Europe
Biba 2021: Key takeaways from John Glen's appearance
John Glen MP, Economic Secretary to the Treasury, tackled insurance premium tax, broker Financial Services Compensation Scheme levies, cladding, Brexit and more in his keynote address to the British Insurance Brokers’ Association’s 2021 conference…
Gallagher to pay $3.57bn for WTW assets including Willis Re
Aon and Willis Towers Watson have agreed to sell Willis Re and a portfolio of WTW assets to Gallagher for $3.57bn (£2.52bn) to help smooth their merger deal.
Direct Insurance restructures and rebrands as Aventum ahead of hitting acquisition trail
Direct Insurance Group has restructured, combining its UK and international teams into one group under the brand Aventum.
Admiral comparison site business sale to RVU completes
Admiral’s sale of Penguin Portals, which counts aggregator Confused amongst its offering, to RVU has completed after gaining regulatory approval.
Nuventure to launch personal and commercial lines MGAs within next month
Managing general agent platform Nuventure will launch two MGAs within the next month and aims to develop propositions for the UK terrorism, UK SME directors’ and officers’, and agriculture markets, CEO Andy Colbran has told Post.
Q&A: Bart Patrick, Duck Creek
Bart Partick, managing director for Europe at Duck Creek, tells Post about how old treacle-like tech systems are crippling the industry, the problems with updates and the need for insurers to adopt software-as-a-service. Along with assessing the rise of…
Axa teams up with Microsoft; Ardonagh unveils Beazley capacity deal; Lloyd's to open Manchester hub; LV rolls out ethical standard
Post wraps up the major insurance deals, launches, investments and strategic moves of the week not covered elsewhere on www.postonline.co.uk
European Commission pushes back deadline for Aon/WTW merger decision to July
The European Commission has pushed back the deadline for its decision on whether or not to approve the Aon’s acquisition of Willis Towers Watson, after the broker submitted new commitments.
Breitburd to succeed Rottiers as Lloyd's Europe CEO
Lloyd’s Europe CEO Sonja Rottiers will step down at the Lloyd’s Insurance Company general assembly on 1 June 2021, to be succeeded by Amélie Breitburd.
Intelligence: EU Trading - Doing business in Europe
With no post-Brexit equivalence or passporting regime available to UK brokers, they have had to explore other avenues to continue to trade across the European Union. David Worsfold explores the options open to intermediaries and the benefits they can…
Uber insurance boss joins insurtech as European head as it gears up for Series A raise
The former head of insurance for EMEA at Uber, Russell Corbould-Warren, has swapped the ride share giant for insurtech Collective citing the growth of on-demand employment platforms as a key factor for his move.
Ardonagh makes first US buy and launches Ardonagh Global Partners
Ardonagh Group has bought US healthcare and benefits underwriter Accurisk in a joint venture with insurance services company Amynta Group and has launched Ardonagh Global Partners.
Sompo International adds Maxine Goddard from Zurich
Maxine Goddard has joined Sompo International as senior vice president in its international insurance strategic distribution and development team after 20 years at Zurich most recently as director, senior commercial operations business partner.
Guy Carp takes Cook from Aon as MD and head of London Europe
Guy Carpenter has appointed Sebastian Cook as managing director and head of London Europe with immediate effect joining from Aon where he was head of EMEA London and deputy CEO, Nordic and Baltic Region.
Analysis: Deconstructing Aviva
With a new group CEO in role, Aviva has made serious strides in offloading its overseas operations. What inspired these moves and what does this mean for its core operations in the UK, Ireland and Canada?
Suez Canal: Insurance industry braces for claims as Ever Given partially refloated
Ahead of the crucial weekend efforts to move 400m long MV Ever Given and unblock the Suez Canal, insurance industry experts assessed the potential for claims.
SME only pandemic cover solution would help those most in need, says Swiss Re public sector boss
When facing the large losses pandemics threaten “we could do more” if a cover solution was limited to SMEs, Ivo Menzinger, Swiss Re managing director for public sector business across Europe, the Middle East and Africa, has said.
Policymakers 'fundamentally' mischaracterising pandemic insurance problem, OECD conference hears
Policymakers have mischaracterised the pandemic business interruption problem leading to a solution stalemate, virtual attendees of an Organisation for Economic Co-operation and Development event heard.
Covéa files complaint against Scor CEO Denis Kessler
Covéa has filed a complaint against Scor CEO Denis Kessler, in a move blasted by Scor as “deceitful and groundless”.
Pandemic business interruption risks uninsurable, says Scor's Kessler
Pandemic-related business interruption is “not insurable”, Scor CEO and chair Denis Kessler has said, likening the risk to that of property damage suffered during a war.
Lyles adds non-exec chair of Rising Edge to portfolio
Kelly Lyles has joined the board of London-based directors’ and officers’ managing general agent Rising Edge as non-executive chair.
Davies majority stake sold to BC Partners
International investment firm BC Partners has signed a definitive agreement to acquire a majority stake in Davies Group, for an undisclosed sum.
Antoine Gosset-Grainville to succeed Denis Duverne as Axa chairman
Antoine Gosset-Grainville will take over as Axa chairman when Denis Duverne retires in April 2022.
IPO inevitable for 'reluctant unicorn' Zego: CEO Sten Saar
Zego, now valued at $1.1bn (£792m), has become the UK's first insurtech 'unicorn' with an initial public offering "inevitable" but not on the immediate horizon, the insurtech's CEO and co-founder Sten Saar told Post.