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Financial Services newsletter Friday 31st October 2025

Financial Services NewsSt James’s Place FUM surpassed £200bn for the first time, reaching £212.39bn (+12% YTD), with Q3 net inflows of £1.8bn (vs £890m in Q3 2024) and YTD retention at 95.2% (up from 94.6%); CEO Mark FitzPatrick cited strong demand and pre-implementation activity ahead of the new charging structure, as the firm moves to scrap most exit charges. (Financial Planning Today, 23/10/2025, 'SJP FUM climbs 12% to top £200bn for first time')Aberdeen’s advice arm saw £0.5bn net outflows in Q3 to 30 Sept, a 50% YoY improvement (Q3 2024: £1bn), with YTD adviser outflows at £1.4bn (vs £3bn last year). Adviser AUMA stood at £79bn (+£3bn QoQ). Interactive Investor delivered £1.9bn net inflows (Q3 2024: £1.2bn), while the investment arm had £1.8bn net outflows, 49% better YoY (Q3 2024: £3.5bn). Group AUMA/A rose 6% YTD to £542.4bn, and CEO Jason Windsor said adviser flows are on track to turn positive in 2026. (Financial Planning Today, 23/10/2025, 'Outflows continue for Aberdeen Adviser')Quilter’s core net inflows rose 28% YoY to £2.2bn in Q3, lifting group AUMA/A 7% to £134.8bn, aided by £6.4bn of market tailwinds; YTD core net inflows reached £6.7bn, driven by strong platform demand, with platform net inflows over £2bn in the quarter (vs £1.4bn in Q3 2024), gross and net platform inflows up 19% and 15% YoY, IFA channel gross flows up 35% to £1.3bn, and the high net worth segment delivering £758m gross and £239m net inflows. (Financial Planning Today, 22/10/2025, 'Platform drives 48% rise in net inflows for Quilter')The FCA has updated its cyber disruption guidance for regulated firms, adding clearer expectations for response, recovery, and third‑party outages after recent AWS and 2024 CrowdStrike incidents. It also reminded firms that operational resilience rules have applied since 31 March. (Financial Planning Today, 22/10/2025, 'FCA urges firms to boost resilience after cyber attacks')State Pension is set to rise by 4.8% in April under the Triple Lock, which uses September data, outpacing September CPI at 3.8%. ONS held CPI at 3.8% (vs 4% forecast), with food and soft drink inflation easing to 4.5% from 5.1%. Barring intervention from Chancellor Rachel Reeves, the 4.8% uplift will proceed. (Financial Planning Today, 22/10/2025, 'State Pension set to rise 4.8% as CPI remains high')DB transfer values are down 6% since the start of 2025, with a modest uptick in September; the quarterly average is ~3% below end-June per XPS’s Transfer Value Index. Values have been relatively stable, with month-end figures within a £5,000 band over six months. Transfer activity ticked up in September to an annualised 18 per 1,000 members, though volatility has increased in recent months. (Financial Planning Today, 20/10/2025, Insurance Business, 'Pension transfer values fall 6% in 2025')Former Aviva CEO David Barral, 63, died after his Aston Martin DBX crashed into a tree on the A58 near Wetherby. Police are investigating and seeking witnesses. His family expressed devastation. Barral, a prominent financial services figure, spent over 15 years at Aviva (1999–2015) in senior roles including CEO, COO, marketing and distribution director. (Financial Planning Today, 16/10/2025, 'Former Aviva CEO David Barral dies in car crash')Brooks Macdonald posted £49m net outflows in the quarter to 30 Sept (vs £3m prior quarter; £111m YoY). BPS outflows were £157m (11% YoY improvement), while platform MPS net inflows hit £175m (12% annualised). FUMA rose 3% to £19.7bn (FUM £17.3bn); advised-only assets slipped to £2.42bn. (Financial Planning Today, 15/10/2025, 'Net outflows rise in latest quarter at Brooks Macdonald')L&G will launch an AI-powered customer service platform for workplace savings, retail protection, and annuities, built on Microsoft Dynamics 365 Contact Centre. It will analyse conversations for next-best actions, tools, and sentiment to flag vulnerabilities, aiming to speed responses and personalise support for advisers and customers, with more product lines coming under a multi-year plan. (Financial Planning Today, 15/10/2025, 'L&G to add AI-powered customer service platform')Fairstone increased revenue/pro forma income 21% to £168m and assets to £20bn (FY2024), sets goal to reach £40bn by 2030; now serving 125k+ clients across 56+ locations with 12 regional hubs in the UK and Ireland. (Financial Planning Today, 14/10/2025, 'Fairstone revenue leaps 21% as client assets hit £20bn')AJ Bell Investcentre launched an integration with Dynamic Planner to enable bulk client valuations from AJ Bell into Dynamic Planner, including compatibility with its mobile app, Tram, to save admin time. AJ Bell says this streamlines manual tasks “at the touch of a button,” enhancing its advised proposition. (Financial Planning Today, 14/10/2025, 'AJ Bell Investcentre links up with Dynamic Planner')Nearly 1 in 3 IFAs (30%) are planning or exploring a sale, per an AFH Wealth Management survey of 80 advisers. Drivers include higher costs, regulatory burden, and value realisation. Two-thirds (66%) expect regulation to spur more sales within five years; 40% cite rising costs as a consolidation driver; 81% view consolidation as positive/necessary; only 16% think selling harms clients. Survey conducted by Goodman Lantern. (Financial Planning Today, 13/10/2025, 'A third of advisers want to sell up – survey')Quilter Financial Planning added eight new AR firms since April: Jupiter Wealth (Northwood, London; principal Geetika Sethi), Redleaf FP (Kent/West Sussex; principals James Hughes, Julian Durand, Jeremy Howard, Perry O’Shea), Roseum FP (Renfrew; principal Michaela Pashley), Singer WM (Keynsham; founder Cassie Singer), Ascent FP (St Asaph; directors Gaynor Lyth, Gwilym Lloyd Jones, John Ridings), Richmond WM (Hebburn; principal Neil Richmond), Mapledurham FP (Reading/Mapledurham; principal John Barry Laverick), Caldwell Financial (Belfast/London; founder Neal Caldwell CFA). (Financial Planning Today, 10/10/2025, 'Quilter Financial Planning network adds 8 new ARs')The cost of unpreparedness in Financial Services - For Wealth and Asset Management firms in 2025, an estimated 10-20% of sale value is being eroded on deals due to a lack of preparation before sale. Considering selling your firm? Our M&A team can help you boost EBITDA growth and strategically position your firm for sale. Learn more about our unique approach. (IDEX Consulting news, 'The cost of unpreparedness in Financial Services')The wealth tax uncertainty: impact for wealth managers and their clients - A potential UK wealth tax is sparking widespread discussion to help stabilise the nation's 2.7$ trillion debt. The debate signals urgent proactive planning for wealth managers and clients. (IDEX Consulting news, 'The wealth tax uncertainty: impact for wealth managers and their clients')Looking for a new financial services career opportunity?- Our recruiters are supporting leading firms across wealth management, pensions, actuarial and employee benefits. Check out our latest vacancies. (IDEX Consulting news, 'Looking for a new financial services career opportunity?')Keen to understand what your financial services firm might be worth?