Excess capacity in reinsurance will continue through 2016 with European companies already factoring Solvency II into their buying strategies, according to analysis from Guy Carpenter.
Europe, Middle East and Africa operations CEO Nick Frankland, pictured, said the industry's cost ratio of approximately 30% was "colossal" and some cost-cutting would help, particularly as the market tightens....
Lloyd’s of London underwriter Hiscox said it has shortlisted two European Union countries and was in talks with regulators to set up a new insurance base to continue servicing clients after Britain leaves the EU.
QBE will move £500m of business, around 20% of its European operation, out of the UK in the wake of Brexit.
Hiscox’s London market business has presented an inconsistent and mixed operating year for the insurer, according to Steve Langan, CEO of Hiscox Insurance.
Aviva has asked staff if a robot could better perform their job. If the answer is yes, the company will offer employees the chance to be retrained.