CEO Steve Treloar explains the consultation process is now complete after the provider last year put up to 600 roles from across LV and L&G at risk as part of a restructure.
Provider says total impact of Covid-19 BI claims in 2020 was £175m and details it has to date paid 78% of valid SME claims.
LV’s broker business has signed a five year deal with the provider.
The former UK and group CEO for Axa will oversee Allianz Insurance and LV General Insurance.
However commercial business sees GWP decline in H1 2020 numbers as provider predicts £80m Covid-19 BI hit.
LV General Insurance has revealed “worst case scenario” of up to 600 job cuts as it restructures and integrates L&G.
The cull follows the acquisition of Legal & General as the personal lines insurer seeks to integrate the businesses and streamline its claims function.
In the 23rd episode of Post and Insurance Age’s video series we gathered together a trio of start-ups featured in the Insurtech 100, all of which are focused on the distribution of products through the business-to-business-to-consumer channel.
There is evidence that people are looking to ride share or borrow a vehicle more to avoid public transport in light of Covid-19. However, Tempcover's Alan Inskip expects there to be deep-rooted changes in attitudes towards vehicle usage post-lockdown…
The provider published a Q1 trading update, the first to incorporate Allianz, LV and Legal & General, as it says it has made 200-plus Covid-19 claims pay outs.
The proportional refunds for customers in distress follows Admiral's flat £25 payment but broker customers are not included in the £30m LV has set aside for rebates.
Updated: Major insurers including Axa, Aviva, Ageas, LV and Zurich respond on automatic rebates as motor disrupters say the Admiral £25 move does not go far enough and questions are raised about the gesture.
The ABI and the Association of Consumer Support Organisations have developed a statement of intent recommending remote video examination and rehabilitation.
Insurance Age finds out how Michael Lawrence, broker distribution and underwriting director at LV, has adapted to changes in working practices amid the Covid-19 outbreak.
Move comes after LV completes the transfer of its commercial lines business to Allianz.
But CEO Steve Treloar says premiums in the provider's broker business has grown by 24% after Allianz's personal lines business transferred to LV.
InsureandGo says policies will not cover Covid-19, while Staysure continues to sell travel insurance and travel disruption cover.
Provider says existing customers will not be affected by the move.
UK CEO Jon Dye comments on the insurer's financial results for 2019 and discusses broker support and acquisitions.
Staveley Head, which was mainly backed by unrated provider Gefion, advertised major composites on its website. Most of these confirmed only a handful of policies with the broker.
Provider says the purchases of LV and L&G's GI businesses will see Allianz become the second largest general insurer in the UK.
Michael Lawrence, broker distribution and underwriting director at LV, considers the headlines of 2019 and Simon Mabb, group managing director at Romero Insurance Brokers, predicts those of 2020.
In July, the market was shocked by the departure of Amanda Blanc from Zurich after only nine months in the CEO EMEA role.
CEO Jon Dye said the business is "still in good shape" despite the slip in performance.