- Use the free IDEX business calculator to get an accurate valuation that will provide invaluable insights. (IDEX Consulting news, 'Keen to understand what your financial services firm might be worth?')Mergers and AcquisitionsSchroders sold its 49.4% stake in Schroders Personal Wealth to Lloyds in exchange for Lloyds’ 19.1% stake in Cazenove Capital. SPW becomes wholly owned by Lloyds and will rebrand as Lloyds Wealth. The 2019 JV delivered ~£45m operating profit in H1 2025. A multi-year IM agreement keeps Schroders managing SPW and Scottish Widows assets, and Lloyds will continue referring HNW clients to Cazenove. The deal aims to expand both firms’ wealth propositions in complementary segments. (Financial Planning Today, 9/10/2025, 'Schroders sells share in wealth JV to Lloyds')Hoxton Wealth acquired Manchester-based Haven IFA (undisclosed), adding ~£140m AUM, expanding its North West presence from Liverpool along the M62; two of Haven’s four advisers will join (two retiring) with the admin team moving over to ensure client continuity, as the firm establishes a strategic Manchester base. (Financial Planning Today, 27/10/2025, 'Hoxton Wealth Acquires £140m AUM Manchester firm')AFH Wealth Management acquired St Albans firm Avidity Wealth Management (undisclosed), integrating the team immediately and rebranding as AFH Wealth Management St Albans; Avidity brings £750m+ FUM, ~1,800 clients, 11 advisers and 13 staff, strengthening AFH’s South-East presence. (Financial Planning Today, 23/10/2025, 'AFH adds £750m AUM with acquisition of Herts Planner')MKC Wealth, backed by private equity, acquired four IFAs - Money Flow, Goldcrest Financial Planning, Berg-Davies Associates, and Sherpa Financial Solutions - for undisclosed sums, with principals retiring post-transition. Sherpa (Norwood, founded 2016 by Shaun Stentiford), Berg-Davies (Stowmarket, founded by Roger Davies), Goldcrest (Surrey, founded 2018 by Charles Everingham), and Money Flow (Kingston upon Thames, founded by Roland Askew) will transition clients to MKC before founder retirements; Money Flow’s sale followed a recommendation from a prior seller. (Financial Planning Today, 16/10/2025, 'MKC Wealth acquires quartet of IFA firms')Titan Wealth will acquire Blacktower (c. £2.2bn AUM), pending regulatory approval, merging it into Titan Wealth International. The combined entity aims to scale globally, enhance discretionary and investment management, and expand client support by pairing Titan’s institutional capabilities with Blacktower’s 40 years of international advisory experience. Price undisclosed. (Financial Planning Today, 13/10/2025, 'Titan Wealth to buy £2.2bn AUM international adviser')The Finli Group acquired four adviser firms: Catterson Wealth Management, Groundwell, Oaklands Wealth Management, Peter Guy Financial Planning, adding ~£259m AUA. The Milton Keynes-based national firm now tops £5bn AUA and has completed 18 acquisitions year-to-date, strengthening its core regional footprint.(Financial Planning Today, 3/10/2025, 'Finli makes 4 adviser firm acquisitions')Sovereign Capital Partners acquired a majority stake in Equilibrium, with existing management retaining a significant minority and day-to-day control. Terms undisclosed. Equilibrium keeps its brand, HQ, and relationship-led model; no changes to client relationships, portfolios, fees, or jobs. Sovereign will use Equilibrium as a national buy-and-build platform to scale into new regions. Founder Colin Lawson remains involved. (Financial Planning Today, 1/10/2025, 'Former Shackleton owner buys majority stake in Equilibrium FP')MoversEvelyn Partners appointed ex-Edinburgh Rugby star Chris Dean to its Edinburgh team in a business development role while he trains as a financial planner, following the recent hire of ex-pro Alex Tait; Dean will drive opportunities across planning and investment, strengthen key relationships, raise the firm’s profile, and leverages his JP Morgan Athlete Transition Programme experience. (Financial Planning Today, 28/10/2025, 'Evelyn recruits rugby star to Financial Planning team')WH Ireland’s chair Simon Moore and NED Gary Stran resigned after shareholders rejected the £1m sale of its wealth arm to Oberon Investments at a General Meeting, calling it a vote of “no confidence.” The deal has collapsed, with both board resolutions failing. (Financial Planning Today, 9/10/2025, 'WH Ireland chair quits as wealth arm sale collapses')In further news...WH Ireland appoints Lumin Wealth co-MD John Cusins as Non-Exec Director to help shape plans after shareholders blocked the £1m sale of its wealth arm to Oberon; Cusins, a chartered accountant and Lumin co-founder now part of VZ Group, holds 1.63% of WH Ireland and will support consultations with principal shareholders. (Financial Planning Today, 27/10/2025, 'Troubled WH Ireland appoints Lumin MD as director')Evelyn Partners bolsters its London team with two senior hires: Sukaina Karim-Hussein as director, financial planning, formerly at Coutts with a focus on entrepreneurs and female founders, and Hector Millar as associate director, chartered financial planner, previously at London Wall Partners, specialising in City professionals and partners of Magic Circle law firms. (Financial Planning, 23/10/2025, 'Evelyn adds 2 senior Financial Planners')Amyr Rocha Lima, former CISI Financial Planning Forum chair and UK financial planner, will join the global Financial Planning Standards Board from 1 April. The FPSB, which sets standards for CFP professionals worldwide, also announced Amy Richardson (TCI Wealth Advisors) joining the board, Caroline Dabu beginning a two-year term as chair from April, and Eunice Chan becoming chairperson-elect in 2026. Lima, managing director at Strategic Wealth Partners, remains on the CISI board and co-founded SWP in 2023 with Benchmark Capital’s support. (Financial Planning Today, 22/10/2025, 'Amyr Rocha Lima joins FPSB board')Nucleus Financial Platforms promoted chief commercial officer Mike Regan to deputy CEO, a new role in which he’ll support CEO Richard Rowney while retaining current duties and helping shape strategy. Regan joined in 2022 as CFO, helped drive the Curtis Banks and Third Financial acquisitions, led commercial wins and proposition investment, and previously held senior finance roles at BGL Insurance, Coutts, and RBS, with earlier stints at PwC, HSBC, UBS, and WestLB. (Financial Planning Today, 21/10/2025, 'Nucleus promotes CCO to be deputy CEO')Suttons IFA hired Chartered Financial Planner Richard Higgs from Equilibrium FP. The Sale-based firm, which made its third acquisition (Whitewell FP, Bolton) earlier this year, has grown AUM to £300m. Higgs brings 18 years’ experience, is a CII Fellow, and previously spent ~10 years at Equilibrium and earlier roles at BNY Mellon. (Financial Planning Today, 7/10/2025, 'Manchester firm adds Chartered Financial Planner')Wealth Manager Blevins Franks appointed James Roberts (co-founder, Partners Wealth Management) as CEO, pending regulatory approval. The expat-focused firm (serving UK nationals in Europe) notes Roberts will be only its third leader in 50 years, underscoring continuity and client-centric culture, per chair John Stone. (Financial Planning Today, 6/10/2025, 'New CEO hired for expat specialist Blevins Franks')Not subscribed yet? Subscribe for the latest news, market trends, and weekly insights - all delivered straight to your inbox.All information provided in this market digest has been gathered from Financial Planning Today and IDEX Consulting.

