Operations/tech

The activist investor cited progress on governance issues in pulling back two proposed directors but pushed Safety Insurance for further strengthening.

The ratings agency has also terminated the provision and redistribution of all information products and services to clients in Russia with immediate effect.

Board members include the former CEO of Assurant and the chief legal officer of Stripe.

The newly installed CEO wants to build on the businesses the firm has and deliver a low 90s combined ratio.

As well as wheeling out the same old products, the sector manages new risks through exclusion and does a poor job of telling its story to insureds.

The investment firm said that pivoting to a pure-play insurance data business would unlock up to $20bn of value.

In some cases, sources said, wages have increased between 25% and 35% over the last 12 months.

Social media posts, campus recruiting and apprentice programs are all deployed to draw a new generation to insurance, but the broader industry is not focusing on refreshing the ranks.

The company said it would look to use its program skillset strategically to enhance and position some of its new product verticals.

As part of the revamp, Michael Chang has been named global head of customer and distribution.

Inside P&C’s news team runs you through the key developments from the past week.

The Hanover swung back to underwriting profit of $88mn after a cat-heavy Q3.