Articles by Scott McGee
Lloyd’s CEO hails ‘superb’ first half of 2024
Lloyd’s has today announced an overall profit before tax of £4.9bn (HY 2023: £3.9bn) for the first six months of 2024.
Direct Line ‘turnaround underway’ as insurer returns to profit
Direct Line Group has returned to profit after shedding almost 488,000 motor customers in the first half of this year.
Aon UK names Kemp as head of commercial risk
Rob Kemp has been appointed as Aon’s new head of commercial risk for the UK, stepping into the role UK CEO Jane Kielty had left vacant.
Aviva targeting ultra-HNW growth following acquisitions
After completing the integration of the Azur and Axa XL private clients’ business, Aviva’s managing director for high net worth Ann Owen has said the insurer is looking to grow, but not “at any cost”.
FCA is banging its head against a wall on fair value
News Editor’s View: Following yet another thematic review where the Financial Conduct Authority says firms are unable to show fair value, and are even breaching rules, Scott McGee considers how the regulator could tackle poor conduct and asks if a…
Brokerbility targets member GWP growth of 20%
Brokerbility MD John Dunn says that while members are on average growing at about 16% per year, he wants growth to hit 20%.
Q&A: Theo Duchen, Acturis
Theo Duchen, co-CEO and co-founder of Acturis, discusses Astorg’s increased stake in the company, how best to implement artificial intelligence, and why he thinks his business is well placed to take on rivals in the US and Canada.
Biba brings in Pen’s Downey to replace retiring Manchester
British Insurance Brokers’ Association CEO Graeme Trudgill has announced Pen Underwriting’s Tom Downey will take Charles Manchester’s seat on its Network and Managing General Agents advisory board.
Q&A: Mike Keating, MGAA
Mike Keating, CEO of the Managing General Agents’ Association, discusses the buoyancy of managing general agents, some of the struggles in the high-net-worth space, and what he hopes his organisation will achieve by the end of 2025.
FCA uncovers little progress on Gap insurance value
The Financial Conduct Authority has today (21 August) released its latest fair value measures data, which shows while there has been progress on the proportion of premiums paid out in guaranteed asset protection claims, it is still low.
How ‘Baby Reindeer’ and streaming services are affecting insurance
As the way we consume media changes, Scott McGee considers how the furore over Baby Reindeer, and changing nature of the content we watch has had an impact on insurance.
Lycetts appoints Ian Barclay as CEO
Lycetts has announced the appointment of Ian Barclay as its new CEO, succeeding Charles Foster.
Tysers owner AUB takes 80% stake in Movo Group
AUB has agreed to acquire an 80% equity stake in Movo, including its AR network Movo Partnership, its equity broking group, Movo Insurance Brokers, and insurance technology platform, Durell Software.
Q&A: Joe Hantson & Carl Cripps, Direct Commercial
Direct Commercial’s deputy CEO Joe Hantson and claims director Carl Cripps discuss the changing make-up of fleet customers, bringing staff back in five days per week, and the growth of the business over the last 22 years and beyond.
Allianz UK spending £400m on change by end of 2025
Colm Holmes, CEO of Allianz Holdings has said the company is spending £200m this year and the same amount again next year on change within the UK business.
Is it time to ditch lithium ion batteries?
News Editor's View: Scott McGee considers if government legislation to make lithium ion batteries safer is too little too late for electric vehicle insurers and whether providers’ appetites for covering such cars will only return when manufacturers…
Allianz UK profits surge 55%
Allianz UK has reported a 55% increase in operating profit to £174.8m for the first six months of 2024, compared with £112.8m for the same period in 2023.
Rumoured CGT hike leaving brokers scrambling for a sale
In preparation for the potential hikes in capital gains tax, brokers are already speaking with consolidators and larger brokers in an attempt to accelerate a sale and avoid the higher tax rates, Insurance Post can reveal.
Allianz dispenses musical instrument book to Howden
Howden has agreed to acquire the musical insurance book from Allianz UK.
Q&A: Chris Rolland, AllClear & InsureandGo
Following the sale of InsurEvo, the parent company of AllClear and InsureandGo, CEO Chris Rolland talks about what that means for the broker moving forward, the travel insurance market following the pandemic, and how he hopes to implement more artificial…
FSCS pays out £160m for failed insurers in 2023/24
The Financial Services Compensation Scheme paid out £423m in compensation to customers during 2023/24, with £160m of that going to customers of failed insurers – less than it had predicted.
FCA takes first steps to achieve proportionate regulation
The Financial Conduct Authority is looking for comment on the level of regulation regarding commercial and bespoke insurance products and companies, while also opening its review of requirements following the introduction of the Consumer Duty.
Markerstudy Group to acquire Hughes Insurance
Markerstudy Group has announced plans to acquire Hughes Insurance, subject to regulatory approvals and customary conditions, its first deal since gaining FCA approval on its merger with Atlanta.
Brokers and freeholders to face lawsuit over insurance commission
The class action, launched by a City lawyer and leaseholder, Liam Spender, is backed by law firm Velitor, which has secured funding for the no win, no fee claims from Balance Legal Capital LLP.