General Insurance newsletter Friday 7th February 2025

Insurance News

How predictive analytics is shaping the insurance sector - Predictive analytics is transforming the insurance sector by improving fraud detection, optimising customer experience, streamlining claims processing, and enabling personalised pricing. Insurers are increasingly using large data sets and machine learning to predict outcomes, detect anomalies, and deliver more tailored services. These tools not only boost operational efficiency but also improve profitability and customer satisfaction. As AI and other technologies evolve, predictive analytics will continue shaping the industry by offering deeper insights and agility. (IDEX Consulting news, 'How predictive analytics is shaping the insurance sector')
The gender parity challenge for insurance professionals - The insurance industry faces ongoing gender parity challenges, especially in leadership roles, where women and ethnic minorities remain underrepresented. Gender pay gaps and unconscious biases persist, alongside a shortage of female role models and mentorship opportunities. Effective diversity strategies, targeted recruitment, and addressing pay gaps are key to improving equality. Employers are encouraged to invest in long-term bias training and mentorship programmes to foster growth and provide clear career progression for women. (IDEX Consulting news, 'The gender parity challenge for insurance professionals')
How to negotiate a pay rise - It’s important to research comparable salaries, highlight your value through documented achievements, and be prepared to discuss your contributions. If a pay increase isn't possible, explore other benefits like career development or flexible working arrangements. It's also crucial to make the discussion about mutual benefit for both you and the company. Read our advice piece that includes strategic advice from our recruiters on how to negotiate a pay rise effectively. (IDEX Consulting news, 'How to negotiate a pay rise')
The impact of robo advisers on the FS market- Robo-advisers are reshaping the financial services market by offering cost-effective, automated investment advice to a broader audience. They democratize access to wealth management services, particularly benefiting younger, tech-savvy investors. However, they face challenges in personalised advice and complex financial situations. Traditional financial advisers remain crucial for high-net-worth clients seeking tailored strategies. Robo-advisers also drive firms to innovate and enhance their digital offerings. (IDEX Consulting news, 'The impact of robo advisers on the FS market')
Aviva GCS has introduced political violence & terrorism and accident & health insurance to the Lloyd’s market via Probitas, following its July 2024 acquisition, with binding available from February 1, 2025. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Aviva launches PVT and accident & health insurance via Lloyd’s market')
Rokstone has launched a $10 million Lloyd’s-backed D&O and PI combined facility for financial institutions in the UK, Europe, and the Caribbean, targeting private equity firms, hedge funds, investment managers, and credit institutions. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Rokstone launches US$10 million Lloyd's-backed D&O and PI facility')
The FCA’s new commission disclosure rules (Dec 2023) have intensified scrutiny on transparency in multi-occupancy buildings insurance, raising questions about MGAs’ regulatory position. The MGAA has lobbied to establish MGAs as insurers' agents, not intermediaries, ensuring clarity for members amid evolving regulations. (Mia Wallace, 6/2/2025, Insurance Business, 'Securing clarity from the FCA on commission disclosure rules for MGAs')
The Cyber Monitoring Centre (CMC) has launched as a world-first initiative to categorise major cyber incidents affecting UK organisations, ranking severity from one (least) to five (most). Chaired by former NCSC CEO Ciaran Martin, the CMC will assess incidents with a potential financial impact over £100 million. Edward Lewis, CEO of CyXcel, highlighted its origins in response to market concerns over the Lloyd’s cyber war bulletin, aiming to bring clarity to attribution, exclusions, and insurance implications. (Mia Wallace, 6/2/2025, Insurance Business, 'Behind the scenes of a world-first launch – the Cyber Monitoring Centre')
