General Insurance newsletter Friday 11th April 2025

Insurance News

Andy Fairchild, former Broker Network CEO joins IDEX as M&A for CEO - Andy Fairchild has joined IDEX Consulting as CEO of M&A, bringing extensive experience from Applied Systems, AXA Insurance, Footman James and InsurTech firms. His most high-profile role saw him significantly increase Broker Network’s EBITDA, half of which was delivered from organic growth, and half from an expansive M&A strategy. With a strong reputation across the insurance market, Andy will bring a fresh approach to M&A for brokers and MGAs of all sizes and geographies. (IDEX Consulting news, 'Andy Fairchild, former Broker Network CEO joins IDEX as M&A for CEO')
How IDEX accelerated the growth of an independent broker - IDEX Consulting facilitated the acquisition of Morton Insurance Brokers by Specialist Risk Group (SRG), fully delivering Adrian Morton's retirement plans. IDEX's M&A team provided personalised, transparent guidance, leveraging their extensive network to ensure a smooth transition that preserved customer service quality and employee job security. The deal was completed in approximately seven months, benefiting both parties and securing Adrian's legacy. (IDEX Consulting news, 'How IDEX accelerated the growth of an independent broker')
How insurers can be more agile in a digital age- The UK general insurance sector in 2025 faces economic volatility, inflation, and rapid technological disruption, requiring firms to adopt agile strategies, leverage data-driven insights, and be more forward thinking than ever before. The key will be how insurers and MGAs will attract top talent in a challenging, digital landscape. (IDEX Consulting news, 'How insurers can be more agile in a digital age')
How's your mental health? Improve it with these tips - Businesses must prioritise mental health as rising stress from economic pressures, remote work, and social isolation affects employees, with one in seven experiencing mental health challenges; fostering open communication, flexible work, and support programmes needs to be a priority for talent retention and attraction. (IDEX Consulting news, 'How's your mental health? Improve it with these tips')
In an interview with Insurance Age, Andy Fairchild, CEO for IDEX Consulting M&A, discussed the slowdown in UK broker M&A activity in early 2025, with only 19 transactions in Q1, the lowest since Q2 2020, well below the five-year quarterly average of 32. He attributes this decline to a combination of economic pressures, market uncertainty, and a shift in the mindset of buyers and sellers. Fairchild advocates for a fresh, long-term approach to M&A, focusing on strategic alignment and sustainable growth, rather than prioritising speed and volume in deal-making. He also highlights the importance of considering cultural fit and the long-term viability of deals in a rapidly changing market. (Jonathan Swift, 9/4/2025, Insurance Age, 'Fairchild: broker deal slowdown highlights need for “fresh approach” to M&A')
Generali GC&C's 2025–2027 “Next Level” plan builds on past growth, focusing on technical development, multinational client services, and product expansion, supported by leadership changes and a new structure. (Josh Recamara, 11/4/2025, Insurance Business, 'GC&C unveils 2025-2027 strategic plan, leadership appointments')
Lloyd’s of London broker Clegg Gifford has launched a digital platform with MagiClick to streamline motor trade insurance, enabling brokers to quote, bind policies, and manage MID updates, enhancing efficiency and automation. (Josh Recamara, 11/4/2025, Insurance Business, 'Clegg Gifford launches new platform')
Cyber risk specialist Resilience has launched Tech E&O insurance in the UK and Europe, backed by Accredited Insurances, to cover hardware, software, telecom, and web service providers with revenues over £50M/€25M, offering up to £10M/€10M in primary and excess coverage for operational risks like business interruption. (Kenneth Araullo, 10/4/2025, Insurance Business, 'Resilience rolls out new tech E&O policy for UK and Europe')
Fitch Ratings warns that EMEA insurers face secondary impacts from US tariffs, including market volatility, weaker investment returns, and underwriting pressures, though higher European bond yields may offer some support. London market insurers and reinsurers are particularly exposed to US economic risks and currency fluctuations. (Josh Recamara, 10/4/2025, Insurance Business, 'How will European insurers be impacted by Trump tariffs?')
Intact Financial Corp. reported C$244M (US$173.2M) in Q1 catastrophe losses, mainly from severe weather in Canada, the UK, Ireland, and the US. This includes C$47M from US commercial fire incidents and C$30M tied to exited UK home insurance operations. (Kenneth Araullo, 10/4/2025, Insurance Business, 'RSA parent Intact Financial discloses Q1 cat losses')
China is deploying financial regulators and state-backed investors, including insurers, to stabilize its stock market amid US trade tensions, with Central Huijin securing liquidity support from the PBOC. (Kenneth Araullo, 10/4/2025, Insurance Business, 'China taps insurance giants to shore up markets against Trump's tariff war')
BIBA has launched a guide to help members navigate MGAs, which provide underwriting services and access to specialised risks. Head of general insurance Alastair Blundell noted growing MGA use but highlighted regulatory concerns raised by members. (Josh Recamara, 10/4/2025, Insurance Business, 'BIBA releases new MGA guide for members')

