Willis Towers Watson has confirmed that Dominic Casserley, president and deputy CEO, will be stepping down from his role and leaving the company on December 31, 2016. Casserley joined Willis Group in January 2013 as CEO, a position he held for three years. As CEO, the total return to Willis shareholders was 58 percent. Since […]

  In the first nine months of 2016, SCOR continues to deliver high quality results in terms of earnings, profitability and cash flow generation. During the third quarter of 2016, both targets of the new strategic plan “Vision in Action” – profitability and solvency – have been achieved. Gross written premiums reach EUR 10,216 million at […]

Major British insurer Legal & General (L&G) is the top insurance firm in the world when it comes to creating value for shareholders, according to a new study by the Boston Consulting Group. The firm’s 2016 Value Creators Report examined the world’s 200 biggest companies by market valuation that were listed on stock exchanges from […]

Chubb Ltd. reported stronger-than-expected growth in operating earnings and premiums for the third quarter. The company was formed early this year when ACE Ltd. closed on its nearly $30 billion acquisition of Chubb Corp. and kept the Chubb name. The property and casualty insurer said pretax catastrophe losses reached $144 million in the latest quarter, […]

Aegon, Allianz, Munich Re, Swiss Re and Zurich have launched the blockchain Insurance Industry Initiative B3i, which aims to test the distributed ledger technology’s viability to executive digital contracts and transactions in a secure, transparent and auditable way. The blockchain technology can only reach its full potential for stakeholders if implemented in a consistent and […]

MetLife Inc., the largest U.S. life insurer, elected David Herzog, the former chief financial officer of American International Group Inc., to its board of directors. The addition brings the total number of directors to 13, with 12 being independent, the New York-based insurer said Friday in a statement. Hezog is also a director for Ambac […]

  U.K. Chancellor of the Exchequer Philip Hammond scrapped proposals made by his predecessor George Osborne to allow retirees to cash in their pension annuities. The proposals were aimed at extending new pension freedoms to people who have already retired and exchanged their savings for an annuity, a guaranteed lifetime income from an insurer. But in a […]

The Financial Conduct Authority and the Prudential Regulation Authority have given Phoenix permission to complete its £375 million acquisition of AXA Wealth and its Sun Life protection business. In an update to the market, closed book pension provider Phoenix said it now expected the deal to be completed on 1 November. Phoenix announced it would […]

One of the Treasury’s most experienced officials, has been unveiled as the new group chairman of Legal & General. Sir John Kingman will take up the position next Monday, 24 October. L&G said interim chairman Rudy Markham will remain on the board as a non-executive director until the group annual general meeting in 2017. He […]

DON’T TREAT FORMER EMPLOYEES LIKE TRAITORS – THEY COULD BE VALUABLE IN THE FUTURE. The phenomenon of boomerang employees – when bosses re-hire former staff – is becoming increasingly common with many businesses from Apple to Reddit and more recently Manchester United reaping the benefits. The growing skills shortage for niche finance and technical roles […]