Company news

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.

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.

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.

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