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Latest Aviva news from Insurance Insider
The carrier is expanding its appetite for sustainable construction of large commercial buildings.
The £3.7bn deal was announced in December.
Jim Meakins is the latest in a slew of talent to exit from the syndicate.
Frustration is growing around a promised independent operating model and staff reward.
The undiscounted combined operating ratio worsened slightly to 96.6%.
Aviva and Direct Line struck the landmark deal in December.
The syndicate reported an undiscounted net combined operating ratio of 77.9%.
The carrier recently started underwriting construction in Lloyd’s through Probitas.
Probitas is set to grow by around 40% this year.
Panellists discussed the softening market, and what would flip the switch on rates.
Aviva is targeting £125mn of annual savings within three years of the deal.
This follows a preliminary agreement reached earlier this month.
Aviva increases its offer to 275p per Direct Line share.
Analysts suggested Aviva could sweeten its offer for the UK personal-lines carrier.
The insurer will have until Christmas to make a formal offer or withdraw.
The carrier can write marine on company and Lloyd’s platforms after the Probitas deal.
Improved underwriting results thanks to pricing action were offset by nat cat activity in Canada.
The carrier is set to start underwriting five new lines of business in the Lloyd’s market.
In Partnership With
Allianz Commerical
Lloyd's ambitions to attract large corporates to the marketplace is well known. But how has one of its major coups - the re-entry of Aviva via the acquisition of Probitas - impacted growth?
Simon Theobald joins from AIG where he was senior construction underwriter.
The executive said that being in Lloyd’s would help the carrier’s global distribution.
The carrier said the global commercial market was “highly attractive".
The carrier is aiming to grow its delegated authority business and launch a refreshed captives proposition.
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The Lloyd’s syndicate was one of just a couple of reinsurance start-ups in the current hard market.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
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