- February 28, 2020
- Posted by: lutherpendragon
- Category: Insurance news
week commencing 23/02/20:
This week at Luther Towers it’s all hand sanitiser and suspicious glances if anyone coughs. But before we all get sent home, we have pulled together an almost virus-free round up of the week’s news.
Tiger by the tail?
Research broker TigerRisk is looking to sell off part of its business in either a majority or minority sale. CEO Rod Fox said the ‘partial liquidity event’ will see him commit his long-term future to the business. . [Insurance Insider]
Hancock moves to AIG
Lloyd’s outgoing Performance Director, Jon Hancock, will join the US insurer this spring to lead its international GI business. . [Insurance Insider]
Earnings for XL unit disappoint
AXA’s decision to acquire rival insurer XL Group has been called into question following an unexpectedly poor set of financial results. . [Reuters]
Going green with ILS
Generali, the European insurance group, has published a new ‘green’ framework for insurance-linked securities (ILS) designed to support its environmentally-friendly underwriting and investment strategy. . [The Insurer]
Warren Buffet invokes Old Testament
Analysts have been disappointed by Berkshire Hathaway’s newly-released 2019 financial results, despite Warren Buffet invoking religious adherence to underwriting discipline. . [Insurance Journal]
ABI demands rule changes
With Brexit providing the opportunity to move away from European rules and regulation, insurers and pension providers are calling on the government to seize the initiative. . [Financial Times]
Oliver Wyman reports calls for fast response
Climate change and its effects on government policy could cost the global financial services sector up to $1 trillion, a new report suggests. . [Reuters]
Natixis to sell stake in Coface
Arch Capital Group has bought a 29.5% stake in the French trade credit insurer Coface. A spokesperson said the acquisition was part of Arch’s plan to grow ‘uncorrelated sources of underwriting income’. . [NASDAQ]
Third Point pushes for break up
Plans by an activist hedge fund to break life insurer Prudential into two entities could see the company lose its London listing and FTSE 100 status. . [The Times]
Fires out but prices remain hot
This year’s Australian bush fires have led to the creation of ‘insurance red zones’ in the country leading to rising costs for both individuals and whole communities. . [Insurance Business]
Can coronavirus help establish the etiquette of remote working?
Is it acceptable to have your laundry on display on a video call? The possibility of millions working from home means it is time to address the important questions of etiquette. . [Financial Times]
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