week commencing 22/11/20:

This week we heard there would be tiers before Christmas. But with vaccines now like London buses – nothing for ages then three at once – we’re looking forward to bubbling with the bubbly and have been re-scanning the media for your delectation and delight.

Who’s on the Rich List?

Just in case you want to know who to ask for a pay rise, here are the top 10 wealthiest insurance tycoons, according to the 2020 Sunday Times Rich List. External-link. [Insurance Business]

SCOR does the splits

Denis Kessler announced this week that, after his departure, the roles of CEO and Chair will separate. He denied this was due to regulatory pressure, despite the French watchdog advocating the split in July. External-link. [Insurance Insider]

Marine market navigates changing market conditions

After years of competitive pricing and rising losses, there are signs that marine and cargo rates are on the turn, responding to increasing claims costs and economic slowdown. External-link. [Insurance Day]

$800m raised for new Lloyd’s syndicate

Inigo, led by ex-Hiscox CUO Richard Watson, has completed its capital raise and will now proceed with its plans to open for business on January 1, 2021, taking over underwriting assets from Starstone. External-link. [Insurance Insider]

Aviva says arrivederci to Italy and dividends

A busy week for Amanda Blanc as she sold one of Aviva’s Italian assets to focus its activities on the UK, Ireland and Canada and then announced that is dividend would fall by almost a third as a result of the pandemic. External-link. [Financial Times]

950% rise in cyber insurance claims

Allianz announced this week that external attacks on companies account for the most expensive cyber insurance losses, but it is employee mistakes and technical problems that generate most claims by number. External-link. [Law 360]

Canopius shelves $1bn legacy deal

Having explored a legacy deal in the early days of the pandemic, this appears to have been shelved after a $400m capital raise by the group. External-link. [S&P Global]

IAG puts a price of A$865m on BI claims from COVID

Insurance Australia Group is looking to raise A$750m ($548m) to prepare for the deluge of claims it could potentially receive after the New South Wales Court of Appeal ruled against insurers in a BI test case. External-link. [Asia Insurance News]

High Court approves Lloyd’s Part VII transfer

Final approval has been received to transfer European Economic Area (EEA) policies to Lloyd’s Insurance Company SA (Lloyd’s Europe) in Belgium. The transfer is effective on December 30. External-link. [Insurance Business UK]

Howden acquires cyber specialist

Safeonline, a cyber and tech specialist broker and Lloyd’s coverholder, has been acquired by Howden, giving it an enhanced retail cyber platform as well as boosting its presence in the US wholesale sector. External-link[Insurance Journal]

Everything you wanted to know about vaccines but were afraid to ask

Ten months to achieve results that normally takes a decade. How the Oxford went from zero to hero. External-link[BBC]

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