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General Insurance newsletter Friday 31st October 2025

Insurance NewsThe cost of not preparing your brokerage for sale - Lack of proper preparation directly impacts a business' sale value. This year, over $1.5 billion in potential deal value for brokers and MGAs is expected to be lost or eroded due to last-minute due diligence failures and unaddressed pre-sale deficiencies. Considering selling your brokerage? Our M&A team can help you boost EBITDA growth and strategically position your firm for sale. Learn more about our unique approach. (IDEX Consulting news, 'The cost of not preparing your brokerage for sale')Does your compensation reflect your true value? - Access the IDEX Salary Calculator to access the latest salary data for your role. Our free tool provides precise industry benchmarks for your role, equipping you with accurate data to confidently negotiate a pay increase or evaluate your current earning potential. (IDEX Consulting news, 'Does your compensation reflect your true value?')InsurTech market insights - The InsurTech market is poised for continued growth, creating a huge opportunity for traditional insurers to overhaul their product distribution strategies. Read IDEX's analysis on which product lines are growing and how businesses across insurance can capitalise on them. (IDEX Consulting news, 'InsurTech market insights')Which AI solutions work for you? - Platforms like InsurGPT, Eigen Technologies, and Guidewire are totally reshaping the insurance industry. Are you maximising your team’s efficiency? Find out which cutting-edge AI insurance tech you should be implementing to boost productivity and stay competitive. (IDEX Consulting news, 'Which AI solutions work for you?')Arthur J. Gallagher & Co. posted a 20% Q3 revenue jump to $3.33B—its 19th straight quarter of double-digit growth—driven by 4.8% organic gains and acquisitions (including the $13.8B AssuredPartners deal), with adjusted EPS at $2.32 and a declared $0.65 dividend. (Rod Bolivar, 31/10/2025, Insurance Business, 'Gallagher sees 20% Q3 revenue jump')AXIS Q3 2025: combined ratio improved to 89.4% (insurance 85.9%, reinsurance 92.2%), net income $294M, insurance GPW up 11% and reinsurance up 6%, driven by stronger underwriting and portfolio enhancements; leadership updates include a new US Healthcare Re head and CFO transition in 2026. (Rod Bolivar, 30/10/2025, Insurance Business, 'AXIS sees combined ratio drop below 90%')Markel Group Q3: insurance combined ratio improved to 93% with 11% GWP growth, driving a 55% surge in adjusted operating income to $428M; year-to-date insurance combined ratio at 95% with 11% AOI growth to nearly $1B, supported by higher investment income and strong cash flow. (Josh Recamara, 30/10/2025, Insurance Business, 'Markel Group's insurance segment posts strong Q3 underwriting gains')Tokio Marine GX and Northcourt launched NC Fusion, the first Lloyd’s facility tailored to nuclear fusion risks, creating scalable coverage frameworks that address fusion’s distinct risk profile versus fission to support projects from R&D through commercial deployment as the sector accelerates. (Jonalyn Cueto, 30/10/2025, Insurance Business, 'Tokio Marine and Northcourt launch fusion insurance facility')Fortegra Insurance UK has been added to the National Association of Insurance Commissioners (NAIC) Quarterly Listing of Alien Insurers, enabling UK MGAs and brokers to access US surplus lines business more easily, bolstered by its PRA/FCA authorisation and growing London market presence. (Kenneth Araullo, 29/10/2025, Insurance Business, 'Fortegra Insurance UK added to NAIC alien insurers list')Mission, the global managing general agent (MGA) incubator, will support the Q4 2025 launch of Lumara Insurance, a UK commercial combined MGA led by former Covéa leaders David Aslin and Mark Greig, offering single-policy, modular cover for business insurance and motor trade combined to help brokers streamline placements amid a surge of new, innovation-focused MGA entrants in the UK market. (Kenneth Araullo, 29/10/2025, Insurance Business, 'Mission confirms support for latest UK MGA entrant')Zurich Insurance Group launched the Zurich AI Lab, a multi-location research initiative with ETH Zurich and the University of St. Gallen to develop scalable AI solutions for insurance and publish industry research, led by CEO Mario Greco with executive sponsors Ericson Chan and Carlos Rey de Vicente. (Kenneth Araullo, 29/10/2025, Insurance Business, 'Zurich expands AI ambitions with new research lab')UK professional indemnity underwriters face margin pressure as falling rates outpace stable claims severity; Markel’s Mark Plews urges underwriting discipline, regional market engagement, and clearer PI–cyber wordings amid inflation, regulatory scrutiny, fraud risks, and emerging AI exposures. (Bryony Garlick, 28/10/2025, Insurance Business, 'Specialist PI under pressure as rate declines outpace claims')Descartes Underwriting joined the International Cooperative and Mutual Insurance Federation (ICMIF) as a supporting member to collaborate with mutuals on parametric solutions that close the climate protection gap, leveraging AI- and physics-based models amid rising catastrophe losses and low insurance penetration. (Kenneth Araullo, 28/10/2025, Insurance Business, 'Descartes Underwriting joins ICMIF to tackle climate risk')Everest Group’s Q3 net income fell to US$255m from US$509m as the combined ratio rose to 103.4%, driven by US casualty reserve strengthening; reinsurance posted an 87.0% combined ratio versus 138.1% in insurance, with GWP down 1.2% to US$4.4bn and an ADC of up to US$1.2bn placed with Longtail Re to cover prior-year liabilities. (Kenneth Araullo, 29/10/2025, Insurance Business, 'Everest Group's profits halved as combined ratio rises in Q3')Arch Capital reported Q3 net income of US$1.3bn, with insurance segment growth (NPW +7.3%, GWP +9.7%) and lower cat losses driving record operating income; reinsurance NPW fell 10.7% but earned premiums rose 6.5%, book value per share reached US$62.32 (+5.3% QoQ), and the company repurchased ~US$732m of shares. (Kenneth Araullo, 28/10/2025, Insurance Business, 'Arch Capital Q3 net income hits $1.3bn, driven by insurance gains')Brown & Brown posted record Q3 revenue of $1.6bn (+35%), driven by acquisitions and 3.5% organic growth; margins narrowed with income before tax down 1.9% and margin at 19.4%, while adjusted EBITDAC rose 42% to $587m. The quarter included the $9.83bn Accession Risk Management (RSC Topco) acquisition and 5,000+ new hires as the broker expands globally. (Kenneth Araullo, 28/10/2025, Insurance Business, 'Brown & Brown sees record revenue, narrower margins in Q3')Everest will sell renewal rights for its Global Retail Commercial Insurance book (~$2bn GWP across US/UK/EU/APAC) to AIG and refocus on Global Reinsurance and Wholesale & Specialty; it also secured a $1.2bn adverse development cover with Longtail Re on NA Insurance reserves (AY 2024 and prior), with Jason Keen named CEO of Global Wholesale & Specialty Insurance to drive E&S growth, pending regulatory approvals. (Josh Recamara, 28/10/2025, Insurance Business, 'Everest refocuses with AIG renewal rights sale and $1.2 billion reserve protection deal')UK insurers are accelerating digital transformation, with 89% investing in digital initiatives according to the Association of British Insurers (ABI); AI, automation, personalisation, and on-demand models are reshaping pricing, distribution, and CX, while rising cyber risk, FCA focus on responsible AI, and legacy integration remain key challenges amid stronger UK cyber demand. (Josh Recamara, 28/10/2025, Insurance Business, 'UK insurers rapidly embracing tech innovations')Howden reports a record 37 insurers participating in 2025/26 solicitors’ PII, signalling a softer market with heightened competition, wider excess layer capacity, and general rate declines—though premiums may still rise for fast-growing firms; 18‑month terms persist, cyber uptake is increasing, and underwriters are now probing AI use, while higher‑risk conveyancing-heavy practices remain less favoured. (Kenneth Araullo, 27/10/2025, Insurance Business, 'Law firms see softer market, more insurers in 2025 PII renewal: Howden')Mergers and AcquisitionsAIG and Onex will take 35% and 63% stakes in Convex (valuing common equity at $7B), with AIG also entering a whole-account quota share from Jan 2026; AIG will additionally buy 9.9% of Onex and commit $2B to its funds, with both deals expected to close H1 2026. (Steven Byerley, 30/10/2025, Insurance Business, 'AIG, Onex forge strategic partnership with major investments in Convex Group')Starr Insurance will acquire IQUW Group (syndicates IQUW and ERS plus IQUW Re Bermuda), making Starr’s managing agency the ninth-largest at Lloyd’s; the deal broadens reach in Bermuda, UK retail motor and London wholesale, with IQUW CEO Peter Bilsby set to lead Starr’s international business; closing expected H1 2026, subject to approvals. (Josh Recamara, 30/10/2025, Insurance Business, 'Starr Insurance agrees to acquire IQUW Group')MovesFollowing recent UK acquisitions and rebrands, Acrisure bolstered its UK retail leadership with David Cramp as Chief Revenue Officer, Rob White as Chief Risk and Compliance Officer and Rowanne Dicker as Head of UK Retail Markets and Placement, while MPS appointed Dr. Pallavi Bradshaw as medical director following Dr. Rob Hendry’s move to chief member officer, with Bradshaw starting in early 2026. (Rod Bolivar, 31/10/2025, Insurance Business, 'Following acquisitions, Acrisure and MPS announce new appointments')Allianz UK appointed Vicky Yuill as distribution director for Allianz Personal