RSA
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The carrier's UK portfolio will no longer be written with an in-house team.
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The carrier has also hired Henry Henderson from Liberty.
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The Build consortium will target sectors including renewables, power, waste to energy, infrastructure and innovation.
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The sale of the carrier’s home and pet operations includes an initial cash consideration of £82.5mn, with the potential to earn up to £32.5mn more.
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Deans joins from CNA Hardy, where she was a property underwriter since 2010.
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The executive will work to grow the company’s MGA proposition and expand in key international markets.
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Intact and RSA will pay a £520mn cash consideration for the brokered commercial lines operation.
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The carrier has received approval from the UK Financial Conduct Authority for the £550mn sale.
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The Manchester-based role will see Houghton managing the firm's financial risks portfolio.
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The executive has worked at RSA for the past 19 years in actuarial and finance roles.
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The carrier said a post-Covid rebound in travel was creating opportunities in the A&H sector.
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The news comes after it emerged last week that RSA was launching into the superyacht class of business.
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The underwriter moves to NorthStandard following the recent merger of North and Standard Club.
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Adeyemo is stepping into the role soon to be vacated by current UK construction lead, Trevor Chainey, who is retiring after a 45-year career.
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Chubb has experienced high turnover within its marine team in the past year.
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The move is designed to improve the strength and sustainability of the UK and international business.
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The carrier aims to achieve an energy underwriting portfolio that is 75% low-carbon in seven years’ time.
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Neil Cryer joins from CNA, where he spent nearly seven years as head of property D&F.
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The appointment comes amid a flurry of movement within the construction class.
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Two of the carrier’s underwriters were hired by new entrant IQUW to build its book of business.
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The announcement follows Intact and Tryg’s acquisition of the business earlier this year.
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Both underwriters used to be colleagues in the marine hull team at RSA prior to Stuart Forsyth’s departure.
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RSA’s London Market and European specialty lines teams are to set to join forces with Intact’s global specialty team, following Intact’s acquisition of RSA’s UK & International business (UK&I) in June.
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Andy Jones will lead RSA’s risk consulting team and starts his new role with immediate effect.
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Lawyers argue the hotel’s claim is similar to that of four pubs against FBD, in which the courts found against the insurer.
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The newly acquired carrier has confirmed a payout of £80mn for UK Covid-19 claims so far.
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Intact seals the sale just days after the completion of the larger takeover.
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The information-gathering exercise for large insurers and banks won’t dictate capital requirements.
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The central bank governor said such a move would require ‘robust data.
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RSA CFO Charlotte Jones will remain on the board, after originally expecting to stand down.
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The parties reiterated their expectation of a 1 June close for the deal.
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The group reports an 86% CoR in its last trading update as a listed entity.
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Canadian carrier Intact is to issue C$250mn ($198.5mn) of subordinated debt in order to fund its takeover, with Danish insurer Tryg, of RSA.
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The former RSA CFO has been UK and international CEO since 2019.
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RSA has reported £259mn ($361mn) in Covid-19 losses for 2020, as well as a reduction in premium for the year of £166mn due to the pandemic.
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Fenchurch Law partner suggests "aggressive" initial claims adjustments will be unwound and the reinsurance context will need specific consideration.
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Conditions ahead of the deal’s closing include the completion of a Tryg rights issue, regulatory clearances and High Court approval.
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The carrier still expects net losses from Covid-19 to cost about £62mn.
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The ruling in favour of Spire Healthcare reaffirms legal principles relating to the aggregation of claims.
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He replaces long-serving executive Gary Long, who retired earlier in the year.
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The 10-year and 30-year bonds will be issued in a private placement.
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RSA’s Scandinavia finance chief will replace Mark Allan, who is moving to run new syndicate Ki.
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Canadian pension fund managers CDPQ, CPP and OTPP back the subscriptions receipt issue.
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The boards of the companies moved one step closer to an agreement for the proposed acquisition.
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Existing capacity relationships include those with Aviva and Tokio Marine HCC.
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The fundamental issue of causation, as well as trends clauses and the Orient Express judgment, will be under scrutiny.
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Thoughts vary on the prospects for a rival bid, but share price sits 4% below the offer price.
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The offer is a 52% premium to the target’s undisturbed price.
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Sky News names former trade minister Baroness Fairhead as potential replacement.
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The likelihood of a heavy loss rises, but some elements including requirements around mandatory shutdowns are a silver lining.
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Reinsurance recoveries and a drop in overall claims will offset the BI loss hike.
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The hotly anticipated judgment will be a milestone in the ongoing dispute about how carriers respond to Covid lockdown-related losses.
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Carrier will also reduce office space, improve technology and simplify its product suite.
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An improved claims picture offset investment losses and reduced premiums.
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In robust arguments carriers dispute the causation of losses and the nature of specific wordings.
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The Irish central bank finds Rory O'Connor "knowingly and actively" under-reserved and gave false information to the supervisor.
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The late July High Court hearing will also involve Arch, Argenta and QBE.
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Law firm Edwin Coe rallies more policyholders seeking claims for BI losses.
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The insurer says the “great majority” of BI claims will not pay out.
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The carrier underwrites the policy on behalf of Gallagher and has around 2,000 customers.
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The regulator reiterates call for prudence after Hiscox, Aviva, RSA and Direct Line pull payouts.
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The carrier says rivals’ actions vindicate portfolio cuts at its London market business.
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Ciara and Dennis may turn out to be the most significant European windstorm losses since 2018.
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The carrier reported an improvement in weather, large and attritional losses.
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The executive has previously held senior roles at Scor and AGCS.
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The executive moves from trade body Insurance Ireland, where he was CEO for seven years.
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The commercial risk solutions and global risk solutions divisions unite, with global risk solutions chief Tony Buckle set to depart.
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Including the impact of a restructuring, bottom-line earnings lag forecasts.
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The carrier’s 'exit portfolio' generated a small loss, although the overall combined ratio improved.
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Alan Midson has joined from JLT to lead the food and beverage business.
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RSA pricing director Richard Read will take on the role until a successor is found.
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Does size matter? RSA CEO Stephen Hester thinks it doesn’t.
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London market and weather claims pull underwriting earnings down by more than a third.
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Charlotte Jones will join by the summer after Scott Egan was moved to lead the UK and international unit.
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A keen valuation and high-performing Canadian and Scandinavian operations make the London-listed insurer a potential bid candidate.
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Steve Lewis steps down from the divisional CEO role amid a retrenchment at the London market component.
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The move follows the carrier’s decision to streamline Mapfre Global Risks.
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Investigation reveals deliberate under-reserving between 2009 and 2013.
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The appointment comes amid a restructuring of the carrier's London market operation.
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The transfer to Luxembourg includes mainland European commercial policies written in London.
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Jones replaces Gareth Hilton.
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