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. Button will return to the U.S. and pursue opportunities outside the company. The Hague-based insurer, […]
Chief of Japanese insurer says Brexit will not lose appetite to invest in London
The head of one of Japan’s biggest insurers said the Brexit vote had not dulled his company’s appetite to invest in London as the city’s attractions stretch beyond the business it does with the EU. “London has so many strengths in terms of licences, information and underwriting expertise,” Kengo Sakurada, chief executive of Sompo, told the Financial […]
Interview: Lloyd’s of London boss John Nelson
The UK’s position at the centre of the global insurance market is under threat after the famous Lloyd’s of London market said it may be forced to move some of its business to continental Europe as a result of the Brexit vote, chairman John Nelson has warned. He said operations may start leaving London before […]
Lloyd’s of London boss John Nelson threatens to quit the City after Brexit vote
London’s status as a global insurance leader is at risk in the wake of the Brexit vote, according to Lloyd’s of London boss John Nelson. Nelson, chairman of the specialist insurance market, told the BBC’s Today programme this morning that the company will quit the City if it is not given guarantees about its access […]
“What does the future hold for insurance and reinsurance?” Swiss Re’s new CEO Reinsurance, Moses Ojeisekhoba, shares his views
Insurance and reinsurance are essential to society and to financial stability. Yet for some reason we have a hard time selling our products. What gives? Sure, the current market environment is challenging. Interest rates are low and there’s been a surge of new capital adding to the pressure on rates. But this cannot be our […]
AIG sells final PICC P&C stake for $190mn
American International Group (AIG.N) (AIG) is seeking to raise about $190 million by selling its remaining shares in China’s PICC Property and Casualty Co Ltd (2328.HK), according to a term sheet of the deal seen by IFR on Saturday. AIG is offering 111 million shares at a floor price of HK$13.39 each, representing 0.5 percent […]
Standard Life are hiring for a Brexit guide to add to its public affairs knowledge
Those with a head for Brexit-related red tape might want to dust off their CVs, as insurance and pensions company Standard Life is looking out for somebody to help guide it through the referendum fallout. The new hire will report to Graeme McEwan, chief communications officer, and will help advise the FTSE 100 firm on policy issues stemming from […]
MetLife joins more than 50 other financial firms at the blockchain consortium R3
The blockchain consortium R3 has signed up yet another new member, this time the major US insurance firm MetLife. The addition brings the number of members to more than 60 and it joins the likes of the biggest banks such as Barclays, HSBC and Goldman Sachs. The insurer will work with the other financial services firms to explore how […]
Aviva said to hire JPMorgan’s Chetan Singh to head global M&A
Aviva Plc hired Chetan Singh, a managing director at JPMorgan Chase & Co., to head its mergers and acquisitions globally, a person with knowledge of the matter said. Singh, who led dealmaking for financial institutions in Southeast Asia at JPMorgan, will relocate to London from Singapore, according to the person, who asked not to be […]
Allianz life insurance chief confident they can weather long-lasting low interest rates
Europe’s biggest insurer Allianz has positioned its business to weather rock-bottom interest rates that could last a “very long time”, the head of the German group’s life insurance division told German media. While returns on life products offered a 4 percent guaranteed interest rate 15 years ago, ultra-low central bank rates have put pressure on the […]