Award Winning Independent Recruitment & Business Growth Consultancy |

General Insurance newsletter Friday 15th August 2025

Insurance NewsWhat do possible wealth tax changes mean? - The potential introduction of a UK wealth tax, highlighted in discussions around the Autumn Budget 2025, has created uncertainty for wealth managers and their clients. This has led to increased client inquiries, concerns over capital flight, and a need for strategic adjustments in investment and tax planning to navigate potential regulatory changes. (IDEX Consulting news, 'What do possible wealth tax changes mean?')Risk and compliance employment market insights - The risk and compliance talent market is evolving rapidly, driven by increasing regulatory complexity and technological advancements. Employers face challenges in attracting top talent, with demand for professionals skilled in areas like ESG, data privacy, and M&A. Jack Johnson of IDEX Consulting emphasises the importance of streamlined hiring processes, strong employer branding, and adapting to trends like automation and AI to secure the best talent. (IDEX Consulting news, 'Risk and compliance employment market insights')Get the business edge with a competitive sustainability strategy -Building and implementing a sustainability strategy is crucial for businesses to attract talent, investors, and clients while addressing regulatory and societal demands. Dr. Rosina Watson of Cranfield School of Management highlights the importance of basing your strategy on the UN's sustainability goals, avoiding greenwashing, and preparing for future challenges to drive positive change and long-term success.(IDEX Consulting news, 'Get the business edge with a competitive sustainability strategy')Cyber risks for the US insurance market: what you need to know - The rising frequency and sophistication of cyber risks, including ransomware, data breaches, and AI-driven attacks, are significantly impacting the US insurance market. With most businesses under-insured, insurers face challenges in adapting to evolving threats and upskilling employees on cyber resilience. (IDEX Consulting news, 'Cyber risks for the US insurance market: what you need to know')Fidelis Insurance reported a net loss of $22.8 million for the first half of 2025, driven by $407.6 million in catastrophe and large losses, including California wildfires and aviation claims tied to the Ukraine conflict. Despite these challenges, the company expanded its risk transfer capabilities with a $90 million catastrophe bond and maintained confidence in delivering shareholder returns. (Kenneth Araullo, 14/8/2025, Insurance Business, 'Fidelis records H1 loss as wildfire and aviation claims drive costs')The UK government’s proposed ban on ransomware payments by public sector bodies and critical infrastructure operators could reshape cyber insurance underwriting, with insurers expected to tighten resilience requirements, revise policy terms, and reassess risk models to address increased claims exposure and operational disruptions. (Kenneth Araullo, 14/8/2025, Insurance Business, 'Proposed ransom ban raises underwriting pressure on cyber insurers')Aviva's H1 2025 operating profit rose 22% year-on-year to £1.07 billion, driven by a focus on capital-light businesses, which now contribute 66% of profits, alongside growth in insurance, wealth, and retirement sales. (Kenneth Araullo, 14/8/2025, Insurance Business, 'Aviva boosts H1 operating profit as capital-light strategy pays off')Talanx Group reported record H1 2025 net income of €1.37 billion, up from €1.09 billion, driven by strong contributions across divisions, lower large loss payments, and favourable currency effects, prompting an upgraded full-year forecast to €2.3 billion. (Kenneth Araullo, 14/8/2025, Insurance Business, 'Talanx lifts 2025 income forecast after record €1.37bn H1 profit')Insurtech Gateway acquired a Lloyd’s license, enabling direct access to the Lloyd’s market for early-stage MGAs, streamlining underwriting capacity and accelerating product launches in underserved and emerging risk markets. (Josh Recamara, 14/8/2025, Insurance Business, 'Insurtech Gateway acquires Lloyd’s license to trade')CFC's carbon insurance product supported a $210 million project finance credit facility for Chestnut Carbon, backed by a Microsoft carbon removal agreement. This innovative insurance, mandated by lenders, enabled lower-cost financing and highlights the growing role of insurance in de-risking voluntary carbon markets and fostering climate finance. (Josh Recamara, 14/8/2025, Insurance Business, 'CFC supports voluntary carbon market financing')MS&AD Insurance Group reported a 9% rise in Q1 net income to ¥222.7 billion ($1.51 billion), driven by improved underwriting performance and reduced natural catastrophe losses. While domestic nonlife operations saw strong growth, international profits declined due to stock price drops and foreign exchange losses, with mixed results across regions. (Jonalyn Cueto, 13/8/2025, Insurance Business, 'MS&AD reports higher Q1 profit')Beazley shares dropped 11.8% after lowering its 2025 premium growth forecast to low-to-mid single digits, citing large catastrophe losses and rising cyber threats. Despite a 31% drop in H1 profit to $502.5 million, Beazley maintained strong underwriting discipline with an 80.3% combined ratio, outperforming peers Hiscox and Lancashire. Its solvency ratio rose to 287%, signalling potential for strategic expansion amid challenging market conditions. (Matthew Sellers, 13/8/2025, Insurance Business, 'Beazley shares plummet as growth forecast cut – but underwriting discipline still leads peers')Antares Syndicate 1274 at Lloyd’s reported a $42 million H1 profit, exceeding targets despite major losses from California wildfires and Russian aviation claims. With a 96.3% combined ratio on $369 million in gross written premiums, CEO Mark Graham credited strong underwriting and portfolio diversity for the syndicate's resilience. (Kenneth Araullo, 13/8/2025, Insurance Business, 'Antares Syndicate beats H1 profit target despite major wildfire and aviation losses')Evolution Claims Management has relocated to a new headquarters in Oldbury, West Midlands, as part of its expansion. The move provides a modern, eco-friendly workspace for its growing team, which has doubled to 55 employees since 2020. CEO Russell Crewe highlighted the improved environment's positive impact on collaboration, productivity, and sustainability. (Josh Recamara, 13/8/2025, Insurance Business, 'Evolution Claims Management moves into new headquarters')The insurance industry is advancing gender balance through cross-gender collaboration, with research showing that inclusive leadership teams improve profitability and retention. ISC Group, with over 10,000 members, is leading efforts by appointing its first male ambassador, Hugh Evans of KPMG, and forming a Male Allyship Committee to drive cultural change and unlock talent potential. (Carmen Powell, 12/8/2025, Insurance Business, 'Driving gender balance in insurance')Markel-backed Certa Specialty Limited has launched to provide consultancy services for managing agents and Coverholders in the Lloyd’s London market. Led by Dan Lott, the firm focuses on MGA compliance, governance, and binding authority agreements. This launch aligns with market trends emphasising robust due diligence and regulatory compliance for MGAs. (Kenneth Araullo, 12/8/2025, Insurance Business, 'Markel-backed Certa Specialty launches, targets MGA compliance and growth')Howden Group has repriced a $3.1 billion term loan and £765 million credit facility, securing $8 million in annual savings. CFO Mark Craig highlighted this as one of the tightest pricing levels for leveraged loans in its category, reflecting investor confidence in Howden’s growth trajectory. (Josh Recamara, 12/8/2025, Insurance