All News articles – Page 109
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NewsLancashire profit slides on Covid and catastrophe losses
Insurer Lancashire Holdings Ltd saw its full-year profit slide, as losses related to Covid-19 and natural catastrophes took their toll. The Bermudian-based company said pretax profit fell to $5.9 million in 2020, down from $119.5 million in 2019. Net losses related to Covid-19, natural catastrophes including California wildfires and hurricanes ...
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NewsSpanish snowfall claims to reach €1.8 billion
Storm Filomena brought wintry conditions and cold temperatures not seen in Spain in two decades - Impact Forecasting
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NewsBank of England rules out big capital reduction for insurers after Brexit
The Bank of England told insurers on Wednesday not to expect any big reduction in capital requirements after Brexit, adding that more capital could be “part of the answer” to meeting a 1.7 billion pound bill for COVID-19 claims.
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NewsGlobal all-in-one e-trading platform aims to save brokers time on deal-making
Riskbook has rebranded as Supercede alongside revealing its global e-trading platform which claims to save brokers time on administration when deal-making.
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NewsD&O protection gap grows as rates soar
Escalating premiums and lack of capacity could see firms refusing to purchase or reducing cover, leaving senior professionals on the hook for claims
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NewsAllianz Insurance has issued BI claims pay outs on 75% of valid claims
Allianz Insurance has confirmed that it has paid out on 75% of its valid business interruption (BI) claims – by the end of January 2021, this amounted to 1,832 interim and final claims payments.
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NewsPerth Hills bushfires declared a catastrophe
Bushfires in the north-east Perth Hills region have so far destroyed 81 homes, with insurers receiving over 270 claims worth $40m
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NewsReinsurer secured pandemic protection before Covid-19 crisis
The world was caught unprepared by the Covid-19 pandemic, however a Bermudian-based reinsurer secured some pandemic coverage protection only weeks before the coronavirus health emergency unfolded.
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NewsDubai Insurance Co. has numbers to back its return to growth
Its general insurance lines could see gains from an upcoming economy upturn
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NewsSCOR +15.9% premium growth at January renewals
SCOR begins 2021 with excellent renewal results, in line with the forecasts shared during its September 2020 Investor day, when the company was amongst the first reinsurers to outline a very positive outlook for the P&C reinsurance market.
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NewsUK firms underinsured for flood risk
Nearly three quarters of businesses are aware of their flood risk, but less than half have comprehensive flood cover
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NewsLloyd’s launches systemic risk initiative
The COVID-19 pandemic has highlighted gaps in the knowledge, understanding, and mitigation of systemic and black swan risks
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NewsHard market is ‘biggest opportunity we have’ – McGill and Partners
The broker’s head of structured solutions admits that he lives ‘on tension and strain in the market’ in order to drive product innovation
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NewsIrish High Court rules against insurer FBD in Covid-linked BI claims case
The ruling could impact claims made by around 1,000 Irish pubs and restaurants
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NewsBlaser launches new global specialty insurer
Mosaic, which will target complex risks and use cutting-edge technology to maximise efficiency, is basing its head office and an underwriting operation on the island.
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People & OpinionDavid Brosnan named chief executive officer of W. R. Berkley Syndicate Management
Mr. Brosnan has 35 years of insurance industry experience, having served in various executive leadership roles at a number of global insurance organisations.
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NewsThe Hartford announces Q4, 2020 financial results and 2021 Outlook
“We have been through one of the most turbulent years in recent history, which was shaped by the COVID-19 pandemic, the economic shutdown, social unrest and a significant number of catastrophe events. Despite these challenges we delivered strong core earnings of $2.1 billion, or $5.78 per diluted share, and a ...
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NewsTalanx generates solid net income of EUR 673 million in 2020 despite coronavirus pandemic
Coronavirus claims expenses totaling EUR 1.5 billion were incurred in the industrial insurance and reinsurance and Retail Germany areas in particular. Without these claims resulting from the historic global pandemic the Talanx Group would have exceeded last year’s record results.
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NewsInsurer Beazley swings to loss on COVID-19 claims, confident on 2021
Insurer Beazley swung to a loss in 2020 as it was hit hard by pandemic-related claims for cancelled or postponed events, but said it was confident of returning to profit in 2021.
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NewsGlobal commercial insurance Pricing up 22% in Q4 - Marsh
Although the global index increased 22%, the index shows that price increases may be starting to plateau for some lines of insurance in certain geographies.