Saga plc reported a 5% increase in total underlying revenue to £768.2 million for the year ending January 31, 2025, driven by growth in its travel businesses, with trading EBITDA up 18% to £137.1 million and underlying profit before tax rising 25% to £47.8 million. (Kenneth Araullo, 9/4/2025, Insurance Business, 'Saga posts rise in revenue')
Insurance Capital Markets Research (ICMR) and the Lloyd’s Market Association (LMA) released the second annual Lloyd’s 2025 Insights Report, highlighting Lloyd’s strong performance for 2024 with gross written premiums of £55.5 billion, pre-tax profit of £9.6 billion, and nearly all syndicates reporting an underwriting profit despite major claims, including US hurricanes. (Josh Recamara, 9/4/2025, Insurance Business, 'Lloyd's continues to generate strong returns - report')
Addept Insurance Services, established in 2024, launched its legal expenses insurance suite with two products: Rent Protect ‘Essentials’ for landlords and Officers’ Legal Protection for police officers and their families, already securing contracts covering over 4,000 tenancies and 50,000 Police Federation members. (Josh Recamara, 9/4/2025, Insurance Business, 'Addept Insurance launches first two LEI products')
Willis, a WTW business, launched ProXS, a professional indemnity solution with a CCY40m capacity, offering cost-effective coverage, competitive pricing from Lloyd’s and company market panels, and a streamlined process for mid-term adjustments, with an option for an 18-month policy period. (Josh Recamara, 9/4/2025, Insurance Business, 'Willis launches new professional indemnity solution')
Aviva reported a 14% increase in declined fraud claims in 2024, identifying over 12,700 suspect claims worth £127 million, alongside 98,000 fraudulent applications. This follows a 39% rise in detected fraud in 2023, with the insurer continuing to investigate 14,600 additional claims. (Kenneth Araullo, 8/4/2025, Insurance Business, 'Aviva flags sharp rise in fraudulent insurance claims')
Helios Underwriting reported a 13% increase in NAV per share for the quarter ending December 31, 2024, rising from £1.89 to £2.14, with net assets growing from £140.1 million to £152.6 million. The company generated £15.1 million in profit, added £6.4 million through capacity revaluation, and paid £4.5 million in dividends and share buy-backs. (Kenneth Araullo, 8/4/2025, Insurance Business, 'Helios lifts net assets thanks to Lloyd's market strength')
Resilience is expanding its cyber risk solutions to serve large enterprises with revenues over $10 billion, offering additional options for brokers to address complex cyber risks. This expansion, through a partnership with Accredited Insurance and global cyber reinsurers, builds on Resilience's focus since 2020 on cyber liability and technology errors and omissions coverage. (Josh Recamara, 8/4/2025, Insurance Business, 'Resilience expands to offer services to large enterprises')
Fiducia, a specialist MGA, expanded its risk appetite for combined liabilities insurance, now covering a broader range of UK contractor trades, including builders, electricians, and plumbers. The policy includes employer’s, public, and products liability, supported by A-rated capacity from a major UK insurer. This expansion follows growth in the MGA’s commercial combined lines, particularly in haulage, courier, and warehousing sectors. (Josh Recamara, 8/4/2025, Insurance Business, 'Fiducia expands combined liabilities insurance coverage')
Gallagher’s Q1 2025 edition of 'Plane Talking' highlights aviation insurance market conditions, noting continued market uncertainty and pricing pressure due to recent major losses, including the US$300 million Jeju Air incident. The report warns that both large-scale and attritional losses could shift underwriting portfolios into unprofitable territory for 2024-2025. (Kenneth Araullo, 7/4/2025, Insurance Business, 'Aviation insurance pricing under pressure despite capacity – Gallagher')
Merseyside-based Acorn Group reported its highest-ever financial results for 2024, with a 41% increase in gross written premiums (GWP) to £742 million. The growth was driven by strong performance in car, van, taxi, and household insurance, along with a 30% rise in gross vehicle years. The combined operating ratio (COR) remained under 90%, and the group reported a Solvency Capital Requirement (SCR) of over 160%. (Kenneth Araullo, 7/4/2025, Insurance Business, 'Acorn Group posts record GWP growth')
The gender pay gap in the UK financial sector remains wide, with women earning 78 pence for every pound earned by men in 2024, according to Bloomberg News. While the gap has narrowed slightly by 1.2 percentage points, it remains significantly above the UK-wide average, with insurance firms facing long-standing disparities. (Josh Recamara, 7/4/2025, Insurance Business, 'Revealed – huge gender pay gap in UK financial services')
MNK Group has launched a unified brand that combines its broking, MGA, and risk-taking businesses under one identity. The rebranding, revealed at the company’s annual event on April 3, 2025, aligns with its strategy to present a unified global presence. The move follows the acquisition of Costa Rican insurer Oceánica de Seguros SA in April 2024, strengthening its position in Latin America. (Josh Recamara, 7/4/2025, Insurance Business, 'MNK Group launches unified brand')