Business, 'Howden Group reprices US$3.1 billion loan')Marine insurers are rethinking coverage as geopolitical instability becomes a constant in the shipping industry, says The Swedish Club. Managing director Thomas Nordberg highlighted challenges like sanctions, altered routes, and cyber risks, emphasising the need for advisory roles and industry collaboration on geopolitical risk data. (Josh Recamara, 12/8/2025, Insurance Business, 'Marine insurers forced to rethink coverage')Rokstone-owned Novus Underwriting has secured an exclusive binding authority agreement with Collinson Insurance, covering over 500,000 annual warranty policies. This partnership supports Novus’s UK operations and complements its global presence across 26 countries, with plans to expand into the US, Australia, and India. (Kenneth Araullo, 11/8/2025, Insurance Business, 'Rokstone-owned Novus secures exclusive binder with Collinson Insurance')Prestige Underwriting’s latest survey reveals deepening underinsurance in the UK non-standard market, with 92% of brokers citing affordability issues as a key factor. Tim Baxter, business development director, emphasised the need for tailored solutions to address economic pressures and evolving client needs. (Kenneth Araullo, 11/8/2025, Insurance Business, 'Underinsurance trend deepens in UK non-standard sector, Prestige Underwriting finds')Miller’s mid-year 2025 update highlights a softening London construction market, with falling rates and increased competition. Underwriting discipline is under pressure as capacity grows, while evolving risks like NATCAT exposure and AI-related liabilities reshape approaches across construction, PI, D&O, and real estate sectors. (Josh Recamara, 11/8/2025, Insurance Business, 'Softening London construction market puts pressure on underwriting discipline')Mergers & AcquisitionsMarshBerry reports that the UK insurance distribution M&A market has undergone a valuation reset, with private equity-backed brokers seeing lower multiples, a shift from scale-driven acquisitions to strategic fit, and increased opportunities for diverse and international buyers due to moderated pricing. (Josh Recamara, 15/8/2025, Insurance Business, 'MarshBerry says UK insurance distribution M&A market has seen valuation reset')Specialist Risk Group (SRG) announced plans to acquire City Quarter Brokers, a London-based firm specialising in complex risks in construction, engineering, and infrastructure. The acquisition, pending regulatory approval, will enhance SRG’s Wholesale division and expand its capacity to deliver placement solutions for global complex risks. City Quarter Brokers CEO Rob Walton highlighted the deal's potential to provide greater resources while maintaining a specialist focus. (Josh Recamara, 13/8/2025, Insurance Business, 'Specialist Risk Group to acquire City Quarter Brokers')Unilink Group, owned by Acrisure, has acquired Mega Brokers, Greece’s largest retail insurance agent, marking its entry into the Greek market. The deal combines Mega Brokers’ local expertise with Unilink’s regional scale, expanding its network to 10.3 million clients across nine countries. (Josh Recamara, 11/8/2025, Insurance Business, 'Unilink Group acquires Greek retail insurance agent')MoversHiscox has appointed Matthew Budd as Group Head of Technical Claims, a new role aimed at enhancing the handling of complex, high-value claims. Budd brings over 30 years of experience, including leading aerospace claims at AIG and senior roles at Talbot Underwriting, aligning with Hiscox's growth ambitions and the industry's focus on technical expertise to address rising claims complexity. (Josh Recamara, 15/8/2025, Insurance Business, 'Hiscox Group names group head of technical claims')AXIS Capital launched AXIS Capacity Solutions, a new unit led by David Murie, a chartered accountant with over 15 years of experience, including roles as Global Head of Underwriting Governance & Execution and Head of Business Performance at AXIS International Insurance. Murie, who also held managerial positions at Aviva, will leverage his expertise to develop multi-line portfolio capacity deals, utilising AXIS's global underwriting platform and Lloyd’s licenses to meet the rising demand for streamlined risk placement and enhanced broker relationships. (Josh Recamara, 14/8/2025, Insurance Business, 'AXIS Capital launches new business unit')Amiga Specialty, backed by B.P. Marsh, appointed Richard Mills as Transactional Risks Managing Director for the UK and Europe. Based in London, Mills, who began his insurance career at Capital Risks in 2018 and previously held legal roles at Proskauer Rose and Linklaters, will establish and lead the transactional risks line, focusing on strategic positioning, distribution, and carrier relationships. This marks Amiga’s entry into the growing transactional risks market, addressing warranties, indemnities, tax liabilities, and contingent risks amid rising M&A activity and corporate restructurings. (Josh Recamara, 14/8/2025, Insurance Business, 'Insurance moves: Amiga Specialty and Verisk')Verisk appointed Eric Spear as Chief Technology Officer for its Extreme Event Solutions division. Spear, formerly Senior Vice President of engineering at Flywire, will oversee engineering, quality assurance, and IT, focusing on advancing AI- and cloud-based catastrophe risk modelling. Extreme Event Solutions, which provides models for over 120 countries, aims to enhance automation, scalability, and resiliency in response to growing climate volatility, secondary perils, and severe weather losses impacting underwriting. (Josh Recamara, 14/8/2025, Insurance Business, 'Insurance moves: Amiga Specialty and Verisk')Davies appointed Richard Barke as CEO of its Insurance Solutions division. With over 20 years of experience, including leadership roles at Asta, Aspen, and KPMG, Barke will oversee operations and drive growth strategies. His appointment aligns with Davies' Vision 2030 strategy to expand global revenues and invest in innovation. (Kenneth Araullo, 12/8/2025, Insurance Business, 'Davies appoints Richard Barke to head Insurance Solutions')Lancashire Holdings announced the Q1 2026 retirements of John Spence and Hayler Johnston, with internal promotions to succeed them. Rachel Sabbarton will lead Lancashire Syndicates Limited, and Jennifer Wilson will head Lancashire Insurance Company Limited. Other internal promotions include Matthew Thomas as CUO, Colette Murphy as deputy CUO, and Tom Sutton and David Chalk as deputy underwriters for Syndicates 2010 and 3010. (Josh Recamara, 12/8/2025, Insurance Business, 'Insurance moves: Lancashire, BHSI, Vitality, Fidelis and Blenheim')Berkshire Hathaway Specialty Insurance has appointed Franco Masciovecchio as Country Manager for Switzerland. Previously a senior property and construction underwriter in Europe, Masciovecchio will now lead growth in the DACH region, focusing on commercial and industrial risks. (Josh Recamara, 12/8/2025, Insurance Business, 'Insurance moves: Lancashire, BHSI, Vitality, Fidelis and Blenheim')The Fidelis Partnership has appointed Conor O’Riordan as group CFO, succeeding Hinal Patel. O’Riordan, previously Chief Capacity Officer and a senior leader since 2021, played a key role in major capital transactions and the firm’s bifurcation from Fidelis Insurance Group. (Josh Recamara, 12/8/2025, Insurance Business, 'Insurance moves: Lancashire, BHSI, Vitality, Fidelis and Blenheim')Blenheim Underwriting has appointed Alex Stratton-Thomsett as Casualty Underwriter starting January 2026. Previously Lead Underwriter for US casualty at MS Amlin, he will work with David Barber to grow the MGA’s casualty portfolio. (Josh Recamara, 12/8/2025, Insurance Business, 'Insurance moves: Lancashire, BHSI, Vitality, Fidelis and Blenheim')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