Broker from December 2025, bringing over 20 years’ experience including head of insurance at Sainsbury’s Bank and leadership roles at Ageas and Kwik Fit Insurance Services; this follows Glyn Hughes’ appointment as managing director from February 2026, signaling a stronger push into personal lines broker distribution. (Josh Recamara, 30/10/2025, Insurance Business, 'Insurance moves: Allianz and AutoRek')Amiga Specialty named Martin Mills—Millstream founder who built it into a leading travel and PA MGA before its 2015 sale to Nexus—as non-executive chair to bolster governance and fuel growth in travel and PA, per founder/MD Adam Kembrooke. (Josh Recamara, 29/10/2025, Insurance Business, 'Insurance moves: Amiga, FM, Ignite Specialty')Ignite Specialty Risk made four hires to fuel UK/EU/US growth: Tim Woodgett (ex-Liberty Mutual, MS Amlin, Hiscox) as chief of staff to drive strategy, plus UK underwriting additions Ben Lim (portfolio manager, ex-Marsh), Angus Eames (technical underwriter, ex-ClientEarth/DLA Piper), and Matt Evans (promoted to technical underwriter); CEO Byron Sumner said the moves deepen expertise and enhance service quality as the firm scales globally. (Josh Recamara, 29/10/2025, Insurance Business, 'Insurance moves: Amiga, FM, Ignite Specialty')IGI appointed London market veteran Malcolm Barnes as head of specialty treaty to expand its reinsurance presence from its 20 Fenchurch Street office; ex-Amlin Syndicate 2001 marine treaty lead, Barnes brings 35+ years across Lloyd’s, with CUO Chris Jarvis highlighting growth ambitions in marine, energy, and PV/terrorism specialty treaty lines. (Josh Recamara, 28/10/2025, Insurance Business, 'IGI appoints Malcolm Barnes to lead specialty treaty reinsurance in London')Not subscribed yet? Subscribe for the latest news, market trends, and weekly insights - all delivered straight to your inbox.All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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General Insurance newsletter Friday 24th October 2025

Insurance NewsThe Risk and Compliance professionals employment market - Candidates no longer tolerate poor interview experiences, making slick processes essential to attract quality professionals. Jack Johnson, our Risk & Compliance recruiter shares what professionals are looking for in this market and how to attract the very best. (IDEX Consulting news, 'The Risk and Compliance professionals employment market')AI insurance tools - which ones could help you? - Key tools include InsurGPT, Eigen Technologies, and Guidewire. Which ones are you aware of and which ones could help your job? Access our detailed overview to find out. (IDEX Consulting news, 'AI insurance tools - which ones could help you?')MGA outlook: what opportunities are there 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 competitive landscape. (IDEX Consulting news, 'MGA outlook: what opportunities are there for insurers?')IDEX Salary Calculator: Is it time for a pay rise? - Use the data from our free salary calculator to arm yourself with accurate market benchmarks that you can use to influence your employer. (IDEX Consulting news, 'IDEX Salary Calculator: Is it time for a pay rise?')The FCA reports UK financial complaints rose to 1.85 million in H1 2025, up 4% from H2 2024, with firms paying £283 million in redress (up 20%). Banking and credit card complaints grew 7% and pensions rose 6%, while insurance complaints were broadly flat. Around 57% of complaints were upheld, and the average payout increased from £207 to £238. (Kenneth Araullo, 24/10/2025, Insurance Business, 'UK financial complaints rise in first half – FCA')Aon has launched an AI-powered supply chain risk consulting solution that analyses data from 80,000+ sources across 200+ countries to predict disruptions, map supplier dependencies and bottlenecks, and deliver real-time, prioritised recommendations—aimed at surfacing hidden vulnerabilities and boosting resilience for global organisations. (Jonalyn Cueto, 23/10/2025, Insurance Business, 'Aon unveils AI tool to spot supply chain weaknesses')London Commercial Court ruled that in RSA v. Equitas: defense costs do not erode the £4m indemnity excess in the excess-of-loss reinsurance, Equitas must follow RSA’s TTSA settlement because the claims co-operation clause didn’t restrict settlements, RSA acted properly and businesslike in reaching the 47% allocation, and compound interest is payable from the date of loss. (Matthew Sellers, 23/10/2025, Insurance Business, 'RSA wins some, loses some in major reinsurance case against Equitas')Chubb’s Q3 2025 delivered net income of $2.80B and core operating income of $3.00B, driven by lower catastrophe losses and strong investment gains, with book value up 4.7% and tangible book up 6.6%. P&C net premiums written rose 5.3% to $12.93B (North America +4.4%, Overseas General +9.7%), while P&C underwriting income hit a record $2.26B with an 81.8% combined ratio; ROE was 15.9% and core ROTE 24.5%. (Kenneth Araullo, 22/10/2025, Insurance Business, 'Chubb’s Q3 earnings surge as book value, premiums climb')Casper Specialty UK launched Tundra Specialty, a dedicated renewable energy insurer set to begin writing by end-2025 under its own brand and strategy; led by veteran underwriter Matthew Melville with Roger Mclean as head of distribution, the unit targets booming solar and wind demand amid funding constraints, positioning to provide specialist capacity as resilience and risk management become central to project financing. (Kenneth Araullo, 22/10/2025, Insurance Business, 'Casper launches Tundra Specialty for renewable energy insurance')Gracechurch’s UK Insurers Monitor shows broker-rated service improving broadly, lifting market-average NPS to +19 (up seven points since end-2024 and 39 since mid-2022), while claims still lag with a market-average NPS of -3 despite recent gains; investments in tech and process may turn claims into a differentiator ahead of the 2026 Service Quality Marque announcements. (Kenneth Araullo, 22/10/2025, Insurance Business, 'UK insurers have improved their services, Gracechurch research finds')MX, the underwriting arm of Specialist Risk Group, struck a multi-year delegated distribution deal with Aviva to support Trilogy Underwriting, targeting over £100m in GWP and bolstering MX’s London Market capacity to fuel UK growth and improve access for brokers handling complex P&C risks, aligning with Aviva’s distribution strategy and broader SRG partnership. (Josh Recamara, 22/10/2025, Insurance Business, 'MX enters multi-year distribution deal with Aviva to expand growth')Pikl founder and Insurtech UK Chair Louise Birritteri says the next wave of UK insurtech is driven by cross-industry talent, collaboration with incumbents over “disruption,” closing the gender funding gap (with policy-level fixes), and simplifying pilots/onboarding, as regulation, macro pressure, and AI reshape innovation and talent pipelines. (Bryony Garlick, 21/10/2025, Insurance Business, 'Diversity and disruption: inside the next wave of UK insurtech')Folgate launched Contractors Combined, a bespoke construction policy for brokers offering up to nine cover sections (EL, PL, CAR, PA, property, PI, D&O, legal expenses) with non-declaration cover, extended PL options, risk management features, and A-rated capacity—aimed at simplifying complex placements amid rising service expectations and theft-driven loss prevention needs. (Kenneth Araullo, 21/10/2025, Insurance Business, 'Folgate unveils contractors combined policy to streamline construction insurance')HMRC data shows UK insurance premium tax receipts reached £4.54bn in H1 2025/26, up £39m year over year and continuing a five-year 40% rise. Industry voices argue for abolishing IPT on health insurance to improve affordability, ease pressure on the NHS, and support mutuals and productivity, even if it reduces tax take. (Kenneth Araullo, 21/10/2025, Insurance Business, 'UK insurance premium tax receipts setting new pace in first half')Ardonagh has struck a major partnership with Asda to deliver insurance products through the supermarket’s channels, expanding distribution and customer reach. The tie-up aims to leverage Asda’s scale with Ardonagh’s insurance expertise to grow sales and improve access to everyday insurance for UK consumers. (Matthew Sellers, 21/10/2025, Insurance Business, 'Ardonagh in huge tie-up with Asda')According to office infrastructure firm Co-space, UK businesses in shared or flexible workspaces face rising cyber exposure, with 43% reporting breaches in the past year; high-risk sectors include information/communications, professional services, and finance, prompting calls for enterprise-grade coworking security, stronger controls (2FA, patching, training), and alignment with cyber insurance requirements—especially as Windows 10 support ends. (Josh Recamara, 21/10/2025, Insurance Business, 'Shared workspaces drive new cyber risks for UK businesses - report')MovesAllianz has overhauled its UK leadership to accelerate growth: CFO Ulf Lange becomes Managing Director of personal lines from Dec 1, with Michael Ruf (from Allianz SE) stepping in as CFO; Serge Raffard moves to a global role leading expansion in India; Suzanne Scott (ex-AXA) joins as Chief People and Culture Officer; and David Kelly will join in early 2026 as Chief Audit Officer. Separately, Allianz Commercial is introducing a new board structure from Jan 1, 2026, with Jeremy Sharpe named Chief Distribution Officer and Christian Sandric appointed President, Commercial, Asia Pacific, with UK and EMEA presidents to follow, subject to regulatory approval.