Mergers and Acquisitions

The Clear Group has acquired Moore Robinson Ltd, a London-based independent broker specialising in property and construction insurance, with Founder Robin Moore and his team joining Clear’s corporate division to enhance its UK retail capabilities. (Kenneth Araullo, 10/4/2025, Insurance Business, 'The Clear Group expands UK retail insurance operations')
The Broker Investment Group (TBIG) has made its second acquisition of 2025, adding £1M in GWP and opening a new Stratford-upon-Avon branch. Andrew Powell’s portfolio will integrate into The Needham Group, strengthening TBIG’s Midlands presence and bringing its total GWP close to £10M. (Josh Recamara, 10/4/2025, Insurance Business, 'Broker group seals second acquisition of 2025')
WTW’s Quarterly Deal Performance Monitor (QDPM) revealed that companies involved in M&A outperformed the broader market by 1.5 percentage points in Q1 2025, marking the first positive result since late 2022, with North American acquirers continuing to underperform by 2.2 percentage points. (Kenneth Araullo, 8/4/2025, Insurance Business, 'Global M&A deal count falls 22% in Q1 – WTW')

Movers

Markel has promoted Matthew Brooke to Senior Underwriter, War and Terrorism, reporting to Chloe Gordge. With over three years at Markel and eight at W/R/B Underwriting, he will expand the portfolio, address coverage gaps, and mentor junior staff. (Kenneth Araullo, 10/4/2025, Insurance Business, 'FCA chief, Markel senior underwriter, and more insurance appointments announced')
HM Treasury has reappointed Nikhil Rathi as FCA Chief Executive for a second term, following his leadership on major regulatory reforms, including overhauling the UK’s listing regime, implementing the Consumer Duty, and tightening firm authorisation standards to prevent harm. (Kenneth Araullo, 10/4/2025, Insurance Business, 'FCA chief, Markel senior underwriter, and more insurance appointments announced')
Howden has appointed Kirk Southern as Group Chief People Officer, reporting to COO David Shalders. With 15+ years in senior HR roles, he will lead the People Team and develop a global people function. (Kenneth Araullo, 10/4/2025, Insurance Business, 'FCA chief, Markel senior underwriter, and more insurance appointments announced')
Marine insurer Skuld has appointed Thea Thorstensen, previously Head of its Western European business unit, to the global business development team. Nicola Kingman, formerly with the Shipowners’ Club, will join in September as Global Head of Yachts. (Kenneth Araullo, 10/4/2025, Insurance Business, 'FCA chief, Markel senior underwriter, and more insurance appointments announced')
MGA Arkel, part of the Atec Group, has appointed Steve Lewis as Chairman. With 35+ years in insurance, he was CEO of UK & International at RSA, CEO of UK GI at Zurich, and served on the ABI and Pool Re boards. He is currently CEO of Pro Insurance Solutions. (Kenneth Araullo, 10/4/2025, Insurance Business, 'FCA chief, Markel senior underwriter, and more insurance appointments announced')
Helix Underwriting Partners has launched a professional lines programme backed by Somers Re, offering up to $10M in coverage. Matt Irvine, former AXA XL Bermuda leader with 30+ years of experience, joins as Chief Underwriting Officer. (Josh Recamara, 10/4/2025, Insurance Business, 'Helix Underwriting launches new professional lines programme')
Paul Seip has been appointed Head of Fine Art & Specie for European Markets at Arch Insurance, based in Rotterdam, overseeing fine art, general specie, jewellers block, and cash-in-transit lines, with over 12 years of experience from Liberty Specialty Markets, AXA ART, and Allianz. (Kenneth Araullo, 9/4/2025, Insurance Business, 'Insurance hires: Arch, MS Amlin, Van Ameyde Marine')
John Gately has been appointed Head of Strategy, Financial Planning, and Performance at MS Amlin, based in London, bringing 20 years of experience from KPMG, Bernstein Research, HSBC, and Hiscox, with responsibilities for financial strategy, planning, forecasting, and performance measurement. (Kenneth Araullo, 9/4/2025, Insurance Business, 'Insurance hires: Arch, MS Amlin, Van Ameyde Marine')
Chris Boyd has been appointed Managing Director of Van Ameyde Marine’s UK operations, bringing over 30 years of maritime experience, including leadership roles at the Society of Offshore Marine Warranty Surveyors and The Royal Institution of Naval Architects, with expertise in marine cargo, heavy lift operations, and maritime advisory services. (Kenneth Araullo, 9/4/2025, Insurance Business, 'Insurance hires: Arch, MS Amlin, Van Ameyde Marine')
