Reinsurance
Blockchain: Making waves: Can AI help the crisis in marine?
Outdated static rating factors and underwriting losses mean the marine market is ripe for disruption. Technology, including, blockchain is set to shake up the sector.
Analysis: Risk manager associations downbeat on Aon-Willis takeover
Post gathers feedback from across the industry on what Aon’s takeover of Willis – to create the biggest broker in the world – will mean for the market
Compre names Eleni Iacovides as chief development officer
Compre has recruited Eleni Iacovides as chief development officer, joining from Darag where she was group chief client officer for nearly four and a half years.
Scor postpones under fire AGM due to coronavirus
Scor has postponed its annual shareholders’ meeting, scheduled for 17 April, until 30 June due to difficulties posed by the coronavirus pandemic.
Q&A: Julian Enoizi, Pool Re
Julian Enoizi, CEO of Pool Re, discusses coronavirus, the reclassification of Pool Re, tapping the ILS market again and moving to a treaty basis to help increase SME take-up of terrorism cover. He also responds to press speculation about ‘Pandemic Re’…
Activist investor renews pressure on Scor over 'unjustified' AGM slot
Investment fund CIAM has renewed its pressure on Scor ahead of the reinsurer’s annual general meeting on 17 April, calling for the firm to publish a succession plan for its CEO position.
Direct Line suspends share buyback as it reports 500% increase in travel claims relating to Covid-19
Direct Line Insurance Group has today suspended its share buyback programme as a result of the volatile conditions arising from the Covid 19 pandemic.
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…
UK General in advanced sales talks
Exclusive: UK General Insurance is in “advanced” sale “negotiations”, Post can reveal, with market sources tipping Primary Group as poised to buy the firm back.
Analysis: Broker M&A pace picks up again
Acquisitions in the UK distribution space rose 13% last year, according to research by Imas Corporate Finance. Post investigates what is driving the increase in consolidation and the challenges buyers are facing in their traditional hunting grounds
Covéa agrees $9bn deal for Partner Re
Covéa has signed up to buy Bermuda-based global reinsurer Partner Re from the Ferrari-owning Agnelli family for $9bn (£7bn) in cash in a deal scheduled to complete in the fourth quarter of this year.
Hiscox profits dive 61% in 2019
Hiscox Group has reported a slump in pre-tax profits to $53.1m (£41.6m) in 2019 as catastrophe costs of $165m took their toll despite a significant rise in investment income.
Blog: Whither next or wither next for Pool Re?
Post senior reporter Emmanuel Kenning asks if Pool Re is facing an existential crisis after the Office for National Statistics’ judgement that the mutual reinsurer should become part of the government.
Analysis: Closing the natural catastrophe protection gap
Though losses from natural catastrophes fell in 2019, the proportion of losses that were uninsured rose to a three-year high. Post investigates why.
Pool Re development a 'massive change': Biba
Graeme Trudgill, executive director at the British Insurance Brokers’ Association, has pledged to support Pool Re during consultations about the future of the mutual reinsurer.
ABI flags 'potentially serious implications' as Pool Re classified part of government
The Office for National Statistics has judged that Pool Re should be classified as part of the central government subsector in a surprise move that has raised questions about the future of the mutual reinsurer.
Michael van der Straaten appointed QIC Global CEO
Qatar Re CEO Michael van der Straaten has been appointed CEO of QIC Global.
FSCS declares CBL Insurance Europe in default
The Financial Services Compensation Scheme is now stepping in to protect the majority of policies sold in the UK to individuals and small businesses by CBL Insurance Europe having declared the insurer to be in default.
Blog: Meatballs, Billy Book cases and Hemsaker: Can Ikea make flat pack household insurance a success?
As Ikea teams up with Swiss Re to enter the household insurance market, content director Jonathan Swift reflects on how the Swedish furniture giant could disrupt the sector with its own brand of flat pack cover.
Gunter replaces Hendrick as Axa XL CEO
Scott Gunter has been appointed as CEO of Axa XL joining from Chubb to replace Greg Hendrick who is leaving to pursue other opportunities.
Government delay to claims portal expected within days
Industry experts have predicted that the government is ready to delay the upcoming launch of the claims portal with an announcement expected “very soon”.
Bollington still offering all lines after Gefion suspension, Patterson confirms
Bollington’s decision to stop trading with unrated Danish insurer Gefion has not changed the firm’s insurance footprint, group managing director Chris Patterson told Post.
UK commercial insurance pricing leaps 14% in Q4
Composite insurance pricing in the UK rose by 13.7% in the fourth quarter of last year according to research by Marsh.
Pen Underwriting’s Tom Downey on the market-hardening challenges and opportunities for MGAs
What a difference five years makes. Back in early 2015, we had a nation blissfully ignorant of the division, disruption and economic uncertainty that would follow the 2016 referendum result, writes Tom Downey, chief underwriting officer at Pen…