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Esure chief executive David McMillan explained the swing from a £7.7m post-tax profit in 2021 to a £29.1m loss in 2022 as being caused by significant claims inflation, increased weather-related home claims, and a weak pricing environment. from Insurer - insuranceage.co.uk https://ift.tt/d5ES9Wf

The government launched its review of the Senior Managers and Certification Regime, part of a wide-ranging shake-up to make UK financial services more competitive post-Brexit. from Insurer - insuranceage.co.uk https://ift.tt/fhnWBqb

Insurance Age unpacks the impact of inflation, changing customer needs and rising demand along with the shifting insurer appetite in tradesman insurance. from Insurer - insuranceage.co.uk https://ift.tt/e1zGtvQ

The average cost of car insurance soared by a record 21.1% in the year to February, taking annual bills to £929, according to Consumer Intelligence. from Insurer - insuranceage.co.uk https://ift.tt/s4LMdRu

RSA has confirmed pulling out of the UK personal lines motor market, worth £120m in gross written premium, and signing up with Atlanta-owned Swinton on a renewals deal. from Insurer - insuranceage.co.uk https://ift.tt/3QizuWA

Aqueous Underwriting plans to push on SME business having secured new capacity in an initial three-year deal with Allianz Insurance. from Insurer - insuranceage.co.uk https://ift.tt/XtR6hJL

RSA has reported a pre-tax profit of £65m for 2022 swinging back from a loss in 2021. from Insurer - insuranceage.co.uk https://ift.tt/3ijMN2I

Zurich UK has opened new offices in Bristol and Leeds, as well as adding underwriting expertise in Southampton, expanding its regional network to 10, Insurance Age can reveal. from Insurer - insuranceage.co.uk https://ift.tt/J2owI0v

David Martin will start working at Aviva as managing director of UKGI distribution & SME on 3 April, Insurance Age can reveal. from Insurer - insuranceage.co.uk https://ift.tt/qkQG2dT

Premium Credit has a non-recourse solution that remains available for interested partners, says personal lines and e-trade director Mark Coffey. from Insurer - insuranceage.co.uk https://ift.tt/E4KgPtB

Policy Expert’s COO Adam Powell has stressed that customer retention is its top priority in 2023, but added product diversification is also potentially on the cards. from Insurer - insuranceage.co.uk https://ift.tt/qFT1deV

To coincide with today’s third anniversary of the UK’s first pandemic lockdown, Insurance Age polled providers to find out how they have sought to re-engage face-to-face with brokers. from Insurer - insuranceage.co.uk https://ift.tt/4yVeMF2

Three years on from the UK’s first pandemic lockdown, brokers welcomed the uptick in insurer engagement, but urged providers to do more below C-suite level. from Insurer - insuranceage.co.uk https://ift.tt/w1mMT5f

Hagerty, a car insurance provider, has launched its private client service, which can be sold through brokers who have customers with a vehicle, or vehicles, worth £250,000 or more. from Insurer - insuranceage.co.uk https://ift.tt/xg3UPzQ

The UK was hit by $900m (£732.6m) of economic losses from natural catastrophes such as storms and flooding in 2022, with insurance covering $800m of the total, according to Swiss Re. from Insurer - insuranceage.co.uk https://ift.tt/LcSCaT7

Last summer’s record-breaking heatwave has led to an increase in subsidence claim payouts, according to figures from the Association of British Insurers. from Insurer - insuranceage.co.uk https://ift.tt/wZPAxvg

Hiscox UK has launched its underwriting academy following a successful pilot in the fourth quarter of 2022. from Insurer - insuranceage.co.uk https://ift.tt/5jBLEJu

With rebuild costs 10.4% higher than a year ago, an average property insurance policy set to cover £1m could now be short for the full rebuild value, Chaucer has warned. from Insurer - insuranceage.co.uk https://ift.tt/wkDiIaV

This month’s products highlights include Allianz refreshing its fleet policies, plans for a broker-facing new motor insurer, and cover for care organisations and private equity firms. from Insurer - insuranceage.co.uk https://ift.tt/wn6CaHB

