Lloyd's/London
Atlanta acquires Marmalade; Aviva in SME cyber push; Greenlight seals 13th insurtech deal; and Zurich launches flood pilot
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Blog: MGAs and the shift in the insurance industry distribution ecosystem
The number of delegated underwriting authority enterprises has grown rapidly over the past 10 years. David Blades, associate director of industry research and analytics at AM Best, explains why this is and what this means for the market.
Lloyd's CEO Neal says market must maximise underwriting returns after £887m loss
Lloyd’s must take advantage of “once in a generation trading conditions” to return an underwriting profit in 2021, CEO John Neal has said after the market posted an £887m pre-tax loss for 2020.
Briefing: Lowering the bar
Change at Lloyd’s does not come easily, the London & International Insurance Brokers’ Association was reminded last week, after its suggestion that formal attire requirements be banished to the annals of history was at first met with almost anything but…
Ever Given losses likely to be hundreds of millions not billions, say ratings agencies
The unblocking of the Suez Canal just under a week after MV Ever Given ran aground and the apparent absence of damage to the boat, its cargo and from pollution will limit losses to hundreds of millions of dollars rather than billions, ratings agencies…
Ratings agencies stable on CNA after cyber attack
AM Best and Fitch have both maintained their ratings for CNA Financial Corporation with a stable outlook after the insurer suffered a sophisticated cybersecurity attack on 21 March.
Suez Canal: Insurance industry braces for claims as Ever Given partially refloated
Ahead of the crucial weekend efforts to move 400m long MV Ever Given and unblock the Suez Canal, insurance industry experts assessed the potential for claims.
Analysis: Tapping into the returners talent pool
Post investigates whether the insurance industry is welcoming of returners who have had a career gap, assessing the programmes in place to support them and the range of skills, experience, motivation and fresh perspective that they can bring to an…
Aviva completes 'refocus' with sale to Allianz; Axa and Tesco join forces; Chubb takeover rebuffed and Bought By Many enters US
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
Court case thwarted BI claims solution that was just two weeks away, says Ardonagh’s Ross
A coalition of brokers working with Hiscox was just two weeks away from solving the problem of Covid-19 business interruption claims but the court case cut the legs off the solution, Ardonagh CEO David Ross has claimed.
Aversion to spare capacity hurting resilience, Carnegie-Brown tells bioterrorism conference
Governments and businesses must overcome the “fundamental behavioural challenge” of building spare capacity to bolster resilience to events such as a bioterrorist attacks and future pandemics, Lloyd’s chairman Bruce Carnegie-Brown has said.
Tokio Marine HCC appoints Des Burke as CIO
Tokio Marine HCC International has hired Des Burke as chief information officer reporting to Thibaud Hervy, chief underwriting officer, specialty lines division.
Insurance lives in the Covid era - 12 months on from the first National Lockdown: Part Four
On the 23 March 2020 as Covid-19 infection rates soared Prime Minster Boris Johnson told us to “stay at home” triggering the first National Lockdown. One year on Post spoke to a host of insurance workers - the insurer boss, the broker boss, the insurer…
LMG names Wagstaff as interim CEO
The London Market Group has appointed communications specialist Caroline Wagstaff as interim CEO to replace outgoing boss Clare Lebecq on a part time basis from 1 April till the end of 2021.
Gurpreet Johal to lead Deloitte’s global reinsurance and London market team
Deloitte has named Gurpreet (Guru) Johal as UK and global sector leader for global reinsurance and the London market.
Q&A: Bill Pieroni, Acord
Bill Pieroni, CEO of global standards setting body Acord, discusses the findings of its research into UK personal lines websites and who is improving and why. He also tackles how the Covid-19 pandemic will change the market, reflects on his achievements…
Intelligence: Insurtech incubation during Covid-19
Covid-19 continues to wreak “profound damage” on the UK economy, according to Chancellor of the Exchequer, Rishi Sunak, but the country’s insurtech sector is staying strong and remains a much-needed beacon of hope
Hiscox promotes Isha Patel to head of direct commercial in UK
Hiscox has appointed its area director for the South, Isha Patel, as head of direct commercial in the UK.
Direct Insurance Group makes COO Tom Downs multi-million pound IT investment leader
Direct Insurance has named group chief operating officer Tom Downs as the leader of a multi-million pound investment in operations and IT to widen its digital capabilities.
Insurer results directory 2020
Updated: Post tracks the 2020 insurer results season including gross written premium and combined operating ratio - detailing the impact of UK business interruption, weather, motor, home, non-business interruption Covid-19 claims, as well as mergers and…
ERS raises $350m, confirms Kevin Kelley as non-exec chairman
ERS has completed a $350m (£252m) capital raise led by Boston based private equity firm Abry Partners, as it updated on its Bermuda ambitions and appointed Kevin Kelley as non-executive chairman.
QBE promotes Cécile Fresneau to run insurance division
Cécile Fresneau will take the helm of QBE European Operations’ insurance division, overseeing the business in Europe and international markets in addition to the UK, from the start of next month.
Analysis: The future of Lloyd's underwriting room in a 'hybrid world'
In February, Lloyd’s launched a consultation on the future of its famous underwriting room, inviting market participants to take part in “a once-in-a-generation opportunity” to shape the space going forwards.
For the record: Brightside sold to Markerstudy; Aviva acquires Axa XL HNW team; Aston Lark buys Bruce Stevenson and Inflexion invests in broking again
Post wraps up the major insurance deals, launches and investments of the week