April 22, 2015
Global insurers who oversee more than $6 trillion in assets plan to invest capital in commercial mortgage loans and private equity this year to generate higher returns, a Goldman Sachs Asset Management survey showed. Thirty-five percent of insurance executives said …
April 15, 2015
Fairfax Financial Holdings Ltd. will sell as much as 30 percent of Brit plc to the Ontario Municipal Employees Retirement System two months after agreeing to buy the Lloyd’s of London insurer for $1.88 billion. Fairfax said Wednesday it reached …
April 15, 2015
Old Mutual plc’s Julian Roberts is stepping down as chief executive officer of Africa’s biggest insurer and will be replaced by Standard Bank Group Ltd.’s Bruce Hemphill. Roberts, 57, is resigning after almost seven years leading the London-based company, and …
April 13, 2015
Aviva plc’s Chief Executive Officer Mark Wilson and the chief financial officer lowered their long-term bonuses after Institutional Shareholder Services Inc. was said to have raised concerns over 2015 compensation. Wilson’s long-term incentive plan (LTIP ) reverted back to 2014 …
April 9, 2015
Hastings Insurance Group increased its customer base by 20 percent in 2014, boosting profitability and setting the U.K. car insurer on track for a potential initial public offering this year. Hastings, which generates 90 percent of its business from price-comparison …
March 13, 2015
Executives at RSA Insurance Group plc’s Irish unit wept as they recalled how their former boss, Philip Smith, pressured them, an employment hearing heard. “Men were weeping into their hands, crying,” Derek Walsh, RSA’s group counsel, said at an Employment …
March 5, 2015
Aviva plc, in the midst of buying Friends Life Group Ltd. for $8.6 billion, increased its shareholder payout for 2014 by 30 percent as the insurer reported higher profit. The final dividend was lifted to 12.25 pence per share, taking …
March 3, 2015
Direct Line Insurance Group plc reported 2014 pretax profit that missed analyst estimates as the British home and car insurer wrote less premiums. Pretax profit for continuing operations rose 12 percent to 456.8 million pounds ($702.8 million) in the year …
March 2, 2015
Lloyd’s of London insurers Amlin plc and Hiscox Ltd. both said they have enough scale to stay independent and see no need to find a buyer amid a flurry of deals in the industry. Both insurers reported lower full-year pretax …
February 26, 2015
RSA Insurance Group plc reported its first full-year profit since Stephen Hester took charge, restoring dividends after a string of asset sales and cost-cutting measures. Pretax profit was 275 million pounds [$425.9 million], compared with a loss of 244 million …