Ecclesiastical Insurance has sold SEIB Insurance Brokers to associated business Lloyd & Whyte for £45.2m, the insurer has confirmed. from Insurer - insuranceage.co.uk https://ift.tt/uSe6Fyn

Ecclesiastical Insurance grew gross written premiums in the UK and Ireland by 16% in 2022 to £344.8m, the provider has revealed. from Insurer - insuranceage.co.uk https://ift.tt/QluzRgo

Stay in the loop with the most recent insurance personnel moves. from Insurer - insuranceage.co.uk https://ift.tt/8WbdUH3

Intangic MGA has launched with backing from Axa XL, offering parametric cyber insurance for large public corporations headquartered in the UK. from Insurer - insuranceage.co.uk https://ift.tt/9m71suK

Following the launch of Zurich’s Global Climate Change Resilience Services, Zurich UK is making the full range of services available to domestic customers and it will also be available through brokers. from Insurer - insuranceage.co.uk https://ift.tt/0jfsFxw

Sabre Insurance has reported a 66.5% drop in profit after tax to £10.1m for 2022, as the combined operating ratio deteriorated to 96% from 79.4% in 2021. from Insurer - insuranceage.co.uk https://ift.tt/35u2dzA

Allianz Group has unveiled Allianz Commercial featuring an integrated approach for Allianz Global Corporate & Specialty and mid-sized country-based accounts. from Insurer - insuranceage.co.uk https://ift.tt/Geu8vOR

Follow the latest insurance personnel moves. from Insurer - insuranceage.co.uk https://ift.tt/vZUJT9m

Aviva’s UK combined operating ratio worsened to 96.1% in 2022, from 94.6% the year before, with operating profit down 3% to £309m. from Insurer - insuranceage.co.uk https://ift.tt/I5nmMyl

Treasurer of Open GI User Group, Mark Sollis, has told Insurance Age that the potential sale of the software house by its majority shareholder is not a cause for concern. from Insurer - insuranceage.co.uk https://ift.tt/RUEe5DX

Group CEO of Hiscox, Aki Hussain, has forecast further UK commercial growth and a return to expansion in personal lines at the insurer in 2023. from Insurer - insuranceage.co.uk https://ift.tt/Z8M3IsV

Hiscox has reported $778m (£657.8m) of gross written premium in the UK for 2022, as the wider group delivered its best underwriting performance since 2015. from Insurer - insuranceage.co.uk https://ift.tt/oxsA0iM

To mark International Women’s Day, Insurance Age met with Zurich’s Michelle Taylor to gather her insights on gender diversity in the market. from Insurer - insuranceage.co.uk https://ift.tt/31VM24B

Talks between Saga and Australian insurtech Open Insurance Technologies to sell underwriting business Acromas Insurance have ended without a deal, the over-50s specialist has confirmed. from Insurer - insuranceage.co.uk https://ift.tt/i5DKZTo

Keep up to date with the latest personnel moves within insurance. from Insurer - insuranceage.co.uk https://ift.tt/HKlPYDo

The British Insurance Brokers’ Association and the Association of British Insurers have released a code for capturing risk information, one of the first steps in solving the crisis in affordable premiums for residents in tower blocks, Insurance Age can reveal. from Insurer - insuranceage.co.uk https://ift.tt/JHAIpNF

The number of policies traded on imarket, which connects broker software platforms to insurer systems for the placement of commercial lines, hit a record 497,883 in 2022, Polaris has revealed. from Insurer - insuranceage.co.uk https://ift.tt/qtKSDNd

The Managing General Agents’ Association’s CEO Mike Keating has revealed that the trade body is close to surpassing 200 full members in the next couple of months. from Insurer - insuranceage.co.uk https://ift.tt/ygWRzjb

Beazley has reported gross written premiums of $5.27bn (£4.4bn) for 2022, up by 14% on the year before. from Insurer - insuranceage.co.uk https://ift.tt/26UqN3v

City of London minister Andrew Griffith is concerned Consumer Duty could unleash spurious lawsuits from claims management companies, according to a report in the Financial Times. from Insurer - insuranceage.co.uk https://ift.tt/exVilZp

CNA Hardy has launched a new package product solution for multinational businesses called Atlas. from Insurer - insuranceage.co.uk https://ift.tt/Hr3pnEv