General Insurance newsletter Friday 28th March 2025

Insurance News

Smart 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 Acquisitions

HF 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')

Movers

Allianz 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')