Europe
Sompo adds Richard Brown to lead on London market and property push
Sompo International has appointed Richard Brown to lead a new team focusing on property business through retail distribution channels in the UK, Europe and selected international territories including the Middle East and Israel.
RSA employee reps seek ‘urgent’ clarity on takeover redundancies
Clarity on the potential for 200 UK job losses, and more in Scandinavia, is being sought by RSA employee representatives.
Loss-making Markerstudy sniffing out investors as loan discussions continue post-deadline
Managing general agent Markerstudy made a loss in 2019, with discussions ongoing around its near £200m debt to Qatar Re.
Modest hardening in UK property reinsurance as European motor ticks up
The annual 1 January reinsurance renewal season delivered firmer pricing for UK property risks, according to Willis Re as its figures also indicated another year of strong rises in motor.
Aon/WTW merger faces further European Commission review
The European Commission will conduct a Phase II review into the $30bn (£22bn) merger of global brokers Aon and Willis Towers Watson, it has been confirmed.
Failed Elite ATE policies disclaimed
The administrators of Elite Insurance have disclaimed all but two after the event insurance policies underwritten by the insurer.
Adam Winslow to return to Aviva as CEO of international
Adam Winslow, AIG CEO for global life insurance, is returning to Aviva in January to become CEO of international.
Interview: Julian James, Sompo International
Sompo International’s international insurance CEO Julian James sat down for a ‘virtual chinwag’ with Harry Curtis to talk returning from retirement, the business’s Lloyd’s exit and brand ambitions, the hardening market and ‘Armageddon scenarios’.
Lloyd's Brexit transfer of EEA business approved by High Court
Lloyd’s has received final approval from the High Court to transfer policies covering risks and policyholders in the European Economic Area to its Belgian subsidiary, Lloyd’s Europe.
Lloyd's Brexit transfer decision expected next week after objection-free hearing
Lloyd’s is set to learn whether or not the High Court will approve a Brexit-necessitated transfer of European policies to its Belgian subsidiary next week, following the conclusion of a two-day sanctions hearing on Thursday.
Analysis: Who are RSA buyers Intact and Tryg?
RSA's would-be co-owners Intact and Tryg intend to split the insurer once a deal closes. Post investigates what the parties' track records could mean for its future.
Lloyd's faces 'lose-lose scenario' if High Court rejects Brexit transfer
Lloyd’s could face a “lose-lose scenario” of having to choose between not paying claims or risking regulatory or criminal sanctions, if a proposed transfer of European policies to its Brussels subsidiary is not approved today.
Analysis: Managing and insuring business travel in a pandemic
With planes grounded across the globe and staff working from home, more often than not business travel numbers have dropped off severely. Post investigates how the market has been impacted and what this sector might look like in the future
Miller to expand employee ownership after sale
The existing partners of Miller will be reinvesting into the business to keep a “substantial minority ownership” and targeting broader employee ownership as part of the deal that sees the firm switch hands from Willis Towers Watson to Cinven and GIC.
Analysis: Innovating in insurance-linked securities
Where other investment markets have struggled during the global pandemic insurance-linked securities have weathered the storm well. Post finds out how London’s young regime is fitting into the existing global markets and whether there is still innovation…
Travelers expands Mike Lawton’s role to lead on specialty
Former Towergate and RSA boss Mike Lawton, vice president of business insurance at Travelers Europe, will now also be responsible for specialty business including its Lloyd’s syndicate, the insurer has confirmed.
No losers as Cinven and GIC buy Miller from WTW, say brokers
Brokers have hailed private equity house Cinven and Singaporean sovereign wealth fund GIC buying Miller from Willis Towers Watson as a deal with no losers.
Former Ferma president Jo Willaert passes away
Jo Willaert, the immediate former president of the Federation of European Risk Management Associations, has passed away.
Spotlight: Climate change: The role of insurers in reducing carbon emissions
Insurers will come under increasing pressure to demonstrate their pro-active engagement with the need for effective action to tackle global warming. Fine words, grand gestures and clever marketing will not be enough. Meaningful, effective action will be…
Insurtech Cytora unveils £2000 travel perk as it switches to permanent home working model
Commerical insurance focused insurtech Cytora has moved to a remote-first set-up for employees including a £2000 annual budget for each member of staff to spend on travel within the UK and around the world.
QBE makes Richard Pryce interim CEO as Pat Regan successor search continues
QBE has appointed Richard Pryce as interim group CEO as it continues the process of finding a replacement for Pat Regan who left abruptly at the start of September after an investigation into “workplace communications”.
Bought by Many confirms name change outside of the UK
Pet insurance provider Bought by Many will be changing its branding to Many Pets in markets outside of the UK, chief financial officer Luisa Barile told Post.
Applied targets UK market leadership within five years
Applied Systems has a three to five year strategic plan to take “significant market share” in the UK and Ireland and become the market leader in the software sector, according to Europe CEO Andy Fairchild.
In Depth: Containing the Covid-19 threat to the marine sector
As a result of the coronavirus pandemic, the shipping industry finds itself amid the sharpest decline in trade in 35 years, according to Clarksons Research. The intelligence provider estimates that seaborne trade fell by 10.6% year-on-year in May and…