Company news
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.
Andy Haste to take over from Sir Peter Wood as Esure chairman
Direct Line and Esure founder Sir Peter Wood is stepping down as chairman of Esure with immediate effect, with Andy Haste named as his successor.
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.
Biba conference cancellation ‘right and only’ thing to do say exhibitors
Insurers and others who had planned to exhibit at the British Insurance Brokers’ Association’s annual conference have welcomed its cancellation and pledged to return next year.
Airmic stops planning for 2020 conference
The coronavirus pandemic has led risk managers’ association Airmic to press pause on planning for its annual conference, which had been set to take place at Edinburgh’s EICC in June.
Arc Legal chases 20% growth following integration of Amtrust stablemate
Legal expenses insurer Arc Legal is aiming to capitalise on developments around whiplash reforms and fixed recoverable costs in commercial disputes, following the integration of fellow Amtrust subsidiary Composite Legal Expenses.
Kingsbridge sold to US-based NSM Insurance
Private equity backer Dunedin has exited Kingsbridge following its sale to Pennsylvania-based NSM Insurance.
Axa names Moquet as UK & Ireland CFO
Axa has appointed Roland Moquet as chief financial officer in the UK and Ireland replacing Amelie Breitburd who is leaving the company.
Blog: Addressing anxiety among insurance workforces in uncertain times
As Covid-19 leads to uncertain working times and practices James McErlean, general manager for Europe, Headspace for Work, explains why insurance managers need to look after their staff well-being.
CMA seeks fining powers as it orders Paymentshield to refund £380,000 to PPI customers
The Competition and Markets Authority is seeking the authority to impose financial penalties for breaches after it ruled Paymentshield must refund customers over £380,000 for payment protection insurance breaches.
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.
LV COR slips to 94.9% in 2019
LV General Insurance Group has posted a 13% fall in operating profit to £93m for the year ended 31 December 2019 as Ogden took another bite out of the insurer’s performance.
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…
Lloyd’s closes underwriting room in coronavirus exercise
On Friday Lloyd’s will close its underwriting room at 1 Lime Street as it tests its alternative trading protocols.
Axa faces backlash as influencer pulls ‘short sighted’ IWD ad
Instagram influencer Simon Hooper has apologised to followers after an International Women’s Day post sponsored by Axa was slated as offensive.
Analysis: Insurers nix staff travel as coronavirus casts shadow over events
Some firms are telling their staff to avoid all but essential work travel in the UK due to coronavirus concerns, leading to some insurance event postponements and cancellations, Post has learned.
Aviva UK COO Hugh Hessing departs
Aviva’s chief operating officer in the UK, Hugh Hessing, has left the insurer, Post can reveal.
Aon CFO outlines costs and timeline of WTW merger
The cost of bringing together Aon and Willis Towers Watson will be up to $1.8bn over three years, with the combined firm facing a months-long process of securing regulatory approval in almost 100 jurisdictions around the world.
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.
Aviva has axed 1200 of 1800 jobs set to be cut
Operating profits for Aviva’s UK general insurance business fell 35% to £250m in 2019, though the result excludes the £45m cost of strengthening reserves following July’s Ogden rate revision, as it revealed it has cut 1200 jobs across the company so far.
‘Light at the end of the tunnel’ on claims inflation says Admiral CEO Stevens
Admiral saw profits rise in 2019 as its UK insurance results were buoyed by positive development in prior year claims costs, reserve releases and commission.
L&G pegs sale of loss making GI business to Allianz at £255m
Legal & General has booked an estimated consideration of £255m for the sale of its general insurance business to Allianz as the division reported an operating loss of £35m for 2019.
Best Insurance Employer Winner: Prina Mashru, head of human resources, Konsileo
PREMIUM: Konsileo was voted as the best company to work for in the insurance industry. Post spoke to its head of human resources Prina Mashru to find out why
Best Insurance Employer: Sharon Juleff, people director, LV General Insurance
PREMIUM: LV General Insurance was voted as one of the top four companies to work for in the insurance industry. Post spoke to Sharon Juleff, its people director, to find out why.