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MGAA: “Chartered status for MGAs will benefit brokers”

But MGAA chair Charles Manchester questions how many MGAs would go for the accreditation. The Managing General Agents’ Association (MGAA) has stated that chartered status for MGAs would be beneficial to the rest of the market, including brokers. This follows the news that the Chartered Insurance Institute (CII) is looking to achieve approval to launch a new Chartered Insurance Underwriting Agents title. MGAA managing director Peter Staddon told Insurance Age: “It will be quite beneficial for MGAs because it would…

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Anscombe hails “significant organic growth” at Seventeen Group

CEO says growth was driven by investment in specialist areas, as the firm continues to invest in IT and make acquisitions. Seventeen Group chief executive Paul Anscombe has said the company is “pleased with its position” after posting increased revenue and Ebitda for the full year 2017.   Anscombe told Insurance Age that the results had been driven by organic growth which was achieved through investment in the firm’s specialist areas of business as well as cross-selling products to existing clients.…

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PLNAR raises $3.9m in new funding

PLNAR, a software startup that generates fully measured 3D models of any room in real-time, has raised $3.9m in a Series A round led by InsurTech, FinTech and ManchesterStory Group. Additional funding comes from The Venture Reality Fund and Colopl Next, Inc. The financing will be used to fund PLNAR’s expansion in the insurance claims and home improvement industries. PLNAR’s property claims solution captures all the data necessary to virtually settle interior insurance claims by allowing the user to easily…

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AFL Insurance Brokers hires new CFO from Towergate

Chris Gagg replaces current CFO Keely Dalfen who will remain as an advisor to the business. AFL Insurance Brokers has hired former Towergate Insurance group head of treasury Chris Gagg as chief financial officer (CFO) and a member of its Board of Directors from 1 September. The independent Lloyd’s broker stated that Gagg has 17 years of experience in insurance and financial services. In addition to Towergate, Gagg has held senior positions at Deloitte UK, Grant Thornton UK and Ernst…

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Allianz takes new CFO from Ageas

Fernley Dyson to replace retiring CFO Mark Churchlow. Ageas chief financial officer Fernley Dyson is moving to take up the CFO role at Allianz from 1 January 2019. Dyson will replace Mark Churchlow who is retiring after almost 30 years with Allianz. He has held the CFO position at Ageas since January 2012 when he joined the firm from Aviva where he had been working for seven years. LeadershipAllianz chief executive officer Jon Dye said: “We are delighted that Fernley…

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High Street Partners acquires Michigan-based insurance agency PMA

High Street Partners, a newly launched buy-and-build strategy platform from Huron Capital, has acquired Peterson McGregor and Associates (PMA), a Michigan-based insurance agency, for an undisclosed price. PMA provides commercial insurance, personal lines and employee benefits services. The insurance agency, which was founded in 2000 in Traverse City with an initial focus on catering to commercial customers across various industries, has expanded to provide personal lines of insurance. While PMA’s personal lines include home owners, auto, umbrella policies and others,…

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CII targeting December 2018 for chartered MGA status

Process involves Privy Council and member approval. The Chartered Insurance Institute (CII) is looking to achieve approval in principle from the Privy Council by December 2018 to launch a new Chartered Insurance Underwriting Agents title. The title would be available to individuals and firms. Steve Jenkins, development director at the CII, told Insurance Age that talks on launching the title had been underway for six months and that the process was “gathering pace” and had “accelerated rapidly”. SupportiveHe noted that…

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Simply Business reveals losses for 2017

Online broker says loss due to costs from Travelers takeover. Xbridge, trading as Simply Business, has reported a pre-tax loss of £470,000 for the year ended 31 December 2017. This is compared to a pre-tax profit of £7.34m in the preceding year. The online broker also posted an operating loss of £438,000 (2016: profit of £7.36m) and a total loss of the year of £317,000 (2016: profit of £6.43m). However, Simply Business’ revenue grew by 18% to £56.83m, compared to…

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Liberty acquires majority stake in Mitchell & Mitchell Insurance Agency

Liberty Company Insurance Brokers has acquired a majority stake in California-based Mitchell & Mitchell Insurance Agency for an undisclosed price. Headquartered in Novato, Mitchell & Mitchell offers all lines of insurance including life, health, commercial, and personal and medical insurance to its client base of professionals. Its clients include dentists, lawyers, CPAS, podiatrists, architects and engineers, and contractors and artisans. The insurance provider serves clients in Los Angeles, San Francisco, San Diego, Sacramento, San Jose and throughout California and also…

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