United Kingdom Archives - InsuranceAsia News https://insuranceasianews.com/country/united-kingdom/ Sun, 29 Sep 2024 23:50:52 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Fidelis eyes ‘BRICS+’ push with new property specialist MGA https://insuranceasianews.com/fidelis-pine-walk-launches-new-mga-seraphina-with-kelly-sanders-at-the-helm/ Sun, 29 Sep 2024 22:40:46 +0000 https://insuranceasianews.com/?p=163744 The group's MGA platform Pine Walk has hired Kelly Sanders as CUO to found Seraphina, which will focus on international property business with a focus on the emerging markets.

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The Fidelis Partnership-owned specialist MGA platform Pine Walk Capital has launched an international property underwriting business, called Seraphina, to support the parent's BRICS+ strategy to broad...

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]]> Australian, UK regulators greenlight Ardonagh’s takeover bid for PSC https://insuranceasianews.com/australian-uk-regulators-greenlight-ardonaghs-takeover-bid-for-psc/ Thu, 19 Sep 2024 05:01:57 +0000 https://insuranceasianews.com/?p=163024 The US$1.5bn scheme of arrangement to buy all the shares of the Australian broking group is now pending PSC's shareholders' and the court's approvals.

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UK broking group Ardonagh’s AU$2.3 billion (US$1.5 billion) acquisition of Australian broking group PSC has won the approvals from all relevant regulators in both countries, including a “no objection”...

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]]> Lloyd’s logs best interim results since 2007 as H1 underwriting profit up 24% https://insuranceasianews.com/lloyds-logs-best-interim-results-since-2007-as-1h-underwriting-profit-up-24/ Thu, 05 Sep 2024 10:07:56 +0000 https://insuranceasianews.com/?p=162122 The market’s COR improved to 83.7% from 85.2% a year ago, as its underwriting profit rose to US$4.07bn, thanks to premium growth and better investment returns.

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Lloyd’s has posted an underwriting profit of GBP3.1 billion (US$4.07 billion) for the first six months of 2024, up 24% from GBP2.5 billion a year ago, driven by a combination of premium growth, lower ...

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]]> PSC Insurance FY2024 revenue up 15.5% on UK business growth https://insuranceasianews.com/psc-insurance-fy2024-revenues-grows-15-5-driven-by-uk-business-growth/ Fri, 23 Aug 2024 05:25:32 +0000 https://insuranceasianews.com/?p=161139 The ASX-listed broking group said it expects to complete its US$1.5bn sale to The Ardonagh Group by October 11.

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PSC Insurance Group reported a 15.5% year-on-year revenue growth for the full year ended June 2024 (FY2024), and a 14.7% EBITDA growth, driven by strong growth in its UK business.
The Australian broke...

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]]> AUB doubles down on UK retail expansion with Movo acquisition https://insuranceasianews.com/aub-doubles-down-on-uk-expansion-with-movo-acquistion/ Mon, 19 Aug 2024 11:06:02 +0000 https://insuranceasianews.com/?p=160797 The London-based broker is the second acquisition by the company in the UK after it picked up a 40% stake in AR network Momentum in June this year.

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Australian broker AUB Group has agreed to acquire an 80% equity stake in the UK-based broker Movo Group of Companies (Movo), according to an announcement by the company.
The London-based Movo Group in...

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]]> Criterion secures capacity from Bridgehaven Specialty to target waste management and recycling https://insuranceasianews.com/criterion-underwriting-secures-a-rated-capacity-from-bridgehaven-to-target-waste-management-and-recycling/ Tue, 23 Jul 2024 22:30:24 +0000 https://insuranceasianews.com/?p=158770 The "A" rated capacity enables the MGA to offer "significant line sizes" to the underserved demand for sustainable recycling covers across UK, Australia and New Zealand.

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Australian specialist waste management, recycling and mining managing general agent (MGA) Criterion Underwriting has secured “A” rated capacity from a UK insurer Bridgehaven Specialty UK, according to...

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]]> China Re-owned Chaucer hires Hayley Spink as group chief operating officer https://insuranceasianews.com/china-re-owned-chaucer-hires-hayley-spink-as-group-chief-operating-officer/ Tue, 25 Jun 2024 03:49:43 +0000 https://insuranceasianews.com/?p=156722 London-based Spink, who joins from Apollo Syndicate 1969, has in the past worked in Shanghai helping set up Lloyd’s China.

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Specialty (re)insurer Chaucer, owned by China Reinsurance, has hired Hayley Spink as group chief operating officer, subject to regulatory approval, according to a press release. Spink will take over t...

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]]> London’s digitalisation dream threatens to turn into nightmare https://insuranceasianews.com/londons-digitalisation-dream-threatens-to-turn-into-nightmare/ Sun, 23 Jun 2024 23:30:04 +0000 https://insuranceasianews.com/?p=156527 With Lloyd's delaying the implementation of Blueprint Two yet again, there is a growing feeling that the heralded change to the way the market works will come to nothing.

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The London market’s ambitious plans to digitalise and further open up its capability to look to risks in Asia has hit another hurdle as a key deadline for the implementation of the first phase of its ...

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]]> Aon promotes Tracy-Lee Kus as head of its global broking centre https://insuranceasianews.com/aon-promotes-tracy-lee-kus-as-head-of-its-global-broking-centre/ Fri, 21 Jun 2024 03:52:40 +0000 https://insuranceasianews.com/?p=156496 Kus, who was most recently head of commercial risk for Asia Pacific and head of North Asia at the broker, will relocate to London for the new role.

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Aon's head of commercial risk for Asia Pacific Tracy-Lee Kus has been appointed as head of Aon’s global broking centre (GBC), effective September 1.
Singapore-based Kus (pictured), who was appointed h...

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]]> Brokers keen to see underwriters back in the market https://insuranceasianews.com/brokers-keen-to-see-underwriters-back-in-the-market/ Thu, 13 Jun 2024 23:30:46 +0000 https://insuranceasianews.com/?p=155958 The post-pandemic hybrid environment and the development of AI means that queries and placements are significantly lacking in any human interaction for increasingly commoditised risks.

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Are underwriters becoming an endangered species? 
On the face of it no, but brokers are increasingly feeling it is the case amid concerns it is now becoming difficult to see one, let alone get to talk...

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