All News articles – Page 149
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NewsCoverys Managing Agency has notified Lloyd’s of its intention to put DTW Syndicate 1991 into run off
Coverys Managing Agency Limited today announced that DTW Syndicate 1991 at Lloyd’s will cease to accept new and renewal business with effect from 31 December 2020.
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NewsGlobal insurance markets set to rebound with China leading recovery, says Swiss Re Institute
Among the large advanced economies, the UK, Japan and the US are expected to see their fiscal buffers depleted most.
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NewsInsurance losses from U.S. West Coast wildfires to top $8 billion: Aon
Insurance and reinsurance industry losses from wildfires across U.S. states, including California, Oregon and Colorado, were estimated to be more than $8 billion, according to a monthly report on global catastrophes by Aon Plc. Global Catastrophe Recap Report Oct 2020.
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NewsGlobal GDP to grow by 4.7% in 2021
Amid uncertainty over the COVID-crisis, public policy should focus on sustainable infrastructure development and inclusive growth - sigma
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NewsDigital distribution capabilities ‘critical’ to securing SME business says Markel
Aon has interviewed the Co-Chief Executive Officer of Markel Corporation, Richie Whitt, as part of its Virtual Reinsurance Renewal Season fireside chats.
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NewsRuling against Thierry Derez and Covéa by the commercial court for misconduct
Ruling against Thierry Derez and Covéa by the commercial court for misconduct during the preparation and execution of Covéa’s unsolicited takeover bid for Scor
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NewsHard market: “Start renewals early”
Risk managers should start their renewal process early and manage their expectations as the hard market plays out, advises FM Global
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NewsUsing AI to manage supply chain risk
As much as 43% of third-party relationships are not subject to any form of due diligence checks, finds Refinitiv
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NewsAXA XL and Xtract partner to digitise commercial auto claims
AXA XL’s insurance business has entered into a multiyear partnership and licensing agreement with Xtract to digitise, expedite and transform the commercial auto claims management process in the US.
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NewsThe Next Phase: North American Insurance (Pandemic Accelerates Change in the Insurance Landscape)
As the “longest year” enters its final weeks, Fitch provides its view of the possible longer term implications of the coronavirus pandemic for the North American insurance industry.
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NewsOne in five cancel insurance amid financial pressure of pandemic – Premium Credit
Rising premiums have seen more customers turn to premium finance
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NewsFCA’s focus on fair value marks industry ‘step-change’
Industry experts say that the ‘status quo has to change’ and that the concept of fair value now needs to be embedded within organisational culture and business models
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NewsInsurance shares soar on vaccine hopes
Insurance shares have risen sharply as markets reacted favourably to the announcement from pharmaceutical giant Pfizer that it had developed a Covid-19 vaccine that was 90% successful in trials.
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NewsCinven and GIC to acquire specialist insurance broker Miller
Cinven, the international private equity firm, and GIC, Singapore’s sovereign wealth fund, today announce that they have reached an agreement to acquire leading specialist insurance and (re)insurance broker, Miller, from its partners and corporate member, Willis Towers Watson (“WTW”)
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NewsMunich Re with solid profit for the quarter, considering high losses
Given the ongoing high level of uncertainty regarding the further economic and financial consequences of COVID-19, Munich Re will again not issue profit guidance for 2020 with its Q3 statement.
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NewsStart-Up Reinsurer Conduit Aims for $1.1 Billion London Listing
Conduit, which will be led by its founders Neil Eckert and Trevor Carvey, expects to use the money raised to write reinsurance in property, casualty and specialty classes.
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NewsGlobal ransomware attacks rise 110% in September
Overall, there was a 40% rise in ransomware attacks in the first three quarters of 2020 compared to the same period last year
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NewsGuy Carpenter launches Probabilistic Vietnam Flood Model
The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, which affect 70% of the country’s population.
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NewsAllianz cautious on outlook despite surprise profit rise
After a short period of economic recovery, the recent increase in infection rates has led many governments to intensify containment measures again to limit the spread of COVID-19. As the challenging socio-economic conditions persist, Allianz Group demonstrated its resilience again in the third quarter of 2020 and recorded a solid ...
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NewsBuffett’s Berkshire suffers in pandemic even as Apple boosts profit
Some Berkshire operating businesses have rebounded from their spring depths, and analysts were encouraged that revenue fell just 3% from a year earlier. But COVID-19, hurricanes and low interest rates hurt profit from insurance businesses, which include the Geico auto insurer, and the Precision Castparts aircraft parts unit projected thousands ...
