Aviva
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The breakdown of discussions that had been expected to yield a deal leave the ownership of Ash Bathia’s Lloyd’s business in question. -
The carrier has also made Tracy Garrad CEO of Aviva Canada.
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Staffing upheaval continues in the marine class of business, as companies battle to hire and retain talent.
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The carrier’s GI unit reported a combined ratio of 94.8% for the first six months of the year.
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Aviva has seen a number of staff exits from its D&O team, with senior personnel leaving to launch a book at Westfield Specialty.
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New accounting standards impact the timing of when profit emerges on a contract.
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The two firms held serious talks last year but were unable to get a deal to the line due to a valuation mismatch.
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A small number of GCS staff have been dismissed from the business as a result of the investigation.
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The carrier has made several new hires to compliment the new structure.
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It emerged earlier this month that Westfield Specialty was launching a D&O book through Syndicate 1200.
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Previous marine chief Nick Holding resigned from the carrier earlier this year.
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The carrier’s combined ratio for commercial lines in Canada, Ireland and the UK strengthened slightly to 95.4%.
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