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General Insurance newsletter Friday 28th March 2025

Insurance NewsSmart hiring: How employers can master the interview process - IDEX Consulting share key strategies to help employees maximise interviews to reduce the risk of mid-hires and on-boarding challenges. Combining traditional methods with AI powered tools and cognitive assessments increases accuracy and speeds up the process. Access more advice in this in-depth insights piece. (IDEX Consulting news, 'Smart hiring: How employers can master the interview process')M&A resource centre - Access advice from tax, legal and buy-and-sell experts on how to maximise the value of your business, the key things you need to consider when buying or selling a business and how to make the process as tax efficient as possible. Don’t miss out on these key insights to grow your business. (IDEX Consulting news, 'M&A resource centre')Looking for a new career opportunity? Check out our latest insurance jobs - IDEX Consulting are partnering with some leading firms across the General Insurance sector nationally and internationally, who are building out their teams and capabilities. Don’t wait for tomorrow to realise your career ambitions. (IDEX Consulting news, 'Looking for a new career opportunity? Check out our latest insurance jobs')How is climate change impacting insurers? - Climate change is increasing natural disaster costs, driving up premiums, and leaving some regions uninsurable. Insurers must adapt by assessing long-term risks, investing in emerging technologies, and creating innovative products. There are opportunities in addressing the growing insurance gap, with proactive insurers gaining a competitive edge by collaborating with specialists and working towards net-zero goals. (IDEX Consulting news, 'How is climate change impacting insurers? Find out the impact of climate change on insurers')The Ardonagh Group has launched Ardonagh Intelligence to enhance data capabilities using robotics, machine learning, and analytics. CEO David Ross said it strengthens the firm's ability to manage $18 billion in GWP. The division integrates insights from Ardonagh Portfolio Solutions and the Ardonagh Analytics Lab, which employs over 100 data experts in Ireland. (Josh Recamara, 27/3/2025, Insurance Business, 'Ardonagh Group opens new robotics division')In further news...The Ardonagh Group reported $1.99 billion in income for 2024, up 24%, with adjusted earnings rising 31% to $683 million. A funding round led by Stone Point Capital confirmed a $14 billion valuation. Pro forma income hit $2.5 billion, factoring in acquisitions and cost savings. Organic income grew 8%, with 68 acquisitions, including the PSC Insurance Group buyout. (Josh Recamara, 27/3/2025, Insurance Business, 'Ardonagh Group posts 24% increase in income')The Swedish Club posted a $34 million profit for 2024, with free reserves rising to $217 million. Strong investment returns, market gains, and higher interest rates drove growth. Underwriting improved, with a 98% combined ratio, while a 5% general premium increase was implemented. Member retention held steady at 97%. (Kenneth Araullo, 27/3/2025, Insurance Business, 'The Swedish Club posts higher profit, free reserves in 2024')The Lloyd’s Market Association (LMA) has launched a claims awards scheme to recognise excellence within the market, aiming to strengthen the talent pipeline in claims. The awards will feature seven categories and culminate in a May 15, 2025, presentation. Janine Powell, LMA Claims Director, highlighted ongoing challenges in attracting and retaining talent due to external competition and changing workforce demographics. (Josh Recamara, 27/3/2025, Insurance Business, 'LMA unveils new claims awards scheme')Covéa Insurance recently concluded broker roadshows to introduce its SME Experts initiative, aimed at enhancing regional support and streamlining processes. The initiative includes updates to commercial property, fleet, and trades policies, with a focus on improved electronic trading and simplified renewals. Nearly 300 brokers attended sessions across the country, learning about Covéa’s plans for growth in commercial lines. (Kenneth Araullo, 26/3/2025, Insurance Business, 'Covéa rolls out SME experts proposition with focus on broker partnerships')Ascot’s Lloyd’s Syndicate 1414 reported a 2024 profit of $185.1 million, down from $252.6 million, as heavy catastrophe losses— including the Baltimore bridge collapse and multiple storms—drove a higher loss ratio and worsened the combined ratio to 91.6; GWP rose 8% to $1.94 billion, supported by rate increases and new business. (Josh Recamara, 25/3/2025, Insurance Business, 'Ascot's Lloyd's Syndicate 1414 announces profit decline in 2024')HDI Global SE reported record 2024 insurance revenue of €10 billion, with a combined ratio of 90.0% and EBIT up to €702 million; growth was driven by new business and pricing adjustments, while large losses rose but stayed below budget amid improved frequency loss ratios. (Kenneth Araullo, 25/3/2025, Insurance Business, 'HDI Global SE hits insurance revenue milestone in 2024')Momentum Broker Solutions reported its 14th consecutive year of growth for 2024, with gross written premium surpassing £97 million, a 21% increase, and operating profit up 40%; the company added 14 broker partners and its 100th appointed representative, while also expanding its team by 17. Managing director Howard Pepper attributed the success to strong partnerships and navigating market challenges. (Josh Recamara, 25/3/2025, Insurance Business, 'Momentum sees 14th consecutive year of growth')Travelers Europe has been named a 5-Star cyber insurance provider for the second consecutive year, with Chris McMurray attributing success to tailored solutions for all business sizes and the Corvus acquisition, which strengthened underwriting and risk assessment tools. (Insurance Business, 24/3/2025, 'Travelers Europe named 5-Star cyber insurance provider again')Mergers and AcquisitionsHF has secured regulatory approval for a minority stake sale to private equity firm CBPE, finalising a deal first announced in December 2024. The investment will support HF's expansion and enhance its position as a technology-driven legal services provider. HF, structured as a limited company with an employee share scheme, aims to preserve focus on client service, innovation, and employee development, while accelerating AI-driven legal solutions through its subsidiary, HighFive. CEO Ronan McCann said the deal will accelerate their growth efforts. (Josh Recamara, 27/3/2025, Insurance Business, 'HF completes investment deal with CBPE')Ardonagh Group is reportedly close to raising up to $2.5 billion from investors in an oversubscribed process expected to complete this summer, supporting growth initiatives and potential acquisitions; the fundraising follows Stone Point Capital’s recent investment valuing the London-based broker at around $14 billion, Bloomberg reported. (Josh Recamara, 26/3/2025, Insurance Business, 'Ardonagh Group close to securing $2.5 billion in investment - report')BEAM Insurance Solutions has acquired KDH Insurance Brokers, adding £4 million GWP and strengthening its Midlands presence as it targets £22 million GWP by year-end; the deal, backed by The Broker Investment Group, aligns with BEAM’s regional growth strategy and retains KDH’s six staff in Shropshire. (Josh Recamara, 26/3/2025, Insurance Business, 'BEAM Insurance acquires KDH Insurance Brokers')Howden has agreed to acquire UK-based Barnett Waddingham, enhancing its pensions advisory capabilities and supporting international growth in employee benefits; the deal will double Howden’s global employee benefits business, with a combined workforce of 4,000 and revenues approaching £500 million, serving clients from multinational corporations to SMEs. (Kenneth Araullo, 25/3/2025, Insurance Business, 'Howden to acquire Barnett Waddingham in major employee benefits expansion')Access Insurance, part of the Benefact Group, has acquired Derbyshire-based Ladbrook Insurance, marking its fourth acquisition as it expands in the UK charity insurance sector; Simon Hickman, CEO and Founder of Access Insurance, called the acquisition a key milestone in their growth strategy, noting openness to further opportunities that align with their third-sector expertise. (Josh Recamara, 25/3/2025, Insurance Business, 'Access Insurance reveals Ladbrook acquisition')MoversAllianz UK has appointed Adam Lloyd as Chief Underwriting Officer and Claire Buck as Chief Technical Officer and will join the commercial division on April 14, reporting to Phuong Ly, incoming MD for Allianz Commercial UK. Lloyd has 15+ years at Allianz Australia in underwriting and sales, while Buck brings nearly 20 years at Allianz UK across SME/digital, underwriting, and business architecture. (Jonalyn Cueto, 28/3/2025, Insurance