hard market
Big interview: Michael Rea, Gallagher UK
Having taken on the Gallagher UK CEO role at the start of the year, Micheal Rea talks to Jonathan Swift about breaking the £1bn revenue barrier, the benefits of scale, putting M&A on hold and why the market is in transition in terms of rates.
MGAA’s Keating says insurers must hold their nerve on rates
Trade Voice: History tells us that a sensible, hard market is often followed by a more unruly soft market. Mike Keating, CEO of the Managing General Agents’ Association, urges insurers to not sacrifice technical underwriting on the altar of new business.
Contractual requirements boost cyber insurance adoption
A cyber expert at Marsh has warned contractual obligations driving businesses to purchase cyber insurance could be a double-edged sword.
Brokers want less AI conversation and better service please
Fiona Nicolson reveals brokers want a little less conversation about artificial intelligence and to have a lot more grown-up conversation about balancing online experiences with being able to talk to an insurer's staff at this year’s British Insurance…
Rokstone’s D&O head says there is less ‘moronic’ underwriting
Directors’ and officers’ insurance rates are set to flatten in the next 12 months, according to Jimmy Heaton, head of D&O for UK & Europe at Rokstone, who added there is now less moronic underwriting going on in the market than there was at the end of…
Aviva’s Lloyd’s entry opens up ‘billions of pounds of business’
Aviva’s UK and Ireland general insurance CEO Jason Storah tells Insurance Post “there are billions of pounds of business that doesn’t get presented to Aviva” because it goes through Lloyd’s.
Insurtech Review of the Year 2023
2023 will be remembered as the year the insurtech funding bubble burst but looking ahead to 2024 players in this part of the market expect providers to realise it is easier to buy systems than build them.
Managing underinsurance risks and valuations
Analysis: As inflation continues to be an issue across all lines of insurance, Sam Barrett explores how brokers can use AI to manage underinsurance risk and valuations.
Top 75 MGAs: PIB Group
PIB Group’s main MGA-MGU activities dealing in UK-based non-life risks in 2022 were Citynet Underwriting Services, Let Alliance, Q Underwriting, Thistle Insurance Services and UKInsuranceNET, according to Insuramore.
Insurers’ profitability to remain lower than cost of capital
Data analysis: General insurers are adjusting rapidly to the new higher interest rate era ushered in by the most intense monetary policy tightening since the 1980s but profitability is unlikely to soar back to pre-pandemic levels imminently.
How insurers help make summer blockbuster movies magic
Emma Ann Hughes examines how film production insurance has adapted to reflect the new risks associated with producing big summer blockbusters across several countries post-pandemic.
Swiss Re predicts motor insurance’s return to profitability
As general insurers have been absorbers – rather than multipliers – of market woes in 2023, Swiss Re is predicting premium and profitability growth for the industry over the next couple of years.
In conversation: Biba’s White and Trudgill on broker leasehold commissions
After Levelling Up Secretary Michael Gove said he was “outraged” at the findings of an FCA report into broker remuneration surrounding leaseholders in multi-occupancy buildings, British Insurance Brokers' Association chief executive Steve White and…
How to build a successful MGA
Analysis: Emma Ann Hughes explores what it takes in the current economic climate to stand out from the crowd and secure funding for a managing general agent.
View from the top: WTW’s Edward Castles on why the hard market may almost be over
Edward Castles, managing director at WTW, examines the forces driving a return to soft market conditions and increasing rate reductions.
BIA 2022 Award Winners Video: Broker Partner of the Year Arch Insurance’s Mike Bottle
Following its success in being crowned Broker Partner of the Year at the British Insurance Awards content director Jonathan Swift caught up with Arch Insurance senior vice president strategy and distribution Mike Bottle at the end of 2022.
Review of the Year 2022: Brokers
Senior insurance broker figures look back on 2022 and reflect on what 2023 might bring.
Review of the Year 2022: MGAs
Senior figures from insurance MGAs look back on 2022 and reflect on what 2023 might bring.
Review of the Year 2022: Insurers
Senior figures from the insurance market look back on 2022 and reflect on what 2023 might bring.
How equine insurers are still going the distance to manage horse-racing risks
David Worsfold explores how equine insurers rose to the challenge of managing horse-racing risks in the midst of the Covid-19 pandemic, and are now handling today's hardening market
Bruce Carnegie-Brown: Brokers need to adapt to the digitalisation of the marketplace and spend time adding value
Brokers who are “embracing technology change will be hugely advantaged” in a changing industry which needs to adapt to make the market more efficient by “spending more of time on the value-added piece of the advice activities”.