Read Article

General Insurance newsletter Friday 8th August 2025

Insurance NewsIDEX Consulting and WPR form strategic merger to deliver change and transformation talent solutions - Combining WPR's expertise in contract and permanent change management recruitment and IDEX's global reach, clients across finance change and technology change will be supported with their most complex transformation initiatives.(IDEX Consulting news, 'IDEX Consulting and WPR form strategic merger to deliver change and transformation talent solutions')What are the implications of the wealth tax uncertainty? - The potential introduction of a UK wealth tax, highlighted in Autumn Budget 2025 discussions, raises challenges and opportunities for wealth managers, requiring proactive strategies to address client concerns, mitigate risks, and adapt to evolving regulatory landscapes. (IDEX Consulting news, 'What are the implications of the wealth tax uncertainty?')Captive insurance reforms: what you need to know- The UK’s new captive insurance framework aims to boost competitiveness by streamlining authorisations, lowering capital requirements, and integrating captives into the PCC framework, positioning the UK as a stronger player in the global captive insurance market. (IDEX Consulting news, 'Captive insurance reforms: what you need to know')Nuclear fusion energy: impact for insurers- The rise of nuclear fusion energy, with its safety and sustainability advantages, presents insurers with opportunities to innovate coverage models, moving beyond outdated fission-era exclusions to support this transformative energy source and its unique risk profile. (IDEX Consulting news, 'Nuclear fusion energy: impact for insurers')QBE reported a 27% rise in half-year net profit to US$1.02 billion, driven by a 6% increase in gross written premium to US$13.8 billion and an improved combined operating ratio of 92.8%, despite global weather challenges. (Daniel Wood, 8/8/2025, Insurance Business, 'QBE has a 27% profits surge')Aspen Insurance's Q2 2025 underwriting income rose to $100 million, with a combined ratio improvement to 85.1% and a 53.5% year-on-year increase in fee income from its capital markets division, reflecting strong performance across earnings streams. (Kenneth Araullo, 8/8/2025, Insurance Business, 'Aspen Insurance improves underwriting income in Q2')Tokio Marine's Q1 net income surged by 136% year-on-year to ¥466.8 billion, driven by strong underwriting and investment gains, despite a decrease in total assets and challenges in international insurance performance. (Kenneth Araullo, 8/8/2025, Insurance Business, 'Tokio Marine Q1 net income soars on strong underwriting and investment gains')MS Amlin's Q1 2025 profit after tax rose to £15 million (up from £11 million in Q1 2024), driven by strong premium growth despite wildfire-related losses, with net premium written increasing by £283 million year-on-year. (Kenneth Araullo, 8/8/2025, Insurance Business, 'MS Amlin Q1 profit after tax climbs despite wildfire impact')SiriusPoint is leveraging broker-led Managing General Agent (MGA) programs as a key growth strategy, with over half of its premiums now flowing through MGAs, emphasising underwriting discipline, selective partnerships, and alignment with fast-growing distribution channels in the US and UK. (Gia Snape, 7/8/2025, Insurance Business, 'SiriusPoint doubles down on MGAs to fuel growth amid market volatility')Insurance M&A activity hit historic lows in H1 2025 due to geopolitical and macroeconomic uncertainty, including the lingering impact of Trump-era policies, but cautious optimism for H2 growth is driven by pent-up demand, clearer policy directions, and a focus on MGAs and emerging markets for strategic expansion. (Gia Snape, 7/8/2025, Insurance Business, 'Cautious optimism rises after Trump-era uncertainty slows insurance M&A')Liberty Mutual reported $2.87 billion in H1 2025 profit, driven by a sharp 53.6% drop in catastrophe losses and strong underwriting discipline, despite a modest 1.9% decline in net written premiums and a slight revenue contraction. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Liberty Mutual posts $2.87bn in H1 profit as catastrophe losses drop sharply')Fidelis Insurance announced a $200 million stock buyback plan and increased its quarterly dividend to $0.15 per share, emphasising shareholder value despite Q1 losses driven by California wildfires, with plans for disciplined capital management and long-term growth. (Josh Recamara, 7/8/2025, Insurance Business, 'Fidelis Insurance announces stock buyback plan, increases dividend')The UK P&I Club opened a new office in Newcastle to expand its talent pool, enhance service delivery, and strengthen ties with the region's maritime industry, aligning with its strategy of maintaining financial stability and underwriting quality. (Kenneth Araullo, 7/8/2025, Insurance Business, 'UK P&I Club expands local footprint with Newcastle office opening')Generali reported a €4.05 billion operating profit in H1 2025, an 8.7% increase driven by strong performance across P&C, life, and asset management segments, reflecting early progress on its "Lifetime Partner 27" strategic plan. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Generali operating profit rises to €4.05bn in H1 as all core segments deliver')Zurich Insurance Group posted a record H1 2025 operating profit, driven by improved underwriting results and growth across P&C, life, and farmers segments, with a 9% rise in P&C operating profit and a combined ratio improvement to 92.4%. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Zurich posts record H1 2025 profit as underwriting and segment growth accelerate')Allianz reported a €4.4 billion Q2 2025 operating profit, a 12.2% increase driven by broad business growth across all segments, with total business volume rising 8% and strong contributions from life/health and property-casualty divisions. (Kenneth Araullo, 7/8/2025, Insurance Business, 'Allianz Q2 profit jumps to €4.4bn amid broad business growth')AIG reported a $1.1 billion Q2 2025 net profit, reversing a $4 billion loss from the prior year, driven by strong general insurance underwriting, improved investment income, and cost savings from its transformation program, with a combined ratio of 89.3%. (Josh Recamara, 7/8/2025, Insurance Business, 'AIG reports dramatic reversal in second-quarter results')RSA Insurance partnered with the University of Hull for an 18-month research project to improve flood resilience in commercial properties, focusing on scalable property-level measures and developing tools to better model and manage flood risk amid rising climate-related claims. (Josh Recamara, 7/8/2025, Insurance Business, 'RSA Insurance partners with University of Hull for flood resilience research project')Aon launched the Accelerate Programme to support UK tech start-ups, particularly in AI and automation, by offering tailored risk management and insurance solutions, focusing on intellectual property protection and leveraging its global advisory expertise. (Kenneth Araullo, 6/8/2025, Insurance Business, 'Aon launches Accelerate Program to help UK tech start‑ups manage risk')Lancashire Holdings reported a 5.8% rise in H1 2025 gross premiums to $1.36 billion, driven by reinsurance growth and US platform expansion, despite wildfire losses impacting results. The company maintained resilience with a discounted combined ratio of 87.4%. (Kenneth Araullo, 6/8/2025, Insurance Business, 'Lancashire H1 premiums rise despite wildfire loss impact')Hiscox reported a 5.7% rise in H1 2025 premiums to $2.94 billion, with growth across all divisions. Retail led the expansion, while London Market and Re & ILS divisions contributed despite wildfire losses, reflecting the strength of its diversified business model. (Kenneth Araullo, 6/8/2025, Insurance Business, 'Hiscox H1 premiums rise as all divisions deliver growth')IGI reported a 3.9% rise in Q2 2025 net income to $34.1 million, despite weaker underwriting results due to higher loss ratios and catastrophe losses. Gross written premiums grew 1.9% in H1, driven by reinsurance expansion. (Kenneth Araullo, 6/8/2025, Insurance Business, 'IGI posts higher Q2 net income despite weaker underwriting results')According to Travelers, the rise in FSMA Sections 90 and 90A claims is transforming the UK D&O insurance landscape. Increased investor activism, collective litigation mechanisms, and regulatory scrutiny are driving these claims. Travelers emphasises the importance of brokers advising clients on robust D&O policies, entity securities cover, and reputational risk management to mitigate financial and reputational risks effectively. (Travelers, 5/8/2025, Insurance Business, 'How brokers can help clients manage rising D&O market risks')Amphitrite Underwriting has achieved full independence from Arch following a buyback of Arch’s minority stake. Founded in 2018, the marine MGA has expanded its portfolio beyond marine hull to include cargo and marine war insurance, with recent capacity support from Lloyd’s. CEO Konstantinos Tampakakis highlighted the milestone as a step toward diversifying the company’s global marine offerings, while Arch remains a key capacity provider for its marine hull business. (Kenneth Araullo, 5/8/2025, Insurance Business, 'Amphitrite Underwriting gains full independence from Arch')Artificial intelligence insurance premiums are projected to reach $4.8 billion globally by 2032, growing at an annual rate of 80%, according to Deloitte. As AI adoption accelerates, insurers are addressing risks like algorithmic bias, intellectual property violations, and system failures. Companies like Munich Re and Armilla AI are already offering tailored policies, while regulatory frameworks, such as the EU’s upcoming AI rules, are expected to drive demand for coverage. This trend mirrors the evolution of cyber insurance, with insurers cautiously developing bespoke frameworks to price emerging AI risks. (Matthew Sellers, 4/8/2025, Insurance Business, 'Artificial Intelligence insurance premiums to hit US$4.8 billion within 7 years')CNA Financial reported Q2 2025 net income of $299 million, down from $317 million last year, while core income rose 3% to $335 million. The P&C segments saw a 5% growth in gross written premiums and a combined ratio improvement to 94.1%, aided by reduced catastrophe losses. CEO Doug Worman highlighted balanced growth and strong underwriting as key drivers for