Aviva
Friends Life grants investment opportunities but selective GI exits considered
The Friends Life deal will “accelerate” Aviva’s turnaround and enhance its ability to deliver improved cashflow and growth according to CEO Mark Wilson.
Aviva records 6% increase in operating profit
Aviva posted a 6% increase in group operating profit to £2.17bn for the 2014 financial year, and an improved combined ratio, as CEO Mark Wilson warned the firm had “further to travel” with its turnaround plan.
Driverless cars: Driving change
Rapid advances in automotive technology mean that, within a generation, the future of autonomous vehicles and driverless cars could become a reality. What will that mean for the insurance industry?
Aviva Investors fined £17.6m by FCA
The Financial Conduct Authority has fined Aviva Investors £17.6m for systems and controls failings that meant it failed to manage conflicts of interest fairly.
Aviva downgraded by Berenberg as turnaround case questioned
Equities analyst Berenberg has downgraded Aviva from ‘buy’ to ‘sell’, saying evidence of a turnaround at the British composite insurer is “less compelling than the movement in the share price would suggest”.
Personal Injury: One rule for government, one rule for insurers
The introduction of the Criminal Injuries Compensation Authority tariff list in 2012 means that insurers are now paying out much more to personal injury claimants than the government
Insurers clamour for industry standard on premium comparison
There is a groundswell of support among insurers to establish an industry standard on premium comparison at renewal after Axa broke ranks to introduce such a scheme for personal lines customers.
Improved social media engagement a 'key priority' for insurers
Insurance companies have conceded more needs to be done to embrace social media as a tool to engage with consumers after a survey ranked the industry among the worst performing sectors in terms of online presence.
Insurers vow to learn from CMA report blow to combat credit repair inflation
The Competition and Markets Authority’s decision not to address the rising cost of credit hire has led to a “free for all” in credit repair cost inflation, according to insurers, who have vowed to unite to tackle the issue.
Reform needed to target industrial deafness claims, says Aviva
Aviva is calling for a significant shakeup into how industrial deafness claims are settled after reporting that 85% of such claims fail to demonstrate any link to workplace noise-induced hearing loss.
Aviva heralds 'fundamentally dishonest' crash for cash victory where fraud was not pleaded
Aviva has heralded a case that exposed phantom passengers and where the evidence led the judge to find the claim ‘fundamentally dishonest’, even though fraud was not specifically pleaded, as a clear warning to fraudsters.
Insurance industry failing to engage on social media as UK lags behind US
UK companies are being outperformed by their US counterparts in their use of social media for corporate communications, according to an Investis review, which ranked the insurance industry as one of the lowest performing sectors.
Insurers support mooted stress working party amid fears of claims surge
The creation of a working party to co-ordinate and develop management of workplace stress has been backed by insurers, following warnings the industry is in danger of “sleep-walking into an increasing flood of claims”.
Market Moves - 29 January 2015
All the latest job moves in the insurance market.
Man charged for attack on Aviva mobile phone system
A man who carried out an attack on Aviva's mobile phone system has been charged today (21 January) by the South East Regional Organised Crime Unit.
Aviva and Zurich pledge £1m funding for mesothelioma research
Insurance companies Aviva and Zurich will donate a combined £1m over two years to the British Lung Foundation’s research programme into the asbestos-related cancer mesothelioma.
In Series: Corporate risk: Upping the pace
How can commerical insurance industry innovation better keep up with the ever-increasing speed of technological advancement and changing demands from UK businesses?
Digital Distribution Strategies: Walking with dinosaurs?
The challenges insurers face as customers embrace the ‘omnichannel experience’ are enormous. How can they move from a disconnected multichannel approach to a genuinely integrated service before they face extinction?
Market Moves - 22 January 2015
All the latest job moves in the insurance market.
Aviva hands CRO role to SII head Woodford
Aviva Solvency II director Julian Woodford has been appointed UK and Ireland chief risk officer for the business.
1500 jobs at risk if Aviva's Friends Life acquisition is finalised
If shareholders agree to Aviva's acquisition of UK life insurer Friends Life then 1500 jobs are likely to be made redundant.
ABI reaffirms two-thirds of industrial deafness claims are rejected
The Association of British Insurers has backed analyst claims that the industry is repudiating roughly two-thirds of industrial deafness claims, despite some firms suggesting rates north of 80%.
Aviva names Morris as HNW commercial director
Aviva has promoted its personal lines head of retail underwriting and pricing to a newly created role as high net worth commercial director.
CMA draft order obligations criticised for duplicating existing regulation
Industry players are fearful draft Competition and Markets Authority motor insurance obligations conflict with existing conduct regulation amid concerns the watchdog is not giving firms enough time to implement its suggested reforms.