Allianz UK identified 33,027 insurance fraud cases in 2024, totalling £157.24 million—a 10% rise from 2023. With 90 cases daily (£430,000), claims fraud accounted for £141 million, while application fraud exceeded £15 million. The trend extends beyond Allianz, as Ecclesiastical also prevented over £4 million in fraudulent claims, up nearly £1 million from 2023. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Allianz UK reports £157 million in insurance fraud cases for 2024')
Aviva’s GCS division has expanded into Lloyd’s via Probitas, introducing political violence & terrorism (PVT) and accident & health insurance, available for binding from Feb 1, 2025. PVT, a new business line under the GCS Crisis Management Division, covers risks like civil commotion, riots, strikes, terrorism, and war for international businesses. This follows Aviva’s July 2024 acquisition of the platform, aligning teams over seven months to enhance market reach and integrate the syndicate into its operations. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Aviva launches PVT and accident & health insurance via Lloyd’s market')
Litica has secured Lloyd’s approval to extend its coverholder status to Europe, adding to its UK and Asia-Pacific authorisation. Litica Europe now has full delegated authority to underwrite commercial litigation insurance, with adverse costs limits up to €15 million—one of the highest granted in the sector. (Josh Recamara, 6/2/2025, Insurance Business, 'Lloyd's coverholder gets European boost')
AEGIS London has launched a Lloyd’s consortium to cover complex political violence risks, offering policy limits up to $100 million. The single-source solution, led by War and Terrorism Underwriter James MacDonald, covers threats like sabotage, riots, insurrection, and war across sectors including retail, industrial, logistics, and construction. (Josh Recamara, 6/2/2025, Insurance Business, 'AEGIS London launches Lloyd's consortium on political violence risks')
The MGAA continues its rapid growth, welcoming Addept Insurance Services as a new member. Founded in May 2024 by Richard Finan, former Arc Legal Assistance Director, Addept operates a hybrid model across capacity, distribution, and strategy. MGAA CEO Mike Keating encouraged its active participation in raising industry standards. (Josh Recamara, 6/2/2025, Insurance Business, 'Addept Insurance joins MGAA')

The MGAA continues its rapid growth, welcoming Addept Insurance Services as a new member. Founded in May 2024 by Richard Finan, former Arc Legal Assistance Director, Addept operates a hybrid model across capacity, distribution, and strategy. MGAA CEO Mike Keating encouraged its active participation in raising industry standards. (Josh Recamara, 6/2/2025, Insurance Business, 'Addept Insurance joins MGAA')
Howden Group reported a 23% increase in adjusted revenue to £3.01 billion for FY 2024, up from £2.44 billion in 2023. Organic revenue grew 15%, and adjusted EBITDA rose to £922.2 million with a steady margin of 31%. Growth was seen across divisions, with insurance broking up 14%, reinsurance up 30%, and DUAL (MGA) up 6%. New teams in sectors like treaty reinsurance, aviation, and construction contributed 30% to organic growth, alongside expansion in Australia, Greece, the Middle East, Singapore, and Japan. (Kenneth Araullo, 5/2/2025, Insurance Business, 'Howden group revenue surges 23% to £3 billion in 2024')
Global commercial insurance rates dropped by 2% in Q4 2024, marking the second consecutive quarterly decline after seven years of increases, according to Marsh's Global Insurance Market Index. The decline follows a 1% drop in Q3 and reflects pricing moderation across multiple lines. Marsh attributed the decrease to increased competition in commercial property, stabilisation in financial lines, moderated casualty increases, and lower cyber insurance rates. Regional trends included an 8% decline in the Pacific, 5% in the UK, 3% in Asia, and 2% in Europe and Canada. (Kenneth Araullo, 5/2/2025, Insurance Business, 'Global commercial insurance rates drop 2% in Q4 – Marsh')
