All Global Reinsurance articles in Online – Page 98
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NewsInsurers have paid more than £875m in interim and final BI payments this year
Since the Supreme Court’s decision in January for the FCA’s test case around Covid-19-related business interruption (BI) claims, a total of £875,489,994 has been paid out by insurers for either interim or final BI claims payments across 23,933 claims, according to updated data published by the FCA yesterday (13 July ...
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NewsLondon professional indemnity market expected to thrive over the next year – Clyde and Co
As 94% of insurers plan to write the same or more business in the professional indemnity (PI) market over the next 12 months – recession, cyber threats from remote working, and continued regulatory oversight are top of the insurance industry’s list of concerns, according to global law firm Clyde and ...
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People & OpinionLloyd’s hires Legal and General chief operating officer for newly created role
The new hire has 20 years of experience in the insurance and finance sector
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NewsNew Zealand’s antitrust watchdog considers Aon’s proposed divestments ahead of WTW merger
The Commerce Commission is set to deliver its decision on 20 August as to whether it will approve the acquisition
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NewsSwiss Re teams up with Milliman Appleseed to accelerate new entrants offering private flood insurance
The new simplified product offering was developed by Swiss Re to provide flexible coverage for low and moderate flood risks.
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NewsRokstone receives cover holder licence to underwrite in Africa
Rokstone, the international speciality (re)insurance MGA, part of Aventum Group, has announced it has secured an Insurance Agent Licence from the Financial Services Commission in Mauritius (FSC) and is now fully authorised to underwrite business directly in Africa from its office in Mauritius. Brokers across Africa can now access world ...
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NewsLiberty Mutual Insurance to acquire State Auto Group
The acquisition will significantly expand Liberty Mutual’s position as an industry leader for personal lines and small commercial insurance.
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NewsFitch: Olympics without crowds to cost Reinsurers USD300m–400m
Fitch Ratings says. However, this is only 10%–15% of the amount reinsurers would have faced had the Olympics been cancelled, and its impact on earnings should be limited, leaving capital and ratings unaffected.
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NewsIs the ‘harsh market’ starting to ease?
At mid-year, pricing for most classes of business was back to technical levels - but cyber remains an outlier
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People & OpinionBeazley appoints new chief operating officer from HSBC
London market insurer Beazley has appointed former HSBC staffer Troy Dehmann as its new chief operating officer, effective immediately.
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NewsEuropean Commission approves Aon-WTW merger subject to divestments
The European Commission (EC) has approved broker Aon’s acquisition of Willis Towers Watson (WTW), subject to planned divestment deals with international broker Gallagher.
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NewsPool Re forms advisory group for systemic risks
12 members have joined the group, planning to act to protect the UK economy as ‘when the next risk comes, we must be ready for it’
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NewsInsurance industry leaders inaugurate alliance to accelerate net zero transition
As the intergovernmental G20 forum gathered in Venice for its Climate Summit on 9 and 10 July, eight of the world’s leading insurers and reinsurers have collaborated to establish the UN-convened Net Zero Insurance Alliance (NZIA).
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NewsAllianz: Piloting post-COVID aviation trends
New generation aircraft bring benefits but higher repair costs while airlines prepare for a paradigm shift in traveling - Allianz
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NewsCOVID-19 forced firms to ‘cut corners’
Under mounting pressure to increase revenue and profits, with just 40% of European organisations carrying out adequate due diligence - Refinitiv
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NewsBriefing: Solvency II and GDPR face big shake up amid Tory post-Brexit war cry
MP Iain Duncan Smith leads the charge on radical post-Brexit insurance plans
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NewsGlobal cyber insurance pricing increases by 32% – Howden
International insurance broker Howden released a new report yesterday (5 July 2021) which revealed that cyber insurance pricing has increased by an average of 32% year-on-year in June 2021.
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NewsInsurers are making demands of 40-year-old buildings after Surfside condo collapse
The deadly collapse of the 136-unit high rise has spooked an industry that had already considered older condos on the coast — with their hurricane exposure, their common ownership structure and reputation for delaying maintenance — a high risk, experts say.
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News‘Colossal’ ransomware attack hits 200 firms
Attack on Miami-based IT supplier Kaseya was timed to coincide with the 4th of July celebrations
