Financial – Page 63
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NewsRSA scoops ex-Aviva boss as new chair amid Intact takeover
After it was confirmed that Scott Egan, RSA’s chief executive will stay on following the Intact deal, RSA has named two new senior recruits
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NewsAviva to sell Polish unit to Allianz for €2.5bn
It is the eighth transaction that Aviva has announced over the past eight months, and concludes the planned refocus of the group’s portfolio
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FeaturesArdonagh ‘on cusp’ of solving BI issue before FCA test case halted project
In a call with media this morning, Ardonagh’s chief executive David Ross spoke about how an industry working group was ’on the cusp’ of finalising a solution for business interruption claims, but the FCA Supreme Court case put a stop to this
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NewsCapital gains tax fears sparks M&A broker boom
Private equity backed consolidators snapped up a huge number of brokers selling before the Spring Budget, and Aston Lark, which is now backed by the might of private equity arm of Goldman Sachs, led the way.
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NewsArdonagh full-year results proves our ’resilience and resolve’ – David Ross
The broker’s chief executive, David Ross says that the growth in results is a “testament to our culture of resilience and resolve”
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FeaturesBriefing: Intact is excellent, but faces big challenge with RSA buy
RSA’s new owner Intact will need to woo brokers
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IT InterviewMore deals on the horizon beyond Brightside says Markerstudy’s Humphreys
The company’s group underwriting director believes ‘Covid has created opportunities for growth’, however office space may be scaled back following Brightside’s acquisition due to new, pandemic-influenced working patterns
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NewsFCA extends pricing remedy implementation until end of 2021
The regulator has confirmed the amended timetable to ensure firms can ‘plan their change programmes effectively’, however the CII believes ‘this may not be enough time for firms to get all practices in place’
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NewsBroker supports humanitarian cat bond first
The new product aims ‘to bridge the insurance gap and allow greater access to insurance and the capital markets for the benefit of the charitable sector and those affected by natural disasters’
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News AnalysisCovid-19 pandemic exacerbates fine art insurance’s hard market conditions
The art sector is heavily reliant on social contact, so the uncertainty of the coronavirus lockdowns have created added risks and challenges from pushing sales online
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NewsPRA chief executive says regulator not interested in adding to its responsibilities
Sam Woods denies ‘the caricature of a rampant regulator intent on crushing the industry under a slow motion avalanche of new capital requirements’, but acknowledges that ‘a changing world requires a tough but flexible regulatory regime’
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NewsInsurance industry will drive green future – Fitch Ratings
Insurers have been told they have a key role to play in supporting the transition to a more sustainable economy
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NewsEcclesiastical blames Covid-19 for recorded £15.7m loss before tax in 2020
The insurer also paid out £18.7m for coronavirus-related claims ‘where there is confirmed cover’
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NewsDavies Group attracts majority stake private equity investment
Chief executive says the transaction marks the ‘next phase of international growth and technology investment’ for Davies Group
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FeaturesBriefing: FCA could be setting sector up to fail with four-month pricing implementation period
The FCA took its time crafting the foundations of its general insurance pricing review, however it expects insurance businesses to turn around rule changes on the double – surely it’s in nobody’s interest to rush such a pivotal market change?
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NewsLockdown accelerates Aviva’s online trading by 20%
The insurer hopes to continue investing in its direct business, as well as its commercial, broker and bank channels
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FeaturesBrexit unlocks opportunities for solvency II reform
Industry commentators believe there is ‘room for improvement’ around the solvency II regulations as Brexit heralds an opportunity to shape the rules to better suit UK businesses
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NewsSabre puts drop in GWP down to recurring lockdowns
The insurer believes that it is well positioned as lockdown unwinds
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NewsMGAs set to explore new ways to access capacity
In the hunt for capacity, some MGAs are turning to financial centres such as Guernsey and Gibraltar, adds Robus Risk Services
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Online onlyEsure swings back to profit as insurer aims to ‘leapfrog’ rivals
The insurer’s chief executive believes that technology and data science is the key to winning insurance’s ’game of small inches’