Business, 'Allianz UK strengthens commercial division with two new appointments')Kroll, a global financial and risk advisory firm, has appointed Lorna Harrington as UK Managing Director to address underinsurance in heritage real estate and Masha Lewis as APAC Managing Director to lead regional FAAS expansion. Harrington, Co-Founder of Barrett Corp & Harrington, brings experience from Aon, Chubb, and AIG, while Lewis previously developed PwC Australia’s asset valuation practice. (Jonalyn Cueto, 28/3/2025, Insurance Business, 'Kroll enhances fixed asset advisory across key markets')James Hallam has expanded into Edinburgh with the appointment of Jamie Johnstone as Client Director, working alongside Doug Smith and Ritchie Sherret to revive the Corporate Risk brand; Johnstone brings 14 years of London market experience at Price Forbes and Gallagher, while Smith and Sherret add senior industry expertise as the team builds James Hallam’s Scottish presence. (Josh Recamara, 26/3/2025, Insurance Business, 'James Hallam appoints Jamie Johnstone as client director in Scotland')Argo Group has appointed Chris Donahue as CEO, succeeding Jessica Buss; Donahue joined as CFO in November 2023, while David Chan, formerly Chief Accounting Officer, steps up as CFO, bringing experience from AmTrust, Moody’s, and PwC. (Josh Recamara, 25/3/2025, Insurance Business, 'Argo Group names new chief executive officer')Aqueous Underwriting has promoted Dan Dorrell to Head of Property & Casualty, a new role focused on driving product innovation and tailored P&C offerings for the MGA’s core sectors, including food, hospitality, leisure, and hotels; Dorrell, previously Trading & Distribution Manager at Aqueous, brings experience from senior roles at Towergate and Arthur J. Gallagher. (Kenneth Araullo, 25/3/2025, Insurance Business, 'Insurance hires: Aqueous, Touchstone, Argenta')Mike Patston has been appointed Managing Director of Touchstone Underwriting, a Seventeen Group subsidiary, following Alan Roe’s retirement; Patston, who joined in 2015 and was Deputy MD from January 2024, will lead the business’s growth strategy. Roe, who guided Touchstone’s evolution into a diverse MGA over 15 years, expressed support for Patston’s appointment. (Kenneth Araullo, 25/3/2025, Insurance Business, 'Insurance hires: Aqueous, Touchstone, Argenta')Argenta has appointed Inga Brand as unit Head of Energy Liability, responsible for growing the portfolio and aligning it with the company’s strategy; Brand, who previously co-founded White Bear Managers' energy liability offering, has held senior roles at Liberty Specialty Markets, Aspen Insurance, and Syndicate 1861. (Kenneth Araullo, 25/3/2025, Insurance Business, 'Insurance hires: Aqueous, Touchstone, Argenta')Pine Walk Capital, part of The Fidelis Partnership, has launched Sevanta Specialty Liability, a new international casualty MGA focused on niche specialty risks; led by Jon Hiller, former Head of International Casualty at Sompo International, and George Hutton, previously a Portfolio Manager in Sompo’s wholesale and specialty casualty unit, the MGA supports global primary and excess business and aligns with TFP’s strategy to expand specialty liability capabilities. (Josh Recamara, 25/3/2025, Insurance Business, 'Pine Walk launches new international casualty MGA')Marsh has appointed Adam Russell as Head of Global Wholesale, overseeing the firm’s global broking operations and portfolio solutions; Russell, who joined Marsh in 2014, has held senior roles, including leading Marsh’s international wholesale placement in Singapore and heading the UK Portfolio Solutions and Digital Placement teams. He will focus on advancing wholesale and facultative business. Charlotte Meah, who joined Marsh in 2013 and most recently served as Chief of Staff for Marsh Specialty & Global Placement, will succeed him as Head of Strategy, global placement. (Kenneth Araullo, 24/3/2025, Insurance Business, 'Marsh promotes Adam Russell to global wholesale chief')Markel has strengthened its wholesale claims team with key appointments. Dan Thomas joins as Marine Technical Claims Lead, bringing over 20 years of experience from roles at Helvetia and QBE. Debbie Larkin has been promoted to Claims Manager – energy, liability, and terrorism, with 15 years of legal experience advising carriers. Rachel Tighe, a qualified Solicitor with 14 years in professional indemnity, is now Claims Manager – PI, having progressed through Markel’s claims roles. Natalie Myhill, promoted to Claims Manager – financial institutions, joined Markel in 2020, advancing from Senior Claims Adjuster. Both Tighe and Myhill co-founded ‘Mentoring the Market,’ a professional development initiative. (Kenneth Araullo, 24/3/2025, Insurance Business, 'Markel expands wholesale claims team with key promotions')Banco Santander has appointed Peter Huber as Global Head of Insurance, bringing 20+ years of experience, including his role as Director of Insurance at Wefox; he will report to Javier Garcia Carranza and also serve as Vice Chairman on Santander’s board. (Josh Recamara, 24/3/2025, Insurance Business, 'Santander appoints new global head of insurance')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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Smart hiring: How employers can master the interview process

In today's competitive talent landscape, interviews remain the cornerstone of successful hiring decisions, yet many employers fail to extract maximum value from them. Research shows that employers who employ structured interview processes and behavioural interview techniques can significantly improve the quality of the hire, and experience reductions in turnover. Traditional interview methods are falling short, costing employers a substantial loss. Data from the Recruitment and Employment Confederation (REC) highlight that “a poor hire at mid-manager level with a salary of £42,000 can cost a business more than £132,000”, with “four in ten employers (39 per cent) [admitting] that the interviewing and assessment skills of their staff should be improved” (REC: Hiring mistakes are costing UK businesses billions each year). Additionally, the Recruitment Employment Confederation also report that “around 85 per cent of HR decision-makers admit their organisation has made a bad hire” (REC: Hiring mistakes are costing UK businesses billions each year). On a global scale, in some cases there appears to be a lack of investment and training to improve interview techniques, with many employers not mandating it. According to Russ Riendeau, Senior Partner and Chief Behavioural scientist with New Frontier Search Company, “The lack of interview training for hiring managers in America has been the number-one assassin of great business strategic plans over the past 35 years or more, yet rarely discussed as a critical missing piece” (Hunt Scanlon Media: Lack of interview skills).Unfortunately biases still exist throughout the interview process. A survey conducted by Muse, showed that women continue to experience gender bias during the interview process, in fact “42% of women said they had personally experienced gender-biased or inappropriate questions during a job interview” and “when there was only one woman in a pool of four finalists for a job, the odds of the woman being hired were statistically zero” (Forbes: How to reduced hiring bias against women). Odds increased when there were at least two women in the final selection. When considering discrimination biases more closely, a poll by the American Staffing Association showed that “74 of Hispanic Americans feel the need to modify their appearance before job interviews, compared to 65% of white candidates” (American Staffing Association: Vast majority of Americans prefer in-person job interviews).With many employers conducting interviews in the same way they have done for years, it’s crucial that businesses take the time to review their practices and invest in more structured approaches to enhance their chances of a long-term good hire. Below we explore some strategies and tactics to help employers revolutionise their interview processes. Use a structured behavioural frameworkEmployers who adopt a competency-based approach to interviews are 86% more likely to make successful hires according to research published in the Journal of Applied Psychology (American Psychological Association: Journal of applied psychology). These frameworks help to evaluate professionals against specific job-relevant behaviours rather than relying on gut feelings.Using pre-defined questions provides people with the same opportunity to demonstrate their skills, knowledge and suitability for the role.Multi-method assessment integrationThe most effective hiring processes combine traditional interviews with job-specific work simulations and cognitive assessments. According to Schmidt and Hunter's landmark meta-analysis, this