Willis Towers Watson is shifting focus to mergers and acquisitions (M&A) after meeting key earnings and revenue targets in 2024. The company reported Q4 adjusted earnings of $8.13 per share, surpassing analysts' estimates, with full-year earnings of $16.93 per share. CEO Carl Hess stated that, after prioritising core strategies, WTW is now seeking external capabilities to add value. Since Hess took over in January 2022, WTW's stock has risen 39%, outperforming the industry benchmark. (Josh Recamra, 5/2/2025, Insurance Business, 'WTW to shift focus after smashing targets')
Zurich has enhanced its private client proposition with updated home and motor products, effective immediately for both new and existing clients. The insurer increased its 'green cover' from £5,000 to £25,000 to support sustainable property repairs. In response to inflation, Zurich now covers up to 200% of jewellery valuations, or an additional £100,000, for items whose value has increased within the last three years. (Josh Recamara, 5/2/2025, Insurance Business, 'Zurich enhances private client offerings')
SCOR reported a 9.6% increase in estimated gross premium income (EGPI) for its January 2025 P&C reinsurance renewals, maintaining underwriting discipline and expanding in preferred business lines. Despite increased capital supply making the market slightly more competitive, SCOR upheld stable terms and conditions while maintaining net profitability in its P&C reinsurance portfolio as part of its Forward 2026 growth strategy. (Kenneth Araullo, 4/2/2025, Insurance Business, 'SCOR reports 9.6% growth in P&C reinsurance renewals for 2025')
Everest Group reported a net loss of $593 million for Q4 2024, primarily due to reserve strengthening in US casualty lines, compared to a net income of $804 million in Q4 2023. For the full year, the group achieved 9.2% total shareholder return, with gross written premiums of $18.2 billion, reflecting 9.1% growth overall, 12.2% for Reinsurance, and 4.0% for Insurance. (Josh Recamara, 4/2/2025, Insurance Business, 'Everest Group posts full-year premium growth despite Q4 losses')
Auxillis has partnered with Howden UK&I’s corporate and commercial division to provide claims management services, including vehicle replacement, repair services, and full first notification of loss (FNOL) provision. The partnership offers Howden’s corporate clients a comprehensive solution for post-incident management, covering information gathering, liability assessment, vehicle recovery, repair coordination, and replacement vehicle hire. Financial terms were not disclosed. (Josh Recamara, 4/2/2025, Insurance Business, 'Auxillis partners with Howden for claims management services')
Gallagher reported continued revenue growth, with Q4 2024 total revenues reaching US$2.68 billion, up from US$2.39 billion in 2023. Net earnings were US$258.2 million, a turnaround from a net loss of US$39.6 million in Q4 2023. The brokerage segment saw a revenue increase to US$2.3 billion, up from US$2.05 billion, with net earnings rising to US$317.3 million from US$24.8 million. Adjusted net earnings were US$491.2 million, up from US$402.4 million in Q4 2023. (Kenneth Araullo, 3/2/2025, Insurance Business, 'Gallagher Bassett grows specialty claims services with W K Webster deal')
Aon reported fourth-quarter revenue of $4.1 billion, a 23% increase from the previous year, driven by acquired revenues from NFP and 6% organic growth. Risk capital revenue rose 13% to $2.5 billion, while human capital revenue increased 41% to $1.6 billion. Operating income grew 40% to $1.1 billion, with an operating margin of 26.3%, and adjusted operating income rose 21% to $1.38 billion, though the adjusted margin slightly declined to 33.3%. (Josh Recamara, 3/2/2025, Insurance Business, 'Aon reports notable growth in revenue in fourth quarter')

Mergers and Acquisitions

The Clear Group has acquired Dublin-based Phelan Caswell Insurances (PCI), including its financial planning assets, as part of its Irish expansion, with PCI’s leadership and 18 staff remaining in place. Managing Director Mark Phelan said the deal will enable them to offer a wider range of products and services with greater access to expertise and solutions. (Josh Recamara, 7/2/2025, Insurance Business, 'Clear Group buys Dublin-based insurance broker')
