Company news
Eldon intending to rebrand as Somerset Bridge
Arron Banks' Eldon Insurance Services is planning to rebrand as Somerset Bridge by the end of the year, Post can reveal.
Ogden rate, large losses and claims inflation knock Allianz UK COR in Q3
Allianz reported operating profit of £100m for the year to date in its Q3 results, with its combined operating ratio slipping to 96.5% from 95.7% at the half year.
Lloyd’s to form single governing body
Lloyd’s of London has confirmed it will merge its Council and Franchise Board from 1 June 2020, after receiving widespread support from across the market and revealing ambitions to build the most 'advanced insurance market' in the world.
Lancashire appoints UK chief underwriting officer
Lancashire has appointed its UK chief underwriting officer from within, with incumbent Hayley Johnston set to become CEO of its Bermuda arm.
Munich Re sees man-made major loss claims quadruple for third quarter
Munich Re reported "relatively high" man-made major loss claims, which were more than four times the hit it took in Q3 last year.
RSA UK reveals £8m restructuring for Q3 amid cost cutting
RSA UK has booked £8m in restructuring charges for the third quarter, as overall the group reported its operating profit was up.
Analysis: Under the skin of Lloyd's Blueprint One
Lloyd’s has published Blueprint One: the first of a number of ‘blueprints’ it intends to produce over the coming years as it overhauls the market for the 21st century
Top 30 Asia Insurers: A volatile year
2018 was a volatile year for Asian insurers with the majority of them posting declines in gross written premium or sluggish growth. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, explains the challenges they are facing.
Hiscox reserved $165m to cover Dorian, Faxai and Hagibis claims
Hiscox has reserved $165m to cover claims from Hurricane Dorian and Typhoons Faxai and Hagibis, while reporting it expects to see fees and profit commissions dip $25m this year.
Swiss Re suspends share buy-back programme as nat cats bite
Swiss Re has cancelled a share buy-back programme, following a hit from natural catastrophes, capital deployment and the suspension of Reassure's initial public offering.
I work in insurance: Tom Bennett, cyber incident specialist, CFC
Working as cyber incident specialist at CFC Underwriting Tom Bennett ensures he stays abreast of recent developments in both hacker methodologies and cyber defence strategies
This week in Post: Carnival spooks
This week, some Post colleagues and I attended CFC Underwriting's annual Halloween party. The theme this year was carnival, and accordingly, the party was full of clowns, fortune tellers and more than the odd Joker.
Ageas gears up for Dobson's exit with broker team reshuffle
Ageas UK has created three directors of distribution roles, with Chris Dobson set to retire at the end of the year.
SRIL buys Square Mile Broking
Miles Smith owner Specialist Risk Investments has acquired Square Mile Broking.
Zurich’s Cover-More appoints UK CEO
Exclusive: Ernesto Suarez, Halo founder and CEO, has been appointed UK CEO of Zurich's Cover-More.
Aston Lark acquires Lloyd’s broker
Goldman Sachs-backed consolidator Aston Lark has acquired Lloyd’s broker Protean Risk.
Sedgwick hires UK managing directors
Loss adjuster Sedgwick has appointed two managing directors for its UK operations.
Markel International streamlines wholesale operation
Markel International has streamlined the leadership of its wholesale operation by appointing James Hastings as managing director of wholesale, only days after it reshuffled its global strategy management team.
Hastings' new business competitiveness ‘has fallen’ as it prioritises pricing discipline
This year Hastings has priorititised pricing discipline amid a regulatory probe into pricing practices and rising claims inflation, leading to a drop in its competitiveness for new business.
Thingco partnerships director bows out
Exclusive: Thingco partnerships director Richard Trebble has left the business.
AIG to launch Lloyd’s HNW syndicate
AIG intends to launch a Lloyd’s syndicate that will focus on the high-net-worth market in the US.
Travelers slides to underwriting loss for Q3 amid ‘challenging’ tort environment
Travelers saw an underwriting loss of $149m in Q3 this year, as its results were hit by a “challenging” tort environment, weather and “unfavourable” reserve development in business insurance.
Blog: Diversity and inclusion are essential to success in insurance
As data and technology become increasingly important to insurance, Mohit Manchanda, head of consulting for UK and Europe at EXL, believes ensuring the diversity of the teams owning the data, building and maintaining the algorithms, and providing audits…
Markel reshuffles global strategy management team
Markel International national markets director Simon Wilson has been appointed as managing executive of global strategy for insurance operations at the insurer’s US-based parent, the Markel Corporation.