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.
Munich Re was hit by €700m (£631.7m) of Covid-19 related reinsurance losses in the second quarter taking its year to date figure to €1.5bn, the reinsurer has revealed.
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
CDL Group has reported a 5.1% fall in turnover to £52.9m along with a 31.4% drop in post-tax profit to £4.7m for the year ended 30 September 2019.
The liquidator of unrated insurer Gable has found ‘trapped funds’ in the company originally valued at CHF 85m (£71.8m) are not recoverable.
Axa XL has confirmed former Lloyd’s leader Sean McGovern as CEO for the UK and Lloyd’s market having held the role on an interim basis since April.
Recently capital raisings by insurers aimed at ensuring they have sufficient capacity to support their trading partners and clients during the Covid-19 crisis have been widely reported. Clare Lebecq, CEO of the London Market Group believes the ability of…
The Flood Re scheme incurred gross claims of £160m in 2019/20, more than the total paid in its first three years of existence.
Chubb has estimated that it will face $1.37bn (£1.1bn) of pre-tax losses - $1.16bn after tax - in its second quarter results due to the global coronavirus pandemic.
Insurtech Concirrus has raised $6m (£4.8m) through an investment from Commerzventures, Post can reveal.
Former Zurich UK general insurance CEO Dave Smith has joined AIG UK as a non-executive director and is set to become chair of the risk committee.
Amanda Blanc has pledged to address the underperformance of recent years for Aviva’s investors and to set out an ambitious strategic path.
Bob Darling is to step down as CEO of Jensten Group on 5 August and will be succeeded by Alistair Hardie, who is currently CEO of Charles Taylor’s assistance and specialist claims management business.
Direct Insurance Group has appointed Andy Graham as head of specialist liability for its London market and Lloyd’s broking division.
Former Axa and Zurich boss Amanda Blanc has become Aviva CEO, replacing Maurice Tulloch who has stepped down from the role and the company’s board due to family health reasons.
Arag has posted a 14.7% rise in turnover to £14.1m for the year to 31 December 2019.
Despite increased sentiment and some rallies in markets, Lionel Pernias, head of buy and maintain at Axa Investment Managers believes that there are still plenty of challenges ahead for insurers' investments, particularly in their credit portfolios.