Markel expanded its UK broker-facing teams with multiple appointments, including Chris Dunn as Development Underwriter for South West England and South Wales (formerly Senior Trading Underwriter at RSA), Elaine Holland as South Business Development Manager (previously in development roles at NIG and Paragon Personal Finance), and James Fone as South Key Account Director (with a background in key account management at Travelers and HSB Engineering). New hires in northern England include Vickie Rhodes, North West Business Development Manager (formerly with Altea, Marsh, and Gallagher), Paul Cuddihy, North Key Account Director (previously at RSA, HSB Engineering, and Allianz), and Laurie Witts, Renewals Team Manager (with over 10 years’ experience, including roles at Hiscox, Direct Asia Insurance, and Towergate). Joe McMurrough was appointed Senior Construction Underwriter in Birmingham (with underwriting experience at QBE and Chubb), while Brad Thomas joined as Broker Development Manager – network (previously at Ecclesiastical and 1st Choice Insurance). (Kenneth Araullo, 8/4/2025, Insurance Business, 'Insurance hires: Markel, QRG, Qlaims, Westfield Specialty')
Quick Ralf & Grant (QRG) appointed Dennis Gattinger as Head of Europe, based in Barcelona. He was formerly Head of Distribution at Alta Signa and has held senior roles at ANV and Liberty Mutual Insurance Europe, starting as a Financial Lines Underwriter in 2006. He previously worked as a Legal Advisor in Karlsruhe. (Kenneth Araullo, 8/4/2025, Insurance Business, 'Insurance hires: Markel, QRG, Qlaims, Westfield Specialty')
Qlaims Limited appointed Tom Bartleet as Non-Executive Director, bringing over 30 years of experience in the UK general insurance market. He began his career at Willis in 1992 and later acquired and rebranded Chesham Insurance Brokers to Erskine Murray Insurance Brokers, leading acquisitions including Offley Insurance Brokers and Asciak Holdaway Merritt. (Kenneth Araullo, 8/4/2025, Insurance Business, 'Insurance hires: Markel, QRG, Qlaims, Westfield Specialty')
Westfield Specialty International appointed Nate Field as Class Underwriter for casualty treaty reinsurance, based in London. Field joins from RenaissanceRe, where he was Senior Treaty Underwriter, with nearly 15 years of experience in the reinsurance sector. (Kenneth Araullo, 8/4/2025, Insurance Business, 'Insurance hires: Markel, QRG, Qlaims, Westfield Specialty')
CelsiusPro Group strengthened its climate resilience solutions with the addition of a disaster risk finance (DRF) team from WTW, bringing over 20 years of experience. The team will join Global Parametrics, part of CelsiusPro since September 2023, and will be led by Kay Tuschen, Head of CRS since October 2023. (Josh Recamara, 8/4/2025, Insurance Business, 'Insurance moves: Beazley, Pro Global and CelsiusProGroup')
Pro Global appointed Roman Hannig as Head of Client Engagement and Oliver Schippa as Head of Product for its German operations. Roman joins from Gen Re Corp with expertise in employee disability claims, while Oliver, formerly at Proventum, brings experience in technology, data analysis, and insurance product innovation. Both will work from Pro Global’s Cologne office. (Josh Recamara, 8/4/2025, Insurance Business, 'Insurance moves: Beazley, Pro Global and CelsiusProGroup')
Beazley promoted Sydonie Williams to Head of International Cyber Risks, effective immediately. Williams, who joined Beazley in 2019, played a key role in developing the company's cyber catastrophe bond, and her promotion reflects her leadership and expertise in cyber risks. (Josh Recamara, 8/4/2025, Insurance Business, 'Insurance moves: Beazley, Pro Global and CelsiusProGroup')
Allianz Partners appointed Ludovic Gros as Global Medical Director, overseeing the company’s medical operations and advising on complex cases. Gros joins from IMA Group, bringing over 20 years of experience in emergency, disaster, and aviation medicine, including roles in the French Armed Forces and NATO’s Aeromedical Working Group. (Kenneth Araullo, 7/4/2025, Insurance Business, 'Allianz Partners appoints Ludovic Gros as global medical director')
Dallas Scott Davey (DSD) has appointed Toby Baker to lead its expansion into Northamptonshire and surrounding counties. As part of the broader growth strategy, DSD aims to strengthen its presence in the farm and estates insurance sectors. Baker, with extensive experience in rural risk insurance from his time at Lycetts, will oversee the expansion and increase the client base in Leicestershire, Cambridgeshire, Bedfordshire, and Warwickshire. (Josh Recamara, 7/4/2025, Insurance Business, 'Dallas Scott Davey appoints Toby Baker to lead expansion')