combined approach can improve hiring decision accuracy by 54% compared to unstructured interviews alone (Research Gate: The validity and utility of selection methods in personnel psychology).Many leading organisations incorporate technical challenges, cultural fit assessments, and structured behavioural questions throughout the hiring process, which helps to avoid mis-hires and poor decisions.Diverse interview panels Research by McKinsey shows that diverse interview panels using standardized evaluation criteria help to reduce unconscious bias by under 50% and significantly improves candidate selection (McKinsey: Attracting and retaining the right talent).Evidence shows that when interviews are conducted by a range of people from diverse backgrounds, cultures and levels of seniority individual biases are often cancelled out, helping to provide a more thoughtful and thorough consideration of each candidate, resulting in better hiring outcomes. Use technology and AI to optimise interviews AI-powered hiring tools are reshaping how employers prepare for interviews and evaluate candidates. Research by Gartner highlights that interview intelligence platforms that analyse language patterns and response quality have significantly grown in market adoption since 2022 (Gartner: HR technology imperatives).Companies using AI interview preparation tools report higher interviewer confidence and better candidate experience scores, as well as faster screening processes.Active listening and observationIt might sound easier than said and done but active listening and observation is key during the interview process. It’s essential for employers to pay particular attention to:How people articulate their thoughts and experiencesBody language and non-verbal cuesQuestions people ask about the role and companyWhether there is evidence that preparation and research has been conducted in advance How people respond under pressure or to unexpected questionsA professional’s general view of the market and geo-political climate, and whether they keep up to date with trends and developmentsViews on technology and AI developments which is key to all business practice for the future Key tips for employers We recommend that all employers should adopt the following steps during the interview process:Conduct a thorough job analysis to identify predictive competencies for the roleDevelop structured standardised questions linked directly to the competenciesTrain all interviewers on bias mitigation and effective evaluation techniquesOrganise a diverse interview panel, if possible, if not try and include diversity throughout the interview stages Implement calibration sessions to ensure consistent scoring across interviewersContinuously measure hiring outcomes against interview assessments to refine the processAs talent competition intensifies, interviews remain an invaluable assessment tool to ensure the right professional is chosen for the role. By implementing evidence-based techniques, leveraging appropriate technology, and balancing structure with authentic human connection, employers can maximise the interview process and secure long lasting top talent. Employers who take the time to master this approach will create sustainable competitive advantage in an increasingly skills-driven economy.If you’re looking for support with your hiring strategy and / or interview approach don’t hesitate to contact one of our consultants who will be happy to support you. SourcesAmerican Staffing Association: Vast majority of Americans prefer in-person job interviewsAmerican Psychological Association: Journal of applied psychologyForbes: How to reduce hiring bias against womenGartner: HR technology imperativesHunt Scanlon Media: Lack of interview skillsMcKinsey: Attracting and retaining the right talentREC: Hiring mistakes are costing UK businesses billions each yearResearch Gate: The validity and utility of selection methods in personnel psychologyHunt Scanlon Media: Lack of interview skills

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General Insurance newsletter Friday 21st March 2025

Insurance NewsWhat can we expect from the 2025 Insurance employment market? - Growth across the insurance jobs profession is expected to rise by approximately 0.58% in 2025, but hiring and talent retention remains a challenge — 52% of employers struggle with talent shortages, while 60% of employees plan to leave their current employer due to heavy workloads, low pay, and limited growth. With 66% of firms lacking a strong employee value proposition, improving employer branding, compensation, and career development is crucial for retention. (IDEX Consulting news, 'What can we expect from the 2025 Insurance employment market?')How does your salary compare to your peers? Find out with our Insurance Salary Guide - The Insurance sector highlights strong growth but challenges with sourcing tech savvy specialists and potential AI upskilling. Our IDEX salary guide data shows that 52% of insurance employers don't think they have the talent needed to achieve their business objectives and a significant number of employees have not had a pay rise in the past year. When was the last time you checked your salary and compensation package to see how it compares to the industry averages? Check now with our 2025 salary guide. (IDEX Consulting news, 'How does your salary compare to your peers? Find out with our Insurance Salary Guide')Predictive analytics: what you need to know - Predictive analytics is transforming insurance by improving risk assessment, fraud detection, and claims processing. Insurers are using new technology tools to analyse data sets to refine pricing, detect fraudulent claims, and streamline settlements. What developments are happening across the market and what tools do you need to be aware of to aid your competitive advantage? (IDEX Consulting news, 'Predictive analytics: what you need to know')M&A financial services market analysis: new opportunities - James Salmon, Financial Services M&A specialist shares his thoughts on how the MA& market has fared so far in 2025, what opportunities there are for sellers and buyers and how leaders can differentiate themselves to secure the best possible deal, read our insights piece to help inform your growth strategy. (IDEX Consulting news, 'M&A financial services market analysis: new opportunities for IFAs')As insurers seek to improve accuracy and consistency in policy reviews and claims assessments, Kennedys IQ has introduced an artificial intelligence (AI) risk analysis solution designed to support decision-making. The new tool, Kennedys IQ SmartRisk, integrates into the firm’s technology platform and aims to help insurers navigate complex coverage evaluations and liability determinations. (Rod Bolivar, 20/3/2025, Insurance Business, 'OneAdvent CEO on the conditions impacting the MGA and broker markets today')Andrew Tolman, travel expert at Allianz UK, urges brokers to "promptly inform" policyholders of the risk of travelling to countries on the FCDO's banned list, as doing so may invalidate their insurance. This comes as the discussion surrounding FCDO travel guidelines reaches new heights. UK travellers have been cautioned about visiting a variety of countries and territories by the FCDO, which has raised concerns over “safety, political conflicts, and natural disasters,” according to The Independent. Travellers are also advised to exercise varying degrees of caution depending on their destination. (Yasmin Donald, 20/3/2025, Insurance Business, 'FCDO travel ban upheaval: how brokers can prepare for take-off')How are businesses evolving amid softening market conditions? When Tim Quayle stepped into his new role as CEO of OneAdvent after its “landmark” MBO in September 2023, he underscored his ambition to accelerate the business’s growth agenda. Catching up with Insurance Businesssome18 months on, he highlighted some of the milestones achieved by the business – and offered his insights into the market conditions impacting MGAs and brokers today. (Mia Wallace, 20/3/2025, Insurance Business, 'Kennedys IQ introduces AI for insurance risk')The International Underwriting Association (IUA), which represents 79 companies operating in the London insurance market, has appointed Chris Jones (pictured) as its new chief executive. Effective May 1, 2025, Jones will succeed Dave Matcham, who is retiring after a 45-year career in the London Market, including 20 years as head of the IUA. (Kenneth Araullo, 20/3/2025, Insurance Business, 'Chris Jones named new chief executive of IUA')Coinciding with a rise in claims ratio attributed to several large-scale catastrophe events, premier re/insurance market Lloyd’s reported a lower profit before tax of £9.6 billion for 2024, down from £10.7 billion in 2023. The major claims ratio increased to 7.8%, reflecting the impact of large-scale catastrophe events, including