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Sustainability

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OUR APPROACH

  • MATERIALITY

    As part of our materiality assessment, IDEX conducted interviews with clients, the board, and employees to understand their priorities and challenges. We also issued a number of surveys and obtained key data from those to inform our strategy.

  • STRATEGY

    Following a detailed analysis of commentary and data, we were able to agree our six core sustainable goals, which are linked back to the UN Sustainable Development Goal framework. A strategic plan was then created for each, with key targets.

  • REPORTING

    Sustainable practices are embedded throughout the business, and the strategy is owned by the board. The sustainability team meet regularly to drive activities and targets. Progress is reported quarterly to the board and key stakeholders.

OUR FOCUS AREAS

Financial responsibility

Financial responsibility

​IDEX has a diverse board of directors, which includes directors from a variety of backgrounds and experience. It is also challenged by two independent advisors. The board meets on a quarterly basis to assess strategy, priorities and financial performance.

Good health and wellbeing

Good health and wellbeing

One of our most important aims is to protect the health and wellbeing of our people. We provide a comprehensive benefits package for all employees, including medical, dental, mental health support, lifestyle and fitness. Flexible and hybrid working is core to our practice, promoting a healthy work-life balance by offering 30 days of paid annual leave.

Climate action and net zero

Climate action and net zero

Our goal is to achieve net zero by 2030, partnering with a sustainability consultancy to ensure a high standard of analysis and target setting, aligned to ISO 14064. We will use information around ISO Standards to ensure the validity of the work completed.

Charitable giving and helping

Charitable giving and helping

IDEX partner with a UK charity every year, running various events and activities to fundraise money and provide support. We also cash match individual and team charity events, offer payroll giving which is cash matched and provide everyone a paid day of leave to complete a charitable activity.

Equity, diversity and inclusion

Equity, diversity and inclusion

Our inclusive recruitment policy ensures that recruitment processes avoid unlawful discrimination and supports clients to hire diverse talent. Our internal EDI policy and strategy is driven by our committee who work to proactively build a supportive and equitable culture.

Providing good jobs

Providing good jobs

Through IDEX’s core business activity we find talented individuals for clients and the right jobs for people where they can thrive, this directly contributes to achieving decent work and economic growth.  

689 jobs

We helped 689 people achieve their career aspirations, where they can truly thrive and be financially stable.

ED&I policy

Launched our inclusive recruitment policy and ED&I playbook to ensure our work attracts diverse talent.

£87,000

We’ve raised over £87k for charity through our fundraising activities, team events, cash match and payroll giving.

Wellbeing

We’ve provided everyone at IDEX with an additional five days of paid holiday, to ensure a healthy work-life balance.

SUSTAINABILITY INSIGHTS

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What do the UK’s Captive insurance reforms mean for the market?

The UK government’s announcement of a dedicated framework for captive insurance, made by the Chancellor, mark a significant shift in the country’s approach to this niche but vital segment of the insurance market. This move, along with broader measures aimed at boosting the finance sector, underscores the urgent need to ease regulatory burdens and stimulate economic growth.While specific details were initially scarce, one of the most anticipated initiatives is a plan to accelerate the authorisation process for new captives. This measure has the potential to significantly reduce approval times from six weeks to just ten days, allowing fast-track captives to establish themselves in the UK quickly. This could be a crucial factor in making the UK a more competitive and attractive destination for setting up captive entities.Captive insurance, a form of self-insurance where companies establish their own insurance entities to manage specific risks, has long been underutilised in the UK compared to other jurisdictions like Bermuda, Guernsey, and Vermont. The new regulatory changes aim to address this imbalance, making the UK a more attractive home for captive insurers.Globally, captives account for 20-25% of all insurance premiums, representing a growing market driven by large insurers seeking greater control over their risk management and cost of risk. This is particularly relevant when faced with rising premiums and limited coverage in the traditional market. Beyond the obvious benefits, a strong captive sector helps a jurisdiction build a deep pool of insurance talent that can be leveraged by the wider market.Experts note that for the UK to compete effectively, it must develop a proposition that outshines other strong captive markets, who offer offer specific advantages that the UK has traditionally lacked, making them more financially appealing. For instance, Luxembourg provides equalisation reserve provisions for smoothing underwriting profits; Malta is the only EU member state offering Protected Cell Companies (PCCs); Guernsey's independence from Solvency II allows for greater flexibility and faster setups; and France offers flexible equalisation reserve treatment.For businesses with operations in both the UK and the EU, while a reformed UK captive regime would be more attractive, the issue of "passporting" rights post-Brexit for EU-based risks would remain a challenge.Key features of the reformsThe reforms are part of the UK government’s broader strategy to enhance the competitiveness of its financial services sector. Key elements include:Lower capital requirements: Captive insurers will benefit from proportionately lower capital requirements, reflecting their unique risk profiles.Streamlined authorisation: Faster authorisation processes will reduce the time and administrative burden for setting up captives.Reduced reporting obligations: Captives will face lighter reporting requirements compared to traditional insurers.Protected cell companies (PCCs): The reforms integrate captives into the UK’s PCC framework, making it easier for smaller businesses to establish captives.These changes align the UK’s regulatory framework with international standards, particularly those in Bermuda and Singapore, which have long been leaders in the captive insurance space.Economic and market implicationsThe reforms are expected to generate significant economic benefits. By attracting more captive insurers, the UK could see increased job creation and enhanced activity in its insurance market. A survey by the Association of Insurance and Risk Managers in Industry and Commerce (Airmic), a risk management association, revealed that due to growing demand “67% of respondents said their organisation already uses a captive. Of those whose organisation did not, 75% said their organisation was exploring the possibility of forming a captive now or in the future” (AIRMIC: AIRMIC calls for a class based or graded regulatory regime for captives in the UK).The UK’s insurance market, already the largest in Europe, stands to potentially make large gains from these reforms. By offering a competitive alternative to offshore jurisdictions, the UK could retain more insurance business domestically, boosting revenue across the sector.Challenges and limitationsWhile the reforms have been broadly welcomed, they are not without challenges. Critics argue that the changes are relatively cautious, focusing more on catching up with other jurisdictions than on breaking new ground. Notably, the exclusion of certain types of firms, such as financial institutions, from establishing captives has been seen as overly restrictive.Moreover, the reforms do not include tax incentives, which are often a key factor in the attractiveness of offshore captive domiciles. This could limit the UK’s ability to compete with jurisdictions like Bermuda, which offer favourable tax regimes.What to expect next?The Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) are expected to finalise rules for the new framework by mid-2027. These consultations will provide an opportunity for industry stakeholders to shape the final regulations, ensuring they are both effective and competitive.The integration of captives into the PCC framework is particularly promising. PCCs allow businesses to pool resources and reduce administrative costs, making captive insurance more accessible to smaller companies. This could potentially democratise the use of captives, enabling a broader range of businesses to benefit from this risk management tool.The UK’s captive insurance reforms represent a significant step forward in making the country a competitive player in the global captive insurance market. By addressing long-standing barriers to entry and aligning with international best practices, the reforms have the potential to transform the UK into a hub for captive insurance. However, the success of these reforms will depend on their implementation and the willingness of businesses to embrace the new framework.For more insight on the captives insurance market or for a discussion about your hiring strategy, get in touch with one of our insurance consultants. ​Sources AIRMIC: AIRMIC calls for a class based or graded regulatory regime for captives in the UKCaptive.com: A milestone year for captive insurance growthCaptive insurance times: Global captive numbers soar to 8,000 in 2024Marsh: 2025 Captive benchmarking reportPinsent Masons: Captive insurance regulatory regime to be introduced in the UKSkadden: UK’s proposed new captive insurer regime
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General Insurance newsletter Friday 1st August 2025

