week commencing 11/02/18:

Pancakes and floral arches in Leadenhall Market were the lighter side of a week when PR people pondered how they might have dealt with Oxfam’s travails.For our round up of the news from our industry, read on.

Axis CEO may exit further classes amid profitability doubts

Despite ongoing work to improve performance, Albert Benchimol says not all classes are delivering on RoE targets. External-link [Insurance Day]

CNA operating income improves in fourth quarter
CNA has beaten the general consensus on improved underwriting income and reported an increase in its operating income per share as it rose to £1.05 in the fourth quarter of 2017. External-link  [Insurance Day]

Future of Bermuda market under scrutiny
In the wake of the Validus sale, Aspen profits warning and XL takeover rumours in the last three weeks, all eyes are currently on the Bermudian market and its reaction. External-link [Insurance Insider]

British insurers scramble to meet Part VII transfer deadline

The complicated business of transferring business into EU subsidiaries before Brexit bites is taking place under fierce time pressure, and reports are emerging from regulators that they are struggling to manage the mammoth task. External-link [Insurance Day]

Equality in the City

Conservative MP Nicky Morgan has written to more than 30 finance firms and piled on pressure to sign up to the government-backed Women in Finance Charter amid concerns that several high-profile companies do not feature amongst the signatories. External-link [The Telegraph]

Alleged racial discrimination leads to City watchdog probe

Insurers are facing a new probe after accusations arise that they are racially discriminating by hiking premium costs for customers with common ethnic minority names. External-link [This is Money]

Indian triple-merger on the cards for 2019

The merging of three Indian state-owned non-life insurers (National Insurance, United India Insurance and Oriental Insurance) is expected to be finalised in 2019. External-link [Asian Insurance Review]

Dyson does cars

The pioneer CEO has put his money where his mouth is and thrown his considerable might behind the electric car industry with a £2 billion investment in a project dedicated to developing and building three new cars from scratch. External-link [Financial Times]


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