(Josh Recamara, 24/10/2025, Insurance Business, 'Allianz strengthens UK leadership')The Insurance Industry Charitable Foundation (IICF) CEO Bill Ross, stepping down after 21 years, led the foundation’s expansion across the US, UK, and recently Canada; under his tenure IICF granted over $53M to nonprofits and mobilized 370,000+ volunteer hours from 130,000 industry professionals, with 250+ insurers engaged—now prompting a formal CEO search while Board Chair Wendy Houser oversees operations and a special committee reviews future strategy. (Josh Recamara, 23/10/2025, Insurance Business, 'IICF CEO Bill Ross to step down')Angelica Solutions has added Matt and Katherine Goldsmith to its associate network, bringing 35+ years’ combined pricing and underwriting experience across motor, home, travel, and commercial vehicle lines. Katherine specialises in claims modelling, commercial pricing, data strategy, MI reporting, and technical underwriting, while Matt brings Radar/Python rating engine build, test automation and CI/CD, and cloud expertise, supporting pricing transformation across international teams. Founded in 2019 by Sarah Vaughan, Angelica Solutions provides practical expertise to insurers and MGAs.(Josh Recamara, 21/10/2025, Insurance Business, 'Insurance moves: Angelica Solutions and Amiga Specialty')Amiga Specialty has appointed Jamie Ricketts as Managing Director, financial institutions, a new London-based role reporting to group MD Adam Kembrooke. Ricketts will build and lead the FI product line, set strategy, and work with brokers and clients to drive growth and returns. Formerly at AXIS and Nexus Underwriting, he brings strong broker relationships and a track record of profitable portfolio building. The hire supports Amiga’s 2025-launched expansion across financial lines and transactional risks in the UK and Hong Kong. (Josh Recamara, 21/10/2025, Insurance Business, 'Insurance moves: Angelica Solutions and Amiga Specialty')Open GI has appointed insurtech veteran Stuart Walters as a Non-Executive Director, reuniting him with Chair Peter Thompson from their BGL days. Walters, ex-CIO at BGL and Parcel2go and part-time CTO at Trinity Cups, brings deep tech and digital strategy expertise to bolster Open GI’s partnerships, innovation agenda, and ongoing transformation initiatives. (Kenneth Araullo, 20/10/2025, Insurance Business, 'Open GI bolsters board with insurtech expert Stuart Walters')AXA will reshuffle leadership from Dec 1: Guillaume Borie (previously CEO, AXA France) becomes Global Head of Finance, Strategy, Underwriting, Risk and Technology; Mathieu Godart (CEO, AXA France P&C and partnerships) steps up to CEO, AXA France; Matthieu Caillat (COO, AXA XL) becomes Group Chief Technology and AI Officer and CEO, AXA Group Operations; and Karima Silvent (group CHRO) becomes Deputy General Secretary—aligning underwriting, risk and AI across the group. (Josh Recamara, 20/10/2025, Insurance Business, 'AXA reshuffles leadership team')Not subscribed yet? Subscribe for the latest news, market trends, and weekly insights - all delivered straight to your inbox.All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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General Insurance newsletter Friday 17th October 2025

Insurance NewsHow will a bespoke regulation impact MGAs? - With 68% of brokers demanding bespoke MGA regulation and the market hitting $109 billion in premiums, change is coming. IDEX examines how new frameworks will reshape operations, partnerships, and compliance, and what MGAs must do now to prepare for transformation. (IDEX Consulting news, ''How will a bespoke regulation impact MGAs?')Unlocking AI's potential in insurance: Insights from experts - Getting started with AI doesn't have to be overwhelming. IDEX reveals the proven strategies successful insurers are using, from conducting business reviews to bringing teams along the journey. Discover the practical first steps that separate AI leaders from laggards. (IDEX Consulting news, 'Unlocking AI's potential in insurance: Insights from experts')How insurers and brokers are winning with predictive analytics - As competition intensifies, predictive analytics separates winners from followers in insurance. Our article reveals how brokers and insurers are transitioning from technology experiments to scalable solutions that address complex workflows, compliance demands, and customer expectations. Discover the strategies driving success. (IDEX Consulting news, 'How insurers and brokers are winning with predictive analytics')Why climate transparency matters more than ever for US insurers - 97% of insurers disclose climate strategies, yet only 29% provide measurable targets, a dangerous accountability gap as billion-dollar disasters multiply. IDEX examines why transparency without metrics leaves customers vulnerable and how leading insurers are bridging the widening protection gap before it's too late. (IDEX Consulting news, 'Why climate transparency matters more than ever for US insurers')The Insurance Development Forum announced the first close of its Infrastructure Resilience Development Fund at $340 million, managed by Global Infrastructure Partners (BlackRock), to finance resilient infrastructure across emerging markets—spanning water, waste, energy, transport, health, and digital—using blended senior/mezzanine debt with IFC participation and fundraising continuing into 2026. (Jonalyn Cueto, 17/10/2025, Insurance Business, 'IDF launches $340 million resilience fund for emerging markets')Former Aviva UK & Ireland CEO David Barral, 63, died after his Aston Martin crashed and caught fire in West Yorkshire; police have launched an investigation and appealed for witnesses, while tributes highlight his 2011–2015 leadership at Aviva and broader roles across financial services. (Matthew Sellers, 16/10/2025, Insurance Business, 'Former Aviva CEO David Barral dies in West Yorkshire crash')Marsh McLennan posted Q3 2025 revenue of $6.4B (+11% GAAP, +4% underlying) with adjusted operating income and EPS up 13% and 11% respectively, as it prepares to rebrand to Marsh by 2027 and launches a tech-and-data BCS unit to drive AI-enabled client outcomes. (Kenneth Araullo, 16/10/2025, Insurance Business, 'Marsh McLennan reports Q3 revenue growth as major rebrand looms')NARDAC expanded underwriting to include Construction All Risks cover for BESS projects—protecting against natural perils and hot-testing risks—while extending reach to Europe and Australia, with up to US$50m lead and US$20m for smaller deals backed by eight A-rated Lloyd’s syndicates. (Jonalyn Cueto, 16/10/2025, Insurance Business, 'Broker expands insurance capacity for growing BESS markets')PwC UK launched InsurStart, an accelerator connecting emerging insurers, MGAs, and early-stage carriers with PwC experts for regulatory, business planning, capital access, tech, and recruitment support, with applications open now and pitch sessions starting Dec 11 for the first cohort. (Jonalyn Cueto, 16/10/2025, Insurance Business, 'PwC unveils programme to back emerging underwriters')AXA Partners and insurtech bolttech formed a long-term partnership to scale embedded insurance across the EU, UK, and Switzerland—combining AXA’s B2B2C assistance lines with bolttech’s tech and device protection to open new cross-sell channels across telecom, finance, utilities, travel, OEM, and retail sectors. (Jonalyn Cueto, 16/10/2025, Insurance Business, 'AXA announces new partnership')Aviva will automatically extend BI indemnity periods to a minimum of 24 months at no extra cost for eligible SME policies quoted/renewed via FastTrade—uplifting sums insured accordingly—to tackle underinsurance amid evidence that real recovery from major incidents often exceeds 12 months. (Kenneth Araullo, 15/10/2025, Insurance Business, 'Aviva extends BI cover for SMEs amid underinsurance concerns')The NCSC’s Annual Review reports a surge to 204 nationally significant UK cyberattacks (up from 89), with 18 highly significant incidents and 429 total—driven by APTs—prompting government outreach to FTSE350 leaders and industry calls for proactive, rehearsed incident readiness alongside prevention. (Kenneth Araullo, 15/10/2025, Insurance Business, 'Record spike in major UK cyberattacks puts businesses on alert – NCSC')Moody’s Ratings maintains a stable outlook for UK life and P&C insurers into 2025–26, citing resilient revenues supported by pensions (BPAs) and mandatory P&C demand, high rates bolstering investment income, robust capital, and rebuilding reserves—though P&C pricing has peaked, motor remains pressured, nat-cat and reinsurance costs are elevated, and further solvency gains are unlikely. (Kenneth Araullo, 15/10/2025, Insurance Business, 'UK insurance sector outlook stable as Moody’s sees resilient revenues')Aviva launched Aviva Risk Training Solutions (ARTS), a mobile-first digital platform built with SafetyCulture that gives commercial clients free, expert-led microlearning based on 250+ loss prevention standards, with 25 courses live and 50+ coming, covering risks like flood, cyber, Li-ion batteries, and sustainability; further rollouts are planned globally. (Jonalyn Cueto, 15/10/2025, Insurance Business, 'Aviva launches digital training platform')Marsh McLennan will rebrand to Marsh starting January 2026 and has created a Business and Client Services (BCS) unit to centralise tech, data, AI, analytics, and operations under CIOO Paul Beswick; businesses will transition to the Marsh brand by 2027, with Guy Carpenter becoming Marsh Re and the ticker changing to MRSH. (Kenneth Araullo, 14/10/2025, Insurance Business, 'Marsh McLennan to rebrand as Marsh, launches new BCS unit')Mergers and AcquisitionsSpecialist Risk Group acquired Health Partners Europe and SEMPRIS to expand its elite sports offering, adding