​​Insurance NewsWhat do the UK’s Captive insurance reforms mean for the market? - The UK government’s announcement of a dedicated framework for captive insurance is causing ripples across the financial and insurance sector. Will this boost the UK’s competitiveness or lead to increased cost and risk? Our article explores what these reforms, including faster authorisation and lighter regulation, could mean for your business. (IDEX Consulting news, 'What do the UK’s Captive insurance reforms mean for the market?')The AI transformation: How to bring your team on the journey - Building successful AI adoption hinges on team engagement and buy-in. Our experts share actionable strategies for a collaborative approach, moving from resistance to success. Watch our video to learn how to lead your teams on the AI journey. (IDEX Consulting news, 'The AI transformation: How to bring your team on the journey')MGA outlook: an opportunity for insurers - With the MGA market booming, insurers have a huge opportunity to optimise their product innovation and market reach. Our article explores how partnering with agile MGAs can help insurers capitalise on specialised expertise, technology, and talent to win in a saturated landscape. (IDEX Consulting news, 'MGA outlook: an opportunity for insurers')UK and US insurance regulatory reforms: what you need to know - For UK and US insurers, navigating a complex regulatory landscape is crucial. Our article provides essential insight on the changing regulatory market, from climate risk to AI, helping your business proactively adapt to new standards in an increasingly complex regulatory environment. (IDEX Consulting news, 'UK insurance regulatory reforms: what you need to know')AXA reported a 7% increase in gross written premiums for H1 2025, driven by growth in property & casualty (+6%), life & health (+8%), and asset management (+4%), alongside strategic initiatives like reinsurance integration and the acquisition of a 51% stake in Prima, an Italian digital insurer. (Kenneth Araullo, 1/8/2025, Insurance Business, 'AXA grows premiums in H1 amid P&C and life insurance momentum')Arthur J. Gallagher reported a 23% rise in adjusted EBITDAC to $1.01 billion for Q2 2025, driven by 16% brokerage revenue growth, 5.4% organic growth, and nine acquisitions, while progressing on its $13.45 billion AssuredPartners acquisition expected to close in Q3 2025. (Josh Recamara, 1/8/2025, Insurance Business, 'Arthur J. Gallagher reports strong Q2 results')UK Insurance Premium Tax (IPT) receipts rose 9% to £8.88 billion in 2024-2025, according to HMRC, driven by increased demand for private health insurance amid NHS access challenges, with calls for targeted IPT exemptions to improve affordability and support public services. (Josh Recamara, 1/8/2025, Insurance Business, 'UK insurance premium tax receipts rise to £8.88 billion')The UK P&I Club launched "UK Fixed," a fixed premium P&I product for smaller vessels, following the integration of Thomas Miller Specialty Marine, aiming to expand its market share and provide predictable pricing for operators of offshore support ships, tugs, and inland watercraft. (Josh Recamara, 1/8/2025, Insurance Business, 'UK P&I Club expands fixed premium offering')WTW reported 5% organic revenue growth in Q2 2025, driven by strong performance in its risk and broking segment, which saw a 7% revenue increase to $1.05 billion. Overall revenue was $2.26 billion, slightly down from $2.27 billion in Q2 2024 due to the sale of TRANZACT. Net income rose significantly to $332 million, up from $142 million a year earlier. The company continues to focus on its "Grow, Simplify & Transform" initiative, targeting $450 million in cost savings. (Kenneth Araullo, 31/7/2025, Insurance Business, 'WTW posts organic revenue growth in Q2 amid strong risk & broking results')Arch Capital Group reported Q2 2025 net income of $1.2 billion, down from $1.3 billion in 2024. Gross premiums in the insurance segment rose 27.5%, driven by the MCE acquisition, while the reinsurance segment saw an 8.7% increase in gross premiums. The underwriting expense ratio improved to 33.6%, supported by scale efficiencies. Despite a slight profit dip, Arch achieved strong premium growth and maintained a 22.9% return on equity. (Rod Bolivar, 31/7/2025, Insurance Business, 'Arch Capital Group's Q2 profit slips to US$1.2 billion')Intact Financial, RSA's parent company, reported a 4% rise in Q2 2025 premiums, driven by strong personal lines growth in Canada, including an 11% increase in personal auto premiums. The combined ratio improved to 86.1%, while net operating income reached $935 million. UK and Ireland premiums fell 5% due to portfolio adjustments, though underlying growth was 3%. The company anticipates high single-digit premium growth in personal lines over the next year. (Rod Bolivar, 31/7/2025, Insurance Business, 'RSA parent firm reports 4% Q2 premium growth')Avatar MGA has secured Lloyd’s coverholder approval and FCA authorisation, allowing it to begin binding US mid-market property risks from August 1, 2025. Backed by three Lloyd’s syndicates, Aon, and Santam, Avatar will underwrite properties with insured values of $25 million to $1 billion using a tech-driven underwriting model. This move supports Santam’s international growth and diversification goals. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Avatar MGA secures Lloyd’s approval, begins binding US property risks')Five firms were granted Chartered status by the CII in Q2 2025, recognising their commitment to professional and ethical standards. These include Morgan Williams & Co, M4 Financial Group, The Islands’ Insurance Brokers, Hepburns Insurance, and M.J. Touzel (Insurance Brokers) Limited, trading as Islands Insurance. (Josh Recamara, 31/7/2025, Insurance Business, 'Five firms granted Chartered status by the CII')Markel Group reported Q2 2025 revenues of $4.6 billion, up from $3.7 billion in 2024, driven by insurance revenues of $2.23 billion and $580.2 million in investment gains. Operating income rose to $1.1 billion, while the combined ratio increased to 96.9% due to adverse development in run-off lines. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Markel Group Q2 revenues climb as investment gains rebound')Everest Group reported Q2 2025 net income of $680 million, with a 14.8% annualised shareholder return. Reinsurance grew 1.6%, while insurance declined 3.3%. The combined ratio improved to 90.4%, driven by favourable reserve development and reduced catastrophe losses. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Everest posts net income recovery in Q2 as reinsurance lifts performance')Allianz UK has partnered with Sainsbury’s Bank to provide home and motor insurance starting November 1, 2025. This agreement aligns with Sainsbury’s shift to a brand-partner model and expands Allianz’s reach in the UK retail market. (Josh Recamara, 31/7/2025, Insurance Business, 'Allianz UK announces Sainsbury's Bank agreement')AXIS Capital reported Q2 2025 operating income of $261 million, driven by a 7% rise in insurance premiums, offsetting a 7% decline in reinsurance. Gross premiums grew 3% to $2.5 billion, while net income reached $216 million. (Kenneth Araullo, 30/7/2025, Insurance Business, 'AXIS Q2 operating income hits US$261 million as insurance segment drives growth')Aon’s Q2 2025 Global Insurance Market Insights report highlights a temporary window of lower rates and improved terms for insurance buyers, driven by increased market capacity. However, systemic risks like geopolitical tensions, climate events, and cyber threats could quickly reverse these conditions, making this soft market phase potentially short-lived. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Insurance buyers benefit from lower rates as Aon flags brief market window')MAPFRE’s report, 'The Future of Interaction: The Role of Interaction in a World Shaped by Intelligent Agents', explores how AI could transform insurance by 2035. It outlines four scenarios, ranging from limited digital progress to universal access to intelligent systems, highlighting trends like automation, seamless interactions, and rising data security expectations. Early adopters of AI in underwriting, claims, and customer service may gain a competitive edge. (Josh Recamara, 30/7/2025, Insurance Business, 'How AI could reshape insurance by 2035')Willis’ Natural Catastrophe Review predicts global insured losses from natural disasters in 2025 will exceed $100 billion for the seventh consecutive year. Major events like the $40 billion Los Angeles wildfires and record-breaking tornadoes in the US have already strained insurers, with an active hurricane season expected to add further pressure. (Mav Rodriguez, 29/7/2025, Insurance Business, 'Catastrophe costs show no sign of slowing in 2025 – Willis')Brown & Brown reported a 9.1% year-over-year revenue increase in Q2 2025, reaching $1.3 billion, driven by an 8.2% rise in commissions and fees and a 3.6% organic revenue growth. Adjusted EBITDAC rose 12.1% to $471 million, with a margin improvement to 36.7%. (Josh Recamara, 29/7/2025, Insurance Business, 'Brown & Brown reports strong Q2 revenue growth')The insurance industry continues to grapple with the fallout from the seizure of over 400 leased aircraft in Russia, with claims under hull war policies exceeding $3 billion. A UK High Court ruling confirmed coverage but emphasised aggregate limits, leading insurers to tighten terms and reassess risk models. According to WTW, the judgment has significant implications for policy response and market practices, with reinsurers reviewing exposures and potential disputes over loss definitions and aggregation clauses. WTW also noted broader underwriting caution across aviation classes, as further legal cases could shape recovery outcomes and market dynamics. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance industry faces fallout from Russian aircraft seizures')QBE has partnered with Matrix iQ to provide fleet clients with real-time insights into driver behaviour, claims trends, and operational risks. The platform integrates with telematics systems, consolidating data into a dashboard that includes ESG metrics for tracking emissions and sustainability. Jon Dye, QBE Europe’s motor underwriting director, highlighted the collaboration’s role in enhancing fleet management and aligning with QBE’s broader service goals. The system is being rolled out to select clients, with wider access planned soon. (Josh Recamara, 29/7/2025, Insurance Business, 'QBE partners up to enhance fleet risk insights')Aon reported $4.2 billion in Q2 2025 revenue, an 11% year-over-year increase driven by 6% organic growth and contributions from its NFP acquisition. Risk Capital revenue rose 8% to $2.9 billion, while Human Capital revenue grew 15% to $1.3 billion. CEO Greg Case highlighted strong client demand for advisory services amid a complex risk landscape. The NFP acquisition, completed in April 2024, has bolstered Aon’s middle-market presence and is expected to generate over $2.8 billion in value. (Kenneth Araullo, 28/7/2025, Insurance Business, 'Aon Q2 revenue climbs with NFP deal cited as a major booster')Branko Bjelobaba, a compliance consultant and industry advocate with nearly 40 years in insurance, warns the UK sector faces a talent crisis without better engagement with young people. With over a quarter of employees aged 50+, the industry risks a skills gap. Bjelobaba highlights its failure to promote itself effectively, noting only 11% of employees are aged 20-30. He calls for coordinated outreach, financial literacy education, and modernised messaging to attract fresh talent and secure the sector's future. (Bryony Garlick, 28/7/2025, Insurance Business, 'Can UK insurance survive without young talent?')BIBA CEO Graeme Trudgill visited Nigeria to strengthen ties with its growing insurance market. He met with key industry bodies to discuss broker development, regulation, and innovation, highlighting collaboration opportunities in a market with under 1% insurance penetration. (Josh Recamara, 28/7/2025, Insurance Business, 'BIBA CEO visits Nigeria to deepen ties with growing insurance market')​​​Mergers & AcquisitionsVerisk has acquired AccuLynx, a SaaS provider for roofing contractors, in a $2.35 billion deal to enhance its insurance claims and restoration network. The acquisition, expected to close in Q3 2025, will integrate AccuLynx’s tools into Verisk’s Property Estimating Solutions. Verisk also reported Q2 revenue growth of 7.8% to $773 million, with adjusted EBITDA rising 11.9% to $445 million. (Rod Bolivar, 31/7/2025, Insurance Business, 'Verisk acquires roofing software firm AccuLynx amid strong Q2 results')Movers​Liberty Specialty Markets has bolstered its energy division with three key hires: Alex Nelson, previously leading Chaucer Group’s onshore energy portfolio, joins as Underwriting Manager for power and renewables; Andrea Ciraci, with nine years at AXA and AXA XL underwriting power, renewables, and UK nuclear portfolios, becomes a Senior Underwriter; and Oliver Prout, with seven years of London market experience specialising in renewable energy contracts at Chaucer, also joins as a Senior Underwriter. These appointments aim to expand its renewables portfolio, including wind, solar, and battery storage projects. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Liberty Specialty Markets boosts energy team with three key renewables hires')Starting November 1, Dennis Siebrasse will take on the role of Head of Liability Underwriting Europe at HDI Global. Previously Head of Technical & Strategic Services – long tail, Siebrasse will now oversee underwriting activities across HDI Global’s core European markets. Dr Pascal Nef, formerly leading Swiss Re’s Risk Consulting & Analytics team for EMEA, will succeed Siebrasse, leveraging over a decade of experience in insurance analytics. Since March, Mark Appleton has managed HDI Global’s local liability units on an interim basis, contributing to the development of the company’s liability portfolio. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')Sarah Penny has been named Client Services Director for Gallagher Bassett’s UK operations, reporting to Chief Operating Officer John Fearn. In her new role, Penny will manage corporate and carrier client relationships while collaborating with the business development team to improve client onboarding and enhance services. With 15 years of insurance experience, Penny has held roles at Previsico, Liberty Specialty Markets, Pen Underwriting, Ecclesiastical, and Allianz Insurance, progressing from claims handler to management positions in relationship management, business development, and partnerships. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')Towergate Employee Benefits has named Roberto Russo as Global Benefits Management – Principal Consultant. Reporting to Sarah Dennis, Russo will handle client relationships, business development, and team support. With nine years’ experience at Generali and MAXIS, he brings expertise in global benefits strategies and financing solutions. Russo will also mentor team members and support client growth initiatives. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')Arch Insurance International has promoted David Maher to Chief Information Officer (CIO), effective immediately. Maher will lead the company’s technology strategy and infrastructure to enhance operational efficiency and scalability. Joining Arch in 2024 as International Head of Delivery, he previously held senior technology roles at Lloyds Banking Group, Bank of America Merrill Lynch, Direct Line Group, WTW, and UBS, bringing over 25 years of financial services technology experience. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')The Financial Conduct Authority has named Liam Coleman as interim Chair of the Financial Ombudsman Service, effective October 10, 2025. Succeeding Baroness Zahida Mazoor, Coleman brings over 30 years of experience, including roles as CEO of The Co-operative Bank and senior treasury positions at RBS and Nationwide. He also chairs boards such as Great Western Hospitals NHS Foundation Trust and London and Quadrant Housing Trust. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')Victor Insurance UK has promoted Paula Saxon to UK Agriculture Product Lead, overseeing underwriting strategy, profitability, and growth for the agriculture portfolio. She succeeds Sarah Robinson, who moved to the US to support Victor US Specialty’s agriculture program. With over 14 years of experience in agricultural insurance and broking, Saxon joined Victor in 2022 after leading farm underwriting operations at AIUA/Geo Agriculture. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')Volante Global has appointed former StarStone CEO Demian Smith as its new Chief Executive Officer, pending regulatory approval. With 30 years of experience in broking and underwriting, Smith previously held leadership roles at Guy Carpenter and StarStone Group. He succeeds interim CEO Martin Reith, who will remain as Chairman. Smith’s appointment aligns with Volante’s expansion efforts, including the launch of its treaty reinsurance platform, Volante Re, and recent leadership additions to strengthen its MGA and syndicate operations. (Kenneth Araullo, 28/7/2025, Insurance Business, 'Former StarStone CEO Demian Smith to head Volante Global')​All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting
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Financial Services newsletter Friday 1st August 2025

