Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and Gallagher lead the hunt for WTW’s European business

Howden and A J Gallagher are frontrunners for the Willis Towers Watson (WTW) business in Europe that it seems Aon will have to dispose of to gain the EC’s approval for a planned $30bn acquisition of the group, a senior industry source in Germany told Commercial Risk Europe. It is also thought that McGill and Partners, the London-based broker launched…

AXIS Capital to book cat losses of up to $115m in Q1

AXIS Capital to book cat losses of up to $115m in Q1

AXIS Capital to book cat losses of up to $115m in Q1

Bermuda’s AXIS Capital said catastrophes and other weather-related events will cost it an estimated pre-tax net loss of $105m to $115m in the first quarter of 2021. US winter storms Uri and Viola, mainly in Texas, will cost the group an estimated $80m to $90m during the period, AXIS said. AXIS did not give net loss/profit forecasts for the quarter,…

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon offers to sell WTW’s multinational P&C portfolio in four EU countries: Reuters sources

Aon has offered to sell Willis Towers Watson’s (WTW) entire large multinational P&C portfolio in Germany, France, Spain and the Netherlands, as well as Willis Re and the broker’s French unit Gras Savoye to gain approval from EC competition regulators, according to Reuters sources.

Over 12,000 UK policyholders await insurer decisions on Covid-19 BI claims

Over 12,000 UK policyholders await insurer decisions on Covid-19 BI claims

Over 12,000 UK policyholders await insurer decisions on Covid-19 BI claims

Insurers have settled and paid out on 10,772 UK business interruption (BI) Covid-19 claims in the UK related to the country’s Supreme Court ruling, but more than 12,000 policyholders have yet to receive a decision three months after it was found that the claims were valid, according to new data released by regulator the Financial Conduct Authority (FCA). A total…

Insurers and corporates join new body to tackle spike in UK property claims

Insurers and corporates join new body to tackle spike in UK property claims

Insurers and corporates join new body to tackle spike in UK property claims

A surge in property insurance claims and costs in the UK will be tackled by a new industry taskforce that will initially focus on flooding claims and property flood resilience. The cross-industry body, known as the Property Damage Task Force, will bring together insurers, brokers, loss adjusters, legal specialists and corporates to look at emerging issues in property claims. The…

AXA names new CEO of innovation unit AXA Next

AXA names new CEO of innovation unit AXA Next

AXA names new CEO of innovation unit AXA Next

AXA has appointed Jef Van In as CEO of AXA Next and group innovation officer, to replace Delphine Maisonneuve from 1 July. Mr Van In will move to the role from his current position as CEO of AXA Belgium and report to Antimo Perretta, CEO of AXA Europe. AXA Next houses eight units that have been brought together to drive…

Ferma concerned by lack of progress on European pandemic solution

Ferma concerned by lack of progress on European pandemic solution

Ferma concerned by lack of progress on European pandemic solution

The Federation of European Risk Management Associations (Ferma) is worried that efforts to establish pandemic pools appear to have lost momentum across Europe, and reiterated calls for a “risk-based” pan-European public-private partnership (PPP) for systemic business interruption (BI) risks. Ferma’s president has also called on the insurance industry to do more to help create a solution. Acknowledging the need to…

Generali committed to further M&A despite Covid-19: Donnet

Generali committed to further M&A despite Covid-19: Donnet

Generali committed to further M&A despite Covid-19: Donnet

Generali will continue its planned growth path under CEO Philippe Donnet’s Generali 2021 plan and has a further €2.3bn to spend on acquisitions, having already spent €1.8bn in recent times, analysts were told during the Italian insurance group’s recent annual results call. Mr Donnet’s further commitment to growth came on the back of a decent set of annual figures, to which…

IGI launches contingency line to take advantage of ‘market dislocation’

IGI launches contingency line to take advantage of ‘market dislocation’

IGI launches contingency line to take advantage of ‘market dislocation’

Specialty (re)insurer International General Insurance Holdings (IGI) is launching into contingency business and has appointed Richard Foster to lead the new operation, as well naming him head of property and political violence. The contingency line will primarily cover event cancellation, interruption or curtailment of events, non-appearance, and/or other contractual obligations. IGI said it is entering the contingency market to “take…

More awareness needed of bioterrorism risk: Carnegie-Brown

More awareness needed of bioterrorism risk: Carnegie-Brown

More awareness needed of bioterrorism risk: Carnegie-Brown

Lloyd’s chairman Bruce Carnegie-Brown has called for greater awareness among UK companies of the risk from bioterrorism. Increased public-private partnerships (PPPs) and ensuring more contingent capability must also be pursued if the UK’s corporate sector is to manage the growing threat of chemical, biological, radiological and nuclear (CBRN) attacks, said Mr Carnegie-Brown. The Lloyd’s chief made his remarks at a…

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