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 reveals growth in commercial lines

Axa UK & Ireland has posted higher revenues in commercial lines and a slightly improved combined operating ratio (COR) for 2018.

Insurers looking to mirror Amazon’s ‘customer obsession’

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.

German insurance giant Allianz unveils record €11.5bn profit

Allianz said today that its operating profit for 2018 was €11.5bn (£10.1bn), the highest in its history.

Insurers urged to take three-step approach to IFRS 17

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.

Profits up at Willis Towers Watson for 2018

Willis Towers Watson has posted $695m of profit for 2018 with $378m coming in the final quarter.

Royal London to transfer £1bn of assets to Ireland over ‘no-deal’ Brexit concerns

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 returns to profit for 2018

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.

UK signs post-Brexit insurance deal with Switzerland

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.