Aviva
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The syndicate reported an undiscounted net combined operating ratio of 77.9%. -
The carrier recently started underwriting construction in Lloyd’s through Probitas.
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Probitas is set to grow by around 40% this year.
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Panellists discussed the softening market, and what would flip the switch on rates.
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Aviva is targeting £125mn of annual savings within three years of the deal.
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This follows a preliminary agreement reached earlier this month.
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Aviva increases its offer to 275p per Direct Line share.
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Analysts suggested Aviva could sweeten its offer for the UK personal-lines carrier.
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The insurer will have until Christmas to make a formal offer or withdraw.
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The carrier can write marine on company and Lloyd’s platforms after the Probitas deal.
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Improved underwriting results thanks to pricing action were offset by nat cat activity in Canada.
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