Articles by Jen Frost
Gefion to enter run-off as regulator revokes insurance license
Danish unrated insurer Gefion will enter solvent liquidation as the Danish regulator has chosen to withdraw its license, the insurer has said.
Zego beefs up debt with Triplepoint
Insurtech Zego has taken on additional funds from venture capitalist debt provider Triplepoint.
Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Briefing: Aviva on the money on executive pay
Aviva’s advice on executive pay and corporate governance and responsibility is bang on the money.
Markerstudy’s board directors take 50% pay cut
Amid almost 500 redundancies at Markerstudy, the group's board has taken a 50% pay cut, Post can reveal.
Ardonagh acquires Bravo and Arachas as it launches $500m notes offering
The Ardonagh Group has launched a $500m (£401m) notes offering, having agreed the purchase of Bravo Group and Arachas.
Former RSA Ireland CFO fined €70,000 and barred for eight years
Rory O’Connor, former executive director and chief financial officer of RSA Ireland Insurance, has been fined €70,000 and disqualified for eight years and four months by the Central Bank of Ireland.
Briefing: FCA’s business interruption test case – misreading the room
Reactions to Tuesday’s Financial Conduct Authority business interruption hearing suggest that insurers – or at least their lawyers – may be misreading the room.
FCA disputes BI ‘conflict of interest’ allegations
The Financial Conduct Authority has today denied there is any conflict of interest in relation to the law firm engaged on its business interruption test case.
BGL CEO Matthew Donaldson to step down this week
BGL CEO Matthew Donaldson will leave the business on 19 June after 20 years at the broker, to be succeeded by the former CEO of RBS’ digital banking app.
Insurers and FCA butt heads on pandemic spread analysis in BI case
Insurers’ counsel have decried the Financial Conduct Authority’s intention to use the “controversial” Cambridge analysis of Covid-19 spread in its business interruption test case, as representatives warned another trial might be needed to iron out…
Hiscox plots comparison between Sweden and ‘draconian’ UK in BI test case
Hiscox could look to an analysis of the Covid-19 economic impact on Sweden versus the UK, which its counsel said has faced “draconian” lockdown measures, as a defence in the Financial Conduct Authority’s business interruption test case.
This week: Contra proferentem
No – it’s not a Harry Potter spell. This week the Financial Conduct Authority said it would whip out the ‘contra proferentem’ argument on behalf of policyholders in its business interruption test case against insurers.
Mike Bruce ascends to GRP CEO as Searchlight deal completes
Searchlight Capital’s GRP deal has completed, with former group managing director Mike Bruce becoming group CEO of the broker.
In numbers: The FCA’s business interruption insurance test case
Updated: The Financial Conduct Authority has received 105 letters from MPs concerned about business interruption insurance, 51 relating to RSA’s Cottagesure policies, according a representative of the regulator, who revealed several key stats in his…
Brokers flagged concerns to FCA over ‘long-term’ damage to industry due to BI claims handling
Insurers have been accused of mis-steps in claims handling on four counts by brokers, according to a witness statement from Financial Conduct Authority director of general insurance and conduct specialists Matthew Brewis.
Briefing: Pat Gallagher’s anti-racism pledge – Simon Matson, Vyvienne Wade and the elephant in the room
It's a positive step that the industry says it is taking a stand against racism and discrimination, but one pledge, in particular, feels somewhat hollow given recent events.
Briefing: Lemonade’s IPO plans – losses, lines, Lloyd's and 'love'
Lemonade will seek to raise up to $100m (£78.5m) via an initial public offering, with its prospectus shedding snippets of insight into its past, present and future.
Lemonade files for IPO
Insurtech Lemonade has made an application to go public on the New York Stock Exchange.
Royal London to absorb Police Mutual
The Police Mutual Group will become part of life and pensions mutual Royal London, a move driven by a need to bolster its financial position, according to Police Mutual CEO John Perks.
Nearly 500 people set to lose their jobs at Markerstudy
Markerstudy has opened a “redundancy consultation exercise”, the insurer has confirmed.
Briefing: Business interruption insurance – reported ‘u-turns’ have yet to prove significant
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
Briefing: Aon pay cuts – let’s not mistake consent for approval
Aon UK chief operating officer Nathan Shanaghy and the rest of the leadership team may have been left “humbled” by staff responses to global pay cuts, but that doesn’t mean the broker hasn’t served its workforce up a raw deal.
Qudos buyer’s €46m lawsuit against former owner pushed back
Qudos owner New Nordic Advisor’s legal action against Echelon Financial Holdings has been delayed due to the coronavirus pandemic.