Articles by Carolyn Cohn and Simon Jessop

Amazon Weighs Formation of UK Insurance Comparison Website: Reuters

Amazon.com Inc is sounding out some of Europe’s top insurance firms to see if they would contribute products to a UK price comparison website in what would be a major foray by the U.S. online retail giant into the region’s …

Insurer RSA Reports 15% Drop in H1 Operating Profit on Winter Weather Claims

Icy roads and frozen pipes due to bad weather in Canada and Britain hit insurer RSA’s first-half operating profit on Thursday, though results were in line with analyst forecasts. General insurer RSA, best known in Britain for its More Than …

Lloyd’s Conducts Business Review in Wake of 2017’s $2.6 Billion Loss: Sources

Lloyd’s of London is reviewing all aspects of its business, including its centuries-old structure, to ensure it is cost-competitive and responsive to both clients and members, especially after Britain leaves the EU, industry sources said. The review, coming after a …

U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance

New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …

UK Banks, Insurers Support Global Standards for Regulation After Brexit: Watchdog

Britain’s banks and insurers want to stick to global standards on financial regulation after Brexit and are not calling for a “race to the bottom” to win business from European rivals, the head of Britain’s financial watchdog said on Wednesday. …

UK Regulator Warns Insurers, Banks About Responsible Use of Customers’ Big Data

Britain’s banks and insurers must take the lead in spelling out how they will use data collected from customers or they could face new rules, Financial Conduct Authority Chair Charles Randell said on Wednesday. Financial firms have been using Big …

Russia World Cup Insurance Premiums Rise on Risks of Terrorism, Hooliganism

The risk of terror attacks and damage from hooligans has pushed up premiums for businesses and players buying insurance for the soccer World Cup in Russia compared to the previous event in Brazil, brokers and insurers say. The insured value …

Europe’s New Data Privacy Law Boosts Cyber Insurance Sales

Data privacy rules coming into force this week are giving Europe’s fledgling cyber insurance market a boost as they make companies more aware of the risks caused by customer information breaches. Europe’s General Data Protection Regulation (GDPR), which takes effect …

Global Insurers Reassessing Iran Business In Light of Sanctions Threat

Global insurers are taking stock of how the U.S. withdrawal from an international agreement to deny Tehran nuclear weapons, and threatened sanctions against companies that do business with Iran, could affect them. Insurance broker Arthur J. Gallagher & Co. said …

Zurich Insurance CFO: ‘We Don’t Exist to Do M&A’

Zurich Insurance has no plans for a big merger, it said on Wednesday, despite speculation of a pick-up in dealmaking in the industry and that the Swiss company could get involved. The insurer’s comments came as it beat analysts’ forecasts …