specialist healthcare schemes, indemnity insurance for sports medics, and the Formis athlete management system, while retaining investment in tech and service to broaden high-performance sector access. (Jonalyn Cueto, 17/10/2025, Insurance Business, 'Specialist Risk Group secures latest deal')In further news...Specialist Risk Group acquired a Lockton Wholesale team led by Shelley Wright, integrating with Miles Smith to enhance SRG’s London Market wholesale proposition across property, casualty, and financial lines, aligning with its strategy to build a leading independent wholesale platform for UK brokers. (Jonalyn Cueto, 15/10/2025, Insurance Business, 'SRG announces acquisition of Lockton Wholesale team')MoversHowden appointed Susan Panuccio as Group CFO effective Jan 6, 2026; she will join the Howden Group board. Bringing 30+ years’ global finance experience, including 20+ at News Corp (eight years as CFO), Panuccio has led digital transformation and growth across markets. (Jonalyn Cueto, 15/10/2025, Insurance Business, 'Insurance moves: Howden, CILA, and Duck Creek')The Chartered Institute of Loss Adjusters (CILA) has appointed Hobbs as Qualifications Manager to drive its education and governance reforms. Formerly Head of Curriculum Strategy at the International Board for IT Governance Qualifications, he oversaw 30+ qualifications and 10,000 exams annually. His hire supports CILA’s push to broaden membership and modernise its qualifications framework. (Jonalyn Cueto, 15/10/2025, Insurance Business, 'Insurance moves: Howden, CILA, and Duck Creek')Zurich appointed Terry Powell as Group CTO and Cristina Ghetti as Group Head of Digital Employee Experience (effective Oct 20), reporting to Ericson Chan. Powell previously led IT transformation and cloud at ANZ, drove AI/digital and global IT centralisation at Domino’s, and ran insurance tech at Suncorp. Ghetti led large-scale AI rollout at Nestlé and delivered a digital roadmap and post-merger IT integration at Coca-Cola European Partners. Powell will drive tech strategy and AI-led resilience; Ghetti will lead AI upskilling and productivity. (Kenneth Araullo, 14/10/2025, Insurance Business, 'Insurance moves: Allianz UK, Zurich Insurance, HDI Global')Allianz UK appointed Mansoor Reehana as Head of Artificial Intelligence, a new role overseeing AI strategy, architecture, and product delivery across the central data team. He will align AI with business goals, scale enterprise ML platforms, drive cross-functional collaboration, and ensure ethical deployment. Reehana joined Allianz in May 2023 as Data Science Manager, leading AI/ML portfolios, platform design/migration, and generative AI implementation. Previously, he worked at EY’s AI Center of Excellence and Crawford & Company, leading global data transformation. (Kenneth Araullo, 14/10/2025, Insurance Business, 'Insurance moves: Allianz UK, Zurich Insurance, HDI Global')HDI Global appointed Georgina Smart as Head of Global Risk Bloodstock & Equine, effective Oct 15. Based in London, she will lead underwriting and distribution strategy across international markets and the US. Smart previously held senior equine underwriting roles at Ashby Underwriting, Tokio Marine Kiln (Head of Equine), and Catlin. HDI’s UK & Ireland bloodstock team continues under Cathy Olive. (Kenneth Araullo, 14/10/2025, Insurance Business, 'Insurance moves: Allianz UK, Zurich Insurance, HDI Global')Miller appointed David Robinson as CEO of its MGA division and Neil Ross as Chief Underwriting Officer to drive specialty underwriting growth. Robinson is the former CEO of Optio Group and ex-Chubb/ACE Regional President for UK & Ireland; Ross joins from AXIS Capital, bringing deep experience across liability, cyber, and property, including digital underwriting initiatives. (Kenneth Araullo, 14/10/2025, Insurance Business, 'Miller names CEO for MGA division')Nexus Underwriting expanded its trade credit operations into Italy, establishing a Milan-based team led by Country Manager Roberto Calabretti. As the only Lloyd’s coverholder for trade credit in Italy, Nexus will roll out existing products and new local solutions; Federica Paudice joins mid-October as Broker and Partner Manager. The move supports European growth across financial lines, legal protection, and cyber. (Jonalyn Cueto, 14/10/2025, Insurance Business, 'Nexus Underwriting expands trade credit operations into Italy')Markel named Tom Hillier as Chief Underwriting Officer and will move to five international businesses (APAC, Canada, Europe, London Market, UK) by end-2025. The London Market unit will consolidate marine & energy, PFR & cyber, and specialty. Hillier previously served as MD – Specialty at Brit Insurance and, after joining Markel in Dec 2023, launched and led Markel’s Specialty practice within International Wholesale in 2023. He brings 20+ years’ experience across P&C lines, focused on underwriting performance and governance. (Jonalyn Cueto, 13/10/2025, Insurance Business, 'Markel names Hillier as CUO, unveils new five-business international structure')Westfield Specialty International appointed Sarah McNally as Head of Distribution, reporting to CUO Jeremy Shallow. London-based, she’ll lead product distribution strategy and broker engagement to drive growth and strengthen cross-class relationships. McNally joins from Zurich Insurance, where she spent 10+ years managing client and broker relationships. (Rod Bolivar, 13/10/2025, Insurance Business, 'Insurance moves: Westfield Specialty, MNK International, Diesta, Optio, Aon, and QBE')MNK International appointed James Gorsuch as Associate Director of UK and international real estate. He will lead reinsurance and wholesale service delivery for clients, including fund and asset managers. Gorsuch previously held roles at Marsh, Lockton, and Inicio Risk Solutions; MNK says the hire strengthens its global real estate capabilities. (Rod Bolivar, 13/10/2025, Insurance Business, 'Insurance moves: Westfield Specialty, MNK International, Diesta, Optio, Aon, and QBE')Optio Group named Harald Teige Head of Coastal Marine at S Insurance AS (Oslo), reporting to CUO Morten F. Basthus. With 30+ years in marine insurance, Teige will help expand the marine portfolio across Nordic and European markets. (Rod Bolivar, 13/10/2025, Insurance Business, 'Insurance moves: Westfield Specialty, MNK International, Diesta, Optio, Aon, and QBE')Aon plc appointed Michelle Beverely as Chief Broking Officer for commercial risk and Lucy Gleeson as Head of Products and Facilities, both reporting to Rob Kemp, CEO of commercial risk UK. Beverely will lead broking strategy and insurer relationships; Gleeson (formerly Head of Structured Portfolio Solutions) will oversee product development and market facilities. Aon says the moves align broking with client needs and bolster leadership. (Rod Bolivar, 13/10/2025, Insurance Business, 'Insurance moves: Westfield Specialty, MNK International, Diesta, Optio, Aon, and QBE')QBE appointed Insaf Idelhaj as Senior Manager for cyber services and risk engineering in Paris. Idelhaj will support underwriters with cyber risk engineering and develop client-facing cyber services; QBE says her technical expertise strengthens its global cyber offerings. (Rod Bolivar, 13/10/2025, Insurance Business, 'Insurance moves: Westfield Specialty, MNK International, Diesta, Optio, Aon, and QBE')FERMA appointed Laurent Nihoul as CEO effective Dec 1, the first senior leader from the insurance/risk sector to hold the role. A former ArcelorMittal Group Head of Insurance with nearly 30 years’ experience, he’ll strengthen advocacy, deepen member engagement, and elevate the risk profession across Europe and globally. (Kenneth Araullo, 13/10/2025, Insurance Business, 'FERMA appoints Laurent Nihoul as CEO, marking insurance industry first')Brokerslink appointed four new regional managers: Enitan Solarin (Africa), Rodney Farah (Americas), Tushar Thakker (Asia-Pacific), and Lívia Bisoni (Europe), joining Tatiana Akl (Middle East). Each will lead steering teams to drive cross-border growth and knowledge sharing across the network, which spans 133 countries. CEO José Manuel Fonseca said their experience will fuel innovation and regional expansion. (Josh Recamara, 13/10/2025, Insurance Business, 'Insurance moves: Brokerslink, Fenchurch Law, Allianz Commercial, iFarm')Allianz Commercial appointed Christophe Zaniewski as Managing Director for France effective April 2026, succeeding Patrick Thiels, who becomes EMEA Chief Client Officer. Paris-based, Zaniewski will oversee mid-market, large corporate, and specialty lines, reinforcing Allianz’s commercial and specialty presence in France. He brings 25+ years’ experience, including executive roles at AIG in France, Belgium, and Luxembourg. (Josh Recamara, 13/10/2025, Insurance Business, 'Insurance moves: Brokerslink, Fenchurch Law, Allianz Commercial, iFarm')iFarm Underwriting (Rokstone) appointed James King to its underwriting team. Formerly at Geo Agriculture, he brings 13 years in farm and motor insurance and will support brokers across farm combined, farm focus, property owners, and farm motor. Head Lee Ellis said King’s expertise will bolster service and expand cross-class capacity. (Josh Recamara, 13/10/2025, Insurance Business, 'Insurance moves: Brokerslink, Fenchurch Law, Allianz Commercial, iFarm')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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The InsurTech paradox: opportunities for insurers

