week commencing 02/06/19:

As UK risk managers gathered in Harrogate this week, the world of insurance kept up a frantic round of deals, strategic changes of direction and rate rises. Hardly a surprise that corporate burn-out is a real risk, but more surprising that we have been suffering from it since Queen Victoria was on the throne.

Private equity and pension funds buy BMS

More systemic change in the London broking market as British Columbia Investment and Preservation Capital invest in BMS to create an alternative to the Big Three. . Insurance Day

Risk mangers outline concern over risk appetite

Julia Graham, Deputy CEO of AIRMIC, spotlights the inherent conflict between short term rate rises and a long-term need for collaboration. . Commercial Risk

Lloyd’s gets tough on culture survey

With a response rate of under 10%, Lloyd’s is mandating the circulation of its recent survey and extending the deadline. . Insurance Insider

Rates to rise in June renewals

According to analysts, Keefe, Bruyette & Woods, the June renewals will see average rate rises in the mid-teens, and even higher in retrocession where capacity remains constrained. . Artemis

Allianz invests nearly £1bn to become number two in UK GI

Acquisitive German insurer Allianz is buying two UK GI businesses – LV and Legal & General – in order to establish a market-leading position in the UK. . Financial Times

1,800 jobs to go at Aviva

The new chief executive at Aviva, Maurice Tulloch, is looking to reduce complexity and save £300m with the loss of 1,800 jobs from its workforce of around 30,000 people. . BBC

University accuses insurer of acting negligently

Despite the case of the disgruntled student being thrown out of court numerous times, Anglia Ruskin University says its insurer’s solicitors offered to settle Pok Wong’s claim and legal costs. . Post

Breakthrough hazard app launched by Australian insurance body

The Insurance Council of Australia has launched an app, MyHazards, to alert homes and businesses to the severe weather-related and natural disaster risks that could potentially affect them. . Asia Insurance Review

Boardroom burn-out not a new phenomenon

Stories of over-worked directors littered the FT in the 1890s when concerns swirled over the pace of technological change (aka the car and the telegraph) ‘over-taxing the body and the brain’. What can history teach us about dealing with stress? . Financial Times

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