UK market News

Startup Zego Becomes 1st U.K. Insurtech to Get Insurance License

Zego has become the first ever U.K. insurtech to be awarded its own insurance license, which will enable it to build and sell its own products. While Zego will still work in tandem with its growing network of insurer partners, …

U.K. Aims to Ensure Post-Brexit Strength of Financial Services Sector: Minister

Britain will do whatever it can to ensure that its financial sector remains a major global player after Brexit, financial services minister John Glen said on Monday. “This government absolutely believes in the City,” Glen told a conference in London, …

London Retains Status as Top Global Financial Services Center, Despite Brexit Chaos

From the pinnacle of the City of London’s largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with Brexit. The 76-year-old property developer …

U.K. Personal Lines Insurers May Face Curbs on Price Hikes Slapped on Renewal Policies

U.K. home and car insurers could be stopped from jacking up prices when customers’ policies come up for renewal as the country’s financial-markets watchdog clamps down on an industry that’s not giving a “good deal” to about 6 million customers. …

Arthur J. Gallagher & Co. Acquires U.K.’s Anthony Hodges Consulting Ltd.

Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-based broker, announced the acquisition of Anthony Hodges Consulting Ltd. (AHC) in the United Kingdom. Terms of the transaction were not disclosed. Founded in 1996, AHC is a pension, change and reward …

Wholesale Broker H.W. Kaufman Buys U.K. MGA and Cyber Specialist Node International

H.W. Kaufman Group, the Farmington Hills, Mich.-based wholesale broker and managing general agent, announced the acquisition of Node International, a U.K. managing general agent that specializes in cyber risk and technology-related insurance solutions. Financial details of the transaction were not …

Marsh Taps AIG’s Manson, Aon’s Mills for U.K. Mgmt Liability, Wholesale Placement Roles

Marsh, the insurance broker and risk adviser, announced the appointments of Stephanie Pestorich Manson as chief client officer for Management Liability and head of Directors’ & Officers’ (D&O) Product and Jason Mills as wholesale leader in the U.K. Financial & …

U.K. Telematics Insurer Finds Motorists 32% More Likely to Crash on Friday the 13th

Analysis of almost five billion miles of driving data and associated claims in the U.K. shows that Friday is the most likely day for motorists to have a road traffic incident, and when it falls on the 13th of the …

U.K. Insurer RSA Merges Commercial Risk Solutions, Global Risk Solutions Businesses

RSA UK & International has merged its Commercial Risk Solutions (CRS) and Global Risk Solutions (GRS) businesses to create a single business unit focused on commercial lines. This move follows another restructuring in 2016 when the two divisions — CRS …

Arthur J. Gallagher Acquires UK Property-Owner Insurance Broker, RGA Group

Arthur J. Gallagher & Co., the Rolling Meadows, Ill.-headquartered broker, announced the acquisition of three UK insurance intermediaries – Rentguard Ltd., Home & Travel Ltd. and RGA Underwriting Ltd. – collectively referred to as RGA Group. Terms of the transaction …