Company news
Q&A: Louise O'Shea, Confused
Louise O'Shea, CEO of Confused, spoke to Post about the comparison site's recent profits, its growth ambitions and what the FCA's pricing proposals will mean for consumers.
Union GMB calls for government intervention in AA deal
Trade union GMB called on the government to protect the AA from being “asset stripped” as the motoring group accepted a take-over offer from private equity firms.
Lloyd's Brexit transfer of EEA business approved by High Court
Lloyd’s has received final approval from the High Court to transfer policies covering risks and policyholders in the European Economic Area to its Belgian subsidiary, Lloyd’s Europe.
Esure adds former Sky betting and gaming CTO to top team
Esure Group has recruited Andy Burton as chief technology officer and appointed Justin Cockerill as chief commercial officer.
Go Compare parent share price jumps 18% as group agrees Future sale terms
Shares at Goco, parent company of Go Compare, were almost 18% up this morning as the company agreed terms of an acquisition offer from British publisher Future, in a deal valuing the group at £594m.
AA accepts take-over offer from private equity firms
Motoring group the AA has confirmed it reached an agreement on the terms of recommended cash acquisition under which Towerbrook Capital Partners and Warburg Pincus International will acquire the business.
PWC pulls Slater & Gordon into £63m Watchstone case
PWC has filed a claim against Slater & Gordon as it brought out its defence in the legal dispute with Watchstone, which is seeking £63m in damages from the accountants for alleged breaches of contract, confidence and fiduciary duty as well as conspiracy.
Hester poised for £17.7m and Egan £6.7m from RSA sale
RSA group CEO Stephen Hester could pocket £17.74m from the sale of the insurer with UK and international CEO Scott Egan in line for a £6.67m pay out, according to analysis of the latest documents published by the provider as part of the proposed takeover…
Lloyd's Brexit transfer decision expected next week after objection-free hearing
Lloyd’s is set to learn whether or not the High Court will approve a Brexit-necessitated transfer of European policies to its Belgian subsidiary next week, following the conclusion of a two-day sanctions hearing on Thursday.
Analysis: Who are RSA buyers Intact and Tryg?
RSA's would-be co-owners Intact and Tryg intend to split the insurer once a deal closes. Post investigates what the parties' track records could mean for its future.
Miller to expand employee ownership after sale
The existing partners of Miller will be reinvesting into the business to keep a “substantial minority ownership” and targeting broader employee ownership as part of the deal that sees the firm switch hands from Willis Towers Watson to Cinven and GIC.
Sompo's Lloyd’s exit about us, not them: international insurance CEO Julian James
Sompo’s decision, announced in April, to walk away from Lloyd’s at the end of this year was driven by the insurer’s ambitions rather than reservations about the Lloyd’s market itself, Sompo international insurance CEO Julian James has said.
Coverys Lloyd's syndicate to stop accepting business and renewals from next year
Coverys-backed Lloyd’s Syndicate DTW 1991 is to stop accepting new and renewal business from 31 December 2020.
No losers as Cinven and GIC buy Miller from WTW, say brokers
Brokers have hailed private equity house Cinven and Singaporean sovereign wealth fund GIC buying Miller from Willis Towers Watson as a deal with no losers.
RSA in £7.2bn sale talks
RSA has confirmed it is in takeover talks with Canadian insurer Intact Financial Corporation and Danish provider Tryg about a £7.2bn deal that would split up the business.
Hyperion rebrands as Howden Group Holdings
Hyperion Insurance Group has changed its name to Howden Group Holdings and will rename businesses that bear the Hyperion name with immediate effect.
Top 30 Asia-Pacific Insurers: Bracing for uncertainty
Although non-life insurers in Asia performed modestly in 2019, the past nine months has been bumpy for the industry. Christie Lee, senior director of analytics for Asia-Pacific at AM Best, discusses the region’s performance over the past year
CHO chair Kirsty McKno to bow out
Credit Hire Organisation chair Kirsty McKno will step down in November, with a strategic board set to take over.
Minster Law posts £1.1m profit as it launches digital claims portal
Minster Law has reported a £1.1m profit for 2019 as it launches a digital claims portal to 75% of its customers.
Mactavish appoints former Aston Scott CEO Heidi Carslaw as MD
Mactavish has appointed Heidi Carslaw, formerly CEO of broker Aston Scott, as managing director.
Peter Zaffino to succeed Brian Duperreault as AIG CEO
Peter Zaffino, AIG president and global chief operating officer, will succeed Brian Duperrault as AIG CEO in March 2021.
Aviva censured over ‘serious but not intentional’ preference shares breach
The Financial Conduct Authority has publicly censured Aviva for a 2018 announcement that the regulator found “had the potential to mislead the market”.
Bought by Many confirms name change outside of the UK
Pet insurance provider Bought by Many will be changing its branding to Many Pets in markets outside of the UK, chief financial officer Luisa Barile told Post.
RSA opts against appeal on Marsh wording in BI test case
RSA’s appeal of the High Court business interruption test case ruling only covers two policies, court documents have revealed, and does not include the Marsh/Jelf resilience (RSA4) wording shared by multiple insurers.