the first half of 2025. (Kenneth Araullo, 4/8/2025, Insurance Business, 'CNA sees growth in net premiums, stronger underwriting in Q2')Berkshire Hathaway's Q2 2025 net earnings fell to $12.37 billion, down from $30.35 billion, due to reduced investment gains and a $3.76 billion Kraft Heinz write-down. GEICO's earnings rose, but primary and reinsurance units declined. Operating earnings were $11.16 billion. (Josh Recamara, 4/8/2025, Insurance Business, 'Berkshire Hathaway posts lower Q2 net earnings')United Insurance Brokers Ltd (UIBL) has relocated its London headquarters to The Leadenhall Building, ending a 30-year tenure on Mansell Street. The move aligns with UIBL’s ESG goals and aims to modernise operations while enhancing collaboration. The new location, in the heart of London’s insurance district, supports the firm’s focus on innovation and client service. (Josh Recamara, 4/8/2025, Insurance Business, 'United Insurance Brokers Ltd moves London headquarters')Sabre Insurance reported a 26% rise in H1 2025 pretax profit to £25.5 million, despite a drop in gross written premium to £100.3 million. The combined operating ratio improved to 82.6%, and the net insurance margin rose to 19%. CEO Geoff Carter emphasised a focus on profitability over volume, with stabilising market conditions expected in H2. (Josh Recamara, 4/8/2025, Insurance Business, 'Sabre Insurance reports stronger profitability in first half of 2025')Mergers & AcquisitionsNFP acquired Bspoke Insurance Group, enhancing its presence in the UK’s delegated authority market and gaining access to specialist underwriting expertise, while Bspoke aims to accelerate growth with NFP's resources. (Josh Recamara, 8/8/2025, Insurance Business, 'NFP acquires Bspoke Insurance Group')Optio Group completed its acquisition of Circles Group, a leading European MGA in film and live event insurance, enhancing its specialty lines portfolio and leveraging Circles' digital underwriting technology to expand capabilities in high-value risk sectors. (Josh Recamara, 7/8/2025, Insurance Business, 'Optio Group completes purchase of Circles Group')Software Circle acquired a 95% stake in Dublin-based insurance tech firm Artificial Intelligence Finance (AIF) for €9 million, aiming to enhance digital mortgage and life insurance solutions. The deal reflects growing investor interest in platforms streamlining financial services. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance tech firm snapped up in €9 million deal')The Broker Investment Group (TBIG) has acquired KSL Thomas & Co Ltd, a Romford-based insurance broker specialising in commercial insurance with over 63 years of experience. Managing approximately £2 million in GWP, KSL Thomas will retain its brand, team, and premises, with Director Rex Thomas continuing in his role. This marks TBIG’s fifth acquisition of 2025, further expanding its footprint in Essex. The deal aligns with TBIG’s strategy of supporting regional brokers through sustainable growth and partnership, as it works toward its target of £250 million GWP by the end of 2024. (Josh Recamara, 5/8/2025, Insurance Business, 'The Broker Investment Group completes KSL Thomas acquisition')A consortium including Allianz, BlackRock, and Hannover Re has completed the acquisition of Viridium Group, a European closed-book life insurance platform, from Cinven. Viridium will remain independent, managing closed life insurance portfolios across Europe. The deal reflects growing interest in the life run-off sector, with insurers and asset managers collaborating to manage long-term obligations efficiently. (Josh Recamara, 4/8/2025, Insurance Business, 'Consortium completes acquisition of Viridium Group')MoversCFC appointed Dan Keeler as Head of Digital Underwriting to drive its API partner strategy and oversee its Connect platform, which handles 40% of new business inquiries. Keeler brings experience from Ascot Group as Portfolio Delivery Manager and prior roles in underwriting and transformation at Covea Insurance and Hiscox. (Josh Recamara, 8/8/2025, Insurance Business, 'Insurance moves: CFC, Liberty Mutual and Munich Re')Liberty Mutual Surety expanded its presence in Germany with a new office in Hamburg, complementing its Cologne base and supporting its global strategy. Martin Wendt, formerly of Tryg Trae and Allianz Trade, has been appointed head of Surety Germany, overseeing underwriting in Austria and Switzerland. (Josh Recamara, 8/8/2025, Insurance Business, 'Insurance moves: CFC, Liberty Mutual and Munich Re')Thomas Artmann, CEO of Munich Re Syndicate Limited (MRSL), will retire on August 30, 2026, after over 30 years with Munich Re. Having led the Lloyd’s platform since 2015, Artmann oversaw consistent performance and underwriting profitability. A successor will be announced later. (Josh Recamara, 8/8/2025, Insurance Business, 'Insurance moves: CFC, Liberty Mutual and Munich Re')Arch Insurance International appointed James Byford as Senior Contingency Underwriter to enhance its capabilities in event risk coverage, including event cancellation, non-appearance, liability, and cyber-linked exposures. Byford brings over 14 years of underwriting experience, joining during a period of increased risk awareness and challenges in the live events sector. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')Nexus Group appointed Eamonn Long as Chief Underwriting Officer for its Alternative Risk Transfer (ART) business, leveraging his 18 years of experience, including senior roles at Allianz and SCOR. This move supports Nexus's focus on structured re/insurance solutions following the launch of its ART unit in December 2024. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')Ecclesiastical Insurance appointed Neil McGeachie as UK Chief Operating Officer, bringing 30 years of experience from Aspen, Chubb, QBE, Lloyd’s, and Royal & Sun Alliance. McGeachie will focus on enhancing operational efficiency during the insurer's phase of ambitious growth under the Benefact Group. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')Richard Macnamara retired from West of England P&I Club after 43 years, having played a key role in establishing the Hong Kong office as a regional hub, which now generates 40% of the Club’s gross premium income. Macnamara's leadership significantly expanded the Club's presence in Asia. (Josh Recamara, 6/8/2025, Insurance Business, 'Insurance moves: Arch, Nexus, Ecclesiastical and West P&I')Lloyd’s appointed Stephane Flaquet as Chief Operating Officer, effective September 1, 2025. Flaquet, who brings extensive experience from Hiscox, where he served as Group Chief Operations and Technology Officer, has also held senior roles at American International Group and Capital One. At Lloyd’s, he will oversee operations, technology, data, and market infrastructure resilience, while leading the Blueprint Two modernisation program to drive efficiency and scalability across the market. (Kenneth Araullo, 5/8/2025, Insurance Business, 'Lloyd’s appoints new COO to lead modernisation and resilience')Howden has launched a US retail broking business, appointing Mike Parrish as CEO and Jim Hays as Vice Chairman of its parent company. Parrish, formerly Marsh’s Florida zone leader, brings extensive experience from his tenure at Marsh and Aon. Hays, known for founding Hays Group, which became the 22nd-largest US broker before its acquisition by Brown & Brown, adds significant leadership expertise. This move marks Howden's formal entry into the US retail market, despite facing a lawsuit from Marsh over alleged recruitment poaching, as the company aims to expand its American footprint amid ongoing legal disputes and industry scrutiny. (Matthew Sellers, 5/8/2025, Insurance Business, 'Howden announces US retail business despite Marsh lawsuit')Eddie Grant has been appointed as the disability ambassador for the insurance sector by the UK Minister for Social Security and Disability. A Non-Executive Director of the Personal Finance Society and Vice-President of the Insurance Institute of London, Grant brings extensive leadership experience to the role. He aims to drive accessibility improvements for disabled customers and employees, building on initiatives like the Access to Protection industry agreement and the Chartered Insurance Institute’s vulnerability roundtables. (Kenneth Araullo, 5/8/2025, Insurance Business, 'Eddie Grant named disability ambassador for insurance sector')H.W. Kaufman Group has announced the launch of RB Jones Global, an international MGA targeting credit, energy, and construction markets. Ed Kelly, formerly AIG’s Global Head of Credit Lines, will lead the business, while Helen Jones-Bak, with over 25 years of London market experience, joins as CFO. This move follows Kaufman’s recent restructuring to consolidate global operations and expand specialty underwriting capabilities. (Kenneth Araullo, 5/8/2025, Insurance Business, 'H.W. Kaufman Group launches RB Jones Global for worldwide MGA growth')Aspen Insurance Holdings has named Ryan Cushway as Head of International and UK Casualty Insurance, effective August 1, 2025. Cushway, with Aspen since 2017, will oversee UK and international casualty lines, including the environmental team led by Richard Spinks. Additionally, Leanne Bellows has been named Head of Excess Casualty – London & Lloyd’s Markets and will report directly to Cushway. (Josh Recamara, 5/8/2025, Insurance Business, 'Insurance moves: Aspen, HDI and DAC Beachcroft')HDI Global has appointed Nils Langrehr as Head of Power Underwriting within its energy & power unit. With nearly 14 years at Hannover Re, Langrehr brings expertise in traditional and renewable energy insurance. He will oversee underwriting for renewable and conventional power risks, supporting HDI Global’s strategy to aid clients in the energy transition. (Josh Recamara, 5/8/2025, Insurance Business, 'Insurance moves: Aspen, HDI and DAC Beachcroft')Gallagher has appointed Alistair Lester, formerly Aon’s global co-CEO of M&A and transactional solutions, as CEO of its private equity and M&A client practice. Lester, who also held roles at WTW, will lead transactional risks teams across the UK, Europe, and the Middle East, focusing on expanding services for M&A transactions. He will report to Michael Rea, CEO of Gallagher’s UK broking operations. (Josh Recamara, 4/8/2025, Insurance Business, 'Gallagher brings in CEO of key unit from Aon')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

