A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …
Global, diversified insurers are best positioned to withstand the industry’s top economic and competitive challenges, according to a report published by Standard & Poor’s Global Ratings. Geographic and product diversification help global multiline insurers (GMIs) cope with challenges such as …
A wildfire in the Alberta city of Fort McMurray is set to become the costliest ever Canadian natural disaster for insurers, with 1,600 buildings destroyed and another 19,000 under threat, analysts and industry sources say. The bill for insurers is …
British insurer Aviva chief executive Mark Wilson’s take-home pay more than doubled to 5.67 million pounds ($8.1 million) last year, after the purchase of rival Friends Life, Aviva’s annual report showed on Tuesday. Aviva completed the 5.6 billion pound acquisition …
Aviva detected fraud in almost 2,200 commercial motor policies in 2015, using various anti-fraud tools, the London-based insurer revealed. But the company is taking its fight against fraud to a new level — by screening all commercial motor policies at …
Aviva Plc, the U.K.’s second-biggest insurer by market value, agreed to buy a home and auto insurer from Royal Bank of Canada for C$582 million ($402 million) to expand in North America. The purchase will increase Aviva’s policy sales in …
Aviva Canada aims to offer ride-sharing insurance to Ontario drivers who use their own vehicles to carry paying passengers starting next month, a service that could solve a major headache for ride-hailing company Uber Technologies Inc. The Canadian subsidiary of …
Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an …
Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …
Prudential Plc, Aviva Plc and Legal & General Group Plc are among large U.K. insurers to win Bank of England approval of the models they use to calculate capital requirements under the European Union law known as Solvency II. The …
