Stephen Hester News

UK Insurance Industry Leaders Form Steering Group to Propose Pandemic Response, Chaired by Catlin

UK Insurance industry leaders have combined to form a steering group, which will work with terrorism reinsurer Pool Re, with the primary objective to ensure that, working alongside the industry to support customers and communities in the current crisis, the …

UK’s RSA Insurance Posts Above-Forecast Profit of $920.2M in 2017

Even higher payouts for RSA shareholders are likely in 2018, chief executive Stephen Hester said on Thursday after the company posted an above-forecast 2017 operating profit and boosted its dividend by 23 percent. Analysts had been looking for a special …

UK’s RSA Reports 14% Hike in Q1 NWP, Operating Profits Ahead of Plan

London-listed insurer RSA reported a 14 percent rise in first-quarter net written premiums on Thursday and said operating profits were ahead of plan, sending its shares higher. Best known in Britain for its More Than brand, RSA has been selling …

RSA Insurance Disposes of £834M ($1B) of UK Legacy Liabilities with Enstar

RSA Insurance announced it has signed contracts, to dispose £834 million (US$1.04 billion) of UK employers’ liability legacy business to Enstar Group Ltd. The transaction initially takes the form of reinsurance (a 100 percent quota share policy) to be effective …

UK Insurers Aviva and RSA Report Higher H1 Profits, Shrug Off Brexit Fallout

Insurers Aviva Plc and RSA Insurance Group Plc shrugged off any fallout from the Brexit referendum by reporting higher first-half profit and increasing shareholder payouts. The shares rallied in London trading. Aviva, the U.K.’s second-largest insurer, posted a 13 percent …

RSA Turnaround ‘Complete’ with Cost Cuts & Non-Core Disposals on Track: CEO

RSA Insurance Group Plc Chief Executive Officer Stephen Hester says the company, which was the subject of an abandoned 5.6 billion-pound ($8.1 billion) takeover offer, is now much more valuable for any future owner. The insurer reported on Thursday an …

CEO of UK-Based Aviva Paid $8M in 2015, More Than Double His 2014 Paycheck

British insurer Aviva chief executive Mark Wilson’s take-home pay more than doubled to 5.67 million pounds ($8.1 million) last year, after the purchase of rival Friends Life, Aviva’s annual report showed on Tuesday. Aviva completed the 5.6 billion pound acquisition …

RSA’s CEO Warns That UK Withdrawal from EU Could Have Negative Impact

RSA chief Stephen Hester said a British exit from the European Union could have a negative impact on the insurer’s business and investment returns, underscoring a warning from top executives about the impact of withdrawal. Hester was one of 36 …

RSA Appoints Hancock to Lead Broker Relationships, Heiss as Chief Legal Officer

RSA, announced that Derek Walsh, group general counsel, company secretary and global broker relationship director, has decided to leave RSA at the end of February after five and half years. In response to Walsh’s departure, RSA said that Jon Hancock …

Update: RSA Reports 1% Rise in NWP Despite ‘Distraction’ of Zurich Bid

British insurer RSA is not looking to be taken over but might consider offers if they are in shareholders’ interests, Chief Executive Stephen Hester said on Thursday after the firm posted a 4 percent rise in net asset value in …