Axa

Axa UK has appointed David Ovenden from Willis Towers Watson as CUO for its commercial business, a role where he will be tasked to deliver pricing and underwriting programmes and oversee a continual development of underwriting capabilities.

Nine (re)insurance firms in London took part in the programme for career-break women, organised by diversity and inclusion firm Inclusivity and supported by the Insurance Families Network.

The carrier has finished the sale of its 50% shareholding in Axa Gulf and 34% shareholding in Axa Cooperative Insurance Company.

Insurers have now shelled out just over £968mn to BI policyholders in interim and final settlements.

The company said the divestment was part of its simplification strategy.

The Financial Conduct Authority’s latest release on UK claims data for Covid-related BI losses shows an acceleration of acceptances during June.

The legacy unit is marketing legacy books in Germany and the UK as it unwinds its third-party book.

The carrier has been central to the launch of a net-zero underwriting alliance in the run-up to the COP26 conference.

The insurer said the move would drive synergies and aid expansion in growth markets.

The total consideration for the combined transactions, including MPI Generali, is RM1.3bn ($311mn), subject to closing adjustments.

The carrier will mobilise 3,000 general agents plus distribution partners to make offers on an “unprecedented scale”.

The information-gathering exercise for large insurers and banks won’t dictate capital requirements.