Articles by Emmanuel Kenning
Analysis: Legal expenses insurers: Rising to the challenge
Legal expenses insurers saw at least double-digit increases in call volumes as the government moved to combat the outbreak of the coronavirus by locking down the UK. Providers rose to the challenge and believe they are well placed to meet any further…
Aon and WTW brand five takeover lawsuits as ‘without merit’
Aon and Willis Towers Watson have decried the filing of five legal cases across the US by “purported” shareholders and slammed the complaints for being “without merit”.
AIG adds $458m of Covid-19 losses in Q2
AIG reported an underwriting loss of $343m (£262.8m) for general insurance business in the second quarter of 2020.
PE firms circle AA for takeover talks
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.
FCA warns of action on BI claims deductions
The Financial Conduct Authority has warned insurers making deductions to non-damage business interruption claim payments based on government payouts that it will intervene if firms do not meet its expectations and treat customers fairly.
Alex Williams promoted to MD at i-Wonder
Alex Williams has been appointed at the first managing director of technology firm i-Wonder.
Guidewire faces class action lawsuit in US
Gainey McKenna & Egleston has filed a class action lawsuit against Guidewire saying it is seeking to recover damages for investors under the federal securities laws.
BI court case judges aiming for draft judgment in mid-September
Lord Justice Flaux has confirmed the middle of September as the target date for a draft judgment in the business interruption court case brought by the Financial Conduct Authority against UK insurers.
ABI seeks to 'tell the full story' on industry’s Covid response: Huw Evans
The industry should not shy away from the business interruption insurance issue but equally it is not “the be all and end all of the Covid crisis”, according to Huw Evans, director general of the Association of British Insurers.
ABI appoints Charlotte Clark ahead of Hugh Savill retiring
Charlotte Clark has been appointed as director of regulation at the Association of British Insurers, replacing Hugh Savill who is retiring at the end of the year.
Complete Cover deal saw £108.7m written off
The net liability position of Complete Cover’s ultimate holding company Key Topco improved from a deficit of £93.4m at the end of 2018 to just £1.7m by the end of March 2020 after the takeover by Sun Capital Partners at the start of this year.
Sun Capital injected £7m into Mulsanne as SCR fell below 100%
The new backers of Mulsanne Insurance Company had to invest £7m into the Gibraltar-based underwriter this April to meet solvency capital requirements.
Carter hails 'trampoline bounce back' after lockdown hit H1 volume at Sabre
Motor specialist insurer Sabre was pleased overall with the half-year results as the coronavirus pandemic pushed premiums down 14% to £86.9m, CEO Geoff Carter told Post.
Tysers appoints Deloitte’s Buesnel as CEO
Tysers has appointed Clive Buesnel as CEO joining from Deloitte where he was UK head of insurance.
Hiscox QC accuses FCA of 'tearing up the rule book on causation'
Jonathan Gaisman, QC, branded parts of the Financial Conduct Authority’s arguments as camouflage, a misuse of language and “blurring every divisible thing into one amorphous mass” as he defended Hiscox in the ongoing business interruption test court case.
Ecclesiastical recruits Trott from Allianz for claims director role as Bonehill retires
Ecclesiastical has recruited Jeremy Trott from Allianz to fill the claims director role with David Bonehill retiring this October.
Swiss Re pegs H1 Covid-19 losses at $2.5bn
Swiss Re has predicted $2.5bn (£1.96bn) of pre-tax Covid-19 losses in the first six months of 2020 will drive its half year results to a $1.1bn loss.
Tansar administration after collapsed sales talks leaves Gefion facing £5.4m shortfall
Unrated Danish insurer Gefion is due to receive just 3% of the £5.5m owed by Tansar Holdings, which has been put into administration.
Brit digital syndicate Ki takes Dan Hearsum from Marsh as MD
Digital algorithmically-driven Lloyd’s of London syndicate Ki has appointed Dan Hearsum as managing director joining from Marsh JLT Specialty where he was head of placement for the specialty business in the UK.
Former insurance business development head Laurence Ives jailed for sexual offences against children
Laurence Ives, 55, of Western Road, Leigh, has been jailed for four years and placed on the sex offender register for ten years for committing 15 sexual offences against children.
QBE warns of $335m Covid underwriting hit for H1
QBE has predicted it will deliver a $750m (£581.7m) post tax loss when its half year results for 2020 are published next month.
McCaffrey targets 10 deals for MVP and Ataraxia
Minority Venture Partners and Ataraxia CEO James McCaffrey is confident the businesses will strike up to 10 deals in the next 12 months, he told Post.
CMA launches merger inquiry into Ardonagh-Bennetts deal
The Competition and Markets Authority has opened a merger inquiry into the proposed takeover of Bennetts Motorcyling Services by Ardonagh Group.
Munich Re adds €700m to Covid impact total
Munich Re was hit by €700m (£631.7m) of Covid-19 related reinsurance losses in the second quarter taking its year to date figure to €1.5bn, the reinsurer has revealed.