hurricanes Milton and Helene and the Baltimore Bridge collision. Despite this, Lloyd’s said that it maintained its focus on profitability, with a stable expense ratio of 34.4%. (Kenneth Araullo, 20/3/2025, Insurance Business, 'Lloyd's reports lower profit in 2024 with higher claims ratio from disasters')A study commissioned by AXA UK indicates that nearly two-thirds (63%) of UK motorists do not intend to purchase an electric vehicle (EV), with battery lifespan concerns cited as a key deterrent. Among those who do not plan to buy an EV, 37% attribute their reluctance to worries about battery longevity. The research also found that only 8% of respondents intend to purchase a second-hand EV. Cost remains a significant barrier, with 61% of those surveyed stating that EVs are too expensive, while 36% cite a lack of local charging infrastructure as a key reason for their decision. (Kenneth Araullo, 20/3/2025, Insurance Business, 'What's stopping UK drivers from going electric?')There is more to boxing than what happens in the ring, and Anthony Joshua OBE knows it well. The former two-time heavyweight world champion has expanded his career beyond sport, building business ventures alongside his achievements in boxing. At the British Insurance Brokers’ Association (BIBA) Conference 2025, he will discuss resilience, leadership, and success in and out of competition. (Rod Bolivar, 20/3/2025, Insurance Business, 'BIBA reveals Anthony Joshua for 2025 Conference')Viridium Group, a consolidator of life insurance portfolios in Europe, is set to operate under new ownership following an acquisition by a consortium of insurers and asset managers. The transaction, valued at approximately €3.5 billion, is expected to impact the management of closed life insurance policies, potentially influencing the direction of the European life insurance sector. The consortium, led by Allianz, BlackRock, and T&D Holdings, will acquire Viridium from private equity firm Cinven, which is exiting after more than a decade of investment. (Rod Bolivar, 20/3/2025, Insurance Business, 'Giants team up to swoop on insurance consolidator')"We are pleased to welcome Christina to Agria as part of our continued growth journey," said David Haak, CEO of Agria. Almtun brings extensive industry experience, most recently serving as commercial head at Svedea for 13 years and holding multiple leadership positions at If, focusing on business development and strategic integration. Almtun will lead the company's existing markets in Sweden, Norway, Denmark, Finland, Germany, France, the United Kingdom, and Ireland, with a mandate to explore further European expansion. Agria Pet Insurance has appointed Christina Almtun as its new head of European operations, effective August 18, 2025. (Camille Joyce Lisay, 20/3/2025, Insurance Business, 'Insurance moves: Agria, Tokio Marine')An economic transition is underway as an estimated $70 trillion in assets is projected to transfer from baby boomers to younger generations globally, according to recent financial research by LV=. Kings Court Trust estimates the UK wealth transfer will reach £5.5 trillion. Financial experts are focusing on strategies to mitigate potential risks associated with wealth preservation. Taxation emerges as a critical consideration in wealth transfer planning. Current tax rates are at historic levels, with potential increases on the horizon. Inheritance Tax (IHT) presents particular challenges, with multiple strategies available for mitigation. (Camille Joyce Lisay, 20/3/2025, Insurance Business, 'Baby boomer wealth transfer reshaping global economy – LV=')It has never been more important for businesses to protect themselves against cyber threats. While the soft market for cyber insurance has continued to drive rates lower, cyber risks have evolved rapidly. In 2024, security services took down a number of ransomware groups, which dispersed attackers across numerous smaller groups. Now, these groups have reorganized and once again are focusing on critical and high-threat software vulnerabilities. (James Doswell, 19/3/2025, Insurance Business, 'Stay protected: Insights on cyber threats and risks')After the release of its preliminary results, Talanx Group confirmed a strong financial performance for 2024, with double-digit growth in insurance revenue and a significant rise in operating profit. Insurance revenue rose 11% to €48.1 billion, while operating profit (EBIT) increased to €4.9 billion from €3.1 billion in the previous year. Net income grew by 25% to €1.98 billion, exceeding the company’s original 2025 target ahead of schedule. Return on equity reached 17.9%, up from 16.6% in the year prior. (Kenneth Araullo, 19/3/2025, Insurance Business, 'Talanx reports strong year with double-digit revenue growth')Cyber security and insurance professionals have issued a critical warning about the escalating cyber threat landscape, calling for immediate and proactive risk management strategies across the industry. In a recent roundtable hosted by Intersys, industry experts highlighted trends that pose significant risks to insurance businesses. Key findings revealed that 60% of businesses affected by ransomware ultimately shut down within three years, underscoring the devastating potential of cyberattacks. (Camille Joyce Lisay, 19/3/2025, Insurance Business, 'Cyber experts warn: Insurance firms must act before it's too late')Think AI is a thing of the future? Not so, suggests Crawford & Company as it introduces its SaaS platform Turvi into the UK market. The insurtech solution applies artificial intelligence and automation to claims management, aiming to reduce processing times, minimise errors, and support faster decision-making in property and casualty (P&C) claims. (Rod Bolivar, 19/3/2025, Insurance Business, 'Crawford & Company introduces AI-powered claims tool in UK')Artificial intelligence has become a critical business tool, with nearly two-thirds of companies testing AI technologies in the past year, according to a new report by Gallagher. The research revealed that the majority of companies have adopted AI in their operations, highlighting its potential, but with a catch. By the end of 2024, 45% of businesses were integrating AI into daily operations, marking a substantial one-third increase from the previous year. Larger firms have been particularly aggressive, with 82% adopting AI technologies compared to 69% a year earlier. (Camille Joyce Lisay, 19/3/2025, Insurance Business, 'AI is reshaping business – Gallagher looks at the cost')A polar vortex is set to hit the UK this mid-March, according to new forecasting data. The Met Office has warned that the UK is “highly likely to see a polar vortex collapse in March,” as reported by The Independent. A polar vortex is “a circulation of winds high up in the stratosphere,” the Met Office explained. Its collapse has “also been linked to many spells of cold winter weather in recent years.” (Yasmin Donald, 18/3/2025, Insurance Business, 'Mid-March snowstorm: how brokers can help homeowners')The legal battle between Newmont Corporation and a group of international insurers over coverage related to Newmont’s mining operations in Ghana continues to advance in federal court, with the parties now bound by a detailed confidentiality agreement governing the disclosure of sensitive information during the pretrial phase. (Matthew Sellers, 18/3/2025, Insurance Business, 'Gag ordered over AIG, Munich Re, Swiss Re, Zurich, Starr and multiple Lloyd's underwriters')Insurance Business UK opens the fourth annual Brokers on Construction to discover the UK’s best construction insurers. The report will gather insights from brokers and allow them to rate their construction insurance provider in critical areas, such as coverage, value for money, underwriting expertise and claims processing. (Insurance Business UK, 18/3/2025, Insurance Business, 'Take the 2025 Brokers on Construction survey')Jensten Group has introduced Jensten Network, a new broker network aimed at providing insurance professionals and independent brokers across the UK with flexible options for business growth and operational support. The network is open to independent brokerages, appointed representatives (ARs), and Coversure franchise members. (Kenneth Araullo, 18/3/2025, Insurance Business, 'Jensten Network debuts with flexible options for UK brokers')Mergers and AcquisitionsEuropean insurance mergers and acquisitions (M&A) activity reached a record high in 2024, with 694 announced deals, a more than 20% increase from 574 transactions in 2023, according to analysis by FTI Consulting. The firm’s 2024 European Insurance M&A Barometer indicates that market conditions continue to support consolidation, particularly within the distribution sector, despite ongoing geopolitical and economic shifts. (Kenneth Araullo, 19/3/2025, Insurance Business, 'Private equity fuels record-high