While insurers focus heavily on AI chatbots and automating claims processes, research shows they could be overlooking a more significant opportunity, using digital platforms to access previously inaccessible customers. New digital platforms and distribution channels now make it possible for insurers to reach customers instantly with relevant products that offer coverage tailored to specific moments or events. The InsurTech market is projected to grow from $25.97 billion to $609.50 billion by 2034 (Precedence Research: Insurtech market size, share, and trends 2025 to 2034), representing a staggering 37.10% compound annual growth rate. In the UK specifically, the InsurTech market is expected to reach $49.51 billion in 2025 and grow at a CAGR of 8.52% to reach $74.41 billion by 2030 (Mordor Intelligence: UK InsurTech market size and share analysis). This isn't growth in traditional insurance sold slightly better. It's billions in new premium from micro-policies, embedded coverage, and on-demand insurance that were previously impossible to distribute economically. Previously, the administrative cost of selling and servicing these products exceeded the premium. Now, automation and embedded distribution have flipped the economics entirely.However, growth isn’t evenly distributed, the market is splitting into distinct lanes each with different economics, customers, and profit models. Some segments are growing at 15%, others at 40%. The companies winning are those picking the right lane, not just accelerating. The question isn't whether to adopt Insurtech, it's which segment insurers should focus on before their competitors do.The protection gapThe global protection gap is projected to reach $1.86 trillion in 2025 (PWC: Protection gap could reach US$1.86tn by 2025, with Asia-Pacific region accounting for almost half of all uninsured risk). That's nearly $2 trillion in insurable risk, which remains inaccessible through conventional distribution channels. This isn't a market failure, it's a distribution inefficiency masquerading as a product problem.The innovation needed isn't in creating better insurance products, it's ensuring customers are able to access adequate coverage precisely when they need it. Where smart money is movingThe embedded insurance market is projected to reach $210.90 billion with a CAGR of 35.14% (FinTech Global: What is embedded insurance 2.0?), which is faster growth than the broader InsurTech market, because embedded insurance solves distribution. When someone books a flight, rents a car, or buys a phone, they're already in a transaction mindset. Research shows that 70% of digital bank customers are interested in receiving insurance offers embedded within their banking services, compared to 44% of traditional bank customers (FinTech Global: What is embedded insurance 2.0?).For insurers and brokers in 2026, this creates three distinct opportunities:1. Partnership economics have flippedFive years ago, insurers paid FinTechs to distribute their products, but now the negotiating power has shifted, with established digital platforms actively seeking insurance partners to enhance their value proposition. The UK is widely recognised as a leading InsurTech market at the forefront of innovative developments including parametric insurance, making it a prime testing ground for these partnerships.2. Specialty lines are outpacing other areas Specialty lines, encompassing cyber, pet, marine, and travel insurance, are forecast to expand at a 19.34% CAGR through 2030 (Mordor Intelligence: UK InsurTech market size and share analysis), signalling faster growth than traditional property and casualty. In the UK, companies like Zego (commercial vehicle insurance), Marshmallow (motor insurance for diverse communities), and ManyPets are leading the charge. These products are perfectly suited for embedded distribution because they're event-driven and purchase-specific. 3. The broker model is being reinvented, not eliminatedContrary to popular belief, technology isn't replacing brokers, it's changing what they broker. Specialty brokers are described as "the connective tissue of the global insurance market" (Insurance Times: Briefing: Protection gap warning poses real questions for UKGI) and remain central to closing the innovation gap. The firms winning in 2026 will be those that use technology to access previously uneconomical market segments.The AI reality check AI and machine learning led the InsurTech technology segment in 2024 (Mordor Intelligence: UK InsurTech market size and share analysis), but not in the way most people may assume. The real value isn't in replacing underwriters, it's in making micro-decisions at scale.AI is transforming insurance viability by enabling models like parametric coverage, which were once only theoretical, to become economically viable through automatic, data-driven payout execution. AI hasn't changed the insurance model; it's made new models economically viable.Research shows that more InsurTech companies are looking to redefine insurance with autonomous AI agents by 2026 (FinTech Futures: Insurtech Global Strategic Business Analysis Report 2024). Focusing on enhancing systems that can assess risk, calculate premiums, and process claims for micro-policies that would have been unprofitable to administer manually.What this means for insurers and brokers The insurers and brokers winning in 2026 won't be those with the best AI or the most slickest apps, they'll be those who answered three questions correctly:Where are my customers already making decisions?Not where you wish they were shopping for insurance, but where they're actually spending time and money.What risks become insurable at scale?When administrative costs approach zero, products that seemed too small to matter suddenly represent billions in aggregate premium.Who do I need to partner with to ensure business growth?Experts predict the rate of M&A deals to increase across the insurance sector, along with increased momentum around open insurance. The winners will be those who think ahead and partner with a business who is able to introduce them to new opportunities and enable innovation. For insurers still focusing on building better comparison websites or optimising internal processes, 2026 could be challenging. For those reimagining distribution entirely, it will be transformational.The technology exists and the demand is proven. The real question will be whether insurers are positioned where the growth is happening, or where it used to be.For more information on this topic, or for support with your business growth needs don’t hesitate to contact one of our recruitment or M&A consultants. Sources FinTech Futures: Insurtech Global Strategic Business Analysis Report 2024Insurance Times: Briefing: Protection gap warning poses real questions for UKGIMordor Intelligence: UK InsurTech market size and share analysisPrecedence Research: Insurtech market size, share, and trends 2025 to 2034PWC: Protection gap could reach US$1.86tn by 2025, with Asia-Pacific region accounting for almost half of all uninsured risk

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General Insurance newsletter Friday 10th October 2025

Insurance NewsThe InsurTech paradox: opportunities for insurers - As the InsurTech market booms, with CAGR expected to reach $609.50 billion by 2034, there is a huge opportunity for insurers to re-evaluate product distribution. Our insights piece discusses which InsurTech segment insurers need to focus on to improve customer accessibility. (IDEX Consulting news, 'The InsurTech paradox: opportunities for insurers')New M&A sell side solutions offered by IDEX - Considering a sale but feel unprepared and unsure of the market opportunities? IDEX M&A are offering brokers and MGAs a completely new approach focused on a simple but effective 3 step plan. Get in touch for more info. (IDEX Consulting news, 'New M&A sell side solutions offered by IDEX')How to simplify your interview process - Businesses are quickly losing top prospective talent to competitors because of slow, inefficient and unnecessarily complex interview processes. Read our top tips on how to easily improve your interview strategy and avoid missing out on in-demand talent. (IDEX Consulting news, 'How to simplify your interview process')Looking for top US talent? - With established US market connectivity, our consultants working across the US insurance market have strong relationships with a highly skilled and specialised talent pool of professionals looking for their next opportunity. Learn more about our hiring solutions. (IDEX Consulting news, 'Looking for top US talent?')According to Ecclesiastical’s latest Broker Wellbeing Survey, UK broker stress is at a six-year high (47.5% high/very high), driven by workload, regulation, customer demands, and staff shortages, while most brokers feel equipped to manage mental health and report increased employer support (flexible work, counseling, training). (Jonalyn Cueto, 10/10/2025, Insurance Business, 'Broker stress hits six-year high')Gauntlet urges small and mid-sized directly authorised brokers—especially those under ~£1.5m premium income—struggling in a soft market to de-authorise and join its AR network for market access, reduced compliance/overheads, and growth via aggressive new-business focus, showcased at its conference alongside awards and record recruitment. (Jonalyn Cueto, 10/10/2025, Insurance Business, 'Gauntlet highlights pathway for struggling brokers')According to Circle Marine Insurance Services, UK specialty marine insurance faces softening rates from new entrants even as claims, reinsurance, and geopolitical risks rise—intensifying underwriting scrutiny and making price-first placements likely to leave clients exposed. (Bryony Garlick, 9/10/2025, Insurance Business, 'Softening rates and rising risks: Inside UK specialty marine insurance trends')Munich Re Specialty secured approval to offer commercial insurance