Macbeth has acquired Insurance Services Surrey (ISS), boosting its Group GWP to £45 million and expanding its Reading team to 73, with ISS leadership and staff staying on board. The move aligns with Macbeth’s strategy to grow while prioritising client service and workplace culture. (Josh Recamara, 7/2/2025, Insurance Business, 'Macbeth completes insurance acquisition')
JAB Holding, the German investment firm behind Krispy Kreme and Pret A Manger, has acquired Prosperity Life from Elliott Management for over $3 billion, marking its entry into US life insurance and positioning it against Wall Street giants like Apollo and KKR. (Josh Recamara, 7/2/2025, Insurance Business, 'Krispy Kreme owner swoops for insurance firm')
Miller has reached an agreement to acquire AHJ Holdings Ltd, parent company of Alwen Hough Johnson Ltd and AHJ Europe AS, with the deal expected to close in Q2 2025. The acquisition will enhance Miller's treaty reinsurance capabilities and expand its presence in the Nordic, Caribbean, and North American markets. AHJ, founded in 1973, specialises in property, casualty, marine, and energy reinsurance, with 90 employees across London and Scandinavia. (Kenneth Araullo, 4/2/2025, Insurance Business, 'Miller to acquire AHJ Holdings, expanding reinsurance capabilities')
Gallagher Bassett, the claims and risk management subsidiary of Arthur J. Gallagher & Co, has acquired W K Webster & Co Ltd, a marine and transit claims management firm. W K Webster, headquartered in London with offices in Singapore, the US, and the Netherlands, provides global claims management services. Anthony Smith and the W K Webster team will join Gallagher Bassett and report to Manan Sagar, who leads operations in Europe, the Middle East, and Asia. The acquisition strengthens Gallagher Bassett’s specialty capabilities in marine and transit claims. (Kenneth Araullo, 3/2/2025, Insurance Business, 'Gallagher Bassett grows specialty claims services with W K Webster deal')
Howden is in discussions to acquire US-based Risk Strategies, with talks involving Risk Strategies' private equity backer, Kelso & Co. The deal is not yet final, according to sources. Acquiring Risk Strategies, one of the largest privately held US insurance brokers, would mark Howden’s expansion into the American retail insurance market, a move widely anticipated. Howden is also viewed as a potential candidate for an initial public offering. (Kenneth Araullo, 3/2/2025, Insurance Business, 'Howden in negotiations to acquire US-based Risk Strategies')

Movers

Westfield Specialty International has appointed Harry Brantingham as a General Liability Underwriter in London, reporting to Paul Davidson; he joins from AXA XL after nearly seven years in underwriting roles. (Josh Recamara, 7/2/2025, Insurance Business, 'Insurance moves: Westfield Specialty, Wrisk, More')
Wrisk has appointed Christen Smith as Director of platform sales (UK and Europe), a new role supporting its expansion in embedded insurance for automotive brands; she joins with leadership experience at Zurich and other insurtechs, reporting to COO Shiv Bhaduri. (Josh Recamara, 7/2/2025, Insurance Business, 'Insurance moves: Westfield Specialty, Wrisk, More')
Sompo has appointed Lily Claydon as Chief Risk Officer for APAC, effective March 3, 2025; she brings senior risk management experience from AIG, BoltTech, and FWD Group and holds a CFA and a double master’s from the University of Sydney. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Sompo names Lily Claydon chief risk officer for APAC')
Ignite Specialty Risk has appointed Matthew Evans as Litigation Portfolio Manager in London, reporting to Jamie Molloy. Previously Of Counsel at RPC, Evans specialised in commercial and financial disputes after starting his career at Latham & Watkins. Twice recognised in the Legal 500, he was praised as an “outstanding litigator” in 2020. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Insurance hires: Ignite Specialty Risk, WTW, Insurwave')