​​Financial Services NewsSchroders' wealth management arm posted an adjusted operating profit of £110m in H1 2025, up 24% from 2024. The division added £2.7bn in net new business (NNB) in Q2, with contributions from Schroders Personal Wealth (£300m) and Benchmark Capital (£0.9bn). Wealth management assets under management (AUM) grew to £145bn, up from £142.5bn in 2024. Schroders' overall AUM remained stable at £776.6bn, with gross inflows rising 8% year-on-year to £68.2bn. Its transformation programme, launched in March, has already cut operating expenses by £21m and targets £150m in annualised cost savings by 2027. (Darius McQuaid, 31/7/2025, Money Marketing, 'Schroders’ wealth management business records £110m profit')Five Financial Planning and insurance firms, including Morgan Williams & Co (East Yorkshire), M4 Financial Group (Swansea), The Islands' Insurance Brokers, Hepburns Insurance, and M.J. Touzel (Insurance Brokers) Limited t/a Islands Insurance, have achieved the Chartered Insurance Institute's (CII) Chartered Corporate status. This recognition reflects their proven technical competence, adherence to the CII Code of Ethics, and commitment to professional standards, public trust, customer-centric practices, and ongoing development of the profession. (Financial Planning Today, 31/7/2025, '5 new firms achieve CII Chartered Corporate status')St James’s Place reported record funds under management of £198.5 billion, driven by £10.5 billion in gross inflows and £3.8 billion in net inflows, with IFRS profit after tax rising to £279.5 million, supported by share buy-backs totaling £95.5 million and continued growth in client numbers (over 1 million) and adviser headcount (4,952). (Financial Planning Today, 31/7/2025, 'St James's Place FUM hits record £198.5bn')Jupiter Fund Management reported a 4% rise in assets under management (AUM) to £47.1bn in the first half of 2025, up £1.8bn. However, AUM was down £4.2bn compared to June 2024. Net outflows totalled £0.2bn, though institutional momentum and improving retail flows led to positive net flows in Q2. Operating costs were reduced by £3.7m to £125.4m, but underlying profit before tax fell by a third to £30.4m, with statutory profit dropping 25% to £27.5m. (Financial Planning Today, 25/7/2025, 'Jupiter assets rise by £1.8bn in 6 months')Rathbones will launch a new ‘true active’ model portfolio service (MPS) range, its first since merging with Investec Wealth & Investment. The seven portfolios, managed by Andrea Yung and using in-house funds led by David Coombs, cater to varying risk levels with a 0% discretionary fee and charges capped at 0.5%. Available on 14 platforms by autumn, existing MPS clients can transition to the new service. (Financial Planning Today, 25/7/2025, 'Rathbones adds active MPS in first launch after Investec merger')Financial Planning firms are seeing growth in average client portfolio size and AUM, according to Financial Planning Today's annual survey. Average funds under advice rose to £840m (2024: £690m), with average client portfolios exceeding £500k at £516k. Firms advising on portfolios over £1m nearly doubled to 7% (2024: 4%). The most common portfolio size remained £251k-£500k (38%), followed by £100k-£250k (32%). At the larger end, 19% of firms managed £500m+ in FUM, while 12% reported £5bn+ compared to 6% last year. (Financial Planning Today, 25/7/2025, 'Planners report rise in average client portfolio size')Pension transfers have hit their highest level since August 2023, with XPS Group’s Transfer Activity Index rising to 25 members per 1,000 transferring benefits in June. The Transfer Value Index also increased to £141,000, its first month-end rise this year, though still 10% lower than mid-2024. Scam warnings flagged in 88% of cases reviewed in June, up 3% from May, with ‘overseas investment’ remaining the most common warning sign. (Financial Planning Today, 24/7/2025, 'Pension transfer at highest level for 2 years')Capital gains tax (CGT) receipts fell 12.9% year-on-year to £11.77bn from January to June 2025, despite rate increases in the latest Budget. CGT has been declining, dropping from nearly £17bn in 2022-23 to £13.1bn in 2024-25. Receipts typically reflect asset sales from the prior tax year, with a January spike due to Self-Assessment deadlines. (Financial Planning Today, 23/7/2025, 'CGT receipts drop 12.9% for first half of 2025')A Women in Personal Finance survey found 93% of women in or previously in Financial Planning would recommend the role, yet only 36% would consider it themselves. Over half (56%) of women not in the field wouldn’t consider it as a career. Barriers include the sector being seen as male-dominated (84%), lack of awareness (49%), and perceptions that finance isn’t for women (47%). The research was commissioned by the Women’s Wealth Alliance. (Financial Planning Today, 22/7/2025, '93% of female Financial Planners would recommend the role')Inheritance tax (IHT) receipts rose 6% year-on-year to £2.2bn from April to June, up £134m from £2.09bn last year, according to HMRC. The OBR forecasts IHT will hit £9.1bn in 2025/26 and exceed £14bn by 2029/30. Rising asset prices and frozen thresholds are driving record collections, with IHT becoming a key revenue source amid strained public finances. (Financial Planning Today, 22/7/2025, 'IHT receipts climb 6% to £2.2bn')National IFA Continuum, owned by M&G, reported a 17% year-on-year rise in assets under influence to £2.6bn in H1, driven by new and existing clients. New business income grew 23% to over £2.5m, with June setting a record £1.3m in monthly income, up 5%. Nine advisers joined, bringing the total to 81, while average adviser productivity rose 9% to £227,498. (Financial Planning Today, 21/7/2025, 'National IFA Continuum reports AUI up 17%')Global Certified Financial Planner (CFP) numbers rose 3.1% in 2024 to 230,648, up 6,878, according to the FPSB’s Annual Report. UK CFPs grew to 1,064, up 33, while Ireland surpassed 1,000, reaching 1,006. Since 2020, global CFP numbers have risen nearly 38,000, with milestones in the U.S. (100,000+), Brazil (10,000+), South Africa (5,000+), India (3,000+), and Ireland (1,000+). (Financial Planning Today, 17/7/2025, 'Global CFP Professional numbers up 3.1% to top 230,000')Men have double the pension savings of women, with average pots of £92,000 compared to £39,000, and larger personal assets (£145,000 vs. £79,000), according to Royal London. Men also feel more confident managing pensions, with 44% confident in combining or transferring pensions versus 29% of women. Single savers average £30,500 in pensions, divorced savers £39,500, and married savers £97,000. The report coincides with Chancellor Rachel Reeves’ Mansion House speech, expected to launch a pensions adequacy review. (Financial Planning Today, 15/7/2025, 'Men’s pension pots more than double women’s - report')Aegon has launched a Junior SIPP to support advisers with intergenerational planning, responding to rising demand as pensions come under inheritance tax from April 2027. The Junior SIPP is free of platform charges until the child turns 18, then converts to a standard SIPP, with investment fund charges applying. (Financial Planning Today, 15/7/2025, 'Aegon launches Junior SIPP')Brooks Macdonald reported £5m in net outflows for Q2, down from £129m the previous quarter, with assets under management rising to £19.2bn. Its platform managed portfolio service saw £165m in net inflows, achieving 14% annualised growth. The firm credits improved client engagement and acquisitions for the turnaround and will release full-year results on 4 September. (Financial Planning Today, 10/7/2025, 'Net outflows drop 96% for Brooks Macdonald')The Private Office has warned against cutting the £20,000 Cash ISA allowance, arguing it won’t drive more risk-based investing. Speculation suggests Chancellor Rachel Reeves may announce the cut in her Mansion House speech to encourage investment and boost UK growth. However, research by The Private Office found 53% of 4,300 savers hold cash for retirement planning, while 76% see earning competitive interest as key to their financial strategy. Only 11% cited lack of investment knowledge as a reason for holding cash. (Financial Planning Today, 9/7/2025, 'Chartered adviser warns govt against cutting cash ISAs')Chase de Vere reported a 24.2% rise in pre-tax profits to £31.9m for 2024, with revenue up 13.6% to £118.6m. The firm attributed its strong performance to client referrals, affinity partnerships, acquisitions, and exceptional client feedback. (Financial Planning Today, 8/7/2025, 'Profits climb 24% to £32m at Chase de Vere')Brooks Macdonald has launched a new Financial Planning brand, Brooks Financial, to unify its growing Financial Planning business. The brand consolidates the acquisitions of LIFT-Financial, Lucas Fettes, and CST, reflecting Brooks Macdonald’s ambition to provide high-quality, independent Financial Planning advice across the UK. (Financial Planning Today, 1/7/2025, 'Brooks Macdonald launches Financial Planning brand')Aberdein Considine, the Scottish wealth manager and Financial Planner, has separated its wealth division into a new business, AC Wealth, as part of its plans to establish one of Scotland’s largest Financial Planning firms. Long-standing Financial Planners Russell Anderson, Alan Davidson, and Sam Goult will become shareholders in the new company. With FCA approval, AC Wealth will operate as an independent business, with 13 Financial Planners and 23 staff transferring over. The firm stated that corporate and private clients will continue to receive comprehensive Financial Planning services. (Financial Planning Today, 30/6/2025, 'Aberdein Considine creates Financial Planning firm')The wealth tax uncertainty: impact for wealth managers and their clients - Navigating the challenges of a potential UK wealth tax for your clients? Our article explores its implications for wealth managers and their clients, offering key insights and strategic advice for proactive financial planning, and risk mitigation. Read for useful insight. (IDEX Consulting news, 'The wealth tax uncertainty: impact for wealth managers and their clients')M&A resource library - Access our free resources where M&A buy-and-sell leaders, and tax, regulatory and legal experts share simple but strategic advice on how to attract the best buyers in the market, maximise your sale value and manage a smooth transaction. (IDEX Consulting news, 'M&A resource library')IDEX Consulting unveils employer value proposition and can help you do the same - IDEX has successfully developed a powerful Employer Value Proposition to raise its profile in the consultancy market. With our proven expertise, we can help your business craft a compelling story to attract top talent, customers and investment. Check out our visually engaging EVP for inspiration to help you win against competitors. (IDEX Consulting news, 'IDEX Consulting unveils employer value proposition and can help you do the same')IDEX Consulting appoints new Head of Internal Recruitment - If you're seeking a new recruitment opportunity, our dedicated team is here to support you. Led by Michelle Paish, an experienced consultant of over 18 years at IDEX, our talent team is focused on helping you achieve your career goals. We provide a seamless onboarding experience and offer continuous support for your professional development, ensuring you have everything you need to thrive. (IDEX Consulting news, 'IDEX Consulting appoints new Head of Internal Recruitment')Mergers and AcquisitionsEnabled by IDEX Consulting, Titan Wealth plans to acquire Finance Shop (£750m AUA) and FS Wealth Management (£340m discretionary mandate), boosting its total assets under management and advice to £37bn, while enhancing its East Anglia presence and expanding client services with a focus on face-to-face advice and local expertise. (Isabel Baxter, 30/7/2025, Professional Adviser, 'Titan Wealth acquires £750m AUA Finance Shop and FS Wealth Management')Brookfield Wealth Solutions (BWS), a Bermuda-based insurance firm, has agreed to acquire UK retirement and annuity provider Just Group for £2.4 billion, merging it with its subsidiary Blumont Annuity Company. The merger is strategically aimed at accelerating BWS's growth in the UK, a key global pension market with attractive investment opportunities, while enabling Just Group to leverage BWS's scale and expertise to expand its reach and enhance its retirement solutions. Just's management will lead the combined group. (Financial Planning Today, 31/7/2025, 'Bermuda-based firm swoops on Just Group for £2.4bn')Westerby Group, a wealth adviser and pensions firm, has acquired Bristol-based pension specialist Cabot Trustees Limited, marking its fourth acquisition since 2022 and bringing its assets under administration and management to over £2bn. The deal, expanding Westerby’s reach across England, adds a Bristol office to its existing locations in Weymouth, Manchester, and Leicester. (Financial Planning Today, 29/7/2025, 'Westerby snaps up Bristol pension firm')Salford-based financial adviser Frenkel Topping is in ongoing discussions with private equity firm Harwood over a £68m takeover bid. Harwood initially proposed a cash offer of 50p per share or an alternative of 10p per share plus shares in a new company, allowing shareholders to retain a 1.375p final dividend. The deadline for a formal offer has been extended to 25 August with the agreement of Frenkel Topping's independent directors and the UK Takeover Panel. (Financial Planning Today, 28/7/2025, 'Deadline extended for £68m Frenkel Topping bid')Jupiter Fund Management will acquire specialist asset manager CCLA Investment Management for £100m, adding over £15bn in assets under management. CCLA serves non-profits, including charities, religious institutions, and local authorities. The deal, funded from Jupiter’s cash reserves, is expected to complete by year-end, pending regulatory approval. CEO Matthew Beesley said the acquisition broadens Jupiter’s client base and strengthens its UK presence while retaining CCLA’s brand and investment teams. (Financial Planning Today, 10/7/2025, 'Jupiter acquires £15bn AUM non-profit specialist asset manager')Partners Wealth Management, part of the 7IM group, has acquired Surrey-based Navigate Capital Management, adding £170m AUM and 175 clients. The deal brings Partners’ total AUM to £6.2bn, serving 5,700 private clients. Navigate will rebrand as Partners Wealth Management but retain its Guildford office, combining regional expertise with Partners’ scale and resources to enhance wealth management services. (Financial Planning Today, 9/7/2025, '7IM's Partners acquires £170m AUM Surrey Planner')EQ Investors has decided to remain independent after rejecting offers from potential strategic partners. The London-based wealth manager had been exploring ownership changes but concluded that independence is the best option for its clients, colleagues, and shareholders. (Financial Planning Today, 8/7/2025, 'EQ Investors scraps talks with potential suitors')Finli Group, formerly Solomon Capital Holdings, has acquired six more Financial Planning firms, bringing its total acquisitions in the past four months to 11. The latest deals add over £264m in assets, taking the firm’s total acquisitions to 51. The newly acquired firms include Accomplish Wealth Management, G&D Bignell, Wynford Davies & Co, Wheeler Wicks & Co, EP Wealth Management, and GTM Financial, expanding Finli’s reach across the UK. (Financial Planning Today, 8/7/2025, 'Finli acquires 6 more Financial Planning firms')Chesnara, the European life and pensions consolidator, has acquired HSBC Life (UK) for £260m. HSBC Life (UK), a specialist in life protection and investment bonds, holds assets of approximately £314m as of 31 December. The acquisition will increase Chesnara’s UK assets under administration to around £4bn, covering approximately 454,000 policies. The deal will be funded through internal cash (£55m), a £65m drawdown from its revolving cash facility, and the issuance of new shares. Completion is expected early next year, pending regulatory approvals. (Financial Planning Today, 3/7/2025, 'Consolidator snaps up HSBC UK life and bond arm')Shackleton has acquired South West-based Financial Planning and wealth management group Chetwood, adding £900m in AUM. The deal, Shackleton’s fourth this year, increases its total assets under advice and management to £8bn and adds 45 staff, bringing its total workforce to 450. The Chetwood Group includes Chetwood Wealth Management, Chetwood Investment Management, Chetwood Private Wealth, Ermin Fosse Financial Management, and Darnells Wealth Management. Chetwood Bank is not part of the deal. (Financial Planning Today, 3/7/2025, 'Shackleton buys £900m AUM South West Planner Chetwood')Evelyn Partners has completed the sale of its fund solutions business to Thesis for an undisclosed sum. The deal transfers 75 staff, primarily based in Glasgow, to Thesis. Evelyn Partners Fund Solutions Limited (EPFL) manages £10.6bn in assets under governance, supporting 161 funds across 40 sponsors and investment managers. The sale, initially announced in January, was subject to regulatory approval. (Financial Planning Today, 1/7/2025, 'Evelyn completes sale of fund solutions business to Thesis')Succession Wealth, owned by Aviva, has completed the integration of Leeds-based Financial Planning and wealth manager True Wealth Group. Succession acquired the £1.1bn AUA firm in November 2024 for an undisclosed sum. The integration supports Succession’s national growth strategy, preserving client continuity, adviser relationships, and cultural alignment. It also broadens Succession’s UK reach, advancing its goal to become the trusted home of financial advice. (Financial Planning Today, 1/7/2025, 'Succession completes integration of £1.1bn AUA True Wealth')​MoversCanaccord Wealth has expanded its adviser market team with the addition of Matthew Keen and Michael Clark. Keen, with nearly 20 years of experience, joins from Charles Stanley & Co, where he specialised in tailored solutions for intermediaries, and previously worked at Scottish Widows promoting pension propositions. He will oversee the South East of England. Clark, with over a decade in financial services, joins from Wealthtime as a regional sales manager and previously held various sales roles at Canada Life, focusing on investment and retirement solutions. He will cover the East of England, supporting Canaccord's growth strategy across the UK. (Financial Planning Today, 30/7/2025, 'Canaccord Wealth expands IFA market team')Johnston Carmichael Wealth, part of 7IM group’s Partners Wealth Management, has appointed Leigh Townsley as a Chartered Financial Planner. With 25 years of experience, including 18 as a qualified Financial Planner, she previously worked at NFU Mutual, specialising in rural Financial Planning, and at Lomond Wealth in Glasgow. She holds a BA in Financial Services and advanced qualifications in pensions, taxation, and trusts. (Financial Planning Today, 29/7/2025, 'Johnston Carmichael Wealth adds Chartered Planner')Steve Hutton has stepped down as CEO of True Potential Wealth Management after eight months in the role. With 36 years of industry experience, he joined the firm in 2018 from UBS Asset Management as Head of Strategic Acquisitions, helping drive its rapid growth. Previously, he was a UK board member at UBS, led Fidelity International’s IFA sales team, and held roles at Scottish Widows and Invesco Perpetual. Earlier in his career, he spent five years as an IFA specialising in professional connections. (Financial Planning Today, 28/7/2025, 'True Potential Wealth Management CEO Hutton exits')Liam Coleman, former Co-op Bank CEO, has been appointed interim Chair of the Financial Ombudsman Service by the FCA, starting 10 October. He succeeds Baroness Zahida Manzoor, who steps down on 1 August after two terms. With over 30 years of financial services and board experience, Coleman has held senior roles at RBS and Nationwide and currently chairs several NHS and housing trusts. He will leave his role as an FCA Non-Executive Director to take up the position. (Financial Planning Today, 28/7/2025, 'Former Co-op Bank CEO appointed interim FOS chair')Westminster Wealth Management has appointed former Fairstone Director Mark Hewson as Director of Business Operations. Previously Managing Director of Fairstone’s City of London office and a Divisional Director, Hewson will focus on operational excellence, working with Managing Partner Martin Lockyer and the leadership team to implement the firm’s strategic vision. He will also support adviser recruitment and onboarding efforts. (Financial Planning Today, 28/7/2025, 'London Chartered Planner recruits Fairstone director')Nick Kirrage, a veteran Fund Manager at Schroders, is leaving after 23 years. Known for his disciplined value investing approach, Kirrage played a key role in shaping the firm’s Value Equities team and delivering long-term outperformance. He will be succeeded by Simon Adler, a 16-year Schroders veteran specialising in Global and International Value. (Momodou Musa Touray, 23/7/2025, 'Nick Kirrage to leave Schroders after 23 years')Chartered Financial Planner Andrew Gardiner has left his role as Associate Director with Lowes Financial Management in Newcastle after it was taken over by national firm Saltus. He has joined rival Newcastle Financial Planning firm Greenarch Wealth Management. Mr Gardiner said: “After many years delivering independent advice at Lowes, I felt it was vital to remain aligned with a firm that shares my values, putting clients first and offering truly independent advice. Greenarch stood out as a locally-rooted Chartered firm with ambition.” (Financial Planning Today, 21/7/2025, 'Planner leaves Newcastle firm after takeover by Saltus')Cooper Parry Wealth has appointed David Kendrick as its new MD, succeeding retiring CEO Stephen Jones, who spent 20 years building the business. Kendrick joined the Derby-based firm in October 2024 after leading the merger with UHY Hacker Young Manchester, where he was CEO. Cooper Parry Wealth, with £1.5bn AUM, serves 900 families and employs over 73 staff. The firm shifted focus to Financial Planning in 2010. Kendrick will assume his role this summer, pending regulatory approval. (Financial Planning Today, 17/7/2025, 'New MD for Cooper Parry Wealth as CEO retires')Evelyn Partners has appointed Philip Lewis, formerly of Fisher Investments UK, as Head of Financial Planning advice. In this new role, he will oversee all aspects of Financial Planning advice, working with a team of 300 professionals and reporting to Chief Financial Planning Officer Emma Sterland. Lewis spent eight years at Fisher Investments UK, where he oversaw UK advice and suitability. (Financial Planning Today, 14/7/2025, 'Evelyn creates new role of Head of Financial Planning Advice')Belmayne has recruited Chartered Financial Planner Alex Napier to expand its reach into Sheffield. Napier, formerly with Forest Oak Financial Planning, brings over a decade of experience, specialising in complex client situations and collaboration with other experts. (Financial Planning Today, 8/7/2025, 'Belmayne expands into Sheffield')Greaves West & Ayre has expanded its wealth management team with the addition of three newly qualified IFAs: Daniel Bullen, Matthew Brown, and Tony Douglas. The appointments bring the team to eight advisers. Douglas joined in 2021 after earning a business and finance degree, while Bullen, a former Paraplanner, gained his diploma in 2023. Brown began his financial advice career after graduating from the University of Leeds in 2018, progressing from trainee to qualified adviser in 2021. (Financial Planning Today, 3/7/2025, 'Northumberland accountancy firm adds adviser trio')Emma Watkins, former Senior Executive at Scottish Widows, will become UK CEO at Canada Life on 1 September. Watkins, who spent a decade at Scottish Widows as Managing Director of Retirement, succeeds Lindsey Rix-Broom, who will transition to CEO, Europe, at parent firm Great-West Lifeco. At Scottish Widows, Watkins built a £6bn bulk annuity business, drove annuity portfolio growth, and led the modernisation of annuity operations. Prior to this, she was a Partner at pensions consultancy Lane Clark & Peacock LLP and held senior roles at MetLife Assurance and Ace European Group. (Financial Planning Today, 3/7/2025, 'Canada Life looks to Scottish Widows for new UK CEO')Fairstone, the expanding Financial Planner and wealth manager, is set to appoint a new Chief Executive to succeed Founder Lee Hartley. Hartley, who launched the national wealth advisory firm nearly 18 years ago, will transition to the role of Deputy Chair on 1 October. He stated that the change marks a natural evolution for both himself and the business. (Financial Planning Today, 1/7/2025, 'Fairstone to hire new CEO to replace Hartley')​All information provided in this market digest has been gathered from Financial Planning Today, Money Marketing, Professional Adviser, and IDEX Consulting.
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The wealth tax uncertainty: impact for wealth managers and their clients

