Mid to high net worth capacity has reduced in the last 12 months. We have seen the sad demise of Home & Legacy, and AxaXL & Azur acquired by Aviva, insurers are pushing for premium and reviewing policy inner limits. In order to assist, we are delighted to confirm that we have added both Hoxton (Lloyd’s capacity) and Protect Underwriting (Hiscox capacity), to our panel to assist in ensuring we provide competitive mid to high net worth solutions.
The motor market challenges are in line with our general motor update, insurers are looking to package high net worth fleets with the household. Range Rovers, as per our update earlier this year, remain a challenge to insure in isolation, especially in London.
A more general item would be under insurance which continues to be a challenge for both commercial and residential property. We have great relationships with both RCA and BCH who can provide desktop valuations for the majority of our client base which will help them sleep easier in the event of a loss. If you need any further details please visit the Hub and/or ask the team. In summary, we are exiting the hard cycle and entering the softer cycle. As always if you would like to discuss anything further, please have a chat with your placement team and they will provide further insight.
As always thank you to our broker partners for all of their efforts throughout the year, and here’s to an even more successful 2024.