WTW has appointed Derrick Easton as Global Head of Alternative Risk Transfer (ART) and Head of Western Europe for risk and analytics. Easton, who joined Willis in 2015, previously led the ART team in the U.S. He will focus on expanding ART globally and strengthening WTW’s Risk and Analytics in Western Europe, reporting to John Merkovsky and Hugo Wegbrans. Easton’s career began in 1994, with roles at Marsh and Aon in sales, client service, and alternative risk solutions. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Insurance hires: Ignite Specialty Risk, WTW, Insurwave')
Insurwave has appointed Premal Gohil as Chief Financial Officer, effective February 4, 2025. Gohil will shape the company’s financial strategy, enhance operational efficiency, and support growth. With leadership experience at Beazley, Liberty Mutual, and PwC, he brings expertise in financial management, innovation partnerships, and risk navigation, aimed at improving risk management accuracy and efficiency. (Kenneth Araullo, 6/2/2025, Insurance Business, 'Insurance hires: Ignite Specialty Risk, WTW, Insurwave')
SCOR Business Solutions has appointed Holger Schaefer as Global Head of Casualty and Environmental Impairment Liability (EIL), effective March 1. With 35 years at Allianz, Schaefer held senior roles in casualty underwriting and sales, including CEO for AGCS Pacific and regional CEO for APAC at Allianz Trade. (Kenneth Araullo, 5/2/2025, Insurance Business, 'SCOR names Holger Schaefer global head of casualty & EIL')
Dan Fiehn has rejoined Markerstudy Group as CTO, overseeing technology strategy alongside CIO Adam Miller and CTO Tara Walker. With 35+ years in insurance, Fiehn previously developed Markerstudy's IT division and integrated Co-op Insurance. A three-time CIO Top 100 Leader, he holds a BA in Law with Financial Services and is a Fellow of the BCS. (Kenneth Araullo, 5/2/2025, Insurance Business, 'Dan Fiehn returns to Markerstudy as CTO to drive tech strategy')
Pen Underwriting has restructured to streamline commercial underwriting across the UK and Ireland, creating the Commercial UK & Ireland division. Sarah Breslin has been appointed Managing Director. The move follows Pen's 2024 expansion into Ireland with Wrightway Underwriting. Richard Webb, Managing Director of UK Financial Lines & Specialty Liability, will retire later this year after nearly four decades in the industry. (Roxanne Libatique, 5/2/2025, Insurance Business, 'MGA announces shake-up as big name retires')
The Chartered Insurance Institute (CII) has appointed Adam Harper as Executive Director of strategy, advocacy, and professional standards, and Holly Porter as Executive Director of markets and opportunities, both effective in early March. Harper joins from the Association of Accounting Technicians (AAT), where he oversaw professional standards and policy. Porter joins from BCS, the Chartered Institute for IT, where she led the professional membership community and registrations portfolio. (Josh Recamara, 5/2/2025, Insurance Business, 'CII appoints two new executive directors')
HDI Global has appointed Geoff Godwin as Chief Operating Officer for the UK and Ireland, effective April 28. With 32 years of industry experience, Godwin previously served as COO at AIG, overseeing underwriting operations, customer complaints, conduct, and product development. (Josh Recamara, 5/2/2025, Insurance Business, 'Insurance hires: HDI Global, DUAL UK, Lockton and Carrow Insurance')
DUAL UK has made three senior appointments to support its growth strategy. Steve Kelly, with over 35 years of industry experience including roles at RSA and Allianz, has been appointed Managing Director of construction, focusing on expanding DUAL’s construction portfolio. James Ramira, a DUAL UK veteran since 2014, becomes Managing Director of regional P&C and social care, overseeing regional and commercial expansion. Georgie Petrou, previously with Chubb, Zurich, and Marsh, is appointed Head of Strategic Accounts. (Josh Recamara, 5/2/2025, Insurance Business, 'Insurance hires: HDI Global, DUAL UK, Lockton and Carrow Insurance')