The potential introduction of a wealth tax in the UK, highlighted by ongoing discussions surrounding the Autumn Budget 2025, has created ripples across the financial services sector. Post the pandemic, the most disadvantaged groups saw their incomes drop by 7.5% in real terms, while the wealth of the richest fifth was estimated to have grown by 7.8% (Equality Trust: The scale of economic inequality in the UK). With the UK facing economic challenges and an estimated £2.7 trillion national debt, a wealth tax is being eyed as a potential solution to stabilise public finances. While no formal proposal exists, the idea is sparking widespread discussion.For wealth managers and their high-net-worth clients, this development brings both challenges and opportunities, requiring proactive planning and strategic adjustments. What is wealth tax? A wealth tax is a levy on an individual’s net assets rather than their annual income. It encompasses holdings like real estate, savings, investments, and personal property. Wealth taxes can be categorised into two primary forms:Annual wealth tax: A recurring charge on total wealth above a specific threshold.One-time wealth tax: A temporary measure to address extraordinary fiscal demands, often introduced during national crises. The debate over wealth taxes in the UK has been sparked by proposals such as a 2% yearly tax on wealth exceeding £10 million. This approach, according to recent studies, would affect only 0.04% of the population, an estimated 20,000 individuals, and could raise as much as £24 billion annually. While such a measure has its proponents, complexities around valuation, compliance, and administration make its potential implementation a polarising issue among policymakers.Political and economic context The UK’s financial landscape is marked by persistent economic uncertainty, compounded by post-Brexit trade dynamics, inflationary pressures, and government borrowing that reached its second-highest June figure since 1993. Against this backdrop, the Chancellor of the Exchequer, Rachel Reeves, faces calls to find ways to bolster the Treasury’s resources without increasing taxes on working individuals.Thus far, Reeves has not ruled out the possibility of introducing a wealth tax, though she has remained noncommittal. The Labour government previously pledged not to raise income tax, VAT, or national insurance contributions, creating pressure to explore alternative revenue streams such as taxing wealth. Campaigners emphasise that wealth inequality in the UK has steadily risen, with the number of billionaires steadily, underscoring a growing disparity between the ultra-rich and those struggling with rising cost of living expenses.Debates around wealth tax implementation are not limited to fairness. Concerns over administrative costs, valuation complexities, and behavioural reactions (such as capital flight) weigh heavily on policymakers' decisions, with arguments from both advocates and critics shaping public discourse. What does this mean for wealth managers?For those working across the Wealth Management sector the uncertainty surrounding a potential wealth tax introduces a set of challenges and opportunities that demand agility and foresight in client management.1. Spike in client enquiries and advisory needs Wealth managers are already observing an uptick in enquiries from clients concerned about potential changes in their tax liabilities. Questions typically centre around mitigating exposure to new levies and making strategic adjustments to personal and corporate holdings. This creates an urgent need for financial advisors to not only reassure their clients but also offer tailored strategies to align portfolios with potential regulatory shifts. 2. Capital flight concerns One of the primary fears associated with a wealth tax is the possibility of capital flight. Affluent individuals may consider transferring assets or relocating to jurisdictions with more favourable tax regimes. Though such behaviours are often less widespread than anticipated, with studies noting that “just 0.01% of the richest households relocated after wealth tax reforms were introduced in Norway, Sweden and Denmark” (Tax Justice UK: How would a wealth tax work in practice?). These concerns often influence clients’ decisions, making it even more important for wealth managers to offer strategic guidance grounded in facts.3. Investment strategies Uncertainty about future policy changes may lead clients to adopt more cautious investment tactics. Wealth managers must explore options such as higher liquidity allocations, tax-efficient investments, and diversifying holdings to hedge against potential market or legislative volatility. Additionally, the prospect of increased taxes on traditional assets could accelerate interest in alternative investments, such as private equity or assets held overseas. It’s imperative that wealth managers stay ahead of global market trends, diversification opportunities across asset classes and geographies, and tax efficient strategies.What does this mean for clients?The ramifications of a potential wealth tax extend beyond the advisory realm, influencing clients’ financial behaviours and planning priorities. 1. Potential knee jerk responses The spectre of a wealth tax may prompt some clients to consider pre-emptive measures such as estate planning, intergenerational wealth transfers, and charitable contributions. However, hurried actions could backfire; for instance, early liquidation of assets to avoid taxation could trigger additional costs like capital gains tax, undermining the intended objectives. The Tax Justice Network have suggested that for each percentage of wealth tax, reported wealth could fall by 14% due to behavioural responses like migration and shifting assets (Tax Policy Associates: Number of OECD countries levying individual net wealth taxes).2. Asset reallocation Clients concerned about potential tax implications might look to reallocate assets into categories that are traditionally exempt from wealth taxes or are harder to value. Assets like pensions, offshore accounts, or complex trusts may become more attractive. However, these strategies could draw scrutiny from regulators, emphasising the need for compliance and cautious navigation of legal frameworks.3. Intensified tax planning While annual wealth taxes have never been implemented in the UK, existing measures like inheritance tax (IHT), capital gains tax (CGT), and council tax already contribute to the taxation of accumulated wealth. Faced with the possibility of additional tax burdens, many high-net-worth individuals are likely to explore in-depth tax planning solutions. Wealth managers will need to collaborate with tax specialists to ensure robust strategies that address both compliance and optimisation.A proactive approach For financial advisors and wealth managers, the key to navigating these turbulent times lies in a proactive and strategic approach. This includes:Scenario planning: Preparing for various outcomes based on potential tax structures and thresholds, while providing clients with actionable strategies for each scenario.Effective and consistent communication: Building trust through consistent, transparent updates about regulatory developments and their implications.Leveraging technology: Utilising advanced data analytics, compliance tools, and fintech platforms to optimise portfolio management and risk assessment.By taking a proactive stance, financial advisors can mitigate fears, provide clarity, and position themselves as indispensable partners to their clients.Maintaining focus on clarity, compliance, and adaptability will ensure resilience in the face of potential changes to the UK’s wealth taxation landscape.If you're looking for further intel on the market, support to find top talent or for a new career opportunity contact one of our financial service consultants.​Resources DS Burge & Co: What is a wealth tax? Labour’s potential proposal explainedEquality Trust: The scale of economic inequality in the UKTax Justice UK: How would a wealth tax work in practice?Tax Policy Associates: Number of OECD countries levying individual net wealth taxesPie: Wealth tax in the UK, what it might look like
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General Insurance newsletter Friday 25th July 2025