M&A deals across Europe')Emerald Holding, Inc. has acquired the assets of Insurtech Insights, a London-based company that produces insurance technology conferences across Europe, Asia, and the US. The acquisition marks Emerald’s entry into the insurance technology sector as part of its broader strategy to expand into high-growth markets through acquisitions. (Josh Recamara, 18/3/2025, Insurance Business, 'Emerald enters insurtech market with Insurtech Insights acquisition')Movers"We are pleased to welcome Christina to Agria as part of our continued growth journey," said David Haak, CEO of Agria. Almtun brings extensive industry experience, most recently serving as commercial head at Svedea for 13 years and holding multiple leadership positions at If, focusing on business development and strategic integration. Almtun will lead the company's existing markets in Sweden, Norway, Denmark, Finland, Germany, France, the United Kingdom, and Ireland, with a mandate to explore further European expansion. Agria Pet Insurance has appointed Christina Almtun as its new head of European operations, effective August 18, 2025. (Camille Joyce Lisay, 20/3/2025, Insurance Business, 'Insurance moves: Agria, Tokio Marine')Marsh has appointed Amy Barnes (pictured above) as global head of energy & power, effective immediately, as the industry ramps up support for the net zero transition. In her new role, Barnes will oversee strategy and innovation for Marsh’s global network of energy and power advisors, risk engineers, and brokers. Barnes will also continue her responsibilities as head of climate and sustainability strategy at Marsh. (Kenneth Araullo,19/3/2025, Insurance Business, 'Marsh names Amy Barnes global head of energy & power')Specialty and property and casualty re/insurer, Canopius, has appointed Candace Steele (pictured left) as group risk director. Steele, who joined the company on March 17, 2025, reports to group chief risk officer Sheldon Lacy and will oversee the firm’s risk framework. She will work with business unit chief risk officers to coordinate risk functions across Canopius’ global operations. (Rod Bolivar, 19/3/2025, Insurance Business, 'Canopius, Aurora announce executive moves')Two players in the financial and insurance sectors have announced senior leadership changes aimed at refining their business operations and responding to market demands. Close Brothers Premium Finance (CBPF) and Liberty Specialty Markets (LSM) have each announced structural adjustments, appointing key figures. (Rod Bolivar, 19/3/2025, Insurance Business, 'Close Brothers, Liberty Specialty restructure leadership')Aon plc announced several leadership transitions, including the departure of Eric Andersen from his role as president. Andersen will now serve as a senior adviser to Chief Executive Officer Greg Case, who will also assume the role of president. The transition period will continue until June 2026, the company said in a statement. (Josh Recamara, 18/3/2025, Insurance Business, 'Aon announces leadership changes')Markel Group announced that Simon Wilson, currently president of Markel International, has been appointed chief executive officer of the company’s three primary underwriting businesses – Markel Specialty, Markel International, and Markel Global Reinsurance. As part of the leadership transition, these businesses will now operate collectively under the name Markel Insurance. (Kenneth Araullo, 17/3/2025, Insurance Business, 'Markel consolidates insurance divisions under new CEO Simon Wilson')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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General Insurance newsletter Friday 14th March 2025

Insurance NewsAI tools transforming the insurance profession - AI tools are reshaping how insurers detect fraud, underwrite and process claims, enhancing productivity, accuracy and improving customer service. However, barriers such as legacy system integration and regulatory uncertainty remain. Our research piece provides some of the latest tools and platforms insurers need to be aware of. (IDEX Consulting news, 'AI tools transforming the insurance profession')Join the premier network for independent brokers - Are you an independent broker looking for like minded brokers to collaborate with? Brokerbility are the premier community for independent brokers offering expert support, access to exclusive resources, and cutting-edge technology for its small network of members. They are recognised and respected for their ability to help independent brokers partners unlock their growth potential. Learn how they can support you. (IDEX Consulting news, 'Join the premier network for independent brokers')Faced with a counter offer? Here's what you need to know - Before accepting a counter-offer, consider the reasons behind your initial decision to leave, the potential impact on long-term job satisfaction, and whether the offer truly addresses your needs. Is your employer genuine? And what other benefits can they offer to aid your career progression? It doesn’t all have to be monetary…Research shows many who accept counter-offers remain disengaged. Seek professional advice and take time to evaluate your options thoroughly. (IDEX Consulting news, 'Faced with a counter offer? Here's what you need to know')How IDEX enabled a broker transform their sale value by over £1m - IDEX Consulting enabled a key player in the insurance market increase their sale value by over £1m and improve profitability by £500k. The broker made a strategic investment in an elite hire, who built a book of business worth £330k. When the broker sought IDEX’s M&A expertise for a sale, the new hire’s contribution helped secure a considerably higher sale price. This successful investment in talent proved pivotal for this broker’s proposition, reputation and growth. (IDEX Consulting news, 'How IDEX enabled a broker transform their sale value by over £1m')Probitas 1492 posted a £62m UK GAAP pretax profit in 2024, up 17%, with a 77.9% NCOR—its fourth year below 80%. CUO Antony Dodson called it the firm's best result, outperforming Lloyd’s by 12 points over five years. Recent expansions include Canada, Australia, and eight new business classes. (Josh Recamara, 14/3/2025, Insurance Business, 'Probitas sees strong financial results on back of Aviva deal')A KPMG study found that while insurers have high expectations for AI adoption, they face pressure to show immediate ROI. AI spending is set to rise, with 66% allocating up to 20% of their budgets and 34% investing more. Trust remains a challenge, as 46% have reservations about AI's reliability, but 82% recognize the need for strong governance frameworks. (Josh Recamara, 13/3/2025, Insurance Business, 'AI adoption in insurance accelerating, but ROI pressures loom: KMPG')Generali reported record 2024 results, with gross written premiums rising 14.9% to €95.2bn and adjusted net profit reaching €3.77bn. The insurer surpassed its “Lifetime Partner 24” targets, driven by growth across all segments despite lower net realised gains. (Kenneth Araullo, 13/3/2025, Insurance Business, 'Generali reports record financial performance')Global insurance M&A fell to a 16-year low in 2024, with 204 deals, down from 346 in 2023, amid economic uncertainty and regulatory scrutiny, per Clyde & Co. While insurer acquisitions slowed, investment in MGAs grew, contrasting WTW’s report of increased deal activity. (Kenneth Araullo, 12/3/2025, Insurance Business, 'Insurance M&A falls to lowest level since 2009 – Clyde & Co')As cyber threats rise, cyber insurance is becoming vital for SMBs with limited cybersecurity resources. Coalition’s Cyber Threat Index 2025 highlights ransomware as a key driver of claims, with breaches often stemming from perimeter security flaws and exposed remote management tools. (Josh Recamara, 12/3/2025, Insurance Business, 'Cyber insurance becoming a critical safeguard for SMEs: Report')Lloyd’s-backed Onda has launched Onda X, a cyber insurance product for mid-market companies in the UK and France. Offering coverage up to £5 million for companies with revenues between £100 million and £1 billion, it simplifies the placement process by eliminating technical questions and form filling. (Josh Recamara, 12/3/2025, Insurance Business, 'Onda introduces new product for mid-market companies')Howden has opened a new office at The Avebury in Milton Keynes, relocating its Bedford team as part of its regional expansion. The 30,000 sq ft space supports hybrid working with flexible workstations and collaborative areas, and has earned gold SKA accreditation for its sustainable refurbishment. (Kenneth Araullo, 11/3/2025, Insurance Business, 'Howden relocates Bedford team to new Milton Keynes office')WTW has announced that Liberty Specialty Markets (LSM) will be an early adopter of Neuron, its digital platform designed to modernize specialty risk placement. Launched in 