Aviva completes £103m transaction for scheme & more…Keep up with what has been happening this week in our latest insurance news round-up…

Fidelis raises $60m in equity capital during Q4

Fidelis Insurance Holdings announces that ir has raised an additional $60 million in equity capital from existing and new investor relationships.

Zurich and Farmers Exchanges agree to buy MetLife’s business for nearly $4 billion

After motor and home insurers became more profitable during the pandemic, Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion.

Aviva completes £103m transaction for scheme

Insurer, Aviva have completed a bulk purchase annuity transaction worth £103m for the Homestyle 2007 Scheme allowing them to insure the defined benefit pension liabilities of their scheme members.

Interest into cyber insurance grows in 2020

According to GlobalData’s 2020 UK Insurance Consumer Survey, one in five individuals are interested in purchasing cyber insurance, with 58% of those interested having a household income of less than £50,000. Daniel Pearce, Senior Insurance Analyst at GlobalData, comments: “The need for cyber insurance policies has long been identified in the commercial space, where reliance on technology for day-to-day business activities has grown at an exponential rate.

Tesco speeds up insurance claims process with new platform

Tesco Underwriting has used a low-code platform from Netcall to help improve its Net Promoter Score and streamline how the business processes complex insurance claims.