Himanshu Singh’s Post

It was lovely to catch up with Aviva's Jason Storah yesterday following the publication of the insurer's half-year financial results. I'll be sharing a few stories resulting from our chat on Insurance Times in due course - this first one reveals the direction of travel Aviva is hinting at for Probitas after the deal completed last month. Read the full article here... #UKGI #insurance #insuranceindustry #insurancenews #b2b #financialresults #acquisition #insurer #insurers

"Increase in insurance premiums pushes Aviva sales and profits higher" Great news. For those insuring cars/homes etc over the last couple of years, this may not come as a surprise, with Aviva reporting that general insurance premiums grew by 15% to £6 billion across the whole group, with an 18% rise in the UK and Ireland. The good news is that this is dropping down through to their bottom line, so now let's see how efficient competition is in this industry. If so, then hopefully this may mark the peak in those insurance premium increases we've all had to suffer over the last couple of years https://lnkd.in/eqsQ7f5P 👏 👏 👏

Aviva, a powerhouse in the UK insurance sector, has embarked on a transformative journey by acquiring Direct Line, a prominent competitor, in a groundbreaking deal worth 3.7 billion pounds, $4.65 billion,. This acquisition is set to revolutionize the insurance landscape by establishing the largest home and motor insurer in the UK, fortifying Aviva's position as a dominant force in the industry. The transaction, comprising a mix of cash and stock, reached fruition after a preliminary agreement in December. Under the rigorous UK takeover regulations, Aviva needed to formalize the offer by Christmas or withdraw it. Completing this acquisition is a defining moment, not only for Aviva but also for the UK's insurance sector, which plays a pivotal role in Europe's market. According to IndexBox data, the UK insurance market has seen consistent growth with a compound annual growth rate surpassing 4% in recent years. This reflects the escalating demand for home and motor insurance products. Aviva's strategic move to acquire Direct Line aligns with the growing market trends, aiming to leverage this momentum for expansion and innovation. The acquisition promises enhanced operational efficiencies and a broader portfolio for Aviva, enabling the company to offer a more diversified range of insurance solutions. By integrating Direct Line's strengths and capabilities, Aviva is poised to deliver superior value to its customers and stakeholders, while setting new benchmarks in the industry. This deal signifies more than just an expansion; it is a strategic alignment with emerging market dynamics, reinforcing Aviva's vision to be at the forefront of the insurance industry. Market observers anticipate that this merger will stimulate further consolidation in the insurance field, prompting competitors to rethink their strategies to maintain competitiveness. Aviva's bold step has been met with interest and speculation within the industry, as the implications of this acquisition unfold. As the company integrates and aligns its operations, stakeholders eagerly await the innovative offerings and enhanced customer experiences that this union is likely to deliver. In the rapidly evolving landscape of insurance, Aviva's acquisition of Direct Line marks a forward-thinking approach to growth and excellence, promising to reshape the industry's future trajectory. #Aviva #DirectLine #InsuranceIndustry #MergersAndAcquisitions #UKInsuranceMarket #HomeInsurance #MotorInsurance #BusinessGrowth #StrategicExpansion #IndexBox #IndustryLeaders #FinancialNews #MarketTrends #InsuranceInnovation #CorporateStrategy #EconomicDevelopment https://lnkd.in/dGAVuTw2

The ICMIF Global Mutual Market Share 2024 report aggregates financial and non-financial statistics for over 4,700 mutual, cooperative and member-owned insurers. With data collected over a 15-year period, this year’s report highlights how the #mutual and #cooperative #insurance sector performed against the rest of the global insurance market. In FY 2022, the sector collectively wrote USD 1.41 trillion in insurance premiums and increased the sector’s share of the total insurance market to an eight-year high of 26.3%. #CollaboratingWithPurpose #OnlyAtICMIF #ConnectingMutualsGlobally #Insurance #Mutuals #Cooperatives #MutualInsurance #GlobalMutualMarketShare

Major Announcement in the UK Insurance Industry Aviva has officially acquired Direct Line Group, a significant development that will undoubtedly shape the UK insurance market. This move consolidates Aviva’s position as one of the largest motor insurers in the country, setting the stage for exciting opportunities and challenges ahead. Wwings Infra Solutions Private Limited #InsuranceIndustry #AvivaDLG #MarketInnovation #LeadershipInInsurance

Phoenix Group, a UK insurer, has halted the sale of its SunLife unit due to regulatory uncertainty. The decision comes as the company navigates evolving financial regulations, which have created challenges in finalizing the deal. Phoenix is now reassessing its strategic options for SunLife amid this uncertain landscape. #Insurance #Phoenix #SunLife #RegulatoryUncertainty

One of the projects I enjoy working on most each year- the only research of its kind on the global cooperative and mutual insurance sector's position in the total insurance market. #insurance #cooperative #mutual

Interesting read, Generali have big plans for 2024! The market over the last 12 months has indicated signs of large scale consolidation, from large PLC's to brokers the deals and rumours keep coming. #insurance #insurancenews #insuranceireland https://lnkd.in/ei3zpupV

Insightful article on market softening in 2024. #insuranceindustry #premiumfinance #2024trends

Insurance and Reinsurance In one informal discussion, my friend told me that he has little knowledge about Re-insurance. I found having a career in different areas as advantageous for being resourceful, and address such accidental question. Insurance is one of humankind’s greatest inventions, an extraordinarily useful tool to reduce risk. When it works as intended, it provides financial protection for individuals and a profitable business model for insurance firms and their investors. #Insurance is a mechanism, which mainly involves such activities as risk financing, risk transfer and risk combination. In insurance, the following constitute as the major players: insurer, insured , insurable risk, and off course reinsurer. The individual/business (insured) transfers his risk of loss (insurable risk) to an insurer who finances the risk in return for a premium. The insured substitutes the certainty of a premium for an unknown loss in regard to insurable risks. Insurance operation requires a re-insurer. The need for reinsurance comes in to the picture because an insurer alone cannot carry risks. So, reinsuring or again insuring of a risk becomes necessary. In short, #reinsurance is “insurance for insurers “. It carries out one of the fundamental principles of insurance, namely that risks need to be spread as widely as possible. The more broadly they are shared, the more cost effective it becomes to cover them. As the premiums paid for both insurance and reinsurance are often invested via the financial markets,  insurance  and reinsurer firms contribute significantly to every economy , through driving growth and benefiting society in general.