Markerstudy's purchase of Co-op’s underwriting business could lead to up to 300 redundancies, with the group telling Post it has committed to keeping 700 staff and is actively engaging with Unite the union.
Finnish insurer Sampo and South African financial services firm Rand Merchant Investment Holdings have agreed a £1.66bn takeover with the directors of Hastings.
Aon and Willis Towers Watson have decried the filing of five legal cases across the US by “purported” shareholders and slammed the complaints for being “without merit”.
Direct Line Group remains open to inorganic growth from acquisitions and partnerships despite the Covid-19 impact, DLG chief financial officer Tim Harris has confirmed.
AIG reported an underwriting loss of $343m (£262.8m) for general insurance business in the second quarter of 2020.
Trade union Unite has accused Co-op of having "forgotten its principles" by selling its Manchester-based insurance business to Markerstudy, alleging the deal will result in 200 job losses.
Lloyd’s will limit access to its underwriting room when it reopens on 1 September giving underwriters and brokers in different classes of business set days for face-to-face meetings at One Lime Street.
Motoring group The AA has confirmed holding takeover talks with three private equity parties as it discusses “a wide range of potential refinancing options”.
Covéa will invest €1.5bn (£1.35m) with Exor and special purpose reinsurance vehicles managed by Partner Re, after its bid to buy the reinsurer fell apart earlier this year.
RSA will look to cut further costs in its UK arm, RSA CEO Stephen Hester confirmed as the insurer released it first half results for 2020.
Hiscox swung into a loss for the first half of 2020 as it increased its Covid-19 claims hit estimate.
In a half year results call, Marsh and McLennan CEO Dan Glaser aired a “personal” view that the Aon and Willis Towers Watson merger will be negative for clients and the market .
Lloyd’s today confirmed a re-run of its culture survey, set a gender target for the market and said it would look to set an ethnicity target in 2021.
High Court approval of Lloyd’s proposed transfer of European policies to its Brussels subsidiary is not assured, according to an expert with experience of portfolio transfers.
Sharon Bishop has stepped down as Close Brothers premium finance CEO, as the company announced changes to its leadership team.
Hastings has confirmed it has been approached by Sampo and Rand Merchant Investment Holdings with a potential cash bid for the business.
The net liability position of Complete Cover’s ultimate holding company Key Topco improved from a deficit of £93.4m at the end of 2018 to just £1.7m by the end of March 2020 after the takeover by Sun Capital Partners at the start of this year.
The new backers of Mulsanne Insurance Company had to invest £7m into the Gibraltar-based underwriter this April to meet solvency capital requirements.
Motor specialist insurer Sabre was pleased overall with the half-year results as the coronavirus pandemic pushed premiums down 14% to £86.9m, CEO Geoff Carter told Post.
Following a leadership restructure earlier this year and the confirmation of former Lloyd’s leader Sean McGovern as CEO for the UK and Lloyd’s market, Axa XL has now made changes to the leadership team for its UK and Lloyd’s region.
LV General Insurance has started the clock on a two-and-a-half-year integration of Legal & General’s general insurance business that is expected to impact 14% of jobs across the two Allianz businesses.
Ecclesiastical has recruited Jeremy Trott from Allianz to fill the claims director role with David Bonehill retiring this October.
The effective date for the Part VII scheme that will transfer Lloyd’s European policies to its subsidiary in Brussels has been pushed back to 30 December following a delay to the final court hearing in the process.
QBE has predicted it will deliver a $750m (£581.7m) post tax loss when its half year results for 2020 are published next month.