Zurich Insurance Group AG plans to cut 440 jobs at its U.K. general insurance unit as part of a cost- cutting program. Zurich is also seeking to simplify its organizational structure, the company said in a statement to Bloomberg News …
Jardine Lloyd Thompson Group Plc lowered its expectations for 2015 profit after government pension changes hurt the insurance broker’s U.K. employee benefits business and the stronger pound cut income from overseas. Shares fell to the lowest since March 5. JLT …
Direct Line Insurance Group Plc, the UK’s largest car insurer, said pricing for its motor business increased in the last two quarters because of higher claims. Rates for car cover rose 8.4 percent in the three months through September, the …
Aegon NV, the Dutch owner of U.S. insurer Transamerica Corp., has been added to a list of insurers deemed systemically important by global financial rule makers, while Italy’s Assicurazioni Generali SpA was removed. The updated list of nine too-big-to-fail insurers …
Aviva Plc Chief Executive Officer Mark Wilson said a 25 percent jump in new business in the first nine months of the year should allay concerns that his 5.6 billion- pound ($8.6 billion) acquisition of Friends Life Group Ltd. was …
The world’s largest reinsurers are anticipating even bigger price declines when policies are renewed in 2016 than envisaged a month ago as a flurry of takeovers in the industry fails to absorb some of the excess capital. Reinsurers and brokers …
Aviva Plc’s Chief Executive Officer Mark Wilson said the British insurer is looking for smaller acquisitions outside its home market as it continues to integrate Friend’s Life Group Ltd., the country’s largest insurance transaction in at least 15 years. “We’ll …
Stakeholders who own millions of shares in Towers Watson & Co. are planning to vote against the firm’s $8.7 billion merger with Willis Group Holdings Plc if the terms of the transactions are not improved, people with knowledge of the …
The waiting list for an insurer to get a spot on the underwriting floor of Lloyd’s of London is the longest in its 327-year history, indicating record demand for access to the market. Lloyd’s has requests for about 160 so-called …
Global insurers with the greatest ties to the financial system would face an average increase of 10 percent to capital requirements under new standards proposed by a group of regulators. The increase would be as high as 18.75 percent for …
