Marsh’s latest Global Insurance Market Index recorded a 3% fall in global commercial insurance rates in Q1 2025. This follows the 2% dip in Q4 2024 and is the third consecutive quarterly fall after seven years of rising rates. In the UK, rates were down by 6%. Marsh said the softening market was due to increased capacity from both new entrants and existing providers.

Three of JMG Group’s firms - GS Group, Greenwood Moreland, and Lighthouse Risk Services – have added new businesses to their operations. GS Group has acquired Scottish broker W K Insurance; Greenwood Moreland has acquired York-based UKI Direct; and Lighthouse has acquired Leeds-based TSE Solutions Ltd.

Global Parametrics, which is part of CelsiusPro Group, has signed a deal to become coverholder to Canopius Lloyd’s Syndicate 4444 and will build a global portfolio of parametric business for Canopius under a binding authority agreement. Initially, Global Parametrics will focus on providing cover for perils such as tropical cyclone, earthquake, flood, and excess rainfall.

Demand for marine war cover has driven managing general agent Amphitrite Underwriting London to secure additional Lloyd’s capacity of approximately £30m and enable it to provide more options and broaden the reach of the available cover. Coverage includes physical loss or damage to the vessel caused by a war peril, loss of hire/earnings as a result of a war peril and drugs seizure cover for innocent owners and operators.

A £1.2m compensation claim against insurance provider 1st Central has been dismissed. The claimant said he had suffered injury and psychological trauma following a motor accident and although he was awarded damages the claim was dismissed under Section 57 of the Criminal Justice and Courts Act 2015. A subsequent claim for £1.2m in compensation for lifelong damages was dismissed, leaving the claimant to cover 1st Central’s legal bill of £100,000.

Admiral Group plc has struck an agreement with investment firm JC Flowers & Co to sell its US motor insurance business, including Elephant Insurance Company and Elephant Insurance Services. The deal is subject to regulatory approval and is expected to close in the final quarter of the year.

To support an increase in new business in Scotland, Ecclesiastical Insurance has opened a new regional office in Glasgow and has recruited two new employees to double the size of its team north of the border. The office opens on 24th April and will form part of Ecclesiastical’s northern region, led by regional director Andy Williamson.

Cover for unoccupied homes and those at risk of flooding top the growing demand from brokers for non-standard products in the home and motor segments, according to Prestige Underwriting. The managing general agent said its latest broker survey found there had also been a rise in broker demand for cover for high performance vehicles and properties at risk of subsidence.

Axa UK has warned of a spike in the number of empty commercial properties being targeted by criminals. The insurer said it had experienced a jump in criminal activity in the past three months, building on an underlying trend of increased criminality over the past five years. It cited fly tipping, vandalism and theft as the main issues.

Alan Boswell Group has acquired East Suffolk commercial brokerage Andrew Thompson & Associates. The deal adds to the two Norfolk-based brokers acquired in 2024. Andrew Thompson & Associates was established in 2010 and its team and its premises will be retained and integrated into Alan Boswell Group.

Professional services and technology firm Davies has opened an office in Doha, Qatar which adds to the presence it already has in the region through its forensic accounting office in Dubai. Ricky Maloney, Qatar country executive and head of GCC region for Davies will lead the Doha office.

Markel, which is part of Markel Group Inc, has agreed to purchase The Meco Group Limited, which was founded in 1974 and is a marine focused managing general agent operating out of London, Dubai and Shanghai. Meco has three core insurance brands – The Charterers P&I Club, Transmarine and Aurora P&I.

The Chartered Insurance Institute has announced that six firms achieved chartered status in Q1 of this year, having demonstrated their technical competence and commitment to professional standards. In addition, the firms must adhere to the CII Code of Ethics and commit to building trust and ongoing professional development of both their personnel and their business.

Insurtech Marshmallow has raised approximately £70m in Series C funding which values the business at around £1.5bn. Portage Capital led this latest round which was also supported by BlackRock and Columbia Lake Partners. The firm said it would use the investment to expand its proposition beyond motor insurance and to create a broader financial services offering that catered for people’s financial needs.

The Green Insurer has signed a deal with Carbon Neutral Britain which offsets all its customers’ carbon emissions through seven global sustainability projects. The move follows The Green Insurer’s own Carbon Neutral certification last year which demonstrated that it offset all its own operational emissions. The location of the projects ranges from Mongolia and Turkey to Costa Rica and Zambia.

Westfield Specialty International is looking to expand and diversify its portfolio into reinsurance and has hired Chris Gray as divisional director to lead the move. He will be based in London. Westfield Specialty International is backed by Ohio Farmers Insurance Company, which also acquired Lloyd’s Syndicate 1200 in 2023.