The transfer of Allianz’s personal lines business to LV is expected to take at least 18 months, according to LV general insurance CEO Steve Treloar.
LV general insurance CEO hopes that the impact of the Beast from the East on insurers’ property portfolios will introduce a level of “pricing realism” into the market.
LV’s general insurance business saw profits more than halve in H1 owing to claims from the Beast from the East.
Brit’s pre-tax profit nose-dived 87.5% in the first six months of 2018 on the back of poor investment returns.
Aviva anticipates placing millions of pounds of personal lines business through Fast Trade by the end of the year, according to managing director of UK general insurance Rob Townend and managing director of intermediaries Phil Bayles.
Aviva sees growth across every broker segment despite fall out with GRP, Aviva managing director for intermediaries Phil Bayles has confirmed.
Axa UK and Ireland has seen personal lines revenue fall in its H1 results following the loss of the Marks & Spencer white label books to Aviva.
Despite weather claims that hit operating profit, Aviva’s UK general insurance arm has reported a combined operating ratio of 94.3% for the first half of 2018, a slight increase on 2017, when it was 93.2%.
RSA posted a 15% drop in group operating profit for the first six months of the year as British and Canadian weather losses dent the insurers’ results.
When Paul Geddes took over the role of CEO of Royal Bank of Scotland’s insurance business in July 2009, moving from the retail arm of the bank, and replacing Chris Sullivan, I cannot remember many getting too excited.
The motor insurance market has kept a ‘rational’ head amidst uncertain pricing and changing whiplash reform, Direct Line Group’s CEO Paul Geddes said.
Direct Line Group saw operating profit slide in the first half of 2018, as it was hit by weather-related claims.
Motor insurer Sabre is looking to add insurtech platforms to its distribution model.
Carriers in the London market must work together in consortiums to spread risk, combat rising expenses ratios and mitigate underwriting pressures, Hiscox chairman Robert Childs said.
Sabre will raise premium prices in the second half of the year, owing to increased market-wide claims inflation.
Hiscox saw pre-tax profit climb 27% to $164m (£125m) in the first half of 2018, with the insurer’s retail arm contributing more than half of that figure.
Gallagher saw its net earnings climb to $3.43bn for the first half of 2018, up 27% from $3.07bn in the same period in 2017.
JLT has said that carrying more bolt-on acquisition in the European Union is ‘entirely possible’ and that it is executing business operations in preparation for a no deal Brexit scenario.
Bermuda-based Lancashire saw profits slip 15% and gross written premiums dive 4.3% in the second quarter of 2018.
Aston Lark has reported a 6% revenue increase in its first set of financial results since the merger of Lark Group and Aston Scott.
With the World Cup firmly in French hands and Novak Djokovic and Angelique Kerber crowned Wimbledon champions, it’s back to work for the insurance industry with all eyes turning to Westminster.
Debenhams has said it retains a ‘constructive relationship’ with its credit insurers as the ailing retailer has its cover reduced.
AM Best has assigned the Lloyd’s Brussels hub a Financial Strength Rating of ‘A’ (Excellent) and a Long-Term Issuer Credit Rating of ‘a+’.
Fairfax Financial Holdings, the parent of Advent Capital Holdings and Brit, is planning to merge some of their Lloyd’s business and place the rest into run-off.