week commencing 21/02/21:

Luther Towers is saying farewell this week to Charlie Evans, an integral part of our team for 13 years, but we are celebrating her new role at Beazley with postal cocktails – who knew they were a thing?!

$5-10 bn in losses from the Big Freeze

A blast from the Artic took the US by surprise, delivering unheard of snow in Nashville and creating freezing temperatures in Texas. Losses may take time to emerge because of the nature of the event. External-link. [Insurance Insider]

More red ink than black

Swiss Re’s results were “difficult reading” External-link. [Insurance Day] Liberty Mutual swung back into profit External-link. [The Insurer] SCOR’s profits plunge External-link. [Intelligent Insurer] Munich Re’s profits drop 55%. External-link. [Insurance Journal]

LMG seeks new CEO

Clare Lebecq will be stepping down from her role as CEO of the LMG to assume the position of Group Chief Operating Officer (COO) at Specialist Risk Group. External-link. [Reinsurance News]

2021 – a year of M&A

M&A activity in the insurance sector will surge in the first half of 2021, according to Clyde & Co. Activity grew in the second half of 2020 and the trend will continue into 2021. External-link. [Commercial Risk Europe]

Aviva slims down netting 3.2bn

The French business of Aviva was sold this week to Aéma Groupe as part of Aviva’s shrinking strategy. External-link. [Actuarial Post]

FCA boosts leadership with four new hires

Stephanie Cohen, COO, Jessica Rusu, chief data, information, and intelligence officer, Sarah Pritchard, executive director for markets and Emily Shepperd, executive director for authorisations, will be part of the FCA’s journey towards making fast and effective decisions backed by data. External-link. [Insurance Business]

Diluting Solvency II

The ABI has said that reducing insurers’ capital buffers will unleash £95bn to be more usefully deployed elsewhere. It would be the first departure from the Brussels rulebook since Brexit. External-link. [Financial Times]

Second culture survey shows only slow progress

While there was progress in some areas, others need work and improving the experience of Black and minority ethnic staff was a “top priority” for Lloyd’s which will set ethnicity targets in 2021. External-link. [Reuters]

UK data laws get EU approval

The EU has said that for the next four years, UK data laws are sufficient to support the continued flow of information between the UK and the European Union. External-link. [Law360]

Is the end really in sight?

With Boris Johnson laying out the route map for escape from lockdown, is it time to finally dare to dream about what international travel might look like post pandemic? External-link. [The Economist]

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