UK
SaaS provider Genasys secures £12m investment from Frog Capital
Insurance software-as-a-service provider Genasys has secured a £12.25m investment from Frog Capital, which will see it grow its operations around the world.
CII reinstates historic funding model for local institutes
The Chartered Insurance Institute is returning to its historic model for local institute funding for 2022 having reduced grants overall this year in a process it said previously had been designed to help manage resources during the pandemic.
Jensten reveals £36m cost for four deals in 2021 financial year
Jensten Group has posted a £13.57m post-tax loss for the year ended 31 March 2021 as turnover rose 24% to £21.44m.
Mike Crane replaces Steve Maddock as MIB chairman
The Motor Insurers Bureau has named the managing director of LV Broker and CEO of Legal & General general insurance Mike Crane as its next chairman, succeeding Direct Line Group’s chief operating officer Steve Maddock.
AIG takes Graham Fulcher from Chubb as international GI chief actuary
American International Group has recruited Graham Fulcher for the newly created role of international general insurance chief actuary.
Paul Cooper to return to Hiscox as group CFO
Hiscox has named Paul Cooper as group chief financial officer joining from asset manager and life insurer M&G where he is currently interim group CFO.
Vox Pop: Regulation 20 years on from the FSA coming to power – part two
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the second of a two-part vox-pop series, Post asks compliance experts for their thoughts on topics including the accountability of the Financial Conduct…
Ardonagh’s Phil Bayles on the question of selling to a seller
Phil Bayles, chief commercial officer at Ardonagh Advisory, reviews the lessons learned from his time at Aviva and advises brokers to do due diligence when selling their businesses to avoid ‘seller regret’.
Blog: Insurers must set the ESG bar high if we are to reach net zero
COP26 set some very clear priorities for governments, businesses and individuals to reduce their environmental impact, and work towards having a better carbon footprint, writes Chris Illman, Beazley head of responsible business.
Broker Insights targets UK growth and entering US market after £6m raise
Insurtech Broker Insights has raised more than £6m in a Series A funding round led by Mercia investing from its Northern Venture Capital Trust funds.
Vox Pop: Regulation 20 years on from the FSA coming to power – part one
The Financial Services Authority came into force on 1 December 2001. In this anniversary month, in the first of a two-part vox-pop series, Post asks compliance experts for their thoughts on how seismic a change the launch was and the current scope of…
Abbeyautoline owner Prestige creates broker Stroll as it invests £3m in digital
Prestige Insurance Holdings is investing over £3m and creating 60 jobs in Northern Ireland as it launches digitally-led broking brand Stroll next year.
SRG adds Joe Hanly as CFO
Specialist Risk Group has appointed Joe Hanly as group chief financial officer replacing Charlie Love who is leaving to pursue other opportunities having been with the business since October 2018.
Aon hires UK commercial risk chief broking officer from WTW
Aon has named Angela James chief broking officer for its UK commercial risk division, joining from Willis Towers Watson.
SRG launches MX Underwriting MGA with £100m target for 2022
Specialist Risk Group has unveiled managing general agent MX Underwriting bringing together GB Underwriting, CLS Risk Solutions and Blackrock Insurance Solutions with Lime Insurance.
Ardonagh valued at $7.5bn as Abu Dhabi Investment Authority joins investor roster
The Ardonagh Group has secured investment from the Abu Dhabi Investment Authority and “several other large global institutions”, giving the group a multi-billion dollar valuation.
Interview: Andrew Wallin, Ardonagh Specialty
Ardonagh buying the insurance operations of BGC Partners was a “rocket fuel moment” for both organisations with opportunities abounding after the deal which doubled the size of the specialty business, according to Ardonagh Specialty CEO Andrew Wallin.
GRP holdco sets baseline for Searchlight era with inaugural £42m operating profit
Global Risk Partners’ holding company GRP (Jersey) Holdco has posted turnover of £128.8m in its first set of annual results.
Former and current Fresh owners settle legal case
Kingfisher UK Holdings, NSM Insurance and the sellers of Fresh Insurance have settled the legal dispute over the sale of the business.
Catherine Read appointed COO for UK and Ireland at Marsh
Marsh has named Catherine Read as chief operating officer for UK and Ireland taking up the post on 4 January.
Blog: Pay-as-you-buy insurance – a customer choice-based concept
Telematics has created an acceptance of data sharing that paves the way for insurers and their customers to access the benefits from open banking data, argues Sara Costantini, managing director of Crif Decision Solutions.
Marsh McLennan appoints Francis Bouchard as managing director of climate
Francis Bouchard has joined the Marsh McLennan Advantage team as managing director of climate.
Bought By Many doubles GWP and reveals now live in 28 US states
Bought By Many owner Many Group wrote £146m of gross written premium in 2020/21 with turnover up 113% at £37.13m, the business has revealed.
Trade Voice: ABI's Ben Howarth on looking at climate change's impact on customers
Ben Howarth, the Association of British Insurers' climate change and open data policy manager, argues that insurers' approach to climate change ought to focus on the impact on customers.