week commencing 12/08/18:

Why, in 2018, is a CEO still more likely to be called ‘Dave’ or ‘Steve’ than they are to be female? And paid almost twice as much? Recent research in our final story adds more fuel to the gender wage gap fire. For this and for our picks of the week’s industry news, read on.  

Alliant to face legal challenge from Willis
Alliant is set to face legal action from Willis Towers Watson in a dispute over the poaching of a construction team. Willis alleges its smaller rival was attempting to “steal millions of dollars of revenues”. External-link [Re-insurance]

ILS receives support from Lloyd’s managing agents
Insurance-linked securities could soon become a permanent part of the market after almost 80% of respondents expressed their support. External-link [Insurance Day]

Esure confirms sale speculation
Personal lines insurer Esure Group has confirmed that its sale to Blue Bidco has been agreed for £1.2 billion. Esure chair Sir Peter Wood called the deal “a great outcome”. External-link [Insurance Business]

Climate change to shake up insurance
The International Association of Insurance Supervisors (IAIS) has released findings showing the ways in which climate change presents both opportunity and risk for insurers. The research also outlined its potential to significantly affect the reinsurance coverage gap. External-link [Insurance Insider]

How bad will this year’s hurricane season be?
Following last year’s lethal hurricane season which saw several huge storms tear through the US and Central America, the National Oceanic and Atmospheric Administration is predicting a total of 9-13 named storms before 30th November. Some 4-7 of these could become hurricanes. External-link [Insurance Business Magazine]

Lloyd’s syndicates under scrutiny over PPL performance
The 10% usage target has already been met and exceeded by Lloyd’s and company market but those syndicates that are lagging in adoption can expect to be named and shamed. External-link [Insurance Insider]

Alternative capital hits $95 billion
The amount of alternative capital in the industry has risen once again to $95 billion, equivalent to 16% of the reinsurance market. External-link [Artemis]

Heatwave gives rise to fire claims
BBQ fires and overworked air conditioning units have pushed the number of fire claims to one of the highest levels seen in recent years according to Crawford and Company. External-link [Insurance Post]

Female FTSE CEOs earn up to 110% less than male counterparts
Even at the very top of the ladder and with the dust of shattered glass ceilings below them, female CEOs at FTSE 100 companies are earning significantly less than their male equals; up to 110% less to be exact. The report by the CIPD and High Pay Centre also found that CEOs were more likely to be called ‘Dave’ than to be female. External-link [Investment Week]


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