The provider reported a result after tax of £22.8m compared to £45.4m in H1 2019.
UK COR hit 106.3% for the first half of 2020 as GI CEO Colm Holmes points to a strong underlying performance despite the business remaining in cost-cutting mode.
The CEO said that as part of this there may be some market withdrawals and “difficult” decisions as she reaffirms Aviva’s commitment to brokers as UK COR soars amid Covid-19.
However commercial business sees GWP decline in H1 2020 numbers as provider predicts £80m Covid-19 BI hit.
The deal values Hastings at around £1.66bn as the provider also publishes half year results.
Unite said the deal is a “betrayal” of the Co-op philosophy as trade union predicts 200 jobs at risk once deal goes through.
The group is meeting with Centerbridge Partners Europe, LLP alongside Towerbrook Capital Partners UK, Platinum Equity Advisors and Warburg Pincus International as it flags £2.65bn of debt.
Provider expects Covid-19 premium slip of £110m for the group, including an estimated £81m impact in the UK & International business, as it also reveals a £33m loss on its UK and London market exit portfolios.
Sampo Oyj has approached the business along with Rand Merchant Investment Holdings.
The motor insurer said it had continued focus on a strategy of prioritising underwriting profitability over volume whilst reflecting Covid-19 impacts using a data-driven pricing approach.
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.
Exclusive: The broker has handed back cash following an internal review and admits some clients were not offered the most competitive terms between 2012 and 2018.
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
The regulatory body must make a decision on whether to refer the merger for further investigation by 16 September this year.
Prices fell by 5% in the last quarter according to the Confused/Willis Towers Watson index.
The Brolly team, including founder Phoebe Hugh, is set to move across to Direct Line once the deal is completed.
Broker Extra 2020: Every effort is being made to ensure the UK economy fires up again, but how will brokers be operating and can they find better ways to function? Aviva's Phil Bayles, Ian Donaldson of Atlanta Group and Sara Fardon, of Willis Towers…
Experts predict she will focus on expanding the business rather than carving bits off, while one broker warns "heads will roll" on the provider's top team.
It is early days yet, but new CEO Amanda Blanc is certainly talking the talk when it comes to turning around Aviva. Insurance Age content director Jonathan Swift outlines where the battle could be won when it comes to her being considered a success or…
The sharing economy specialist has secured capacity from Accredited Insurance.
Insurance Covid-Cast: Future of Insurance Work - What do millennials want from their employers; and has it shifted due to Covid-19?
For the 32nd episode of Post and Insurance Age’s video series we gathered together a panel to discuss how millennials have experienced lockdown and what temporary practices they would like to see made permanent.
Cega Group chief executive Alistair Hardie is to replace Bob Darling as CEO of Jensten Group, the broker has announced.
For the 31st episode of Post and Insurance Age’s video series we returned once more to the Insurtech 100 compiled by Sonr Global to spotlight the number two ranked start-up We Sure.