News
Beazley boss upbeat on 2021 after COVID-19 losses
Next year could be one of Beazley’s strongest for more than a decade, the Lloyd’s of London insurer’s chief executive said on Tuesday, with the industry likely having already absorbed the bulk of its losses from the coronavirus pandemic.
Lockdowns 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
Hamilton 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).
Saudi Re inks reinsurance contracts with Probitas, GWPs estimated at SAR 177 mln
The company added that the gross written premium (GWP) is estimated at SAR 177 million, highlighting that the contracts will have a positive impact on boosting GWP and the financial impact will be reflected from FY 2021.
Hippo Insurance raises a fresh $350M
Insurtech unicorn Hippo closed a $350 million round to help it expand into more of the U.S. The money will be used to roll out in new states, helping Hippo get to its goal of reaching 95 percent of U.S. homeowners in the next year.
German insurers in ‘final stages’ of credit backstop extension talks
German insurers are in the final stages of negotiating a six-month extension to a COVID-19 credit insurance backstop with the German government.
DIFC Signs Agreement with leading Israeli Bank - Bank Hapoalim
Dubai International Financial Centre (DIFC) has entered into an agreement with Bank Hapoalim, one of Israel’s largest banks.
UAE’s new foreign ownership law has what it takes to drive new business, investments
Changes to Commercial Companies Law can also lift stock markets with 70% rule
IAG and EQC settle costs from Canterbury earthquake claims
Earlier this month, IAG welcomed an announcement from the Earthquake Commission (EQC) and Insurance Council of New Zealand (ICNZ) outlining changes designed to make natural disaster insurance claims more streamlined for customers.
EG: More than 50% of workers say working from home has negatively impacted their mental health
The results of the EG mental health survey launched in September 2020 underlines the importance of the office and the return to the workplace for individual wellbeing.