Reinsurance
Marsh and Citi support vaccine efforts; Hudson takes majority Occam stake; Simply Business in Barclays tie up; Aston Lark strikes Irish deal; RAC picks Premium Credit
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Swiss Re appoints Jason Richards as UK and Ireland CEO
Swiss Re has named Jason Richards as country president and CEO of UK and Ireland effective 1 January 2022.
Willis Re buy a growth not a synergy story, say Gallagher chiefs
The up to $4bn (£2.9bn) purchase of Willis Re will be a manageable integration costing $250m over three years, according to the leaders of Gallagher.
Analysis: Europe's costliest weather event
Floods caused by torrential rain across western and central Europe in July are likely to become the continent’s costliest weather event, raising the question of how prepared at-risk communities and insurers are to deal with the onset of climate change.
Gallagher to buy Willis Re for up to $4bn
Gallagher has agreed to pay up to $4bn (£2.9bn) for Willis Re's treaty reinsurance brokerage operations, reviving the deal that was called off when Aon’s takeover of Willis Towers Watson collapsed.
Insurance Cyber Incident Tracker
Data rich insurance businesses have been warned they are a prime target for cyber criminals, with major firms facing up to cyber disruption and ransomware attacks. Who has been affected?
Willis Re 'only business' WTW exploring strategic alternatives for: Haley
Willis Towers Watson is exploring "strategic alternatives" for Willis Re but not other parts of the business, CEO John Haley said on Tuesday.
Hiscox shifts cyber insurance stance as it posts $133m H1 profit
Hiscox is seeking to cut its reinsurance exposure to cyber-attacks and refocus its retail cyber insurance portfolio on smaller businesses amid the global surge in ransomware attacks.
Aon share price soars as WTW and Gallagher’s dip after mega-deal termination
Aon’s share price rose as its mega-merger with Willis Towers Watson was terminated, while its deal partner and rival Gallagher’s fell.
WTW sells Irish arm to GRP; motor premiums hit five year low; Questgates acquires two firms and LV tops new customer experience report
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
View from the top video: Diversity and inclusion in insurance
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference an expert panel described the D&I challenge in insurance.
Hiscox CEO Bronek Masojada to retire as insurer names successor
Hiscox CEO Bronek Masojada, who has been in post for 21 years, intends to retire at the end of the year.
View from the Top video: Tackling climate change - managing emerging risks and reducing carbon
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 William McDonnell, group chief risk officer at RSA, addresses the risk that climate change poses to insurers.
Aspen adds Aileen Mathieson as group CIO
Aspen Insurance has appointed Aileen Mathieson as group chief investment officer.
View from the Top video: Driving capital optimisation
In this exclusive interview recorded as part of the Insurance Post Live Annual Conference 2021 Eric Paire, head of capital advisory, Aon, discussed why insurers might be struggling to create a positive spread above their cost of capital.
Blog: A time for the insurance sector to aim higher
With the end of the Covid pandemic edging closer, now is the time for the insurance industry to put its weight behind societal and environmental change, argues Peter Mansfield, RPC partner.
Reinsurers face up to $400m bill for spectator free Tokyo Olympics
Reinsurers will see up to a $400m claims hit from a spectator free Tokyo Olympic Games, ratings agency Fitch has calculated.
Flood Re confident on lowering levy to £135m for next financial year
Flood Re is confident that its build back better proposals and reduced insurer levy will soon get government approval, CEO Andy Bord has confirmed, as he detailed plans for the organisation to buy lower limits in its own reinsurance programme.
Somerset Bridge Group posts loss but rising Ebitda ahead of sale
Somerset Bridge Group has reported a loss after tax of £42.4m for the year ended 31 December 2020 ahead of being snapped up by Bermuda reinsurer Arch Re.
European Commission approves Aon/WTW merger on condition of divestitures
The European Commission has approved Aon’s $30m (£22m) takeover of Willis Towers Watson, on the condition that parts of WTW’s business are divested.
Pool Re launches advisory panel to explore public-private collaboration on systemic risks
Pool Re has launched an advisory group to develop recommendations for how the insurance sector can work together with the wider private sector and public sector to guard against systemic risks such as climate change and cyberterrorism.
Insurance Post TV ESG special: Do customers care about how sustainable their insurer is? Featuring Allianz, Parhelion and We Are Guernsey
Today Insurance Post reveals the latest episode of its ‘magazine-style’ television show, which aims to get under the skin of some of the best read stories and articles that have appeared in print or online recently.
Parhelion co-CEO Richardson asserts insurers need to move on from a ‘piecemeal’ ESG approach
The co-CEO of the self-proclaimed ‘world’s first sustainable insurer’ has admitted that he regards Parhelion as a “pathfinder” for the industry and hopes others will follow it into fully committing to the environmental, social and governance space…
Climate Wise outlines priorities; WTW claims Lloyd's digital first with Ki; AIG publishes ESG report; Freedom secures funding
Post wraps up the major insurance deals, launches, investments and strategic moves of the week.