Read Article

What does the OPRC review of the digital justice system mean for lawyers?

The UK legal landscape is undergoing a profound transformation, and the Online Procedure Rule Committee (OPRC) is a major part of it. Established under the Judicial Review and Courts Act 2022, the OPRC's mandate is to create rules for online court and tribunal proceedings across the civil, family, and tribunal jurisdictions.The OPRC aims to enhance the experience for online users by promoting an integrated digital system, alongside the strategic use of artificial intelligence. The potential for AI to improve the justice system, leading to swifter, fairer and more accessible opportunities is huge. A particular benefit is the potential to reduce court backlogs. According to Gov UK’s Justice in Numbers pocketbook, in the three months to March 2025, there were 344,994 magistrates' court disposals and 27,950 Crown Court disposals, with just 30% of Crown Court trials labelled as ‘cracked trials’ (Ministry of Justice: Justice in numbers pocketbook). Further, at the end of March 2025, the prison population was approximately 87,919. These numbers demonstrate the immense volume of cases that the justice system must handle. The move to a more efficient digital system is not a luxury; it's a necessity to manage this workload effectively.However, the changes are not just about digitising existing processes; it's about fundamentally reshaping the way justice is accessed and administered. The OPRC's review, particularly its recent ‘Inclusion framework and pre-action model’, signals a new era for legal practice. For lawyers, this presents a significant challenge and an unprecedented opportunity. The OPRC's mandate and visionThe OPRC's vision is to build an integrated digital justice system that is "accessible to everyone, easier for everyone to use, capable of delivering justice more quickly, and, of course, transparent and trusted” (Legal futures: OPRC consults on inclusion framework and pre-action model). This goal is being pursued through two key initiatives: an inclusion framework and a pre-action model.The inclusion framework sets out design principles and standards to ensure all users, especially those at risk of exclusion, can engage with digital justice services. It focuses on user-centered design, plain language, and robust data collection to measure inclusion outcomes. For lawyers, this means a new focus on accessibility. It's no longer enough to simply file a document online; the process itself must be understandable and navigable for a diverse range of clients, including those with limited digital literacy or disabilities. This will require law firms to re-evaluate their client communication strategies and potentially invest in new tools and training to ensure their services align with these new standards.The pre-action model, on the other hand, aims to standardise the landscape of online pre-court dispute resolution services. It “encourages providers to adopt and follow principles and standards in the pre-action space that are consistent with those applied to online court-based dispute resolution” (Legal futures: OPRC consults on inclusion framework and pre-action model). It outlines guidance for online legal information, advice, and dispute-resolution services to promote early, fair, and efficient resolution of disputes outside of court. The OPRC’s goal is to create a seamless, end-to-end digital journey, where data can be easily transferred from a pre-court online service into the court system if a dispute is not resolved. This shift places a new emphasis on the pre-action space. Lawyers will need to become experts in a new ecosystem of online dispute resolution platforms and services. Moving forward, they will be required to understand the rules and data standards that govern these platforms and be able to effectively guide clients through them.What does this mean for legal practice? The OPRC's work will have a multi-faceted impact on how lawyers practice law. The changes will affect everything from case management and client interaction to business models and professional development. We delve into some of the key implications and changes that lawyers need to be aware of in our analysis below.Navigating a new digital landscapeThe most immediate impact for lawyers is the need to understand and adapt to a new digital ecosystem. The OPRC is developing rules and guidance that will govern how online proceedings are conducted, so it will be essential for lawyers to be proactive in understanding these new rules. This will be “the first time the OPRC would set out the basic rules which would, in time, apply to all online proceedings” (Online Procedure Rule Committee: Minutes from May 12 2025 meeting).This is not just about using new software, it’s about embracing a new philosophy of justice delivery. A 2025 Ministry of Justice report highlighted the success of early digital adoption, with millions of digital transactions completed through various apps. These trends indicate that a significant portion of legal work is already moving online, and lawyers who resist this shift will be left behind. The report further noted that over 4.1 million cases have been processed digitally since April 2019, demonstrating the scale of the change.The rise of the "Pre-Action" specialistThe OPRC's focus on the pre-action space presents a unique opportunity for lawyers to develop new skills and solutions. With the goal of resolving disputes before they reach the courts, lawyers who can effectively navigate online dispute resolution (ODR) platforms and guide clients through pre-action protocols will have a distinct competitive advantage. This could lead to a rise in a new type of legal specialist: the digital dispute resolution practitioner. These lawyers would not only have expertise in a specific area of law but also in new technology and ODR processes.Rethinking the client relationshipThe OPRC's inclusion framework places a strong emphasis on user-centered design and accessibility. This means that lawyers must reconsider how they communicate with and serve their clients. With the days of legal jargon and complex paperwork numbered, the new digital justice system further promotes the use of plain language and the use of intuitive interfaces. Lawyers who can adapt their communication styles and provide clear, accessible guidance will be better positioned to serve a wider client base and build stronger relationships. This shift also presents an opportunity to streamline processes, automate routine tasks, and focus on higher-value advisory work.The role of Artificial Intelligence (AI)The OPRC's work is closely linked to the broader adoption of AI in the justice system. The government's ‘AI action plan for justice’ policy published in July 2025, details the plan to embed AI across justice services. The plan, developed in collaboration with the OPRC, aims to use AI to "[reduce] administrative burden with secure AI productivity tools including search, speech and document processing” and “[support] better decisions through predictive and risk-assessment models” (Gov.UK: AI action plan for justice).While the plan emphasises that the human element remains critical in all judicial work, lawyers should expect to see AI tools becoming more commonplace in their practice. These tools could automate document review, case summarisation, and other routine tasks, freeing up lawyers to focus on strategic and client-facing activities. Lawyers who embrace these technologies will be more efficient and productive, while those who resist are likely to find themselves at a disadvantage.The OPRC's work represents a pivotal movement for the legal profession. Its focus on an inclusive and integrated digital justice system will fundamentally alter the way lawyers operate. For law firms, this means a need to adapt and evolve, embracing new technologies and business models, and for lawyers a requirement to become proficient in a new, end-to-end digital ecosystem. The challenges are real, but the opportunities for those who are willing to innovate are even greater. The future of law is digital, and the OPRC is setting the rules for the road ahead.If you’re looking for support with your legal hiring strategy or for a new career opportunity, contact one of our legal specialists who will be happy to help. Sources:Gov.UK: AI action plan for justiceGov.UK: Digital justice system: inclusion framework and pre-action modelGov.UK: Modernising courts and tribunals: benefits of digital servicesLegal futures: OPRC consults on inclusion framework and pre-action modelMinistry of Justice: Justice in numbers pocketbookOnline Procedure Rule Committee: Minutes from May 12 2025 cent meeting

Read Article

IDEX Consulting and WPR form strategic merger to deliver change and transformation talent solutions

