News – Page 154
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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
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NewsLancashire falls to $23m H1 loss as Covid-19 claims hit hard
The insurer increased its loss estimate for Covid-19 to $42m
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People & OpinionJacques Bonneau appointed president and chief executive officer of PartnerRe
PartnerRe announces the appointment of Jacques Bonneau as its President and Chief Executive Officer (CEO) effective 28 July 2020. Mr. Bonneau has been a member of the PartnerRe Board of Directors since February 2019, having served on the Company’s Audit Committee and as the Chairman of its Underwriting and Risk ...
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Online onlyCOVID-19 litigation tracker identifies vulnerable industries
217 complaints have been filed in the US with 55% involving cruise ship passengers and nursing home residents and staff
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NewsNat cats cost global economy $75 billion in 1H 2020
Insurers paid out $30+ billion due to natural catastrophes in the first six months of the year
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NewsEmerging markets face “unparalleled” civil unrest
In India and Hong Kong, pre-existing grievances centre around political rights are likely to inflame protests - Verisk Maplecroft
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NewsFintech Baloon raises 1.8 million euros to accelerate its deployment in Africa
Baloon, leader in digital brokerage in French-speaking Africa, today announces a new round of funding of 1.8 million euros with its historical investors to support its development in the 3 new countries where it has launched. Created in 2017, Baloon develops personal insurance in French-speaking Africa through digital. By surfing ...
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People & OpinionQIC Global appoints acting chief executive for Antares Syndicate 1274
The promotion from active underwriter to chief executive is effective from 7 July
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People & OpinionCapsicum Re appoints new chairman as it spruces up executive committee
Chief executive Rupert Swallow created ‘a close-knit but diverse core leadership team’ to help the firm grow
