Aspen Insurance
Briefing: Business interruption insurance – reported ‘u-turns’ have yet to prove significant
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
Supreme Court dismisses hull underwriters' attempt to recover $22m paid out for deliberately sunken ship
The Supreme Court has dismissed an attempt led by Aspen to recover $22m paid out by hull underwriters following the sinking of a ship in 2013 that was later ruled to have been deliberate.
This week: The bad news
What a week. The coronavirus may be an invisible threat, but its fallout – both within and beyond the insurance industry – is hard to miss.
Aspen reports ‘disappointing’ results for 2019 as it appoints CFO
Aspen Insurance has reported an operating loss after tax of $48.4m (£39.7m), which it says is driven by costs relating to the acquisition of the company by Apollo Global Management, restructuring costs, reserve strengthening, unrealised investment losses…
Deliveroo investors back £3.3m raise for ex-Aviva innovation head's gig economy insurtech
Insurtech start-up Collective Benefits has closed a £3.3m seed funding round involving Stride VC alongside existing investors Delin Ventures and Insurtech Gateway.
Analysis: Managing general agents - Gaining momentum or overheating?
Within insurance, it’s managing general agents seeing all the deals, attracting the money and the talent. The potential for big profits and lower costs drives the sector forward, but will the sector gather yet more momentum or will it overheat?
Roundtable: Cyber - the next big opportunity in personal lines
Cyber has been long-touted as offering insurers and brokers a huge opportunity in commercial lines – from SMEs to corporates. But as individual consumers become ever more aware of their vulnerability to data breaches and cyber attacks, an equally large…
Roundtable: Vulnerable customers: how does technology deliver fairer claims outcomes?
The FCA continues to be concerned about the problems faced by vulnerable customers. The regulator is expected to soon unveil a consultation to provide clarity on expectations of firms. Experienced claims handlers will play a key role in helping insurers…
This week in Post: Culture vultures
At the Monte Carlo annual rendezvous this week, Lloyd’s chairman Bruce Carnegie-Brown said the corporation was ready to “hang” perpetrators of bad behaviour after its culture survey revealed some “sobering” results.
Aspen appoints UK CEO
Clive Edwards will become CEO of Aspen UK and Aspen Managing Agency.
This week in Post: Conference, cuts and conservative leadership
This week, along with the rest of the team, I attended the British Insurance Brokers’ Association conference. I knew it would be an action-packed week - but nothing could prepare me for what was ahead.
Aspen MGA in run off with 111 jobs at risk
Aspen has cut loose its UK SME managing general agent, with 111 jobs on the line as a result.
Cloutier steps up at Aspen as Apollo deal completes
Aspen’s chairman Glyn Jones and group CEO Chris O’Kane have stepped down, with the completion of Apollo’s acquisition of the Lloyd’s insurer.
Ageas management shakeup continues as Jonathan Price joins as CFO from Aspen
Former Aspen UK chief financial officer, Jonathan Price has been appointed CFO of Ageas UK.
CII launches Society of Claims Professionals
Exclusive: The Chartered Insurance Institute has launched a dedicated professional body for people who work in claims.
Blog: Why insurers must take their own cybersecurity risks seriously
Thousands of insurance transactions happen over the web every day but with recent Google updates are insurers website as secure as they could be asks Mike Still, chairman of Trustify and of Business in the Community’s Business Emergency Resilience Group.
Brit executive chairman Mark Cloutier departs for Aspen
Brit executive chairman Mark Cloutier is leaving the Lloyd’s insurer, to become CEO and chairman of Aspen
SME insurtech Hokodo partners with Scor on SME product
Start-up Hokodo will work with Scor Global’s Channel Syndicate on an SME invoice protection product.
Updated: Ratings agencies split on Aspen reaction
Ratings agency Moody's has affirmed Aspen's rating following its $2.6bn (£2bn) deal with Apollo, while AM Best has placed it under review.
Apollo snaps up Aspen in $2.6bn deal
Aspen Insurance has entered an agreement with investment manager Apollo that will see it sell all remaining shares in the business for $42.75 (£33.15) per share, a total of $2.6bn (£2bn).
AIG appoints new Europe CEO
Aspen Re’s CEO Thomas Lillelund has been appointed CEO of AIG Europe SA, subject to regulatory approval.
Market Moves: March 2018
Some of the movers and shakers in the market this month
Aspen CEO Stephen Postlewhite leaves with immediate effect
Aspen CEO Stephen Postlewhite is leaving the business with immediate effect.
Aspen takes $245m underwriting loss in Q4
Aspen expects to post a $245m underwriting loss in the fourth quarter of 2017.