​​Insurance NewsIDEX Consulting unveils employer value proposition: Making the unbelievable achievable- IDEX's new Employer Value Proposition (EVP) is centered on empowering individuals to achieve personal and professional goals while driving business growth. With a focus on inclusivity and innovation, IDEX provides a supportive ecosystem equipped with cutting-edge tools and resources, enabling employees to excel. This initiative reinforces IDEX’s dedication to creating a culture where personal ambitions are prioritised before business success, setting it apart from competitors.(IDEX Consulting news, 'IDEX Consulting unveils employer value proposition: Making the unbelievable achievable')M&A resource library - Access our free resources where M&A buy-and-sell leaders, and tax, regulatory and legal experts share a range of useful guidance, including; how to maximise your sale value and manage a smooth transaction. (IDEX Consulting news, 'M&A resource library')IDEX Consulting appoints new Head of Internal Recruitment - With over 18 years at IDEX, Michelle Paish will focus on attracting top talent, streamlining onboarding, and ensuring new hires thrive. This strategic role aligns with IDEX’s commitment to delivering exceptional client service and expanding its global footprint. (IDEX Consulting news, 'IDEX Consulting appoints new Head of Internal Recruitment')Neurodiverse recruitment - effective strategies- Neuro-inclusive recruitment practices emphasise training, inclusive processes, and modernised hiring methods to support neurodivergent individuals. Key recommendations include educating employees on legal rights, fostering open communication about adjustments, simplifying job descriptions, and avoiding reliance on automated screening systems.(IDEX Consulting news, 'Neurodiverse recruitment - effective strategies')Hagerty has signed a non-binding letter of intent with Markel to take full control of its underwriting and investment operations starting January 1, 2026. Under the proposed agreement, Hagerty Re will assume 100% of premiums, transitioning Markel to a fronting carrier role. This move aims to enhance profitability, operational control, and financial clarity while maintaining policyholder relationships. (Jonalyn Cueto, 24/7/2025, Insurance Business, 'Hagerty unveils plan to take full control of underwriting under new Markel deal')MAPFRE posted a €570 million net profit in H1 2025, up 23.6% year-on-year, with premiums rising 5.3% to nearly €16 billion. The Non-Life combined ratio improved to 93.1%, and return on equity increased to 12.2%. Strong results came from Iberia (€239 million, up 42.4%) and North America (€60 million, up 47.7%). (Jonalyn Cueto, 24/7/2025, Insurance Business, 'MAPFRE reports jump in H1 profit')Chubb reported $14.2 billion in Q2 premiums, a 6.3% increase, with strong growth in P&C and life insurance, while achieving a 33.1% rise in net income to $2.97 billion. (Rod Bolivar, 23/7/2025, Insurance Business, 'Chubb sees $14.2 billion in Q2 premiums')Westfield Specialty achieved $890 million in GWP for H1 2025, up 13%, driven by strong US (21.5% growth) and international (5.4% growth) performance, with a combined ratio of 89.4%. (Rod Bolivar, 23/7/2025, Insurance Business, 'Westfield enjoys 13% rise in first half of 2025 GWP')Personal Group reported an 11% revenue increase to £23.3m in H1 2025, driven by record insurance sales of £7.4m in annualised premium income, supported by a direct sales strategy and new client acquisitions. (Kenneth Araullo, 23/7/2025, Insurance Business, 'Personal Group lifts H1 revenue with record insurance sales')The International Underwriting Association (IUA)called for clear regulations to support autonomous aviation insurance, emphasising safety and liability clarity for technologies like air taxis and drones. It highlighted the need to adapt laws, traditionally focused on pilot error, to address AI and automation. (Rod Bolivar, 23/7/2025, Insurance Business, 'IUA urges regulation for autonomous aviation cover')A Microsoft SharePoint breach, linked to Chinese state-backed hackers, has compromised over 100 organisations globally, raising concerns about systemic cyber risks. Insurers warn of increased claims and systemic risk exclusions as the attack highlights vulnerabilities in widely used enterprise software. (Matthew Sellers, 22/7/2025, Insurance Business, 'Microsoft SharePoint breach puts insurance market on alert as clients scramble to contain damage')The FCA's report on claims handling and premium finance highlights rising costs and regulatory gaps, urging insurers to improve transparency and customer outcomes. Industry leaders, including ABI, BIBA, and PwC, emphasised the need for innovation, better claims processes, and collaboration to address inflation and supply chain challenges. (Kenneth Araullo, 22/7/2025, Insurance Business, 'Industry weighs in on FCA's claims handling and premium finance report')A Howden survey revealed that 68% of UK SMEs are not using salary exchange schemes, missing out on £4.5 billion in potential National Insurance savings for employers and employees. Despite fiscal pressures, low awareness and adoption hinder uptake, with only 29% of SMEs implementing the scheme for pensions. (Kenneth Araullo, 22/7/2025, Insurance Business, 'Most SMEs overlook NI savings by not using salary exchange – Howden')Victor, in partnership with HSB, launched a contractors all risks (CAR) insurance product in the UK, offering up to £10m coverage per project. The tech-focused policy addresses risks from modern construction methods, including AI, drones, and remote monitoring, targeting contractors with revenues up to £20m. (Kenneth Araullo, 22/7/2025, Insurance Business, 'Victor debuts tech-focused contractors all risks cover with HSB in UK')Agile's Syndicate 2427, launched under Lloyd’s ‘syndicate-in-a-box’ framework, marked its first year with global growth, expanded product lines, and increased broker engagement. Focused on SME and mid-market segments, it has entered property and marine markets while leveraging technology and regional expertise to drive sustainable growth. (Josh Recamara, 22/7/2025, Insurance Business, 'Agile's Syndicate 2427 marks first year of underwriting')Atradius has received Lloyd’s approval to launch Syndicate 1864, set to begin underwriting on January 1, 2026. Focused on trade credit insurance, the syndicate aims to provide brokers with expanded capacity and flexibility, leveraging Atradius’ global expertise and partnerships with Polo Managing Agency and Aon Capital Advisory. (Paul Lucas, 21/7/2025, Insurance Business, 'Atradius gains Lloyd's nod for Syndicate 1864')Aviva’s GCS division revamped its freight liability insurance, adding higher cover limits, expanded carriage conditions, a low-cost option, and E&O cover via digital platforms. The update supports brokers with streamlined processes and a growing marine underwriting team. (Kenneth Araullo, 21/7/2025, Insurance Business, 'Aviva expands digital marine insurance with freight liability revamp')Flood Re reported a record 346,200 policies ceded in 2024/25, a 20% increase year-on-year, bringing its total to over 660,000 since inception. Rising climate risks have driven higher reinsurance costs, with net retention tripling to £347 million for 2025–2028. The scheme also launched its first catastrophe bond and increased its reinsurance liability limit to £3.2 billion. (Kenneth Araullo, 21/7/2025, Insurance Business, 'Flood Re reports record policy growth amid rising climate-related reinsurance costs')A Capgemini report highlights insurers' growing adoption of agentic AI, with 20% piloting use cases and 12% implementing it at scale. The technology, projected to create $450 billion in value by 2028, enhances underwriting, claims, and customer service but faces trust and readiness challenges. Only 4% of insurers fully trust AI agents, emphasising human-AI collaboration over full automation. (Josh Recamara, 21/7/2025, Insurance Business, 'Insurers turning to agentic AI - report')According to a MarketsandMarkets report, the global cybersecurity insurance market is projected to double by 2030, reaching $32.19 billion. Growth is driven by rising cyber threats, regulatory pressures, and demand for risk transfer solutions. Insurers are enhancing products with risk assessment and incident response capabilities, while the Asia-Pacific region is expected to see the fastest growth due to digitisation and evolving regulations. (Josh Recamara, 21/7/2025, Insurance Business, 'Cybersecurity insurance market projected to double by 2030')Movers​Zurich UK has appointed Asha Kumar as its first Chief Technology Officer, pending regulatory approval. Starting in October, she will join the UK executive committee, highlighting the firm's focus on AI and technology. Kumar, 2023 CIO of the Year, previously held senior roles at HSBC, including Managing Director of the UK retail, wealth, and private banking chief information office. (Josh Recamara, 25/7/2025, Insurance Business, 'Insurance moves: Zurich UK, TMHCCI, Allianz Commercial, TMK, Coalition and DWF')Tokio Marine HCC International (TMHCCI) has appointed Gavin Bridges as Chief Claims Officer. Bridges, with over 30 years of insurance experience, previously led European market and legacy claims at QBE and spent 15 years at Equity Insurance Group, specialising in claims strategy, client engagement, and portfolio optimisation. (Josh Recamara, 25/7/2025, Insurance Business, 'Insurance moves: Zurich UK, TMHCCI, Allianz Commercial, TMK, Coalition and DWF')Allianz Commercial has appointed Doan Nguyen-Huu as Global Head of Portfolio Solutions (effective August 1) and Daniel Head as Head of Delegated Authority and Portfolio Solutions for UK global and international markets (effective September 1). Nguyen-Huu, with Allianz since 2013, succeeds Claudia Valencia Lascar, while Head joins from RSA, where he was Head of Partnerships and managed delegated authority business for a decade. (Josh Recamara, 25/7/2025, Insurance Business, 'Insurance moves: Zurich UK, TMHCCI, Allianz Commercial, TMK, Coalition and DWF')Tokio Marine Kiln (TMK) has hired Lucy Fraser as a Cyber Risk Analyst, furthering its investment in cyber capabilities. Fraser joins from the Association of British Insurers (ABI), where she advised on cyber policy and led government engagement, and previously worked on cyber and economic crime at the City of London Corporation. (Josh Recamara, 25/7/2025, Insurance Business, 'Insurance moves: Zurich UK, TMHCCI, Allianz Commercial, TMK, Coalition and DWF')Active insurance provider Coalition has appointed James Holder as Senior Business Development Manager for the South West and South Wales, and Sam Mullett as Production Underwriter for the Midlands. Holder, previously a Specialty Cyber Underwriter at Munich Re, and Mullett, formerly a Cyber Underwriter at Aviva, join as the company expands its UK presence. (Josh Recamara, 25/7/2025, Insurance Business, 'Insurance moves: Zurich UK, TMHCCI, Allianz Commercial, TMK, Coalition and DWF')MS Amlin has appointed Christiern Dart as CEO, effective January 2026, subject to regulatory approval. Dart, previously group CUO at Brit, brings over 30 years of re/insurance experience. He succeeds Andrew Carrier, who will step down after three years as CEO but remain within the Mitsui Sumitomo Insurance group. (Jonalyn Cueto, 24/7/2025, Insurance Business, 'MS Amlin names Dart as CEO')DUAL Europe has appointed Frank Masteling, a 25-year trade credit expert with experience at Nexus Trade Credit, Atradius, and Rabobank, to lead its new trade credit insurance arm. (Kenneth Araullo, 23/7/2025, Insurance Business, 'Frank Masteling appointed to lead new trade credit arm at DUAL Europe')QBE has appointed Anna Connolly as European Property Product Manager, effective October 1, 2025. Currently London Market – Property Portfolio Manager, Connolly will oversee QBE’s European property portfolio strategy, focusing on major risk segments and lead capabilities. (Josh Recamara, 22/7/2025, Insurance Business, 'Insurance moves: QBE and Allianz Commercial')Hyeji Kang will become CFO of Allianz Commercial and Allianz Global Corporate & Specialty SE (AGCS) on October 1, 2025, succeeding Oskar Buchauer. Kang, currently Allianz Re CFO, has held key roles since joining Allianz in 2015, including Chief Actuary for the Americas and Global Head of Reinsurance. Buchauer, with Allianz since 1998, has been instrumental in strategic planning and financial management during his tenure as AGCS CFO since 2023. (Josh Recamara, 22/7/2025, Insurance Business, 'Insurance moves: QBE and Allianz Commercial')Willis, part of WTW, has launched a dedicated residential real estate team to focus on key segments like build-to-rent, student accommodation, and retirement living. Co-led by Naomi Palmer, with over 12 years of experience managing large-scale residential insurance programs, and Shaun Grainger, bringing two decades of sales expertise in real estate, the team aims to enhance tailored insurance solutions and claims handling for residential property clients. The team also includes Mike Marrill as Claims Executive, who will focus on managing residential property-related claims to strengthen claims handling capacity and ensure continuity of service for clients. (Kenneth Araullo, 21/7/2025, Insurance Business, 'Willis forms dedicated team for residential real estate insurance and claims')Tokio Marine GX (TMGX) has announced key leadership appointments to strengthen its renewable energy division: Olly Litterick has been named Head of Renewables, overseeing onshore wind, offshore wind, solar, and battery storage, following his role as Head of London Market Underwriting at GCube; Rosa van Reyk has been appointed Head of North America (West Coast), bringing 15 years of experience in insurance and sustainable power markets, previously serving as a senior underwriter at GCube in California; and Michael Galea has been named Head of North America (East Coast), leveraging over a decade of renewables sector experience, having worked as a senior underwriter at GCube in both London and New York. (Josh Recamara, 21/7/2025, Insurance Business, 'Tokio Marine GX boosts division following acquisition')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.
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IDEX Consulting unveils employer value proposition: Making the unbelievable achievable