2023, Neuron aims to improve flexibility, speed, and efficiency in trading risks, supporting portfolio strategies, and streamlining the London Market's digital shift through enhanced connectivity and automation. (Kenneth Araullo, 11/3/2025, Insurance Business, 'WTW's Neuron platform gains early adopter in Liberty Specialty Markets')Lloyd’s has released a trading update for FY24 ahead of its full results on March 20, covering premium growth, underwriting performance, investment returns, and expected losses from major events. CFO Burkhard Keese emphasized profitability and disciplined growth, while acknowledging the California wildfires’ impact, noting it’s not expected to pose a capital risk to the market. (Kenneth Araullo, 10/3/2025, Insurance Business, 'Lloyd's premium growth outpaces FX headwinds in 2024')Allianz Trade has introduced standalone business fraud insurance in Ireland to support firms with more than 20 employees in managing employee and third-party fraud risks. Head of business fraud in the UK and Ireland, Vikshay Vijai, will collaborate with Dean O’Brien, country manager for Ireland, and Michael Murtagh, sales manager in Dublin, to expand the fraud portfolio and grow the fraud team in Dublin. The insurance covers losses caused by theft, fraud, embezzlement, and other fraudulent activities by employees and external workers. (Josh Recamara, 10/3/2025, Insurance Business, 'Allianz Trade launches business fraud insurance operations in Ireland')Mergers and AcquisitionsZurich Insurance Group has increased its stake in Banco Sabadell to nearly 4%, becoming the bank’s second-largest investor. The move strengthens its position in a key sales partnership as Sabadell resists a hostile takeover bid from BBVA. Zurich and Sabadell have a longstanding joint venture, generating $643 million in insurance revenue last year. (Josh Recamara, 10/3/2025, Insurance Business, 'Zurich Insurance increases stake in Banco Sabadell')Ardonagh Advisory has acquired Anderson & Co, a Blackpool-based broker specialising in commercial and personal lines. Managing Director Christine McLellan will continue to lead the team as they join Ardonagh’s North division under Stephen Boyd. The deal strengthens Ardonagh’s presence in the North by adding an established brokerage with a strong reputation. (Josh Recamara, 14/3/2025, Insurance Business, 'Ardonagh Advisory acquires Anderson & Co')IK Partners, through its IK Partnership III Fund, has agreed to acquire a minority stake in Seventeen Group, a UK-based insurance and risk management firm, from the founding shareholders and management. The deal marks IK’s first investment in the UK insurance market, following its European track record. Financial terms were not disclosed. (Josh Recamara, 14/3/2025, Insurance Business, 'IK Partners acquires minority stake in Seventeen Group')MoversAXA XL has appointed Louise Nevill as CUO – Specialty and Sundeep Khera as Head of Marine and Energy in a restructuring under CUO Mike Gosselin. Nevill, formerly CEO of Marine at Marsh Specialty UK and ex-Head of Marine at JLT, will lead the specialty pillar. Khera, who joined AXA XL in 2013 after senior roles at RSA and Allianz, expands his role. (Josh Recamara, 14/3/2025, Insurance Business, 'Insurance moves: AXA XL, Berkeley Alexander and Compre')Berkeley Alexander has appointed Grant Robinson as Business Development Manager. Robinson, formerly a Senior Sales Executive at AXA PPP, brings 13 years of experience in sales, business development, and claims. He will work with intermediaries to expand their market reach. (Josh Recamara, 14/3/2025, Insurance Business, 'Insurance moves: AXA XL, Berkeley Alexander and Compre')John Howard has been appointed Independent Non-Executive Chairman of Compre Group, a Bermuda-based specialty reinsurance firm. With over 30 years in insurance and financial services, Howard was most recently CEO of Truist Insurance Holdings and held leadership roles at Prudential Financial, GE, and Conseco. (Josh Recamara, 14/3/2025, Insurance Business, 'Insurance moves: AXA XL, Berkeley Alexander and Compre')Winn Group has appointed Mike Wall as Head of Insurance Relationships. With 40 years of experience, including leadership roles at Fresh Insurance and Markerstudy, he will focus on strengthening partnerships and expanding in the MGA sector. (Josh Recamara, 13/3/2025, Insurance Business, 'Insurance moves: Winn Group, Arch Insurance, DWF, AEGIS, Westfield')Arch Insurance has appointed Carmen Cobeta as Head of Casualty, Spain, and Irene Fernandez Franic as Senior Casualty Underwriter. Based in Madrid, they will drive growth in Spain and Portugal. Cobeta joins from QBE Europe, while Fernandez Franic brings experience from Howden, Aon, Generali, and QBE. (Josh Recamara, 13/3/2025, Insurance Business, 'Insurance moves: Winn Group, Arch Insurance, DWF, AEGIS, Westfield')AEGIS London has appointed Charity Bare as Chief Risk and Compliance Officer, pending regulatory approval. She brings experience from Brit, Talbot, Nephila, and Canopius and will report to CEO Alex Powell, overseeing risk, exposure management, and compliance. (Josh Recamara, 13/3/2025, Insurance Business, 'Insurance moves: Winn Group, Arch Insurance, DWF, AEGIS, Westfield')Westfield Specialty International has promoted Jeremy Shallow to Chief Underwriting Officer and Active Underwriter of Syndicate 1200, pending regulatory approval. With 20 years of experience at Aspen and WestLB, he will report to EVP Graham Evans. (Josh Recamara, 13/3/2025, Insurance Business, 'Insurance moves: Winn Group, Arch Insurance, DWF, AEGIS, Westfield')The MGAA has appointed Alison Cairns as Training and Development Manager. Formerly Underwriting Competency Development Manager at AXA UK, she will lead training initiatives across underwriting, claims, operations, and compliance to support MGA professional growth. (Josh Recamara, 12/3/2025, Insurance Business, 'Key moves: MGAA, Specialist Risk, Marsh Specialty, Everest')Specialist Risk Group has appointed Richard Morgan as Head of Corporate at SRIS. With previous senior roles at Marsh, Willis, JLT, and Towergate, he will oversee corporate teams in London, Birmingham, and Manchester, focusing on service, growth, and market positioning. (Josh Recamara, 12/3/2025, Insurance Business, 'Key moves: MGAA, Specialist Risk, Marsh Specialty, Everest')Andrew George has been named President of Marsh Specialty, overseeing its global business, including aviation, climate and sustainability, construction, FINPRO, and PEMA. With Marsh since 1988, George has held leadership roles in energy, power, and credit specialties across multiple regions. He will report to CEO Martin South and join the Marsh Executive Committee. (Josh Recamara, 12/3/2025, Insurance Business, 'Key moves: MGAA, Specialist Risk, Marsh Specialty, Everest')Giacomo Mariani has joined Everest to lead its insurance business in Italy following the Milan office opening. Previously Deputy Head of Strategic Teams at Aon and Head of Large Brokers at Zurich, Mariani will report to Jose Ramon Morales, Head of southern Europe. (Josh Recamara, 12/3/2025, Insurance Business, 'Key moves: MGAA, Specialist Risk, Marsh Specialty, Everest')DUAL UK has launched its Climate Risk & Resilience (CR&R) underwriting team, led by Rob Best, who brings four decades of experience from building teams at JLT, Gallagher, and Willis. He is joined by David Sparrow, former CEO of Built Asset Consultancy EC Harris and a former member of the Global Management Committee at Environmental Consultancy Arcadis. The team also includes Simon White (formerly with AIG), Rikke Olesen (formerly at AXA XL), Samantha Walters (formerly at Chubb), and Chris Gwynn (formerly at CLS RS). Together, they bring extensive expertise in environmental, public law, and rights of light underwriting. (Kenneth Araullo, 11/3/2025, Insurance Business, 'DUAL UK launches Climate Risk & Resilience underwriting team')QBE is expanding its warranty & indemnity (W&I) insurance presence in the Nordics, appointing Samuel Pihl as Transactional Liability Underwriter for the region. Pihl, who joins QBE Nordics in Stockholm on March 10, brings experience from the insurance and legal sectors, having worked on corporate transactions at a leading Swedish law firm. He will leverage QBE’s global expertise to underwrite W&I insurance across the Nordic market. (Kenneth Araullo, 10/3/2025, Insurance Business, 'Nordic M&A growth drives QBE's W&I insurance expansion')Vincent Harel has been appointed CEO of Verlingue. Harel was previously co-CEO of Marsh McLennan France and Chairman of Mercer France, where he worked since 2003 in roles including third-party administration, insurance advisory, and business development. (Josh Recamara, 10/3/2025, Insurance Business, 'Verlingue names chief executive officer')All information provided in this market digest has been gathered from Insurance Business and IDEX Consulting.

