All News articles – Page 190
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NewsAM Best Comments on Port Explosion in Beirut
AM Best is monitoring the situation in Beirut, Lebanon, following the devastating explosion at the city’s port on Tuesday, 4 August. The cause of the explosion, which resulted in many casualties and considerable damage is still under investigation. As the situation is unfolding, the likely effect on the local insurance ...
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Global MattersCOVID-19 brings intangible assets into full focus - Lloyd’s publishes report today in collaboration with KPMG
Intangible assets are an increasing proportion of companies’ balance sheets, already accounting for as much as 85% of the total business value across industries according to estimates. With the acceleration of digital business models, amplified by COVID-19, this value could now increase much further, becoming a major blind-spot for firms ...
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NewsBeirut port disaster loss to impact global insurers
Observers are drawing comparisons with the 2015 explosion in the Chinese port of Tianjin, which highlighted accumulation exposures in ports - AM Best
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NewsGRS appoints Chris Heywood as Chief Systems Architect
Global Risk Solutions, Inc., a leading provider of a diverse range of claims adjusting and environmental risk management solutions, is continuing to expand and deepen its technology capabilities with the hire of Chris Heywood as Chief Systems Architect.
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NewsEverest Re Group Reports Second Quarter 2020 Results
Everest Re Group today reported that for the three months ended June 30, 2020, net income was $190.9 million, or $4.77 per diluted common share, compared to net income of $332.9 million, or $8.15 per diluted common share, for the three months ended June 30, 2019.
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NewsCovid-19 pandemic impacts AXA’s underlying earnings
Despite the Covid-19 pandemic AXA said its “well positioned” as a group and remains resilient in these challenging circumstances
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NewsMunich Re posts good Q2 result despite high losses from COVID-19
Munich Re generated a profit of €579m (993m) in Q2 2020, and €800m (1,626m) in Q1-2. Business development was encouraging, with the exception of the drag on profit due to COVID-19-related losses totalling around €700m in Q2 and some €1.5bn in Q1-2 2020.
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People & OpinioneMaxx announces the appointment of Eileen Currie to lead insurance operations
eMaxx, a leading commercial property and casualty InsurTech, today announced that Eileen Currie has been appointed President / CEO of eMaxx’s insurance operating companies.
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NewsHastings ‘very pleased’ with share capital offer from investors
The deal recognises the ‘inherent value in the company’ adds Hastings’s group chief financial officer
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NewsAIG Reports Second Quarter 2020 Results
Brian Duperreault, AIG’s Chief Executive Officer, said: “We are effectively navigating the current complex environment due to the strong foundation we built over the last three years. While unprecedented and on-going, COVID-19 remains an earnings, not a capital, event for AIG. We also increased our financial flexibility ending the second ...
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NewsOneConnect and Swiss Re to Partner on Smart Claims to Europe
OneConnect and Swiss Re are joining forces to co-develop a digital end-to-end solution for motor claims handling for the European market, based on artificial intelligence (AI) and advanced data analytics .
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NewsSwiss Re maintains industry-leading capital position in the first half of 2020 despite significant addition to COVID-19 loss reserves
Swiss Re reported a net loss of USD 1.1 billion for the first half of 2020 after booking claims and reserves related to COVID-19 of USD 2.5 billion. Excluding the impact of COVID-19 losses, net income amounted to USD 865 million for the period, reflecting a strong underlying business ...
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NewsHannover Re achieves profit of EUR 402 million for the half-year despite substantially increased risk provision for Covid-19
After the first quarter had passed off broadly in line with expectations, the impacts of the Covid-19 pandemic on Hannover Re left a much clearer mark on the results for the second quarter of 2020.
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NewsAllianz Holdings half-year results bolstered by LV=GI
Allianz Insurance saw fall in operating profit during the first half of the year
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NewsAviation insurance industry braces for fallout after Branson’s Virgin Atlantic goes bust
Gallagher warns that Covid-19 could ‘act as a catalyst’ for rate increases translating into a harder global insurance market
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NewsBeirut explosion, 5 years on from Tianjin
The large blast in Beirut, Lebanon is expected to result in a significant insurance event as the death toll and casualties from the explosion continue to rise.
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People & OpinionGuy Carpenter bolsters executive committee with three new members
The executive roles being filled include the newly created position of global head of distribution
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NewsAviation, tourism, oil and energy sectors face the biggest Covid-19 risks say insurers
A survey conducted by Gallagher highlighted the insurance portfolios that underwriters are most concerned about
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NewsHard market to prompt captive growth
Firming commercial insurance prices and impacts from COVID-19 could present opportunities for the captive insurance segment - AM Best
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NewsHiscox ups Covid reserving in face of ‘largest insured loss in history’
Hiscox revised its reserving upwards alongside taking into account potential business interruption payouts; the insurer believes its exposure to Covid-related BI claims could be between £10m and £250m