Lockton has appointed Mark Jones as its new International Chief Financial Officer, effective immediately. Jones, who has over 20 years of financial leadership experience, joins from Marsh, where he was CFO for Mercer Marsh Benefits and Marsh Specialty and Global Placement. As international CFO, he will oversee financial management and investment strategies across Europe, MENA, Asia-Pacific, and Latin America. (Josh Recamara, 5/2/2025, Insurance Business, 'Insurance hires: HDI Global, DUAL UK, Lockton and Carrow Insurance')
Carrow Insurance has appointed Matt Davis as Business Development Underwriter, based in Dublin and reporting to CEO Ronan Conboy. With over 30 years of industry experience, Davis was previously Head of Underwriting at Euro Insurances DAC, managing a portfolio across 14 product lines in 20 European countries. (Josh Recamara, 5/2/2025, Insurance Business, 'Insurance hires: HDI Global, DUAL UK, Lockton and Carrow Insurance')
TransRe has promoted Louise Rose to President, International, overseeing London, EMEA, and Asia Pacific operations, while continuing as CEO of TransRe London. Kyle Rhodes has been named President, Americas, expanding his role to include oversight of TransRe’s Latin American business. These changes follow the retirement of Andy Taylor, effective May 31. (Kenneth Araullo, 4/2/2025, Insurance Business, 'TransRe announces leadership changes as Andy Taylor retires')
Tokio Marine HCC (TMHCC) International has appointed Stuart Heath as Head of Distribution – international, a new role to strengthen distribution relationships across the UK and Europe. Heath, who will continue as Head of Delegated Property, will collaborate with business units to enhance service delivery and support TMHCC's specialty products in the region. He reports to Simon Button, Chief Underwriting Officer. (Kenneth Araullo, 4/2/2025, Insurance Business, 'TMHCC appoints Stuart Heath to strengthen UK & European distribution')
Arch Insurance UK Regional Division has promoted Ian Grundy, Janice Mullan, Tony O'Reilly, and Janine Starkie to Regional Manager roles for the Midlands & South West, South & Thames Valley, London & Home Counties, and North & Scotland, respectively. These moves align with the division’s growth strategy, enhancing collaboration and service delivery. Grundy was previously a Strategic Relationship Manager at AXA UK, Mullan a Broker Development Manager at Arista Insurance, O'Reilly Branch Manager at Fusion/Arista, and Starkie a Sales Manager at AXA UK. (Kenneth Araullo, 4/2/2025, Insurance Business, 'Arch Insurance UK promotes four to regional manager roles')
AXA Climate launched Climate Studio to help organisations communicate their ecological transition more effectively. The initiative offers brand strategy, campaign design, and communication services, focusing on boosting climate-related messaging and driving action on sustainability. Claire Bayet, who has a background in climate and inclusion issues, has been appointed to lead the project. Bayet previously served as Strategy Director at BETC, specialising in climate and inclusion, and has supported public interest campaigns on anti-smoking and gender equality. (Josh Recamara, 4/2/2025, Insurance Business, 'AXA launches new climate initiative')
Marek Garwacki has been appointed Non-Life Chief Underwriting Officer at PartnerRe, effective February 1. Garwacki, who has over 12 years with PartnerRe, previously served as Head of Group Retrocession and Chief of Staff. He has held various leadership roles in underwriting, strategy, and portfolio management, including overseeing specialty lines and legacy reinsurance projects. Before joining PartnerRe, Garwacki worked at AXA and held roles at the French Treasury and insurance regulator ACPR. (Kenneth Araullo, 3/2/2025, Insurance Business, 'PartnerRe appoints Marek Garwacki as non-life chief underwriting officer')
Specialty MGA UK has appointed Sam Hui as Senior Underwriter for onshore construction and energy, expanding its capacity in the sector. With over 30 years of experience, Hui previously worked at Advent Syndicate 780, building a global network of brokers, insurers, and agents. His appointment aligns with Specialty MGA UK’s expansion strategy. (Kenneth Araullo, 3/2/2025, Insurance Business, 'Specialty MGA UK hires Sam Hui as senior underwriter for construction and energy')