By , Blanc succeeds Maurice Tulloch whom Aviva said was stepping down with immediate effect for family health reasons. It is the second change at the top in less than two months after chairman George Culmer took up the reins in May.The changes have revived speculation of a break-up of the life and general insurer, which some analysts and investors say has an unwieldy structure.“I’m not a business as usual person, and I haven’t come here to do a business as usual job,” Blanc, the first woman to run Aviva, said on a media call.“We will look at the strategic options.”Insider Tulloch took the...…By , Blanc succeeds Maurice Tulloch whom Aviva said was stepping down with immediate effect for family health reasons. It is the second change at the top in less than two months after chairman George Culmer took up the reins in May.The changes have revived speculation of a break-up of the life and general insurer, which some analysts and investors say has an unwieldy structure.“I’m not a business as usual person, and I haven’t come here to do a business as usual job,” Blanc, the first woman to run Aviva, said on a media call.“We will look at the strategic options.”Insider Tulloch took the...WW…

By , , ZURICH (Reuters) - Credit Suisse may have to book a charge over its dealings with Greensill, it warned on Tuesday, as investor scrutiny grows over its relationship with the British supply-chain finance company that collapsed into insolvency.The Swiss bank has had to close around $10 billion of supply-chain finance funds that bought notes issued by Greensill, and which it marketed to clients. It is also trying to recoup a $140 million loan it made to the company last year.“While these issues are still at an early stage, we would note that it is possible that Credit Suisse will incur a...…By , , ZURICH (Reuters) - Credit Suisse may have to book a charge over its dealings with Greensill, it warned on Tuesday, as investor scrutiny grows over its relationship with the British supply-chain finance company that collapsed into insolvency.The Swiss bank has had to close around $10 billion of supply-chain finance funds that bought notes issued by Greensill, and which it marketed to clients. It is also trying to recoup a $140 million loan it made to the company last year.“While these issues are still at an early stage, we would note that it is possible that Credit Suisse will incur a...WW…

By LONDON (Reuters) -Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two years ago.The 737 MAX resumed commercial flights in the United States last week, following a 20-month safety ban after two fatal crashes in five months killed 346 people.Insurers and reinsurers face claims from the crashes relating to hull and product liability that could amount to more than $2 billion, a large sum in a relatively small insurance sector, Willis Re...…By LONDON (Reuters) -Aviation reinsurance rates rose by up to 250% at the key Jan. 1 renewal date, broker Willis Re said in a report on Monday, with the market still reeling from the impact of Boeing 737 MAX crashes two years ago.The 737 MAX resumed commercial flights in the United States last week, following a 20-month safety ban after two fatal crashes in five months killed 346 people.Insurers and reinsurers face claims from the crashes relating to hull and product liability that could amount to more than $2 billion, a large sum in a relatively small insurance sector, Willis Re...WW…

By , Insurers have become an attractive proposition since the coronavirus crisis despite reputational damage from disputes over business interruption claims, industry sources say. Home-working has led to fewer claims on home and motor insurance while commercial insurance rates have risen sharply.RSA’s directors backed the Intact-Tryg bid unanimously and recommended shareholders vote in favour of the consortium’s offer, the company said on Wednesday, having first flagged the approach early this month.Best known in Britain for its More Than brand, RSA provides home, motor and commercial...…By , Insurers have become an attractive proposition since the coronavirus crisis despite reputational damage from disputes over business interruption claims, industry sources say. Home-working has led to fewer claims on home and motor insurance while commercial insurance rates have risen sharply.RSA’s directors backed the Intact-Tryg bid unanimously and recommended shareholders vote in favour of the consortium’s offer, the company said on Wednesday, having first flagged the approach early this month.Best known in Britain for its More Than brand, RSA provides home, motor and commercial...WW…