Articles by Jen Frost
Briefing: Ecclesiastical’s child abuse claims shame – CEO Hews’ admission too little too late?
If Ecclesiastical CEO Mark Hews is sorry for how the insurer has handled non-recent child sexual abuse claims, should he not be addressing the victims rather than shareholders?
Insurers failed to raise issues with government's restriction triggers says FCA
Insurers should have offered government earlier ‘opportunity’ to regulate if they disagreed with restriction insurance triggers, the Financial Conduct Authority has said.
Brokers not responsible for BI test case insurance policies under contract law, argues FCA
The business interruption policies under scrutiny in the Financial Conduct Authority’s test case are presented ‘in the manner which most benefits insurers’ and therefore brokers should not take the blame for any contractual breaches, the regulator has…
Analysis: The Covid crunch in insurer results
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Gable liquidator warns of ‘everlasting’ bankruptcy proceedings as it writes off £72m
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
Flood Re paid out more last year than its first three years combined
The Flood Re scheme incurred gross claims of £160m in 2019/20, more than the total paid in its first three years of existence.
Concirrus raises $6m from Commerzventures
Insurtech Concirrus has raised $6m (£4.8m) through an investment from Commerzventures, Post can reveal.
AGCS embarks on €200m cost-cutting restructure
Allianz Global Corporate & Specialty will look to reduce its global headcount by a further 400 as it embarks on a transformation programme.
Briefing: Gefion hopes to go out with a whimper as brokers predict a bang
News that Danish unrated insurer Gefion had entered run-off and solvent liquidation left us and others in the industry feeling somewhat underwhelmed.
Aon u-turns on salary cuts
Aon will repay colleagues in full, plus 5% of the withheld amount, after cutting the salaries of 70% of its workforce.
Craig Thornton appointed chair of ABI’s General Insurance Council
Craig Thornton, general insurance and protection director for Lloyds Banking Group, succeeds former Ageas UK CEO Andy Watson as chair of the Association of British Insurers’ General Insurance Council.
Gefion to enter run-off as regulator revokes insurance license
Danish unrated insurer Gefion will enter solvent liquidation as the Danish regulator has chosen to withdraw its license, the insurer has said.
Zego beefs up debt with Triplepoint
Insurtech Zego has taken on additional funds from venture capitalist debt provider Triplepoint.
Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Briefing: Aviva on the money on executive pay
Aviva’s advice on executive pay and corporate governance and responsibility is bang on the money.
Markerstudy’s board directors take 50% pay cut
Amid almost 500 redundancies at Markerstudy, the group's board has taken a 50% pay cut, Post can reveal.
Ardonagh acquires Bravo and Arachas as it launches $500m notes offering
The Ardonagh Group has launched a $500m (£401m) notes offering, having agreed the purchase of Bravo Group and Arachas.
Former RSA Ireland CFO fined €70,000 and barred for eight years
Rory O’Connor, former executive director and chief financial officer of RSA Ireland Insurance, has been fined €70,000 and disqualified for eight years and four months by the Central Bank of Ireland.
Briefing: FCA’s business interruption test case – misreading the room
Reactions to Tuesday’s Financial Conduct Authority business interruption hearing suggest that insurers – or at least their lawyers – may be misreading the room.
FCA disputes BI ‘conflict of interest’ allegations
The Financial Conduct Authority has today denied there is any conflict of interest in relation to the law firm engaged on its business interruption test case.
BGL CEO Matthew Donaldson to step down this week
BGL CEO Matthew Donaldson will leave the business on 19 June after 20 years at the broker, to be succeeded by the former CEO of RBS’ digital banking app.
Insurers and FCA butt heads on pandemic spread analysis in BI case
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out…
Hiscox plots comparison between Sweden and ‘draconian’ UK in BI test case
Hiscox could look to an analysis of the Covid-19 economic impact on Sweden versus the UK, which its counsel said has faced “draconian” lockdown measures, as a defence in the Financial Conduct Authority’s business interruption test case.
This week: Contra proferentem
No – it’s not a Harry Potter spell. This week the Financial Conduct Authority said it would whip out the ‘contra proferentem’ argument on behalf of policyholders in its business interruption test case against insurers.