Advent Claims, a division of Advent Insurance Management with claims operations in the US, UK, Canada and Australia, has launched a proprietary web-based claims management system for managing general agents (MGAs) and coverholders, called “Advantage.” Designed to capture all information …
Rather than replacing Solvency II entirely when the UK leaves the European Union, regulators need to refine EU’s insurance regulation to make it more appropriate for the UK market and customers, according to the Association of British Insurers (ABI). Following …
The European Union needs a common pension product because existing long-term savings offerings are too complex and costly, the region’s industry regulator said. “There are too many products and people don’t really understand them,” Gabriel Bernardino, chairman of EIOPA, the …
Dutch insurer Delta Lloyd NV rejected NN Group NV’s unsolicited 2.4 billion-euro ($2.7 billion) cash offer, saying the financial terms aren’t acceptable and don’t reflect the benefits of consolidation. “NN’s offer substantially undervalues our company,” Delta Lloyd CEO Hans van …
NN Group NV, the largest Dutch insurer by market capitalization, has launched an unsolicited offer to buy smaller rival Delta Lloyd NV for 2.4 billion euros ($2.7 billion) in cash. NN Group said on Wednesday it was offering to pay …
Aegon NV is seeking a new chief financial officer to replace Darryl Button, who is leaving the insurer after three years in the post. A thorough process is underway to select a successor, Aegon said in a statement on Tuesday. …
Gjensidige Forsikring ASA is on track to become the first insurer to issue a new type of bond that will become the industry’s riskiest debt. The Norwegian company may sell as much as 1 billion kroner ($120 million) of so-called …
Specialist Lloyd’s insurer Neon has appointed Olly Reeves to the role of chief risk officer. He will join Neon on Nov. 1, 2016 from his current role as head of Risk Management at Lloyd’s of London. Subject to regulatory approval, …
Companies originally created the role of the chief risk officer because they “recognized that good risk management is really good business,” according to Michael Steel, former CRO at AXIS Capital. The role of CRO is a relatively new one for …
Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in London trading. Aviva, the U.K.’s second-largest insurer, posted a 13 percent …
