Insurers looking to mirror ‘customer obsession’ & more…Keep up to date with the latest insurance and business news in our weekly round-up…
Axa UK & Ireland has posted higher revenues in commercial lines and a slightly improved combined operating ratio (COR) for 2018.
The success of Amazon, Airbnb and other digital businesses has forced insurers to make radical technological changes as they aim to satisfy evolving customer expectations.
Allianz said today that its operating profit for 2018 was €11.5bn (£10.1bn), the highest in its history.
Successful implementations of the incoming accounting standard IFRS 17 have taken a three-step approach, with rushed projects resulting in suboptimal results and increased efforts.
Willis Towers Watson has posted $695m of profit for 2018 with $378m coming in the final quarter.
The UK’s largest mutual insurer, the Royal London Mutual Insurance Society is to transfer £1bn of its assets to Ireland amid increasing concerns over no-deal Brexit.
Zurich UK has posted improved results for the full year 2018. The insurer stated that business operating profit in the general insurance space 2018 reached £137m up from £50m the previous year.
The chancellor of the exchequer and the president of the Swiss confederation and head of federal department of finance have signed a deal to allow the UK and Switzerland insurance sectors to continue trading after the UK has left the EU.