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Latest Aviva news from Insurance Insider
Plus, the latest people moves and all the top news of the week.
The carrier started writing construction in Lloyd’s following the acquisition of Probitas.
The platform aims to “bend the loss curve”.
The Swiss carrier appointed a new global energy head earlier this week.
Plus, the latest people moves and all the top news of the week.
The carrier also reported a slightly improved combined ratio of 94.6%.
The insurer has substantially expanded its marine team in recent years.
The leadership transition at the syndicate was announced earlier this year.
Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
The carrier has appointed Roberts Proskovics as renewable energy risk management head.
The carrier is expanding its appetite for sustainable construction of large commercial buildings.
CFO Jane Pool will also leave the company as Aviva takes over.
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.
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APAC now represents roughly 15% of all Lloyd’s premium.
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The deal confers a high multiple on Convex and gives AIG re/specialty exposure.
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The business has not initiated a sale process, with the wheels not yet actively turning on an exit for Apiary.
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Prices were 37.4p per £1 of capacity, according to Argenta.
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Plus, the latest people moves and all the top news of the week.
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The syndicate is expected to write ~$300mn of business in 2026.
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Starr’s reinsurance ambitions and embrace of Lloyd’s will be watched closely.
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CEO Brand said he expected to deliver double-digit growth, if “marginally” lower in 2026.
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How do struggling governments across the globe tackle stagnating economic growth?
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The fundraising structure for the deal includes a $600mn Convex debt raise.
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Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
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This publication revealed that Starr was zeroing in on the deal earlier today.
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The parties could announce the transaction soon, according to sources.
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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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Brokers may encourage clients to capitalise on falling rates by boosting coverage.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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The MGU’s second syndicate launch was delayed from January 2025.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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Private capital providers are being signed down as two strong years have piqued interest.
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The number of syndicates traded at auction was the highest for a decade.
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The carrier is looking to achieve sustainable growth across its personal lines business.
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Lloyd’s investment vehicles have been shelved in past years but a strong run of returns is creating interest.
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Sam Geddes will join Syndicate 1918 next year in an executive leadership role.
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The company noted tougher market conditions and higher large losses during the year.
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The traditionally lucrative class has faced a series of challenges in the latest geopolitical crisis.
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The hire follows the departure of David Martin to GIC Re Syndicate.
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In Partnership with Swiss ReThe global construction industry continues to expand, says Jimmy Keime, Head of Engineering and Nuclear, for Swiss Re.
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In Partnership with Swiss ReAhead of the upcoming Baden-Baden Reinsurance Meeting, top of mind for many are climate, economy and geopolitics, says Nikhil da Victoria Lobo, Head of P and C Reinsurance for Western and Southern Europe and Middle East and Africa for Swiss Re.
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