Old Mutual Wealth has beefed up its boardroom with a triple appointment. Rosie Harris, who joins as chair of the board risk committee in April 2017, brings 30 years’ experience with her. She is retiring from her role as Aviva’s chief UK risk officer ahead of taking up her post with Old Mutual Wealth. Before Aviva she held […]

Clive Bolton, who heads up the savings and retirement division at Aviva UK, is to leave the firm after 25 years as part of a wider company restructure. The move follows recent changes at Aviva which is bringing all of its UK insurance businesses – life, general and health insurance – together under the guidance […]

More changes for Aviva UK team following combination of general, life and health insurance under Andy Briggs Aviva UK’s top team is undergoing a further reshuffle, which means more responsibility for UK general insurance (GI) chief executive Colm Holmes and a new role for UK GI personal lines managing director Lindsey Rix. The changes to […]

Insurance giant AIG reported a worse than expected quarterly loss of $3bn after having to ramp up reserves to cover possible claims against commercial policies it has already written. The group said it had set aside an additional $5.6bn in its fourth quarter trading statement, published overnight. AIG also revealed plans for a $3.5bn share […]

Workers at the historic city institution Lloyd’s of London have been banned from drinking during the day after around half of disciplinary cases were found to relate to alcohol. The ban prohibits the insurance market’s 800 employees from consuming alcohol between 9am and 5pm from Monday to Friday. Anyone who does not comply with the measure risks facing […]

Insurance CEOs are more concerned than leaders in any other industry about threats to their growth prospects, according to PwC’s annual global CEO Survey. PwC polled 95 insurance CEOs from 39 countries, who anticipate being hugely impacted by disruptive change and feel more threatened than leaders of sectors including entertainment and media, banking and healthcare. […]

Bermuda-based specialist global insurer Hiscox has appointed Louise Dennett to the newly-created role of director of finance change. Dennett will be based in Hiscox’s London office. In her new role, she will report to chief financial officer Aki Hussain with responsibility for delivering a group-wide finance change project designed to ensure the scalability, efficiency and […]

Prudential will stop offering annuities to existing pension customers entirely, eight months after it pulled out of the open annuity market, FTAdviser can reveal. A spokesperson for the life office said, while the exact timescale had not been determined, by the end of 2017 Prudential would no longer be writing new annuity policies. Prudential’s existing pension […]

Profits at Zurich soared as the Swiss insurer cut costs and operating profit at its general insurance segment rose by 182 per cent. The figures Full year net income attributable to shareholders rose 74 per cent to $3.2bn (£2.6bn). Fourth quarter income swung from a loss of $424m in 2015 to a gain of $685m. Business operating profits rose by 55 […]

 Aviva has sold its entire stake in life insurer Antarius to a Société Général subsidiary but will continue to manage a chunk of its assets. Aviva sold its 50 per cent shareholding in Antarius, a joint venture with separate Société Générale subsidiary Crédit du Nord, to Sogecap for approximately £425m. The consideration represents approximately 1.7 […]