IDEX Consulting, a global talent and business growth consultancy, and WPR, a market-leading contract and interim talent provider, are pleased to announce a strategic merger. The merger will provide clients across technology change and finance change, two of the most in-demand areas in today’s market, with an enhanced suite of talent management and M&A solutions for their change and transformation needs.This partnership is a direct response to the evolving challenges faced by clients in the financial services and insurance sectors, such as major regulatory changes, technology innovations and broader business modernisation requirements. “We’re incredibly excited about our new partnership with WPR, which makes us well positioned to support clients through their most complex change and transformation initiatives. By bringing WPR's expertise into the fold, IDEX can now offer a specialised contract and permanent talent solution across technology change and finance change,” says Matt Green, CEO of IDEX Consulting. Noting the benefits for IDEX’s M&A clients, Matt adds, “After helping organisations execute strategic acquisitions, we can now also ensure they have the bench strength to deliver on post-deal synergies– a critical success factor in any M&A journey.” WPR’s reputation, built over more than a decade on strong values and a commitment to quality over quantity, has resulted in significant repeat business from clients such as Hiscox, Aspen and Beazley. The investment by IDEX provides them with a platform for further growth.“This is an exciting time for WPR. Partnering with IDEX provides us with the international reach our clients need to expand their business, especially with so many of our clients having a presence stateside,” says James Pepe, WPR Co-founder and Executive Director. Niall Wynne, WPR Co-founder and Executive Director adds: "Working alongside IDEX will enable us to provide our consultants with additional tools and resources, helping them to achieve more for our client base. We’ve always been committed to doing business the right way, building long lasting relationships that add tangible value and contribute to the success of our clients, and it was important to us that we found a partner who prioritised the same values.” This collaboration marks a significant milestone in both IDEX and WPR’s growth journey, enabling them to collectively deliver additional solutions for clients whilst paving the way for future partnerships with other high-performing firms who share the same values and ambition.For more information go to IDEX Consulting and WPR.

Read Article

The wealth tax uncertainty: impact for wealth managers and their clients

The potential introduction of a wealth tax in the UK, highlighted by ongoing discussions surrounding the Autumn Budget 2025, has created ripples across the financial services sector. Post the pandemic, the most disadvantaged groups saw their incomes drop by 7.5% in real terms, while the wealth of the richest fifth was estimated to have grown by 7.8% (Equality Trust: The scale of economic inequality in the UK). With the UK facing economic challenges and an estimated £2.7 trillion national debt, a wealth tax is being eyed as a potential solution to stabilise public finances. While no formal proposal exists, the idea is sparking widespread discussion.For wealth managers and their high-net-worth clients, this development brings both challenges and opportunities, requiring proactive planning and strategic adjustments. What is wealth tax? A wealth tax is a levy on an individual’s net assets rather than their annual income. It encompasses holdings like real estate, savings, investments, and personal property. Wealth taxes can be categorised into two primary forms:Annual wealth tax: A recurring charge on total wealth above a specific threshold.One-time wealth tax: A temporary measure to address extraordinary fiscal demands, often introduced during national crises. The debate over wealth taxes in the UK has been sparked by proposals such as a 2% yearly tax on wealth exceeding £10 million. This approach, according to recent studies, would affect only 0.04% of the population, an estimated 20,000 individuals, and could raise as much as £24 billion annually. While such a measure has its proponents, complexities around valuation, compliance, and administration make its potential implementation a polarising issue among policymakers.Political and economic context The UK’s financial landscape is marked by persistent economic uncertainty, compounded by post-Brexit trade dynamics, inflationary pressures, and government borrowing that reached its second-highest June figure since 1993. Against this backdrop, the Chancellor of the Exchequer, Rachel Reeves, faces calls to find ways to bolster the Treasury’s resources without increasing taxes on working individuals.Thus far, Reeves has not ruled out the possibility of introducing a wealth tax, though she has remained noncommittal. The Labour government previously pledged not to raise income tax, VAT, or national insurance contributions, creating pressure to explore alternative revenue streams such as taxing wealth. Campaigners emphasise that wealth inequality in the UK has steadily risen, with the number of billionaires steadily, underscoring a growing disparity between the ultra-rich and those struggling with rising cost of living expenses.Debates around wealth tax implementation are not limited to fairness. Concerns over administrative costs, valuation complexities, and behavioural reactions (such as capital flight) weigh heavily on policymakers' decisions, with arguments from both advocates and critics shaping public discourse. What does this mean for wealth managers?For those working across the Wealth Management sector the uncertainty surrounding a potential wealth tax introduces a set of challenges and opportunities that demand agility and foresight in client management.1. Spike in client enquiries and advisory needs Wealth managers are already observing an uptick in enquiries from clients concerned about potential changes in their tax liabilities. Questions typically centre around mitigating exposure to new levies and making strategic adjustments to personal and corporate holdings. This creates an urgent need for financial advisors to not only reassure their clients but also offer tailored strategies to align portfolios with potential regulatory shifts. 2. Capital flight concerns One of the primary fears associated with a wealth tax is the possibility of capital flight. Affluent individuals may consider transferring assets or relocating to jurisdictions with more favourable tax regimes. Though such behaviours are often less widespread than anticipated, with studies noting that “just 0.01% of the richest households relocated after wealth tax reforms were introduced in Norway, Sweden and Denmark” (Tax Justice UK: How would a wealth tax work in practice?). These concerns often influence clients’ decisions, making it even more important for wealth managers to offer strategic guidance grounded in facts.3. Investment strategies Uncertainty about future policy changes may lead clients to adopt more cautious investment tactics. Wealth managers must explore options such as higher liquidity allocations, tax-efficient investments, and diversifying holdings to hedge against potential market or legislative volatility. Additionally, the prospect of increased taxes on traditional assets could accelerate interest in alternative investments, such as private equity or assets held overseas. It’s imperative that wealth managers stay ahead of global market trends, diversification opportunities across asset classes and geographies, and tax efficient strategies.What does this mean for clients?The ramifications of a potential wealth tax extend beyond the advisory realm, influencing clients’ financial behaviours and planning priorities. 1. Potential knee jerk responses The spectre of a wealth tax may prompt some clients to consider pre-emptive measures such as estate planning, intergenerational wealth transfers, and charitable contributions. However, hurried actions could backfire; for instance, early liquidation of assets to avoid taxation could trigger additional costs like capital gains tax, undermining the intended objectives. The Tax Justice Network have suggested that for each percentage of wealth tax, reported wealth could fall by 14% due to behavioural responses like migration and shifting assets (Tax Policy Associates: Number of OECD countries levying individual net wealth taxes).2. Asset reallocation Clients concerned about potential tax implications might look to reallocate assets into categories that are traditionally exempt from wealth taxes or are harder to value. Assets like pensions, offshore accounts, or complex trusts may become more attractive. However, these strategies could draw scrutiny from regulators, emphasising the need for compliance and cautious navigation of legal frameworks.3. Intensified tax planning While annual wealth taxes have never been implemented in the UK, existing measures like inheritance tax (IHT), capital gains tax (CGT), and council tax already contribute to the taxation of accumulated wealth. Faced with the possibility of additional tax burdens, many high-net-worth individuals are likely to explore in-depth tax planning solutions. Wealth managers will need to collaborate with tax specialists to ensure robust strategies that address both compliance and optimisation.A proactive approach For financial advisors and wealth managers, the key to navigating these turbulent times lies in a proactive and strategic approach. This includes:Scenario planning: Preparing for various outcomes based on potential tax structures and thresholds, while providing clients with actionable strategies for each scenario.Effective and consistent communication: Building trust through consistent, transparent updates about regulatory developments and their implications.Leveraging technology: Utilising advanced data analytics, compliance tools, and fintech platforms to optimise portfolio management and risk assessment.By taking a proactive stance, financial advisors can mitigate fears, provide clarity, and position themselves as indispensable partners to their clients.Maintaining focus on clarity, compliance, and adaptability will ensure resilience in the face of potential changes to the UK’s wealth taxation landscape.If you're looking for further intel on the market, support to find top talent or for a new career opportunity contact one of our financial service consultants.Resources DS Burge & Co: What is a wealth tax? Labour’s potential proposal explainedEquality Trust: The scale of economic inequality in the UKTax Justice UK: How would a wealth tax work in practice?Tax Policy Associates: Number of OECD countries levying individual net wealth taxesPie: Wealth tax in the UK, what it might look like

