Managing general agent and Lloyd’s syndicate Carbon Underwriting Limited has named Alex Poracchia (pictured) as its new chief financial officer. He brings 30 years of financial leadership experience from previous roles at Swiss Re, Zurich, and Everest Insurance.

Atrium Underwriters Limited has started a trial of Novee’s generative artificial intelligence underwriting tool, which automates the pre-underwriting of political violence and terrorism submissions. It helps underwriters flag out of appetite submissions and to identify good and bad risk indicators.

The latest Confused.com Car Insurance Price Index in association with WTW has recorded a 16% fall in motor insurance premiums during the past year. The data identified this as the biggest yearly fall since 2014 and it followed a prolonged rise in premiums from 2021 to 2023.

Insurance provider CFC has appointed Matthew Glenville (pictured) to the newly created position of group chief operating officer. He will be tasked with streamlining operations across the firm’s underwriting, technology and business operations teams.

Cycle insurance specialist Bikmo has agreed a partnership with premium cycling brands Santa Cruz and Cervélo. The deal affords new owners of Santa Cruz and Cervélo bikes access to Bikmo insurance that covers the bike as well as the rider’s gear and accessories.

The Chartered Insurance Institute has recorded consumer satisfaction with insurance at 84% in Q4 2024, down from the 86% achieved a year earlier. It found that just 14% were extremely satisfied with insurance, the lowest level reported since the professional body started collecting the data in 2019.

UK insurtech Urban Jungle has launched its travel insurance proposition to sit alongside its home insurance offering. The multi-line provider now offers single trip and annual multi-trip travel policies providing cover for losses such as medical emergencies, cancellations, delays and lost luggage.

Construction managing general agent Phoenix Specialty has named Andrew Charlton (pictured) as its new managing director. He joins from Consort Technical Underwriting Managers. He replaces Tim James, who becomes chief executive officer of Phoenix Global. The business said the moves reflected strategic investments made by Vector Investment Capital Holdings and Acies MGU.

PIB Group Ltd has appointed Michael Hendricks (pictured) as chief commercial office in Europe. He will have responsibility for developing its international strategy and portfolio of businesses to replicate what the group offers in individual markets across Europe. He joins from Aon Germany where he has been for more than 20 years, most recently serving as managing director.

Managing general agent Commercial Express has added Irwell Insurance Company to its panel of insurers. Effective from January 2025, the move offers an alternative option for some of Commercial Express’ liability schemes. Irwell was established in 1994 and has an AM Best’s Financial Strength Rating (FSR) of B++ (Good).

Managing general agent trading platform White Bear Managers Ltd has recruited Tara Woodward as bloodstock underwriter and Madeline Long as bloodstock underwriting assistant to support its expansion into covering bloodstock risks. The platform is part of White Bear Group which also includes Lloyd’s Managing Agency, Blenheim Underwriting Ltd. Woodward and Long both join from Castel Specialty.

Pen Underwriting has appointed Robert Dobson (pictured) as claims manager for its diverse and growing marine portfolio. Dobson brings more than 40 years of marine loss adjusting experience to the roll. Pen’s marine portfolio ranges from ports and terminals, marine trades and brown water hull to marine professionals, war risks and kidnap and ransom. The MGA recently launched a London market yachts specialism.

Delegated authority technology specialist VIPR Solutions has signed multi-year contracts with three significant operators within the Lloyd’s market. The deals strengthen VIPR’s position in market and it now handles an estimated £10bn of delegated authority premiums for the Lloyd’s operators.

AI-powered underwriter of complex supply chain risks Parsyl Inc, has secured more than £16m in Series C funding. Private equity firm The Lightsmith Group led the funding round. Parsyl is active in the US and London insurance markets through a managing general underwriter and its own managed syndicate at Lloyd’s.

Managing general agent Corin Underwriting has said brokers want MGAs to undergo AM Best performance assessments and that the results of such reviews would influence their decisions on which MGAs to partner.

The Lloyd’s Market Association has stated its priorities for 2025 as promoting a simplified and digitised market, regulatory advocacy, technical expertise, and culture. The professional body said these priorities would support its purpose to maintain Lloyd’s market’s position in the vanguard of the global insurance sector.