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M&A financial services market analysis: new opportunities for IFAs

IDEX Consulting spoke to James Salmon, financial services M&A specialist, on the state of the M&A market, opportunities for firms and how leaders can differentiate themselves to secure the best possible deal. James shares his thoughts below. How has the 2025 M&A market fared so far?Deal volumes have continued to rise over the past few years, by around 12% year-on-year, with the highest rise since 2021, and so it’s no surprise that there has been a degree of optimism throughout 2025 so far. A key driver of course, was the need for many buyers and sellers to finalise deals ahead of the changes to business asset disposal relief and capital gains tax hikes, which were more outstated than anticipated.Publicly disclosed deal value rose from £2.1 billion to £9.3 billion in 2024, and we anticipate the sentiment to be much of the same in 2025. There’s increased appetite and interest coming from Private Equity backing in the IFA sector, alongside investment banks and regional practices with an interest in national growth and scale.What can we expect to see for financial advice firms throughout 2025?There will be a number of things which continue to influence and develop the market. Several key things to note are:An increase in buy out options– There will likely be an increased interest in buy out options for lifestyle IFAs, facilitated through share and asset purchase deals. Growing regulatory pressure – With intensified scrutiny driven by the Consumer Duty in recent history, alongside new laws shaping market dynamics, companies will need to adapt to changing regulations and compliance. Private equity (PE) investment – Continued overseas private equity interest in acquiring UK assets, alongside appetite from existing PE holdings for consolidation, continues to show promise. The Office for National Statistics (ONS) reported that foreign investors have acquired around £7.8 billion worth of UK firms in the last quarter of 2024. Global private equity firms have record levels of capital to deploy and are under a lot of pressure to either use the money to invest or return it to their original investors, creating an aggressive PE platform. Technology and AI innovation – Acquisition of businesses with AI capabilities offers a relatively efficient way to onboard advanced technology and expertise. In 2024 there was around 857 enterprise tech deals, with value rising to above $30 billion, driven by PE investment and large transactions.Acquisitions based on a retiring IFA workforce – Research shows that around 50% of independent advice firm owners are planning their succession with a key driver being retirement.Is now a good time to acquire or sell?Activity in the market is strong, and the volume of deals is good. The buy and build strategy, especially on a regional level continues to offer firms an attractive and steady way to diversify and provide clients with a wider range of solutions.For those looking to sell, now is as good a time as any to consider the market for options. Although there is of course a degree of political and economic uncertainty, many businesses are proactively leveraging economies of scale for business growth. We expect to see a continued merging of consolidators to take greater precedence this year, as they reach the end of their PE investment cycles and look at extension and reinvestment options.What are the top challenges businesses will face this year, and how can they prepare themselves?Talent attraction - Attracting and engaging the best talent in the market continues to be a challenge for most businesses, especially for specialised roles that require advisory, data, technology and cybersecurity skills. Having the right capabilities and talent in place is an attractive factor for businesses who are considering a sale. Our recommendation would be for businesses to seriously assess their internal recruitment plan and employer branding strategy to help ensure the topic of talent doesn’t dampen expectations.Rising class 1 employer national insurance – From April 6th employer national insurance will rise by about 1.2%, from 13.8% to 15%, with no immediate reprieve in sight, creating an additional strain for employers. This is particularly true of small and medium sized enterprises which are already operating on tight margins and are likely to have fewer resources to be able to absorb increases and reinvest. This squeeze on profitability is likely to encourage businesses to evaluate how they can offset this additional financial burden. FCA’s change in control process – Those considering disposal will be aware that increased regulation is delaying the Change in Control process. Understandably sellers and buyers are becoming frustrated given many want to complete before the April 6th increase in Business Asset Disposal Relief and Capital Gains Tax. What was once a 60-day standard review can now be paused mid cycle, extending to lengthier timeframes on more complex transactions, creating a great deal of uncertainty. The impact of consumer duty on integration – Consumer Duty has shone a light on acquisitions with firms now taking a more conscious perspective on how they onboard and integrate partners to align with regulation whilst maximising ROI. To comply with regulation, pricing structures need to be aligned to drive consistency of service, ensure fair value and at the same time ensure profitability for investors and shareholders. Those who are prepared well for Consumer Duty, will have a market proposition which makes for a smoother transition and integration process.What opportunities are there for buyers?There’s a broad and deep mix of opportunities in the market for buyers, based on a number of factors:Retiring advisors and succession planning The average age of a financial advisor is 58 and around 50% of financial advisors are expected to retire in the next ten years, but only a third have succession plans in place. Market consolidationWe’re seeing more scale driven consolidation, as smaller firms continue to struggle with increasing compliance costs, technology demands, and talent needs.M&A transactions in the wealth management sector reached record levels in 2023-2024 with the average deal size growing from $1.8B AUM in 2022 to $2.3B AUM in 2024. Growth potential Projected compound annual growth rate for the global wealth management market is estimated to be around 9.2% by 2030, offering a scope of opportunities for IFAs. Specialised acquisitions involving niche areas around ESG and AI, or those which will help attract new client demographics, will help to accelerate growth into new and existing geographies.Technology integrationThis year AI capabilities will reach new heights and the ability to integrate new platforms and systems to increase operational efficiency will be crucial. Research shows that firms with strong digital platforms tend to have a higher productivity rate per advisor, of at least 30-40%. 78% of advisors cite technology integration as a major challenge in post-acquisition integration, so being able to get ahead of this will considerably aid competitive advantage. What opportunities are there for vendors?There’s a wide pool of active vendors in the market looking for quality merger or acquisition opportunities, and we see a ‘sellers’ market forming across the sector. This is further evidenced by the increasing demand from consolidators, private equity firms and larger wealth management organisations for increased deal flow.Due to increased regulatory scrutiny, buyers often have a more defined and Consumer Duty compliant proposition than ever before, offering vendors more security from a client continuity perspective.These greater controls coupled with greater scale, capital, and operational efficiency, creates an attractive proposition for both the vendor, their team and clients.For those looking to sell, how can they differentiate themselves from other businesses and make themselves appealing to buyers?There are a number of critical factors when considering your plans to merge or exit:Plan ahead –Those who have a deep understanding of the inner dynamics of their business, are likely to be prepared to address challenges that come with an acquisition. Anything a vendor can do to minimise disruption and risk during integration will put them at a huge advantage in ensuring both continuity and the achievement of earn-out. Acquisitions take time, and getting on the front foot enables business owners to mitigate against perceived challenges and achieve transaction success.Conduct a thorough review and analysis – A SWOT analysis can be a simple but effective way to assess your opportunities, strengths and potential threats both for your business and in the marketplace. Understanding this will help you minimise risk and alleviate issues before they become problematic.Seek advice from a trusted broker – Engage with a well-connected and trusted broker who understands the market. M&A experts have strong connections in the market and can help match you to the right partner. A broker can also help promote and pitch your proposition effectively in the marketplace, to help attract suitable buyers who align with your values, whilst addressing challenges which may later arise through a transaction.Prepare information ahead of time – Vendors often underestimate the depth of information required for the due diligence process. Always try and put yourself in the shoes of the buyer – what would you want to see and analyse to bring you the confidence that this is the right deal?Explore your trade-offs – What are you willing to compromise on to achieve the best deal? What's important to you? What’s a non-negotiable for your clients, your team and long-term goals? This will help you identify which acquirer presents the best and most secure opportunity, that aligns with your vision. Why should a buyer or seller partner with IDEX?IDEX Consulting are different to other brokers, we are an independent advisor uniquely positioned to provide impartial consultancy to those exploring their buy-and-sell options. We partner closely with firms to ensure we truly understand their values and long-term objectives. This helps us to dissect the market and filter out acquirers whose values and motives don’t align with that of a vendors.For us it’s not just about a sale or acquisition, it’s about enabling and supporting the lifestyle, financial and personal goals of everyone involved to ensure the best outcome is achieved. Due to our talent management and marketing expertise, we also help businesses with future growth post integration through innovative value propositioning and talent insights.Our team of M&A consultants have over 150 combined years of experience, with an established network of over 40,000 UK and international businesses, having introduced £13 billion AUA of opportunity to firms across the financial services sector. We also work with a range of legal, financial, tax and regulatory specialists to equip our clients with invaluable knowledge and support, who all work to support each stage of a transaction.For a confidential chat on the M&A market or if you’re looking to explore your options, contact our financial services M&A consultant, James Salmon.

