Insurance Times rounds up the top five stories making headlines across the market from 27 October to 31 October 2025
Among the biggest stories this week was the announcement of a new UK commercial combined MGA, led by two former Covéa leaders and supported by Mission.
Global MGA incubator Mission revealed plans to support a new team in launching a UK commercial combined MGA in the fourth quarter of 2025.
The new business, named Lumara Insurance, will specialise in business insurance and motor trade combined products for UK brokers. Mission expects to announce additional MGA launches in late 2025 and early 2026.
Then, Sean Byrne, managing director at non-standard motor broker Got You Covered, confirmed he would be leaving the business at the start of December.
In a post on LinkedIn, Byrne said it had been a “real privilege” to work alongside such a talented and passionate team, adding that he was “immensely proud” of what they had achieved together. Byrne joined the broker in 2022.
Following this, AIG announced it would acquire the renewal rights for the majority of Everest Group’s retail insurance portfolios worldwide.
Exposure to all liabilities will remain with Everest, which will continue to administer claims on its existing policies. Terms of the agreements were not disclosed.
After that, Allianz UK appointed Vicky Yuill as distribution director at Allianz Personal Broker.
Yuill, who has over 20 years’ experience in the industry, joins from Sainsbury’s Bank, where she was head of insurance, overseeing car, home, pet, life and travel products.
She previously held senior positions at Ageas and Kwik Fit Insurance Services, focusing on the management and development of insurer relationships in home and motor insurance.
Finally, AIG made headlines for the second time this week with news that it will acquire a 35% stake in Convex Group for approximately £1.6bn ($2.1bn).
Founded in 2019 by Stephen Catlin and Paul Brand, Convex operates across London, Europe and Bermuda.
AIG will also acquire a 9.9% ownership stake in Onex Corporation for around £490m ($646m).
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