Articles by Benjamin Robertson

Update: Allianz to Purchase Aviva Poland for $2.9 Billion, Winning Bidding War

Allianz SE, Europe’s largest insurer, is to purchase the Polish operations of Aviva Plc for 2.5 billion euros ($2.9 billion). The deal values London-based Aviva’s Polish business at 2.7 billion euros, according to a statement from Aviva Friday. It’s subject …

Insurer Aviva Seeks New London Headquarters to Cut Post-Pandemic Office Footprint

Aviva Plc is searching for a new City of London headquarters as the UK insurer prepares to slash its office footprint. The firm started looking for new offices in the financial district early last year, but shelved its plans once …

Aviva Sells Italian Businesses to Allianz and CNP in 2 Deals Totaling $1.1 Billion

Aviva Plc has exited its Italian businesses in a pair of deals totaling 873 million euros ($1.1 billion) as the UK insurer continues to pivot to its core markets. CNP Assurances and Allianz SE bought the London-based firm’s Italian life …

UK’s Aviva to Sell French Business for $3.9 Billion, Continuing Core-Market Strategy

Aviva Plc agreed to sell its French business for 3.2 billion euros ($3.9 billion), the largest deal so far in Chief Executive Officer Amanda Blanc’s push to streamline the UK insurer. The unit was sold to French mutual insurer Aema …

How to Address the Next Uninsurable Pandemic — A Black Swan Event

There aren’t many contexts where $2 trillion seems like a paltry sum. Then a pandemic comes along. The economic fallout from COVID-19 has left insurers issuing existential warnings and businesses discovering they weren’t covered. It’s resulted in courts packed with …

Aviva in Talks to Sell Units in France, Poland and Italy, CEO Confirms

Aviva Plc Chief Executive Officer Amanda Blanc confirmed the company was in talks to sell units in France, Poland and Italy as part of her overhaul of the insurance giant. The company is still in the “early stages for considering …

UK Insurer Aviva Sells Stake in Italian Life Unit for $475 Million

Aviva Plc is selling its stake in its Italian life insurance joint venture for about 400 million euros ($475 million) as Chief Executive Officer Amanda Blanc continues her revamp of the firm. The insurer will sell its 80% holding in …

Bank of England Warns Private Insurers Need Government to Help Narrow Protection Gap

The Bank of England has encouraged the government to work with UK insurers in preparation for future major shocks, rather than leave swathes of the economy exposed to catastrophic losses. The danger of a “protection gap” is emerging as firms …

Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday

Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is set to rule Tuesday in a case involving about 370,000 policyholders, companies including Zurich Insurance Group AG and Hiscox Ltd. …

Insurer AXA, With H1 Net Income Down 40%, Warns of Future COVID-19 Shocks

AXA SA’s profit sank in the first half as it booked a 1.5 billion-euro ($1.8 billion) charge for claims related to COVID-19 and warned of further shocks from the pandemic. The French insurer saw net income fall 39% from the …