Aviva News

Insurers Weigh Premium Hikes for UK’s Tall Buildings After Grenfell Tower Fire

Insurers are considering raising premiums for tall buildings in Britain with flammable cladding panels and no sprinklers or even excluding related risks following the Grenfell fire in London earlier this year. Inquiries into the tragedy, which killed up to 80 …

Growing List of Re/Insurers Make Decisions on Post-Brexit EU Headquarters

Everest Re Group Ltd. has said its Dublin-based unit has received approval from the Central Bank of Ireland to become a non-life insurer, joining a growing list of insurers setting up regulated EU operations in case Britain does not have …

UK’s Aviva Reports 11% Rise in H1 Operating Profit to $1.94 Billion

British insurer Aviva reported an 11 percent rise in first-half operating profits to 1.47 billion pounds ($1.94 billion) on Thursday, boosted by its general insurance and fund management units and sending its share price higher. Analysts in a company-supplied poll …

New Terror, Cyber Threats Create Coverage Gaps: CEO of UK’s Pool Re

Insurance against terror attacks must adapt to face up to the threats posed by so-called lone-wolf militants and the rise of cyber crime. That’s the view of Julian Enoizi of Pool Reinsurance Co., the U.K. government-linked body that backstops insurers …

UK’s Aviva to Sell Asia/Middle East Life Unit to Focus on Core Markets

Aviva, Britain’s biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International Financial Group for 340 million pounds ($443 million). The …

G20 Task Force Develops Climate-Related Financial Disclosure Framework Supported by Insurers

A global task force set up by the G20 has developed a voluntary framework for companies to disclose the financial impact of climate-related risks and opportunities, drawing support from more than 100 companies with $11 trillion of assets. There are …

UK’s Aviva Selling $1.3B in Tobacco Company Holdings

Aviva, Britain’s biggest life insurer, is selling about 1 billion pounds ($1.3 billion) worth of bonds and shares it holds in tobacco companies, joining a global campaign to divest from the industry. The move by insurance companies to sell holdings …

British Insurer Aviva to Launch Small Business Cyber Product

British insurer Aviva plans to launch a new product to cover small and medium-sized businesses against cyber attacks later this year as part of an expansion of its specialist insurance division, its chief executive for UK insurance said. Aviva, which …

Munich Re, Aviva Ventures Invest in UK Connected Home Insurer Neos

Neos, a UK connected home insurer, announced last week it has secured a £5 million (roughly $6.4 million) series A investment led by Aviva Ventures together with strategic partner Munich Re. The strategic investment accelerates Neos’ growth as the UK’s …

Zurich Insurance Deploys Robots for Personal Injury Claims Handling

Zurich Insurance is deploying artificial intelligence in deciding personal injury claims after trials cut the processing time from an hour to just seconds, its chairman said. “We recently introduced AI claims handling … and saved 40,000 work hours, while speeding …