Read Article

General Insurance newsletter Friday 1st August 2025

Insurance NewsWhat do the UK’s Captive insurance reforms mean for the market? - The UK government’s announcement of a dedicated framework for captive insurance is causing ripples across the financial and insurance sector. Will this boost the UK’s competitiveness or lead to increased cost and risk? Our article explores what these reforms, including faster authorisation and lighter regulation, could mean for your business. (IDEX Consulting news, 'What do the UK’s Captive insurance reforms mean for the market?')The AI transformation: How to bring your team on the journey - Building successful AI adoption hinges on team engagement and buy-in. Our experts share actionable strategies for a collaborative approach, moving from resistance to success. Watch our video to learn how to lead your teams on the AI journey. (IDEX Consulting news, 'The AI transformation: How to bring your team on the journey')MGA outlook: an opportunity 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 saturated landscape. (IDEX Consulting news, 'MGA outlook: an opportunity for insurers')UK and US insurance regulatory reforms: what you need to know - For UK and US insurers, navigating a complex regulatory landscape is crucial. Our article provides essential insight on the changing regulatory market, from climate risk to AI, helping your business proactively adapt to new standards in an increasingly complex regulatory environment. (IDEX Consulting news, 'UK insurance regulatory reforms: what you need to know')AXA reported a 7% increase in gross written premiums for H1 2025, driven by growth in property & casualty (+6%), life & health (+8%), and asset management (+4%), alongside strategic initiatives like reinsurance integration and the acquisition of a 51% stake in Prima, an Italian digital insurer. (Kenneth Araullo, 1/8/2025, Insurance Business, 'AXA grows premiums in H1 amid P&C and life insurance momentum')Arthur J. Gallagher reported a 23% rise in adjusted EBITDAC to $1.01 billion for Q2 2025, driven by 16% brokerage revenue growth, 5.4% organic growth, and nine acquisitions, while progressing on its $13.45 billion AssuredPartners acquisition expected to close in Q3 2025. (Josh Recamara, 1/8/2025, Insurance Business, 'Arthur J. Gallagher reports strong Q2 results')UK Insurance Premium Tax (IPT) receipts rose 9% to £8.88 billion in 2024-2025, according to HMRC, driven by increased demand for private health insurance amid NHS access challenges, with calls for targeted IPT exemptions to improve affordability and support public services. (Josh Recamara, 1/8/2025, Insurance Business, 'UK insurance premium tax receipts rise to £8.88 billion')The UK P&I Club launched "UK Fixed," a fixed premium P&I product for smaller vessels, following the integration of Thomas Miller Specialty Marine, aiming to expand its market share and provide predictable pricing for operators of offshore support ships, tugs, and inland watercraft. (Josh Recamara, 1/8/2025, Insurance Business, 'UK P&I Club expands fixed premium offering')WTW reported 5% organic revenue growth in Q2 2025, driven by strong performance in its risk and broking segment, which saw a 7% revenue increase to $1.05 billion. Overall revenue was $2.26 billion, slightly down from $2.27 billion in Q2 2024 due to the sale of TRANZACT. Net income rose significantly to $332 million, up from $142 million a year earlier. The company continues to focus on its "Grow, Simplify & Transform" initiative, targeting $450 million in cost savings. (Kenneth Araullo, 31/7/2025, Insurance Business, 'WTW posts organic revenue growth in Q2 amid strong risk & broking results')Arch Capital Group reported Q2 2025 net income of $1.2 billion, down from $1.3 billion in 2024. Gross premiums in the insurance segment rose 27.5%, driven by the MCE acquisition, while the reinsurance segment saw an 8.7% increase in gross premiums. The underwriting expense ratio improved to 33.6%, supported by scale efficiencies. Despite a slight profit dip, Arch achieved strong premium growth and maintained a 22.9% return on equity. (Rod Bolivar, 31/7/2025, Insurance Business, 'Arch Capital Group's Q2 profit slips to US$1.2 billion')Intact Financial, RSA's parent company, reported a 4% rise in Q2 2025 premiums, driven by strong personal lines growth in Canada, including an 11% increase in personal auto premiums. The combined ratio improved to 86.1%, while net operating income reached $935 million. UK and Ireland premiums fell 5% due to portfolio adjustments, though underlying growth was 3%. The company anticipates high single-digit premium growth in personal lines over the next year. (Rod Bolivar, 31/7/2025, Insurance Business, 'RSA parent firm reports 4% Q2 premium growth')Avatar MGA has secured Lloyd’s coverholder approval and FCA authorisation, allowing it to begin binding US mid-market property risks from August 1, 2025. Backed by three Lloyd’s syndicates, Aon, and Santam, Avatar will underwrite properties with insured values of $25 million to $1 billion using a tech-driven underwriting model. This move supports Santam’s international growth and diversification goals. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Avatar MGA secures Lloyd’s approval, begins binding US property risks')Five firms were granted Chartered status by the CII in Q2 2025, recognising their commitment to professional and ethical standards. These include Morgan Williams & Co, M4 Financial Group, The Islands’ Insurance Brokers, Hepburns Insurance, and M.J. Touzel (Insurance Brokers) Limited, trading as Islands Insurance. (Josh Recamara, 31/7/2025, Insurance Business, 'Five firms granted Chartered status by the CII')Markel Group reported Q2 2025 revenues of $4.6 billion, up from $3.7 billion in 2024, driven by insurance revenues of $2.23 billion and $580.2 million in investment gains. Operating income rose to $1.1 billion, while the combined ratio increased to 96.9% due to adverse development in run-off lines. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Markel Group Q2 revenues climb as investment gains rebound')Everest Group reported Q2 2025 net income of $680 million, with a 14.8% annualised shareholder return. Reinsurance grew 1.6%, while insurance declined 3.3%. The combined ratio improved to 90.4%, driven by favourable reserve development and reduced catastrophe losses. (Kenneth Araullo, 31/7/2025, Insurance Business, 'Everest posts net income recovery in Q2 as reinsurance lifts performance')Allianz UK has partnered with Sainsbury’s Bank to provide home and motor insurance starting November 1, 2025. This agreement aligns with Sainsbury’s shift to a brand-partner model and expands Allianz’s reach in the UK retail market. (Josh Recamara, 31/7/2025, Insurance Business, 'Allianz UK announces Sainsbury's Bank agreement')AXIS Capital reported Q2 2025 operating income of $261 million, driven by a 7% rise in insurance premiums, offsetting a 7% decline in reinsurance. Gross premiums grew 3% to $2.5 billion, while net income reached $216 million. (Kenneth Araullo, 30/7/2025, Insurance Business, 'AXIS Q2 operating income hits US$261 million as insurance segment drives growth')Aon’s Q2 2025 Global Insurance Market Insights report highlights a temporary window of lower rates and improved terms for insurance buyers, driven by increased market capacity. However, systemic risks like geopolitical tensions, climate events, and cyber threats could quickly reverse these conditions, making this soft market phase potentially short-lived. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Insurance buyers benefit from lower rates as Aon flags brief market window')MAPFRE’s report, 'The Future of Interaction: The Role of Interaction in a World Shaped by Intelligent Agents', explores how AI could transform insurance by 2035. It outlines four scenarios, ranging from limited digital progress to universal access to intelligent systems, highlighting trends like automation, seamless interactions, and rising data security expectations. Early adopters of AI in underwriting, claims, and customer service may gain a competitive edge. (Josh Recamara, 30/7/2025, Insurance Business, 'How AI could reshape insurance by 2035')Willis’ Natural Catastrophe Review predicts global insured losses from natural disasters in 2025 will exceed $100 billion for the seventh consecutive year. Major events like the $40 billion Los Angeles wildfires and record-breaking tornadoes in the US have already strained insurers, with an active hurricane season expected to add further pressure. (Mav Rodriguez, 29/7/2025, Insurance Business, 'Catastrophe costs show no sign of slowing in 2025 – Willis')Brown & Brown reported a 9.1% year-over-year revenue increase in Q2 2025, reaching $1.3 billion, driven by an 8.2% rise in commissions and fees and a 3.6% organic revenue growth. Adjusted EBITDAC rose 12.1% to $471 million, with a margin improvement to 36.7%. (Josh Recamara, 29/7/2025, Insurance Business, 'Brown & Brown reports strong Q2 revenue growth')The insurance industry continues to grapple with the fallout from the seizure of over 400 leased aircraft in Russia, with claims under hull war policies exceeding $3 billion. A UK High Court ruling confirmed coverage but emphasised aggregate limits, leading insurers to tighten terms and reassess risk models. According to WTW, the judgment has significant implications for policy response and market practices, with reinsurers reviewing exposures and potential disputes over loss definitions and aggregation clauses. WTW also noted broader underwriting caution across aviation classes, as further legal cases could shape recovery outcomes and market dynamics. