Office moves, chairship conclusion, a podcast launch and a tour with a difference – what has the insurance industry been up to of late? You heard it here first…
New digs?
Industry-owned digital trading technology firm Polaris will shortly be on the hunt for a new London headquarters as its current abode – New London House on London Street, directly next to Fenchurch Street Station – is currently undergoing a public consultation process ahead of being transformed into a Premier Inn hotel.
Premier Inn’s parent company, Whitbread, acquired the building in September 2023. The first round of public consultation on the proposed changes to New London House’s function took place in April 2024, with the second phase of public consultation currently ongoing.
Insurance Times understands that a number of the businesses residing at New London House have already upped sticks, although Polaris is still in situ. Will the organisation soon jump ship like its neighbours and, if so, where will it set up shop?
Steve Waller, the firm’s head of standards, is keeping his fingers crossed for a venue that is equally on top of Fenchurch Street Station for continued commuting ease.
Evans’ exit
Jonathan Evans’ six-year tenure as chair at broking trade body Biba will conclude on 31 December this year, marking the completion of the maximum term a chair at the association can serve.
Talking to Insurance Times at Biba’s manifesto launch event on 15 January 2025, Evans ringfenced 2020 as ”a revolutionary year” during his chairmanship because of the Covid-19 pandemic.
He said: ”Many brokers went above and beyond to help customers navigate and survive the impacts of the pandemic. It was such a fluid situation.
”The way the sector faced these challenges head on – servicing customers, providing clarity on cover and managing their own businesses and employees – was inspirational.”
A secondary highlight for Evans from the past six years was the appointment of Graeme Trudgill as Biba’s chief executive in 2023 – he believes this promotion put the trade body ”in an advantageous and market-leading position”.
Evans first joined Biba’s board as a non-executive director in 2018, before becoming chair in 2020.
Consumer conversations
In January 2025, independent research and consumer group Fairer Finance launched a new fortnightly podcast, called The Fairer Finance Podcast.
Available on Spotify and Apple, as well as major podcast platforms, the episodes are hosted by Eve McGrady, consultancy manager at Fairer Finance – in each instalment, she chats through the latest market news, regulatory updates and consumer policy issues impacting the financial services sector with Fairer Finance’s managing director James Daley and its director and behavioral economist Tim Hogg.
The podcast will also look to feature additional guests in future episodes.
Daley said: ”This podcast is designed for professionals working across consumer financial services – including banking, insurance, pensions and investments – who want to stay informed about the latest developments from regulators and the wider market.
”Each episode, we’ll be breaking down the latest news in the sector and unpacking what it might mean for businesses and consumers.”
Insurance tourism
Insurance Times deputy editor Yiannis Kotoulas experienced a unique tour of the Lloyd’s of London building on 16 January 2025, as he was shown around the historic home of the London market by QBE International chief executive Jason Harris.
The rollercoaster averse journalist even managed to master the building’s external lifts with barely a whimper.
The Speculator
In November 2024, the FCA’s chief operating officer, Emily Shepperd, confirmed that the regulator planned to adopt a five-year strategy from the start of 2025 around four key pillars. This indicates a marked change from its usual, shorter three-year strategic cycle, which typically sees a new strategy unveiled in April.
Michael Sicsic, managing partner at regulatory consultancy Sicsic Advisory, told Insurance Times that the FCA’s revised strategic timetable is “a bit unusual” considering that the five-year term of the regulator’s current chief executive, Nikhil Rathi, is due to conclude on 30 September 2025.
Rathi initially took the top job at the FCA in October 2020 – he was previously chief executive of the London Stock Exchange.
Sicsic added: “The timing is interesting because we don’t know if Nikhil, the current chief executive [at] the FCA, is going to do another term.”
Will Rathi, who initiated and drove the regulator’s more aggressive and interventionist stance, spearhead the FCA’s next strategy too, or will there be a new leader to usher the plan through the next five years?
During her tenure so far, she has taken home prizes such as Best Trade Award and Publication of the Year from Biba’s annual Journalist and Media Awards, been annually shortlisted in the General Insurance Journalist of the Year (B2B) category at Headlinemoney’s yearly awards event, as well as received numerous highly commended prizes in the Insurance and Risk Features Journalist of the Year category at WTW’s annual Media Awards.View full Profile
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