IDEX Consulting, leading talent and business growth consultancy, has launched its new Employer Value Proposition (EVP), "empowering high-quality individuals to deliver exceptional results for themselves and everyone we work with." This strategic initiative highlights IDEX's core objective, which is to help people within the business achieve their personal goals, fostering individual success and driving business growth, setting it apart from competitors in the talent and business consultancy market. The business’ core purpose is to make individuals successful first, by empowering people to define their personal aspirations and then build their work objectives and lifestyles around those goals. In many cases this has helped people achieve ambitions they considered impossible previously. In a market often focused on transactional placements, IDEX Consulting distinguishes itself by prioritising a holistic approach to career and personal development. Unlike traditional recruitment firms, IDEX operates as a true talent and business growth consultancy, deeply invested in the long-term aspirations of its people. "Life at IDEX isn’t all about hitting targets," the company states, "it’s about providing people with a platform to forge their own career and business line."The new EVP comprises six strategic pillars that underscore IDEX’s distinctive culture:Developing the next generation of leaders: IDEX is committed to nurturing future leaders, offering clear promotion pathways and training to facilitate career advancement.An ecosystem that will inspire: The company provides a supportive environment with cutting-edge technology and expertise from dedicated finance, technology, operations, and marketing teams.A culture of recognition and reward: IDEX values and celebrates the achievements of all team members with various incentives, trips and events, fostering a positive and motivating culture. Work-life balance: Wellbeing is a priority, where flexible working arrangements that enable individuals to achieve their personal goals, whether career, financial, or lifestyle-related, is non-negotiable. Empowered to be you: At the core of IDEX is authenticity and truth. People are actively encouraged to be themselves and to regularly share their thoughts, ideas and feedback. Be part of something great: People are invited to contribute to a rapidly growing business with ambitious plans, offering significant opportunities for those seeking to excel.IDEX’s employer value proposition is brought to life through a series of videos featuring team members sharing their personal stories about what IDEX means to them, their experiences, and their excitement for the future."At IDEX Consulting, we believe in making the unbelievable achievable, not just for our clients, but importantly, for every single person in our business. We have built a platform for success which is underpinned by our finance, technology, data and marketing teams with cutting edge tools and resources, enabling our consultants to do more for themselves and their clients than they’ve ever dreamt possible,” says Matt Green, CEO of IDEX. This commitment to individual empowerment is a core differentiator. While many consultancies focus solely on client outcomes, IDEX extends this ethos internally, providing a platform where personal ambitions and growth goals are actively championed from day one. As IDEX Consulting continues its exponential growth, the new EVP serves as a clear articulation of the organisation’s values, what makes it an employer of choice and a market leader.For information on what a career at IDEX might look like, contact our Head of Internal Recruitment, Michelle Paish. 
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IDEX Consulting appoints new Head of Internal Recruitment

