Articles by Francesca Nyman
Friends Life grants investment opportunities but selective GI exits considered
The Friends Life deal will “accelerate” Aviva’s turnaround and enhance its ability to deliver improved cashflow and growth according to CEO Mark Wilson.
Motor rate decline to halt in 2015, says Admiral UK CEO
Price reductions in the UK motor market are set to end in 2015, as cheaper claims frequency rises in the wake of lower fuel costs, according to Admiral Group’s UK CEO David Stevens.
Aviva records 6% increase in operating profit
Aviva posted a 6% increase in group operating profit to £2.17bn for the 2014 financial year, and an improved combined ratio, as CEO Mark Wilson warned the firm had “further to travel” with its turnaround plan.
Admiral posts reduced profit for first time since float
Admiral Group posted a profit of £357m for 2014, the first fall in profit since its stock market flotation in 2004.
A quarter of firms likely to miss Solvency II deadline
Most insurers expect to be ready for the reporting and disclosure requirements of Solvency II by the end of the year, however a significant minority will struggle to meet to deadline, a survey by financial adviser Grant Thornton has found.
JLT sees 'great opportunity' for European cyber growth
JLT plans to use its experience in the US cyber market to grow its European business, although it may need to win over large corporates who remain on the fence about the benefits of the cover, deputy CEO Mark Drummond-Brady has said.
L&G GI chief questions long-term pricing approach of rivals
Legal & General's approach to long-term home insurance pricing means it is in a more favourable position than certain market peers, according to the firm's general insurance boss Mark Holweger.
Nationale Suisse sells Belgian travel portfolio to Mapfre
Swiss insurer Nationale Suisse has agreed to sell the travel insurance portfolio of its Belgian subsidiary L'Européenne to Mapfre Asistencia, a subsidiary of Spanish insurer Mapfre, for an undisclosed fee.
IBSC launches best practice guide for members
The Insurance Brokers Standards Council has launched a consultation paper on a good practice guide for IBSC members serving commercial clients.
Apil calls for insurers to be investigated as part of child abuse inquiry
The Association of Personal Injury Lawyers has called for the inquiry into historic child abuse to investigate the behaviour of insurers following allegations certain firms had encouraged councils to cover-up child abuse claims.
Hiscox eyes bolt-on acquisitions to boost growing retail book
Hiscox is keen to complete more bolt-on acquisitions as it looks to continue growing its retail book, according to chief underwriting officer Richard Watson.
Munich Re leads Pool Re's £1.8bn reinsurance programme
Government-backed terror scheme Pool Re has purchased reinsurance in the commercial market for the first time in its history.
CMA proposes August 2016 deadline for no claims bonus remedy
The Competition and Markets Authority appears to have heeded industry pleas to extend the deadline for implementing its no claims bonus remedy.
Laspo 'unwinding' will impact motor rates, claims Dye
The long-term success of the Legal Aid, Sentencing and Punishment of Offenders Act 2012 could be in doubt, with signs showing an “unwinding” of the reforms designed to tackle motor claims inflation, according to Allianz UK CEO Jon Dye.
Allianz sees property and casualty GWP grow 3.7% in 2014
Allianz Group saw gross written premiums for its property and casualty segment increase 3.7% to €48.32bn in 2014, driven by strong growth in its global insurance lines and the UK business segments.
Covéa confirms acquisition of Sterling
Covéa’s acquisition of Sterling has been given the green light by the Prudential Regulation Authority.
Chilton encouraged to answer retail question mark with senior hires
Arthur J Gallagher International CEO Grahame Chilton must prioritise replenishing his senior team if he is to thrive at the broker, according to market peers, who have highlighted a lack of UK retail experience as a potential obstacle.
Novae tipped as next listed player to be sold as Lloyd's consolidation hots up
Pressure on profitability in the Lloyd’s market has been cited among the main drivers for consolidation by analysts, with Novae tipped to become the latest listed player to be snapped up.
AJG International CEO Chilton defends retail credentials
New Arthur J Gallagher international CEO Grahame ‘Chily’ Chilton has hit back at claims he lacks retail experience in his first interview since assuming the role.
Brown and Deakin to join Towergate
Arthur J Gallagher’s commercial director Janice Deakin and executive chairman of underwriting and distribution Adrian Brown have both agreed to follow former boss David Ross to Towergate.
Company policies failing to protect vulnerable consumers finds FCA
The Financial Conduct Authority has challenged financial services firms to develop new approaches to support vulnerable consumers.
Gallagher boss Chilton 'a mentor' for ex-CEO Ross
The appointment of Grahame Chilton as CEO of Arthur J Gallagher International comes just weeks after his predecessor David Ross described Chilton as a “mentor” and praised his ingenuity during his time at reinsurance broker Benfield.
Axa tipped to make £300m bid for Pinnacle plot
Axa is poised to buy the site for what was intended to be London’s tallest skyscraper, according to reports.
Innovation report predicts shake up of property market by digital 'revolution'
Property claims handling and risk management in the UK is on the threshold of a technological revolution similar to that being experienced in the motor market, according to a report published today (19 February) by the Innovation Group.