Aviva
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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.
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The platform aims to “bend the loss curve”.
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The Swiss carrier appointed a new global energy head earlier this week.
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Plus, the latest people moves and all the top news of the week.
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The carrier also reported a slightly improved combined ratio of 94.6%.
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The insurer has substantially expanded its marine team in recent years.
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The leadership transition at the syndicate was announced earlier this year.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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The carrier has appointed Roberts Proskovics as renewable energy risk management head.
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The carrier is expanding its appetite for sustainable construction of large commercial buildings.
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CFO Jane Pool will also leave the company as Aviva takes over.
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The £3.7bn deal was announced in December.
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Jim Meakins is the latest in a slew of talent to exit from the syndicate.
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Frustration is growing around a promised independent operating model and staff reward.
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The undiscounted combined operating ratio worsened slightly to 96.6%.
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Aviva and Direct Line struck the landmark deal in December.
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The syndicate reported an undiscounted net combined operating ratio of 77.9%.
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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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The carrier is set to start underwriting five new lines of business in the Lloyd’s market.
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Simon Theobald joins from AIG where he was senior construction underwriter.
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The executive said that being in Lloyd’s would help the carrier’s global distribution.
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The carrier said the global commercial market was “highly attractive".
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The carrier is aiming to grow its delegated authority business and launch a refreshed captives proposition.
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A round-up of all the news you need today, including an updated forecast for Atlantic hurricane season.
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The carrier made several attempts to acquire the Ash Bathia-led syndicate.