IDEX Consulting is delighted to announce the appointment of Michelle Paish as Head of Internal Recruitment for the Group. This strategic move underscores IDEX's commitment to deliver its ambitious growth plans as the business expands its global footprint. In this pivotal role, Michelle will be partnering closely with the executive team to attract and hire exceptional talent into the business, to ensure we continue to deliver an unparalleled service to our clients. "The quality of our people is the most important ingredient for our success. With Michelle leading our internal recruitment strategy to hire top quality professionals, I’m confident this investment will enable us to not only achieve our ambitious headcount growth, but importantly ensure we stay true to our core values of delivering exceptional solutions”, says Matt Green, CEO of IDEX.The role will focus on three key areas: attracting high quality entrepreneurial individuals, streamlining the onboarding process, and helping new team members thrive in their first year.Michelle joined IDEX during its infancy, over 18 years ago, working as a recruitment consultant in the General Insurance market, and has since been an integral part of its growth journey. Bringing a wealth of experience and understanding of the professional services landscape, Michelle is well placed to identify top talent and support the career progression of IDEX’s team members. “I’m incredibly excited about this role. The next stage of our business growth will be extremely important and ensuring we find the right people to join that journey is going to be key. We have a fantastic platform for success, with market leading technology and resources, all supported by an entrepreneurial and supportive culture. I’m looking forward to building out our team and engaging with individuals who can help develop our solutions across our defined specialisms”, commented Michelle.This appointment marks an exciting chapter for IDEX Consulting, reinforcing our dedication to building exceptional teams that deliver outstanding results for our clients.About IDEX Consulting  IDEX Consulting is an independent and innovative global talent, business and M&A growth consultancy. The business helps clients achieve their growth goals through the acquisition of top tier talent, M&A buy and sell side strategies, and marketing advisory across the UK, Europe, Middle East and US.  
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General Insurance newsletter Friday 18th July 2025

