AIG
Top 30 European Insurers 2020: A year of profit
The top 30 European insurers saw growth in non-life premiums in 2019 and overall profit after tax was significantly higher than in 2018. Mathilde Jakobsen, director, analytics, AM Best, explains what the market is facing
Analysis: Beirut blast – cost of humanitarian crisis could top $10bn
The explosion in Beirut, Lebanon at around 6pm local time on Tuesday 4 August tragically killed at least 157 people and wounded another 5000, with more than a hundred still missing as rescue efforts continue.
AIG adds $458m of Covid-19 losses in Q2
AIG reported an underwriting loss of $343m (£262.8m) for general insurance business in the second quarter of 2020.
Insurance Covid-cast: Grumpy old insurance execs - Bunker, Cooter, Hanks and Smith on trading through a hard market
For the 36th episode of Post and Insurance Age’s Covid-Cast video series we gathered together an esteemed panel of ‘grumpy old insurance execs’ to talk about how to trade through a hard market, something many might have not experienced before.
Virtual Roundtable: Has Covid-19 helped speed up the digitalisation of insurance customer communications?’
Post gathered a group of experts together for an interactive digital roundtable at which we discussed how insurers and their partners can maximise satisfaction, despite policyholders being in lockdown; and build long-standing relationships that will…
Analysis: The Covid crunch in insurer results
With analysts cautioning the Covid crunch will begin to bite insurers in the second quarter of 2020, Post investigates what impact the coronavirus pandemic has already had in the first quarter
Drop all fossil fuels urges climate change campaign group
Insurers must stop 'protecting' the coal industry and start protecting society claimed a climate change group as it urged the sector to drop all fossil fuels.
Ex-Zurich boss Dave Smith takes NED role at AIG UK
Former Zurich UK general insurance CEO Dave Smith has joined AIG UK as a non-executive director and is set to become chair of the risk committee.
Briefing: Travel insurance – when is cancellation insurance not cancellation insurance?
A once-in-a-lifetime trip to Disneyland to treat the kids, an all-expenses paid honeymoon to Cancun and a retirement cruise around Europe – for many people the plans for these long-anticipated trips now lay in tatters but insurance isn’t offering the…
Briefing: Have insurers thrown brokers under the bus on BI?
There have always been points of conflict in the insurer and broker relationship but this week that reached a new low as RSA offered up Marsh as a human shield in its battle to avoid payment of business interruption claims for the Covid-19 pandemic.
Marsh bites back as RSA alleges it is on the hook for wording in FCA BI test case
Marsh has disputed RSA allegations its clients should be liable for brokered policy contract issues in the Financial Conduct Authority’s business interruption test case, as brokers were dragged into the ongoing proceedings.
Analysis: The wordings under the magnifying glass in the FCA's BI test case
As preparations continue for a July test case to determine whether business interruption policies cover coronavirus lockdown losses, Post delves into the “representative sample” of wordings on which the court will be adjudicating.
Insurance Monitor: Past, present and future: Lloyd's, legacies and leaving lockdown
In this month’s column, David Worsfold looks at insurance past, present and future in light of the pandemic and the recent Black Lives Matter protests.
Insurance role models named as top ethnic minority business leaders
The latest Empower Top 100 list includes 11 Black, Asian and minority ethnic leaders and future role models working in insurance.
LMG adds Atrium’s Harries to board replacing Paul Greensmith
The London Market Group has appointed Atrium CEO Richard Harries to its board replacing former UK CEO of Axa XL Paul Greensmith.
This week: Contra proferentem
No – it’s not a Harry Potter spell. This week the Financial Conduct Authority said it would whip out the ‘contra proferentem’ argument on behalf of policyholders in its business interruption test case against insurers.
Liberty Mutual and AIG donate to anti-racism charities in support of Black Lives Matter
Following tragic events of the recent weeks Liberty Mutual and AIG have pledged donations to help fight the injustice for black community.
Insurers come together for Black Lives Matter
The insurance industry has spoken out against racism and social injustice in light of the recent events.
Briefing: Business interruption insurance – reported ‘u-turns’ have yet to prove significant
Some insurers have now decided to pay up on business interruption policies, the regulator has said, but just how much of an impact do these 'u-turns' really have on the BI situation and consumer confidence?
Insurers and their associations slammed as 'missing in action' in face of climate risk
Exclusive: Despite some support of recovery plans for Covid-19 leading to a resilient, net-zero and inclusive economy, the sector has been criticised for a weak response to a coalition of non-governmental organisations' calls to support green and fair…
Zurich adds two to underwriting team
Zurich has appointed Ralph Brand and Chris Waterman to newly created jobs, as the insurer further simplifies its underwriting function.
AIG 58 Fenchurch Street fire claim against roofers and RSA gets go ahead
A judge has ruled in favour of AIG in its application to substitute the named claimant on its claim against roofers and RSA, allowing the property damage claim to go ahead.
Bought By Many to enter new markets after largest UK insurtech raise of $98m
Pet insurance specialist Bought By Many has secured $98m (£78.4m) in growth equity investment led by FTV Capital, having agreed terms sheets with the US growth equity investment firm and five other potential investors prior to Covid-19 lockdown.
Industry 'did not do enough' to prepare society for pandemic, must not fail on climate: Unfriend Coal
Having previously identified both pandemic risk and climate change as the world's "greatest threat," the insurance industry must champion a green and fair recovery from the Covid-19 crisis to help avert another emergency, NGOs have urged.