All articles by Matt Scott – Page 4
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NewsAXA cuts dividend in wake of €1.2bn Covid-19 claims estimate
The insurer said increased claims would mostly come from business interruption and event cancellation business
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NewsFraudster sentenced to 12 months for false £4,000 personal injury claim
Fitzhugh Stephenson said he was encouraged to submit a claim after receiving a call from a claims management company
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NewsPIB acquires Munich-based broker Marx Re
The acquisition marks PIB’s first foray into the reinsurance broking market
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NewsCustomers need brokers “more than ever” says Ross after Ardonagh reports uptick in EBITDA despite coronavirus crisis
The broker attributed this growth to “accretive investments in growth initiatives, including producer hires, bolt-on acquisitions, and the continued delivery of cost savings”.
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NewsBrokers overwhelmingly agree the industry’s reputation has been badly damaged by Covid-19
Some 24% of those surveyed said the industry had been very badly damaged, while 53% said it had been badly damaged.
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NewsBeazley shares up 13% after £247m capital raise
The insurer’s share price responded well to the news, at one point rising as much as 13% on yesterday’s closing price.
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NewsAllianz GWP tops £1bn following acquisitions
The LV= and L&G deals have doubled the size of the insurer
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NewsRSA’s Hester apologises to shareholders but says insurer is in ‘good shape’
The insurer’s share price has been performing poorly, losing almost a third of its value since the beginning of the year
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NewsRSA reveals £25m of Covid-19 claims to end of April
But reinsurance for its travel book and business interruption policy exclusions have limited the insurer’s exposure to the pandemic
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News AnalysisAIG reveals limited BI exposure despite $272m Covid-19 hit
Chief executive Brian Duperreault describes Covid-19 as “the single largest CAT loss the industry has ever seen”
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NewsMarkel confirms Olympics and Wimbledon exposure as it reveals $325m coronavirus hit
The insurer is also preparing for “significant litigation” surrounding the handling of pandemic claims and is reviewing wordings to limit future risk exposure
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Online onlyEsure back in profit but underwriting struggles continue
A 5.5 percentage point improvement in the insurer’s overall combined operating ratio was not enough to report a positive underwriting result
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Online onlyUnrated Gefion ordered to stop writing business
The move comes after the Danish FSA failed to approve the insurer’s recovery plan
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Online onlyPen Underwriting appoints new chief exec
While former boss Jonathan Turner moves to head up Gallagher’s UK-based specialty business
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Online onlyHome insurers back in underwriting profit after tough 2018
But EY says future market conditions expected to dampen underwriting success going forward
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Online onlyMotor market set for underwriting losses as soft market hits hard
EY predicts a 2019 combined operating ratio of 105.7%
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NewsAviva’s personal lines MD on the future of etrading
Aviva’s Fast Trade platform celebrates its 10 year anniversary this year, but Gareth Hemming says it is still building for the future
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Online onlyWant to make more money out of schemes? Index reveals most profitable lines
Public liability insurance offers highest renewal commission. Meanwhile, cyber is up and coming as a product bringing good profits to brokers, but more needs to be done to improve understanding
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Online onlyREVEALED: The most complained about brokers and insurers
The FCA complaints data reveals the most complained about insurance companies over the first half of 2019
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FeaturesWhy Ogden is not over yet
The Ogden discount rate may have been set for the next few years, but that does not mean the changes are over. Insurers are still working out what a negative discount rate means for the industry, and further changes may be appearing on the horizon sooner than many may realise
