Zurich has predicted a $750m (£614m) property and casualty hit over the course of the year due to the coronavirus pandemic.
Ageas’ UK operations suffered a £23.5m hit from storms Dennis and Ciara, which drove it into a loss after tax of £2.7m for the first quarter of 2020.
Covéa has scrapped its $9bn (£7.3bn) buy of Bermuda-based global reinsurer Partner Re from the Ferrari-owning Agnelli family’s holding company Exor less than two years after if failed to takeover reinsurer Scor.
Allianz could see a €1bn (£882m) or more hit from the coronavirus pandemic across property and casualty, Allianz group chief financial officer Giulio Terzariol has cautioned.
Allianz Holdings, comprising of LV General Insurance and Allianz Insurance, saw £68m in claims relating to storms and flooding in the first quarter of 2020 as Allianz unveiled a global property and casualty €400m (£351m) Covid-19 hit.
Aon agreed to dispose of business and assets up to a cap of $1.8bn (£1.5bn) in 2019 revenues to satisfy competition regulators or else pay a $1bn fee to Willis Towers Watson in order to get its takeover of the rival broker across the line, filings with…
This month we put the insurance industry under the microscope - looking into how much progress the Lloyd's market has made to bolster diversity and inclusion in the sector, the efforts taken to pay out business interruption claims and the industry's…
Insurer RSA has revealed it has received approximately 25,000 Covid-19 related claims, which will cost it an estimated £25m net of reinsurance.
Motor claims notifications fell 70% at insurer Direct Line Group in April compared to the same month in 2019, as drivers stayed indoors due to lockdown measures.
Direct Line Group CEO Penny James has said 99.5% of its business interruption customers have standard policies and the insurer believes the wording is “robust” enough that it will not be liable for coronavirus-related pay outs on these.
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.