

  • New data from Legal & General highlight how delaying life insurance can materially increase costs, with premiums for a 40-year-old more than triple those for a 20-year-old buying the same cover. The figures reinforce a broader industry challenge around the UK protection gap, as affordability, low awareness and limited consumer engagement continue to hold back take-up, particularly among younger adults. (Jonalyn Cueto, 24/6/2026, Insurance Business, UK life insurance costs triple between age 20 and 40, L&G data show)

  • The FCA is increasing pressure on insurance firms to show that non-financial misconduct controls work in practice, as reported incidents in the sector rose sharply between 2021 and 2023 and supervisory cases continue to climb. With new rules taking effect in September 2026, firms face growing scrutiny over governance, board oversight and culture, while misconduct-related exposures are also becoming more relevant for employment practices and reinsurance claims. (Mark Rosanes, 24/6/2026, Insurance Business, FCA targets insurance firms as non-financial misconduct cases mount)

  • European cyber claim notifications declined in 2025, but insurers remain cautious as privacy breaches, ransomware and third-party incidents continue to drive costly losses. The market is showing a growing disconnect between frequency and severity, with fewer reported events masking persistent exposure to large claims tied to regulation, supply chain dependency and high-impact cyber incidents. (Mark Rosanes, 23/6/2026, Insurance Business, Europe cyber incidents fall, but severity keeps insurers cautious)

  • Keir Starmer’s resignation is being met with a mix of scepticism and guarded hope across the insurance market, with many brokers seeing little immediate operational impact but others calling for a more pro-growth agenda from the next government. The reaction reflects a sector that has grown wary of political turnover, while remaining focused on whether changes in economic policy, taxation and business support could materially affect growth and profitability.(Bryony Garlick, 23/6/2026, Insurance Business, Just another Monday? Insurance reacts to Starmer's exit)

  • Reserve risk transfer is being used less as a clean-up tool for discontinued liabilities and more as a strategic lever for capital efficiency, earnings stability and balance-sheet flexibility. As insurers and investors contend with long-tail exposures, alternative capital inflows and M&A activity, legacy solutions are increasingly being considered earlier in the risk lifecycle and as part of broader growth planning. (Bryony Garlick, 23/6/2026, Insurance Business, Reserve risk transfer moves from legacy solution to strategy

  • Irwell Insurance has expanded beyond its traditional legal expenses and commercial liability base after receiving regulatory approval for professional indemnity, personal home emergency and landlord home emergency, while also launching a family legal protection product. The move strengthens its presence in growing adjacent markets and reflects a broader intermediary-led push toward more diversified, service-enhanced insurance propositions. (Josh Recamara, 23/6/2026, Insurance Business, Irwell expands product range with regulatory approval for three new lines)

  • Social media is becoming a meaningful underwriting input in the high net worth market, as insurers use publicly available online activity to build a broader picture of client behaviour, security habits and exposure to loss. For brokers and carriers, that means risk assessment is moving beyond traditional proposal forms toward a more behavioural and context-driven model, with digital visibility increasingly influencing how affluent risks are priced and managed. (Bryony Garlick, 22/6/2026, Insurance Business, How social media is reshaping high net worth underwriting)

  • A decade after the referendum, Brexit appears to have imposed a substantial cumulative drag on the UK insurance sector through lost EU market access, duplicated regulatory structures, weaker investment and reduced capital efficiency. Drawing on Bank of England research and official ONS data, the article argues that insurance and pensions may have absorbed£20 billion to £40 billion in cumulative lost outputsince 2016, highlighting just how heavily one of the UK’s most EU-exposed sectors has been affected.(Matthew Sellers, 22/6/2026, Insurance Business, Ten years on: what did Brexit actually cost the UK insurance industry?)

  • For insurance brokerages, the best AI choice in 2026 depends less on headline model rankings and more on fit for task, data sensitivity and workflow integration. The article argues that firms should match tools to use case, using models like Claude or GPT for document-heavy analytical work, Copilot for Microsoft-based operational workflows, and real-time tools like Grok for current awareness, while keeping governance, compliance and human review at the centre of deployment decisions.(Matthew Sellers, 22/6/2026, Insurance Business, Which AI is right for your insurance brokerage? A practical guide to the models that matter in 2026)

Moves​​

  • Tracie Thompson has joined Marsh Risk as its Global Head of Portfolio Solutions, Marsh Risk, effective immediately. She brings more than 28 years of global insurance experience. Her background spans portfolio optimisation, commercial strategy, and data-led placement across the US, UK, Europe, and Asia Pacific.(Jhoanna Hines, 25/6/2026, Insurance Business,Tracie Thompson joins Marsh Risk as global head of portfolio solutions )

  • Gallagher has appointed Gabriella Eriksen Wingren as head of transaction solutions for the Nordics. The move adds dedicated warranty and indemnity (W&I) insurance leadership to its private equity and M&A practice (PEMA) in the region.(Mark Rosanes, 25/6/2026, Insurance Business, W&I market growth spurs Gallagher Nordic hire)

  • AXA XL is strengthening its delegated authority strategy with the appointment of Samantha Wotton as Head of Coverholder development for the UK, reflecting the growing importance of coverholders and MGAs in the London market. As delegated authority accounts for an increasing share of Lloyd’s premium income, carriers are investing more heavily in distribution, portfolio oversight and specialist talent to support growth while meeting rising regulatory expectations. (Mark Rosanes, 24/6/2026, Insurance Business, AXA XL appoints coverholder chief as delegated business grows)

  • Addept Insurance Services has strengthened its growth plans by securing expanded five-year legal expenses capacity from Irwell Insurance Company, signalling confidence in rising demand for LEI cover across the UK. The move comes as tribunal backlogs, employment law reforms and growing legal cost pressures increase the need for protection among SMEs and personal lines customers, making stable specialist capacity a more strategic asset for MGAs.(Mark Rosanes, 23/6/2026, Insurance Business, Irwell backs Addept growth with expanded legal expenses capacity)

  • The Hartford has made Dave Draper’s interim role permanent by naming him Chief Underwriting Officer for its UK business, while also appointing Bertie Troughton as Head of Upstream Energy, International. The moves reinforce the insurer’s London market build-out as it expands Syndicate 1221, deepens specialist underwriting capability and pushes further into international growth areas such as energy and Asia-based business. (Josh Recamara, 23/6/2026, Insurance Business, The Hartford names UK chief underwriting officer)

  • Bondaval has appointed Alexia Parmentier as Co-Chief Underwriting Officer as rising insolvencies and tighter credit conditions increase demand for trade credit insurance. Her arrival strengthens the firm’s underwriting leadership at a time when businesses are seeking more protection against counterparty risk, and as Bondaval expands internationally with backing from highly rated capacity partners.(Mark Rosanes, 22/6/2026, Insurance Business, Bondaval names co-chief underwriting officer as credit markets tighten)

  • The Chartered Insurance Institute has created a new eight-member Professional Communities Advisory Boardto bring more frontline industry input into professional standards, learning and guidance as the sector faces growing talent and skills pressures. The board is chaired by Richard Napoli of Markel, with Joel Markham of AXA as Deputy Chair, and also includes Janet Edey of Chubb, Kerry D’Souza of First Central,Eibhlin Swan of Allianz, Alycia Thomson of PIB, Nicola Maguire of BIBA and Sheryl Fernando of the ABI.(Mark Rosanes, 22/6/2026, Insurance Business, CII forms eight-member board as talent crisis reshapes the profession)

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All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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