week commencing 14/02/21:

So, the virus news is good, holiday prospects remain mixed, the Royals are having a bit of a moment and business leaders continue to make the fatal error of saying what they think. But in the wonderful world of insurance, all we really care about is results. Just don’t hold your breath …

Results aren’t pretty

MS Amlin slashes, Brit falls, Zurich tumbles … and so it goes on in what’s been a pretty dire week for results. External-link. [Insurance Day] External-link. [Intelligent Insurer] External-link. [Insurance Times] External-link. [Insurance Day]

P&C looks good over 20 years

$466 billion has been generated by the world’s top 100 P&C insurers over the last 20 years with more than half of value-creating insurers delivering through investment income alone. External-link. [Reinsurance News]

RITC syndicate launch

Legacy carrier Compre has gained approval from Lloyd’s to establish a reinsurance-to-close (RITC) syndicate as it looks to take advantage of increased run-off activity. External-link. [Insurance Day]

Dupperreault transitions to Chair till 2022

AIG has announced Peter Zaffino will take over as CEO from Brian Duperreault who will serve as Executive Chairman of the Board until the end of this year. External-link. [Reinsurance News]

OPAL glistens

Trading on Aegis London’s online quote-and-bind platform Opal grew by 40% in 2020, aided by the move to remote working during the pandemic. External-link. [Insurance Insider]

LV pulls the plug

LV is turning its back on mutuality, stating “we simply can’t make it work any longer for our business model”. External-link. [Insurance Business]

Another bump in the Aon Willis road

Australia’s competition regulator has followed the EU in raising concerns over the Aon’s Willis Towers Watson proposed merger. External-link. [Reuters]

Cyber gets physical

Industrial sites, shipping facilities and critical infrastructure could be most at risk from insurance losses linked to physical damage from cyberattacks, according to a Lloyd’s report. External-link. [Law 360]

Bankers on board for Canopius listing

Goldman Sachs and Barclays are now lined up, paving the way for the prospective Canopius IPO which could take place ahead of the hurricane season this summer. External-link. [Insurance Insider]

If you can’t say anything nice……..

This week has seen the rapid exit of two business leaders who made the fatal error of saying exactly what they were thinking. It’s often tempting but rarely recommended. External-link. [The Mirror]

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