INSURANCE POST REVIEW OF THE YEAR 2023

January 2024 - As we said goodbye to 2023, Peter Harvey, Deputy Chief Executive spoke to Insurance Post to reflect on 2023 and what lies ahead for Arc Legal Group in 2024.

Highs and slightly lower highs

A significant milestone was celebrated at the beginning of 2023 – 20 years since Helen Withers, Frank O’Malley, and Richard Finan first launched Arc Legal Assistance. The launch filled a gap in the market for a Legal Expenses Insurance (LEI) provider that offered completely bespoke solutions.

Since then, Arc Legal has focused on establishing its roots and growing in this area of the market.

A slightly lower high, and not necessarily a disappointment from the year because it displays ambitious growth and hunger for change, was the time taken for IT projects to be completed.

Peter stressed that Arc Legal’s hard-working teams are not to blame for this problem, as there are so many ambitious plans across the growing business that it can be difficult to keep up with the increased number of requests from all areas.

If anything, it’s a good problem to have!

The year ahead

For this year, Peter expressed his confidence that the percentage of UK general insurance placed via MGA channels will increase into 2024 and beyond.

“When you have a track record of delivering underwriting profitability, expertise across the classes of business you write, and an efficient customer-focused claims solution there will always be insurers interested in partnerships.”

It’s looking like a positive but busy year for Arc Legal Group and we’re excited to bring on the new challenges and opportunities ahead!

Read Peter’s full review of 2023 here (subscription required).

For further information on the above, or details of our products and services, please contact your Partnerships Manager or email enquiries@arclegal.co.uk.