Hiscox has predicted its exposure to business interruption claims from Covid-19 could range from £10m to £250m net of reinsurance.
Hiscox has raised roughly £375m through sales of shares, having announced its intention to raise on Tuesday afternoon.
Hiscox has announced an equity placing for up to just under a fifth (19.99%) of its issued share capital.
The British Insurance Brokers’ Association has made six board changes across its smaller brokers, larger brokers, MGA and networks advisory groups, its standards council and an internal appointment.
As part of the Inclusion at Lloyd’s programme six partner networks have been set up to help bolster diversity and inclusion in insurance. Before the lockdown, Post gathered representatives from some of the networks together to find out what progress has…
The value of the Aon and Willis Towers Watson merger has “ironically” been reinforced by the impact of the coronavirus pandemic, Aon CEO Greg Case said on Friday.
Making global pay cuts was a “collective” decision that staff have “embraced” since a Monday announcement, according to Aon CEO Greg Case.
Willis Towers Watson CEO John Haley said the group could see double-digit revenue decline as a result of the coronavirus impact, as the risk giant yesterday pulled its profit guidance for the year.
Aon’s announcement that it would reduce 70% of its employees’ salaries led to some speculation that soon-to-be acquired Willis Towers Watson and rival Marsh might swiftly follow, but both brokers have since confirmed they will not follow Aon’s lead.
Lancashire has predicted it faces $35m in first-quarter losses rated to the pandemic, stemming predominantly from business interruption claims in its property book.
Jefferies has revised the probability of Beazley raising equity up to 40%, citing feedback from investors that, were the insurer considering the option, it should come “now or never”.
Markel yesterday confirmed its event cancellation book includes Wimbledon and the Olympics, while it will also pay out on some UK business interruption claims.
Insurers are adapting to deal with coronavirus-related insolvencies, as brokers call for compassion and support for businesses at a difficult time.
Be Wiser Insurance has appointed RWA founder Robin Wood and Das UK chairman Neil MacMillan to its board, Post can reveal.
Markel has posted a $1.4bn (£1.13bn) loss for the first quarter of 2020 blaming “significant volatility in the equity markets” due to the coronavirus pandemic.
Hiscox has this morning confirmed it is considering raising equity among other options as it seeks to combat the Covid-19 impact.
Crawford president and global CEO Harsha Agadi will step down next month, with his successors chosen from within the company.
In an ever-changing insurance landscape, brokers play an important role in identifying risks. For brokers, ensuring they ask their customers' the right questions will help them understand what risks they face and offer better support.
Aon will cut the pay of 70% of its staff and slice executive pay packets as it seeks to preserve jobs during the coronavirus pandemic, but the broking giant’s decision to go ahead with a May dividend payment seems at odds with its message.
Admiral confirmed it will recommend a final dividend for the year to shareholders, as it suspended a special dividend.
Gary Hoffman, Hastings non-executive chair, will step down from the company next month.
Beazley has reported a $170m (£137.7m) impact from Covid-19 related claims while Chubb took $13m of pre-tax $13m losses in the first quarter of the year.
Axa XL has revealed changes to its leadership team, with UK legal entities CEO Paul Greensmith departing and further ‘reorganisation’ expected.
QBE is seeking to raise $825m (£655m) in light of the Covid-19 crisis split across a $750m placement with institutional investors and a $75m share purchase plan for eligible shareholders.