in Germany, launching construction, property, renewable energy, and surety via a German MGA branch placing through Great Lakes Insurance SE, with a Frankfurt office planned and José David Jiménez García appointed managing director. (Kenneth Araullo, 9/10/2025, Insurance Business, 'Munich Re Specialty gains approval to launch commercial insurance in Germany')QBE warns ransomware will escalate as criminals exploit AI and cloud vulnerabilities—UK saw 49 major incidents over two years—with deepfakes rising, cloud alerts surging, and firms urged to strengthen identity controls, third‑party oversight, encryption, and continuous monitoring. (Josh Recamara, 9/10/2025, Insurance Business, 'Ransomware threats escalate as AI and cloud vulnerabilities grow, QBE warns')Blink Parametric’s Sid Mouncey says UK insurtech leadership is shifting from shiny tech to evidence-based, embedded solutions that integrate with regulation and deliver measurable outcomes—positioning brokers to win as parametric, Consumer Duty‑aligned products scale across distribution. (Bryony Garlick, 8/10/2025, Insurance Business, 'Innovation leadership rebooted in UK insurtech')CRIF research shows 84% of Britons expect fraud against banks and insurers to worsen by 2030—higher than major EU peers—with younger consumers both less concerned and more likely to be victims, prompting calls for stronger security, data governance, and cross‑sector collaboration. (Kenneth Araullo, 8/10/2025, Insurance Business, 'Britons expect surge in bank and insurance fraud by 2030 – CRIF')Willis reports the global mining insurance market is softening, with falling rates, expanded coverage and rising capacity driven by new entrants—though regulators, ESG, natural hazard and casualty pressures persist, requiring proactive, data‑led risk management and early insurer engagement. (Kenneth Araullo, 8/10/2025, Insurance Business, 'Global mining insurance market softens as rates drop and capacity grows – Willis')OneAdvent secured new Lloyd’s-backed capacity from Casper Specialty UK for its Financial Lines MGA, enabling measured expansion into the EU and emerging markets while reinforcing disciplined underwriting under Roberto Murru’s leadership, according to CEO Tim Quayle. (Josh Recamara, 8/10/2025, Insurance Business, 'OneAdvent secures new Lloyd's capacity to drive financial lines growth')Hazelton Mountford expanded its Worcester HQ by adding an extra floor to house its fast-growing property division, investing in talent and tech to boost efficiency and client service amid rising demand for specialist property cover. (Josh Recamara, 8/10/2025, Insurance Business, 'Hazelton Mountford expands Worcester headquarters')Fortegra secured a Lloyd’s underwriting box (Box 388), deepening its London Market integration to collaborate more closely with brokers and syndicates and expand specialty reach across the UK and Europe, per CEOs Rick Kahlbaugh and Mark Figes. (Josh Recamara, 8/10/2025, Insurance Business, 'Fortegra strengthens London market presence with Lloyd's underwriting box')HSB launched CyberPro for micro and small businesses in the UK and Ireland—combining cover for breaches, ransomware and system failures with a 24/7 incident‑response helpline—aimed at closing SMEs’ preparedness gap and available to e‑trade via Acturis and HSB Fast Track. (Josh Recamara, 8/10/2025, Insurance Business, 'HSB unveils cyber insurance solution for micro and small businesses in UK and Ireland')UK insurers are leading boardroom shifts toward tech expertise as AI adoption accelerates: 66% of new insurance directors have tech backgrounds (vs 52% across UK financial services; 35% Europe), with strong gains in gender diversity—per EY’s Boardroom Monitor and AI Confidence Pulse. (Josh Recamara, 7/10/2025, Insurance Business, 'Insurers lead UK push for tech expertise in boardrooms as AI adoption rises')Willis’ Cyber in Focus 2025 report finds a gap between board confidence and cyber realities: ransomware outages have a median 24-day duration with average losses of US$2.7 million; only 68% of boards tested response plans last year; vendor-related breaches account for nearly half of incidents—prompting calls for simulations, vendor analytics, and AI governance. (Kenneth Araullo, 6/10/2025, Insurance Business, 'Gaps apparent between boardroom perception and cyber reality – Willis')RSA and NIG have rebranded to Intact Insurance across the UK, Ireland and Europe, unifying operations under a single brand to support growth ambitions and strengthen commercial and specialty lines—leveraging a broad product set and global risk consulting network. (Josh Recamara, 6/10/2025, Insurance Business, 'RSA and NIG rebrand to Intact Insurance')LIIBA warns the $2.5 trillion global protection gap could widen without stronger backing for brokers, who are driving product innovation amid four risk trends: digital dependency, climate volatility, geopolitics, and intangible assets. Calls include regulatory sandboxes, modernised licensing, and dedicated innovation capital to unlock broker-led solutions. (Josh Recamara, 6/10/2025, Insurance Business, 'LIIBA warns failure to back brokers could widen $2.5 trillion protection gap')Mergers and AcquisitionsTokio Marine plans to deploy over $10 billion from unwinding cross-shareholdings to accelerate overseas M&A, rebalancing profits beyond the US by targeting smaller personal-lines carriers and specialty expansion across North America, Latin America, Southeast Asia, and Australia. (Matthew Sellers, 9/10/2025, Insurance Business, 'This big insurer has $10 billion to spend on acquisitions')MoversLiberty Specialty Markets has promoted Henry Nelson to Active Underwriter for Lloyd’s Syndicate 4472, expanding his UK & MENA CUO role; Nelson, who joined LSM in 2013, previously served as Chief of Staff, Head of Portfolio Management (London & Global Products), Marine Portfolio Manager, and Terrorism/War Underwriter, following earlier experience at Aon Crisis Management - part of a leadership transition ahead of Jane Warren’s planned retirement and ongoing regional restructuring. (Rod Bolivar, 10/10/2025, Insurance Business, 'Liberty Specialty Markets promotes Henry Nelson to active underwriter')AmTrust International has appointed Tony Scott as Head of AmTrust Specialty Limited Claims and Head of Claims for its specialty unit, tasking him with leading strategy, operations, and innovation across specialty claims; Scott brings 30+ years’ experience from HSBC, Canopius, and most recently Geo Underwriting. (Jonalyn Cueto, 10/10/2025, Insurance Business, 'Scott named head of claims for AmTrust Specialty')Blenheim Partnerships appointed Geoff Pryor-White to lead its new cyber unit, leveraging his three decades in cyber/tech E&O and Tarian founder experience to bolster specialist delegated authority growth and attract seasoned underwriting talent under CEO Peter Scales’ strategy. (Josh Recamara, 9/10/2025, Insurance Business, 'Insurance moves: Broadstone, MAXIS, Blenheim and SRG')Specialist Risk Group created a team in its International division to coordinate insurance placements for UK subsidiaries of overseas corporates—offering a single UK touchpoint aligned with parent programs and giving overseas brokers a clearer London Market route as part of SRG’s international growth strategy, per deputy CEO Lee Anderson. (Josh Recamara, 9/10/2025, Insurance Business, 'Insurance moves: Broadstone, MAXIS, Blenheim and SRG')Arch Insurance UK named Martin Cleary, Leeds Branch Manager, to lead a 15-person team, strengthen broker distribution, and advance North-East growth—bringing 30+ years’ experience from Bravo Network and Groupama under Regional Manager Janine Starkie’s strategy. (Josh Recamara, 8/10/2025, Insurance Business, 'Insurance moves: Arch, 4most and Acquis')Decus Insurance Brokers launched a new wholesale construction division, appointing industry veteran Steve Downing to lead it—leveraging his 30+ years’ construction insurance experience—to expand London/European specialty capabilities and target complex project risks as infrastructure investment and ESG demands rise. (Josh Recamara, 7/10/2025, Insurance Business, 'Decus Insurance launches construction division to strengthen specialty capabilities')Arch Insurance International appointed Miriam Reid as Head of Business Solutions, overseeing strategic operations, transformation, and organisational alignment; the London-based leader brings 20+ years’ experience from Beazley (Cyber Risks Chief of Staff/Head of Business Management) and AIG, reporting to COO Ketan Motwani to drive scalable, tech-enabled growth. (Kenneth Araullo, 6/10/2025, Insurance Business, 'Insurance moves: Arch Insurance, Westfield Specialty')Westfield Specialty International appointed Andrew Richardson as Head of Open Market Property in London, reporting to Richard Wood. With 30+ years’ experience (ex-Head of Commercial Lines at Faraday Underwriting), he’ll set portfolio strategy, maintain underwriting discipline, and work closely with clients and brokers to drive growth. (Kenneth Araullo, 6/10/2025, Insurance Business, 'Insurance moves: Arch Insurance, Westfield Specialty')Allianz Commercial appointed James Raven as UK Regional Head of Liability, succeeding Luke Baker - who earlier this year became Director UK Global and AGCS SE Branch Manager. London-based, Raven will steer large corporate liability strategy and profitability, bringing 25+ years’ corporate casualty experience as Allianz targets disciplined growth amid heightened claims pressures. (Josh Recamara, 6/10/2025, Insurance Business, 'Allianz Commercial names new UK regional head of liability')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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