All News articles – Page 139
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NewsLockdowns expected to bring big drop in claims costs this year, but 2021 predicted to turn negative
Underlying claims inflation, Brexit and the FCA’s new pricing rules could turn underwriting profits red next year, predicts EY
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NewsHamilton Launches Ada Capital Management
Ada Re will benefit from access to the breadth of Hamilton’s underwriting expertise, including its proprietary portfolio management and pricing system, Hamilton Analytics & Risk Platform (HARP).
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NewsNew Bermudian reinsurer Vantage Risk assigned A- rating
Vantage plans to expand into primary insurance lines and operate as Vantage Group. Dinos Iordanou, formerly of Arch Capital Group Ltd., will serve as a non-executive chairman for the greater group, with Greg Hendrick, formerly of Axa XL, serving as the group’s chief executive officer.
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NewsBermuda’s reinsurance resilience highlighted
“Bermuda is at the forefront of global capital raising in the reinsurance sector with estimates of approximately $12 to $15 billion of new capital being deployed into the sector in the last several months,” said Arthur Wightman, PwC Territory and Insurance leader.
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NewsZurich confirms it is in discussions regarding MetLife’s U.S. P&C business
If the negotiations conclude successfully, a deal could be announced by early December, the sources said.
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NewsEx-Hiscox bosses create new insurance business at Lloyd’s with $800 million start-up finance
A group of ex-Hiscox chiefs have set up a new London insurance group at Lloyd’s with $800 millon of backing from international investors and hired City heavyweight Sir Howard Davies as chairman. Inigo is being founded by Hiscox’s former chief underwriter Richard Watson, who stepped down from his former employer ...
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NewsAviva sells Italy life business as Blanc doubles down on UK champion strategy
Aviva is selling one of its Italian entities, having previously announced the sale of its Indonesia and Singapore businesses
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NewsSompo International Commercial P&C announces new global brand campaign
Sompo announced today the launching of a new brand campaign and tagline, “Promise. Trust. Protect. At the center of everything we do.”
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NewsAM BEST AFFIRMS CANOPIUS’ FINANCIAL STRENGTH RATING
The ratings reflect Canopius’ balance sheet strength, which AM Best categorises as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
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NewsAcquisition deal for Hastings completed
Following a court hearing on 13 November, which sanctioned a scheme of arrangement under part 26 of the Companies Act, the offer is now effective.
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NewsLloyd’s broker enters professional indemnity and public liability cover for esports
The esports industry is estmated to generate $1.6bn (£1.2bn) by 2023
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NewsClarifying causation will be crux of Supreme Court ruling – Fenchurch Law
However, Supreme Court judges also suggest a public policy stance around pre-trigger losses
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NewsAon announces additional $5.0 Billion share repurchase programme
“We are committed to maintaining our strong position of financial stability and flexibility, while continuing to allocate capital to the highest ROIC opportunities,” said Greg Case, Chief Executive Officer.
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Qataris back £600m Lloyd’s insurance vehicle Inigo
A group of global investors including Qatar’s main sovereign wealth fund are in advanced talks to back a new Lloyd’s of London vehicle which will be among the largest British insurers to be launched in the last decade.
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NewsSwiss Re confirms targets as it grapples with pandemic
The reinsurer has swung to a loss in the first nine months of 2020 as it and competitors faced large claims from the pandemic as well losses from hurricanes and wildfires in the United States.
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NewsMPs to buttress post-Brexit Britain as a financial centre
Britain’s lawmakers launched an inquiry on Friday aimed at ensuring its financial services remain globally competitive after the country’s full departure from the European Union next month.
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NewsOver half of insurance staff want to remain home working post pandemic - KPMG
Financial services employees under the age of 30 are the most keen to continue working from home on a permanent basis
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NewsLloyd’s pandemic losses worse than predicted, says chairman Carnegie-Brown
The insurance market previous estimated losses would be around the $107bn mark, but has revised that figure upwards
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NewsComparetheMarket slapped with fine for breaking competition rules
Price comparison site ComparetheMarket imposed ‘most favoured nation’ clauses on its home insurance contracts over a two-year period
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News‘The biggest risk for insurers is reputation’ says Aviva’s Blanc
The insurer boss adds that the industry’s reputational damage arising from the business interruption test case has left her feeling ‘very sad’ and that the industry needs to ‘not shoot ourselves in the foot as much as we do’