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AI tools transforming the insurance profession

Artificial intelligence continues to revolutionise the insurance profession, bringing unprecedented changes to operational productivity, business models, customer experiences and client engagement. Over the past few months, the remarkable capabilities of ChatGPT and generative AI have captured the attention and imagination of the public worldwide, creating an urgency to act and an imperative for organisations to review their business models. Deloitte report that “65% of UK insurers use AI for risk evaluation, up from 48% in 2023” (Deloitte: Tech trends 2025) and the Geneva Association note that “the implementation of AI in underwriting has led to a 43% improvement in risk assessment accuracy and a 31% reduction in processing time for complex policies” (Geneva Association: Papers on Risk and Insurance).The use of predictive analytics, automated claims processing, deep learning models and telematics (a method used to monitor and track vehicles) has allowed insurers to reduce processing time, improve fraud detection and claims accuracy, and offer clients more personalised rates. Below we summarise several groundbreaking developments and tools that are re-shaping the industry.Generative AI for customer interactionAdvanced large language models (LLMs) have revolutionised customer service across the insurance market. LLMs are able to sift through vast amounts of unstructured data that is based on policyholder information, regulatory documents and claims reports, and analyse this data without building complex proprietary models. According to a c-suite insurance leader survey conducted by Conning, global investment management firm, 67% of insurers have implemented or are piloting LLMs to improve customer service and many have identified a 35% reduction in response time (Conning: Artificial Intelligence usage in insurance).The latest generation of conversational AI tools can now handle complex policy questions with greater accuracy, generate personalised policy explanations and provide multilingual translations across international markets.Some of these tools include:InsurGPT– a generative AI tool that has been designed to solve unstructured data challenges Expert AI– a premier artificial intelligence platform for language recognition Eigen Technologies– an automated data extraction platform for regulated industries Underwriting and risk assessment toolsAI-driven underwriting platforms have matured significantly, with McKinsey reporting that AI-enhanced underwriting significantly reduces processing time and improves accuracy (McKinsey: Insurance 2030 – the impact of AI on the future of insurance).Insurers across the board are using these tools for a range of tasks. Key uses include the following:Computer vision for property assessmentProperty insurers are leveraging computer vision AI to assess property conditions from satellite imagery, drone footage, and customer-submitted photos. These tools are able to identify potential risks like roof damage, fire hazards and flood vulnerability without requiring physical inspections, at a much faster rate than manual methods. Behavioural AI for life and health insuranceLife and health insurers are increasingly using AI to analyse data from wearable wellbeing devices, health records, and lifestyle indicators. In a study conducted by LIMRA, global research and consulting company, insurers using these types of technologies reported a 28% improvement in risk classification accuracy (LIMRA: The AI industry today).Claims processing automation Claims automation represents one of the most impactful areas of AI adoption. According to Willis Towers Watson, insurers implementing end-to-end AI claims solutions report faster claims processing, a significant reduction in processing costs and an increase in customer engagement and satisfaction (Willis Towers Watson: AI use cases 2024).AI for damage assessmentAdvanced image recognition tools are able to analyse photos from accidents with expert-level accuracy. These systems integrate with estimating platforms to generate repair estimates in minutes rather than days. Fixzy, an Edinburgh based remote visual assistance company, claims its technology enables insurers to assess and settle claims for any type of property damage or accidents instantly. Using hundreds of thousands of images and available data, the platform uses deep learning algorithms to automate damage detection, generate a comprehensive repair plan and calculate costs instantly.Fraud detection systemsAI is being increasingly used for fraud detection to help insurers identify potentially fraudulent claims with remarkable precision. Generative AI paired with human management has taken fraud detection to the next level, helping insurers identify and prevent fraud. Tools help insurers to identify unusual patterns, recognise inconsistencies, and detect signs of ‘staged’ accidents or property damage that doesn’t marry up with the reported incident. Predictive modellingModern insurance AI platforms are able to analyse vast datasets to offer predictive capabilities that were previously impossible. AI powered analytics enables insurers to predict customer behaviour, evaluate risk levels and optimise pricing models, enabling leaders to move from reactive decision-making to pre-emptive action.A range of tools are used for different needs. A main one being; Guidewire predictive analytics – a platform which uses machine-learning algorithms such as simple and deep neural networks, decision trees, GLM/GAM, and text mining to help insurers make data-driven decisions. Insurers using predictive analytics have seen underwriting accuracy improve by up to 15%, leading to reduced claim frequencies and a more efficient underwriting process (Accenture: Why AI in Insurance Claims and Underwriting).Implementation barriers and regulatory scrutiny Despite the benefits, insurers are still experiencing a range of challenges for AI adoption. The most commonly cited barriers include integration challenges with legacy systems, data privacy concerns, a lack of internal controls and security, regulatory uncertainty, and talent and knowledge shortages for implementation. A 2025 global digital trust survey conducted by PWC report that “38% of respondents across various industries indicated inadequate internal controls and risk management around GenAI” (PWC: Responsible AI, how insurers can lay strong foundations to start their AI journey).As AI adoption accelerates, we’re seeing increased scrutiny by regulators to drive ethical and risk adverse strategies. The Association of British Insurers (ABI) and National Association of Insurance Commissioners (NAIC) continue to publish a number of governance frameworks for the responsible adoption of AI, particularly around algorithmic transparency requirements, anti-discrimination protections and data security standards. Future guidance is expected with more detailed regulations, and model laws, which aim to strike a delicate balance between protecting consumers and encouraging innovation.If you’re looking for specialist insurance professionals, need support with your hiring strategy or are looking for a new career opportunity contact one of our insurance consultants.Sources Conning: Artificial Intelligence usage in insuranceDeloitte: Tech trends 2025Geneva Association: Papers on Risk and InsuranceLIMRA: The AI industry todayMcKinsey: Insurance 2030 – the impact of AI on the future of insurancePWC: Responsible AI, how insurers can lay strong foundations to start their AI journeyWillis Towers Watson: AI use cases 2024

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