ldoherty

In early February, the Treasury’s consultation on a UK captive regime closed. The London Market Group has worked closely with market practitioners to develop our response and, through that process, it has been made clear that there is real enthusiasm and excitement amongst captive owners, advisers and other interested parties in the prospect of being able to have a captive insurer in the UK. The phrase that was used time and time again was “the UK has the potential to be a ‘destination domicile’.

Source

Strategic expansion and financial terms

Woodruff Sawyer, operating from 14 US offices and one in the UK, serves middle and large-market clients with a range of risk management and insurance solutions. The firm reported estimated pro forma revenues of $268 million for the 12 months ending December 31, 2024, with an EBITDAC margin of 33%.

Source

Insurance written premiums increased by 10% to $6.16 billion, up from $5.60 billion in 2023, while net insurance written premiums rose to $5.15 billion from $4.70 billion the previous year. Despite the positive financial results, Beazley’s undiscounted combined ratio deteriorated to 79%, compared to 74% in 2023, while the discounted combined ratio stood at 75%, down from 71%. Return on equity also declined to 27% from 30%.

Source

“I’m delighted to see Eaton Gate join imarket and to be able to help them further their digital distribution into the Bravo Networks,” said Simon Bloomfield, head of imarket. “We look forward to working with Eaton Gate, adding more products and supporting them in widening their distribution over the coming months.”

Source

Challenges in data collection and reporting

The Global Burden of Disease study attributed 1.9 million deaths in 2021 to non-optimal temperatures, with cold-related mortality approximately nine times higher than heat-related mortality. However, estimates range from 1.7 million to 5 million deaths, reflecting inconsistencies in data collection.

Source

Bartell has been appointed director in non-marine reinsurance. He brings nearly four decades of market experience, dating back to 1986 at Alexander Howden, followed by positions at Benfield, Gallagher Re and Aon, with specialized expertise in UK specialty and retro placements developed over the past 10 years.

Source

CEO Oliver Bäte (pictured) highlighted the company’s resilience in an uncertain global environment. “In 2024, Allianz delivered another set of record financial results, which are underpinned by strong performance across all segments, consistently high customer satisfaction, and record employee engagement,” said Bäte. “Our renewed strategy, recently announced at our Capital Markets Day, underscores our conviction in growth and our confidence in our resilience and our capabilities.”

Source

“AXA has delivered a very strong performance in 2024, successfully executing in the first year of its strategic plan ‘Unlock the Future’”, said Thomas Buberl (pictured above), chief executive officer of AXA. “We have a clear strategy fully focused on insurance and built around leading businesses, supported by a robust balance sheet.”

Source

“During 1H25, we continued to make accretive acquisitions, grow our businesses organically, optimise subsidiary performance, identify opportunities to hub our equity brokers and focus on margins and expense discipline,” said CEO Robert Kelly (main picture).

Source

The figures come as a recent Freedom of Information (FOI) request identified Northern Ireland as one of the 10 safest UK regions for tool theft. Data showed that there are 13 incidents per 100,000 people annually. North Wales recorded the lowest rate at three incidents per 100,000 people, while London and West Yorkshire had the highest rates, with 592 and 130 incidents per 100,000 people, respectively.

Source