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance industry faces fallout from Russian aircraft seizures')QBE has partnered with Matrix iQ to provide fleet clients with real-time insights into driver behaviour, claims trends, and operational risks. The platform integrates with telematics systems, consolidating data into a dashboard that includes ESG metrics for tracking emissions and sustainability. Jon Dye, QBE Europe’s motor underwriting director, highlighted the collaboration’s role in enhancing fleet management and aligning with QBE’s broader service goals. The system is being rolled out to select clients, with wider access planned soon. (Josh Recamara, 29/7/2025, Insurance Business, 'QBE partners up to enhance fleet risk insights')Aon reported $4.2 billion in Q2 2025 revenue, an 11% year-over-year increase driven by 6% organic growth and contributions from its NFP acquisition. Risk Capital revenue rose 8% to $2.9 billion, while Human Capital revenue grew 15% to $1.3 billion. CEO Greg Case highlighted strong client demand for advisory services amid a complex risk landscape. The NFP acquisition, completed in April 2024, has bolstered Aon’s middle-market presence and is expected to generate over $2.8 billion in value. (Kenneth Araullo, 28/7/2025, Insurance Business, 'Aon Q2 revenue climbs with NFP deal cited as a major booster')Branko Bjelobaba, a compliance consultant and industry advocate with nearly 40 years in insurance, warns the UK sector faces a talent crisis without better engagement with young people. With over a quarter of employees aged 50+, the industry risks a skills gap. Bjelobaba highlights its failure to promote itself effectively, noting only 11% of employees are aged 20-30. He calls for coordinated outreach, financial literacy education, and modernised messaging to attract fresh talent and secure the sector's future. (Bryony Garlick, 28/7/2025, Insurance Business, 'Can UK insurance survive without young talent?')BIBA CEO Graeme Trudgill visited Nigeria to strengthen ties with its growing insurance market. He met with key industry bodies to discuss broker development, regulation, and innovation, highlighting collaboration opportunities in a market with under 1% insurance penetration. (Josh Recamara, 28/7/2025, Insurance Business, 'BIBA CEO visits Nigeria to deepen ties with growing insurance market')Mergers & AcquisitionsVerisk has acquired AccuLynx, a SaaS provider for roofing contractors, in a $2.35 billion deal to enhance its insurance claims and restoration network. The acquisition, expected to close in Q3 2025, will integrate AccuLynx’s tools into Verisk’s Property Estimating Solutions. Verisk also reported Q2 revenue growth of 7.8% to $773 million, with adjusted EBITDA rising 11.9% to $445 million. (Rod Bolivar, 31/7/2025, Insurance Business, 'Verisk acquires roofing software firm AccuLynx amid strong Q2 results')MoversLiberty Specialty Markets has bolstered its energy division with three key hires: Alex Nelson, previously leading Chaucer Group’s onshore energy portfolio, joins as Underwriting Manager for power and renewables; Andrea Ciraci, with nine years at AXA and AXA XL underwriting power, renewables, and UK nuclear portfolios, becomes a Senior Underwriter; and Oliver Prout, with seven years of London market experience specialising in renewable energy contracts at Chaucer, also joins as a Senior Underwriter. These appointments aim to expand its renewables portfolio, including wind, solar, and battery storage projects. (Kenneth Araullo, 30/7/2025, Insurance Business, 'Liberty Specialty Markets boosts energy team with three key renewables hires')Starting November 1, Dennis Siebrasse will take on the role of Head of Liability Underwriting Europe at HDI Global. Previously Head of Technical & Strategic Services – long tail, Siebrasse will now oversee underwriting activities across HDI Global’s core European markets. Dr Pascal Nef, formerly leading Swiss Re’s Risk Consulting & Analytics team for EMEA, will succeed Siebrasse, leveraging over a decade of experience in insurance analytics. Since March, Mark Appleton has managed HDI Global’s local liability units on an interim basis, contributing to the development of the company’s liability portfolio. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')Sarah Penny has been named Client Services Director for Gallagher Bassett’s UK operations, reporting to Chief Operating Officer John Fearn. In her new role, Penny will manage corporate and carrier client relationships while collaborating with the business development team to improve client onboarding and enhance services. With 15 years of insurance experience, Penny has held roles at Previsico, Liberty Specialty Markets, Pen Underwriting, Ecclesiastical, and Allianz Insurance, progressing from claims handler to management positions in relationship management, business development, and partnerships. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')Towergate Employee Benefits has named Roberto Russo as Global Benefits Management – Principal Consultant. Reporting to Sarah Dennis, Russo will handle client relationships, business development, and team support. With nine years’ experience at Generali and MAXIS, he brings expertise in global benefits strategies and financing solutions. Russo will also mentor team members and support client growth initiatives. (Kenneth Araullo, 29/7/2025, Insurance Business, 'Insurance moves: HDI Global, Gallagher Bassett, Towergate Employee Benefits')Arch Insurance International has promoted David Maher to Chief Information Officer (CIO), effective immediately. Maher will lead the company’s technology strategy and infrastructure to enhance operational efficiency and scalability. Joining Arch in 2024 as International Head of Delivery, he previously held senior technology roles at Lloyds Banking Group, Bank of America Merrill Lynch, Direct Line Group, WTW, and UBS, bringing over 25 years of financial services technology experience. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')The Financial Conduct Authority has named Liam Coleman as interim Chair of the Financial Ombudsman Service, effective October 10, 2025. Succeeding Baroness Zahida Mazoor, Coleman brings over 30 years of experience, including roles as CEO of The Co-operative Bank and senior treasury positions at RBS and Nationwide. He also chairs boards such as Great Western Hospitals NHS Foundation Trust and London and Quadrant Housing Trust. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')Victor Insurance UK has promoted Paula Saxon to UK Agriculture Product Lead, overseeing underwriting strategy, profitability, and growth for the agriculture portfolio. She succeeds Sarah Robinson, who moved to the US to support Victor US Specialty’s agriculture program. With over 14 years of experience in agricultural insurance and broking, Saxon joined Victor in 2022 after leading farm underwriting operations at AIUA/Geo Agriculture. (Josh Recamara, 29/7/2025, Insurance Business, 'Insurance moves: FCA, Victor Insurance and Arch Insurance')Volante Global has appointed former StarStone CEO Demian Smith as its new Chief Executive Officer, pending regulatory approval. With 30 years of experience in broking and underwriting, Smith previously held leadership roles at Guy Carpenter and StarStone Group. He succeeds interim CEO Martin Reith, who will remain as Chairman. Smith’s appointment aligns with Volante’s expansion efforts, including the launch of its treaty reinsurance platform, Volante Re, and recent leadership additions to strengthen its MGA and syndicate operations. (Kenneth Araullo, 28/7/2025, Insurance Business, 'Former StarStone CEO Demian Smith to head Volante Global')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting

Read Article