​​Insurance News"Our members have achieved double digit growth" - the number one network for brokers - Brokerbility, led by Managing Director John Dunn, positions itself as a boutique network for independent brokers, offering a collaborative community, strategic partnerships, and innovative tools like a bespoke Broker Insights platform. The network supports members with training, peer mentoring, and growth strategies, helping most achieve double-digit growth annually. (IDEX Consulting news, "Our members have achieved double digit growth" - the number one network for brokers')Nuclear energy: threat or opportunity for insurers? - Nuclear fusion energy, nearing commercial viability, presents insurers with a transformative opportunity. With its inherent safety and minimal environmental risks, fusion demands a shift from outdated fission-era exclusions to tailored coverage. Insurers are urged to embrace affirmative policies, enabling this clean energy revolution while unlocking a vast new market. (IDEX Consulting news, 'Nuclear energy: threat or opportunity for insurers?')A smarter way to hire to keep employees for longer - In today’s competitive talent market, mastering the interview process is essential for employers to secure top talent. Structured frameworks, diverse panels, and AI-powered tools can significantly enhance hiring outcomes. By adopting evidence-based techniques and addressing biases, businesses can reduce costly hiring mistakes and build stronger, more effective teams. (IDEX Consulting news, 'A smarter way to hire to keep employees for longer')How IDEX can boost your business growth - IDEX Consulting played a pivotal role in helping Hillier Buchan, a family-owned independent broker, transition smoothly to new ownership while preserving its client-focused ethos. By connecting the firm with the right buyer, IDEX enabled operational scaling, growth opportunities, and a seamless retirement plan for the owner, ensuring long-term success for the business and its clients. (IDEX Consulting news, 'How IDEX can boost your business growth')Aviva has doubled its offshore renewable energy underwriting capacity to £150 million, aiming to strengthen its position in the global renewables market by supporting larger, complex offshore wind projects and enhancing risk management through specialised teams and leadership. (Josh Recamara, 18/7/2025, Insurance Business, 'Aviva doubles offshore renewable energy capacity to £150 million')Gallagher has launched the Evolve Power facility, a portfolio tracker providing automatic follow-line capacity for conventional power sector risks, leveraging Lloyd’s syndicates and smart follow technology to streamline access to additional capacity and enhance placement efficiency. (Josh Recamara, 18/7/2025, Insurance Business, 'Gallagher expands Evolve strategy with new power portfolio tracker')Clear Group achieved 11% organic growth in Q1 2025, driven by acquisitions, platform integration, and investments in talent and technology, while expanding its footprint across the UK, Ireland, and Europe, supported by its partnership with Goldman Sachs. (Josh Recamara, 18/7/2025, Insurance Business, 'Clear Group reports double-digit organic growth')Howden has been appointed by Gold Standard to assess insurance policies for carbon credits under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA), aiming to enhance market confidence, attract institutional capital, and support credible carbon credit issuance for aviation emissions compliance. (Josh Recamara, 18/7/2025, Insurance Business, 'Howden to assess insurance cover for carbon credits in aviation offset scheme')Travelers exceeded Q2 profit expectations with a 4% rise in net written premiums to $11.5 billion, driven by strong underwriting, reduced catastrophe losses, and a 6% increase in investment income, resulting in adjusted earnings of $6.51 per share, far surpassing analyst estimates.(Steven Byerley, 17/7/2025, Insurance Business, 'Travelers blows past Q2 profit expectations')ARAG SE is exiting the Australian market after six years due to unmet business expectations, while continuing to service existing policies, and acknowledges its role in introducing legal expense insurance in Australia. (Daniel Wood, 18/7/2025, Insurance Business, 'ARAG ceases operation in Australia')Marsh McLennan reported $7 billion in Q2 2025 revenue, a 12% year-over-year increase, driven by strong performance in risk and consulting segments, acquisitions, and double-digit growth in its broking arm. (Gia Snape, 17/7/2025, Insurance Business, 'Marsh McLennan secures $7 billion quarter')Pen Underwriting expanded its partnership with SiriusPoint, securing 100% capacity for its international professional indemnity portfolio, leveraging SiriusPoint's 15+ years of underwriting expertise and building on their existing strategic alliance across social housing, marine, and PI sectors. (Jonalyn Cueto, 17/7/2025, Insurance Business, 'Pen Underwriting expands partnership with SiriusPoint into professional indemnity')Towergate warns that underinsurance remains a significant issue for UK businesses, with 40% citing a lack of insurance knowledge as a key factor, and urges regular policy reviews, updated valuations, and education to address risks, especially as 80% of SMEs are underinsured. (Josh Recamara, 16/7/2025, Insurance Business, 'Underinsurance remains a problem for UK businesses - report')Aon announced plans to establish a UK-based captive management company, aligning with the government’s new regulatory framework to attract captive insurers. The initiative, led by Ciaran Healy, Aon’s global captives leader, aims to provide clients with an additional domicile option and leverage the UK’s insurance infrastructure. The move is expected to appeal to UK-based firms and potentially bring overseas captives back onshore. (Josh Recamara, 16/7/2025, Insurance Business, 'Aon plans UK captive management company')Britannia P&I Club has relocated its London office to 33 King William Street, creating a collaborative workspace with modern facilities to enhance operational efficiency, while reaffirming its commitment to London as a global marine insurance hub amidst ongoing strategic changes. (Josh Recamara, 16/7/2025, Insurance Business, 'Britannia P&I Club relocates London office')Aviva has launched a six-month trial of the AI-powered "Actuarial Agent" in collaboration with insurtech firm hyperexponential (hx) to enhance pricing accuracy, streamline workflows, and support underwriters, building on its success with hx Renew, which reduced pricing model development time from over an hour to under 10 minutes. (Kenneth Araullo, 15/7/2025, Insurance Business, 'Aviva launches AI trial as part of GCS digital underwriting strategy')The Financial Conduct Authority (FCA) has announced reforms to simplify capital raising for London-listed firms, including reducing the need for full prospectuses, introducing a public offer platform for smaller firms, and raising the share issuance threshold, potentially saving companies £40 million annually and boosting London's competitiveness as a financial hub. (Josh Recamara, 15/7/2025, Insurance Business, 'FCA confirms plans to change capital raising for London-listed firms')Liberty Specialty Markets has launched a new insurance product targeting financial institutions in the cryptocurrency sector, offering coverage for risks like professional liability, theft, and fraud, with limits up to €3 million, focusing on firms operating under the EU’s MiCA regulation to address growing demand in the digital asset market. (Josh Recamara, 15/7/2025, Insurance Business, 'Liberty Specialty Markets launches new insurance product')UK insurers paid a record £8 billion in protection claims in 2024, according to a report by the Association of British Insurers (ABI) and Group Risk Development (GRiD), with individual life, income protection, and critical illness policies accounting for £5.32 billion, driven by rising average payouts and high success rates, as 96.9% of claims were approved, highlighting the sector's critical role in financial stability during crises. (Matthew Sellers, 14/7/2025, Insurance Business, 'Insurers pay record £8 billion in protection claims')W Denis Group has launched a global insurance division focused on data centers and power assets, offering end-to-end coverage from construction to operations, including property damage, business interruption, cyber risks, and professional liability, supported by global capacity and risk management advisory services. (Kenneth Araullo, 14/7/2025, Insurance Business, 'W Denis launches global insurance division for data centres and power assets')The British Insurance Brokers’ Association (BIBA) has urged the UK Government to simplify the regulatory framework for insurance brokers, highlighting its impact on growth and new entrants. In a letter to the Chancellor, BIBA CEO Graeme Trudgill emphasised the sector's £100 billion contribution to the economy and called for reforms to reduce compliance barriers and support innovation. (Josh Recamara, 14/7/2025, Insurance Business, 'BIBA urges Chancellor to ease regulatory burden on insurance brokers')Marsh CEO John Doyle and Chubb CEO Evan Greenberg have criticised the growing influence of third-party litigation funders, describing the practice as a speculative industry driving up jury awards and insurance premiums. They called for legislative reforms to address tax parity, transparency, and financial disclosures, highlighting the economic burden of rising litigation costs. (Matthew Sellers, 14/7/2025, Insurance Business, 'Marsh, Chubb CEOs speak out about third-party litigation funders')Zurich, Allianz, Hollard, and others are competing to acquire NIB Holdings' travel insurance unit, valued at up to A$200 million, as the Australian travel insurance market consolidates amidst rising reinsurance costs and claims inflation, with Zurich seen as a frontrunner due to its existing 24% market share. (Matthew Sellers, 14/7/2025, Insurance Business, 'Allianz, Zurich, Hollard and others line up for major acquisition down under')Movers​Jensten Underwriting appointed Kathleen Durling as Director of Underwriting, leveraging her 15+ years of experience at Victor Insurance, MS Amlin, Chaucer, CGI, and Simply Business to expand specialised insurance offerings and develop broker-focused products in the UK market. (Jonalyn Cueto, 17/7/2025, Insurance Business, 'Jensten Underwriting names Durling as director of underwriting')RSA appointed Emily Coupland as General Counsel for UK and European operations, leveraging her 30+ years of experience, including her role as General Counsel at AXA, to oversee legal and compliance functions during RSA's rebranding to Intact Insurance and its strategic integration into Intact's global framework.(Josh Recamara, 17/7/2025, Insurance Business, 'RSA names general counsel for UK and European operations')AIG appointed former Lloyd’s CEO John Neal as President, effective Dec. 1, leveraging his extensive industry experience, including leadership roles at Lloyd’s and QBE, to oversee global general insurance operations and drive underwriting excellence. (Roxanne Libatique, 16/7/2025, Insurance Business, 'AIG snaps up former Lloyd's chief as new president')Arch Insurance International promoted Chris Fairs to Head of Agency Management at Arch Managing Agency Limited, where he will oversee Lloyd’s-related operations, including Syndicates 2012 and 1955, leveraging his extensive experience in Lloyd’s compliance from roles at Argenta Private Capital and Lloyd’s itself. (Kenneth Araullo, 16/7/2025, Insurance Business, 'Insurance moves: Arch, AXA XL, Clyde & Co, Consilium, Kennedys')AXA XL has appointed Shaun Wilkinson as Head of International Casualty, Retail, UK & Lloyd’s, tasking him with developing underwriting strategy and leading the casualty underwriting unit, leveraging his 20 years of experience across broking and underwriting roles, including positions at leading firms in the insurance industry. (Kenneth Araullo, 16/7/2025, Insurance Business, 'Insurance moves: Arch, AXA XL, Clyde & Co, Consilium, Kennedys')Clyde & Co has appointed Ian Roberts as Chair of its UK insurance practice, a newly created role to align the firm’s insurance strategy with evolving client needs. Roberts, who joined the firm in 2013 and previously led the Southeast Asia insurance practice, brings extensive expertise in financial lines, general liability, reinsurance disputes, and political and credit risk claims. (Kenneth Araullo, 16/7/2025, Insurance Business, 'Insurance moves: Arch, AXA XL, Clyde & Co, Consilium, Kennedys')Specialty broker Consilium launched its first UK casualty binder, appointing Luke Browne as Senior Underwriter to lead the initiative. Browne, who joins from Dual Group, brings over 10 years of expertise in liability and Contractors All Risks underwriting. The facility, backed by A-rated delegated authority capacity, targets low and medium-risk contractors with enhanced policy wordings and plans to expand coverage later in the year. (Kenneth Araullo, 16/7/2025, Insurance Business, 'Insurance moves: Arch, AXA XL, Clyde & Co, Consilium, Kennedys')Allianz Commercial appointed Elke Vagenende as Chief Client Officer and Tom Leonard as Global Head of Broker Management, effective August 1. Vagenende, with experience at BP and Siemens, will lead global client management, while Leonard, with Allianz since 2007, will oversee broker relationships. Martin Zschech remains Global Head of Industry Solutions, focusing on private equity. (Kenneth Araullo, 16/7/2025, Insurance Business, 'Allianz Commercial names Elke Vagenende chief client officer in leadership revamp')In further news...Allianz Commercial established the Nordics as a standalone region, appointing Margaretha Mo as Regional Managing Director, effective August 1. Mo, a Swedish national with 30 years of insurance experience, has led the Nordics as Country Managing Director since 2024. Meanwhile, Jonathan Poole will take over Benelux operations, joining from Chubb with over 30 years of expertise in European corporate insurance markets. (Kenneth Araullo, 16/7/2025, Insurance Business, 'Allianz Commercial names Elke Vagenende chief client officer in leadership revamp')Globe Underwriting has entered the UK professional indemnity (PI) market, appointing Paul Nolan, formerly Head of Financial Lines at Probitas Syndicate 1492, and Kiran Wignall, previously leading the PI line at Probitas, to spearhead its first PI proposition and expand its financial lines division amidst a £3.3 billion annual premium market. (Kenneth Araullo, 15/7/2025, Insurance Business, 'Globe Underwriting appoints financial lines leaders as it enters PI market')Willis, part of WTW, has appointed Adrian Cousins as Head of London Market Claims, where he will lead the firm's claims strategy and manage key relationships with insurers, reinsurers, adjusters, and legal firms, while continuing his role as Head of Claims for FINEX in Great Britain, Western Europe, and international markets. (Kenneth Araullo, 14/7/2025, Insurance Business, 'Insurance moves: Willis, Consilium, Barnett Waddingham')Consilium has appointed George Besant as Partner in its delegated risk solutions division, bringing 13 years of experience from roles at Superscript, Capsicum Re, Arthur J Gallagher, and Pen Underwriting, to support MGA portfolio development, capacity placement, and product strategies, including for Rokstone Underwriting. (Kenneth Araullo, 14/7/2025, Insurance Business, 'Insurance moves: Willis, Consilium, Barnett Waddingham')Barnett Waddingham (BW) has appointed Rob Byett as Chief Risk Officer following its acquisition by Howden. With over 20 years of experience in financial services risk and compliance, including roles at Jelf Group and Deloitte, Byett will lead governance and risk functions within BW and Howden's global employee benefits practice. His appointment follows the retirement of Zoe Smith, former Partner and Head of Governance at Barnett Waddingham. (Kenneth Araullo, 14/7/2025, Insurance Business, 'Insurance moves: Willis, Consilium, Barnett Waddingham')Flood Re has announced key executive appointments under CEO Perry Thomas to advance its mission of transitioning to risk-reflective flood insurance pricing by 2039. Latinka Pilipovic will join as Chief Financial Officer and board member on August 1, pending regulatory approval, succeeding interim CFO Dave Dunning. Dan Byrne, currently Chief Risk Officer, has been promoted to Chief Commercial Officer while retaining his CRO duties until an interim replacement is named. Max Bero, Director of Operations, has been promoted to Chief Operating Officer, also subject to regulatory approval. (Josh Recamara, 14/7/2025, Insurance Business, 'Insurance moves: Flood Re and Consilium')Consilium, the global specialty re/insurance arm of the Aventum Group, has appointed Peter Coleman to its senior leadership team to support its expansion strategy. Coleman, formerly Managing Director and Global Head of Placement at Guy Carpenter Facultative, brings extensive experience in specialty insurance, including senior roles at Agora Syndicate and Ironshore, and will focus on driving growth in emerging lines. (Josh Recamara, 14/7/2025, Insurance Business, 'Insurance moves: Flood Re and Consilium')​All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting