War
Lloyd's reserves £1.1bn for Ukraine-related losses
Lloyd’s has set aside £1.1bn for losses arising from the conflict in Ukraine, around a quarter of the sum relating to expected aviation losses.
AIG and Lloyd's insurers reject case advanced by Aercap in $3.5bn claim
Insurers have rebuffed claims from aircraft leasing giant Aercap that it is owed either $3.5bn under its all risks policy or $1.2bn under its war risks policy for the dispossession of aircraft by Russian airlines earlier this year.
Intelligence: The fallout from Russia without love
On 24 February, Russia invaded Ukraine in a major escalation of the Russo-Ukrainian War that began in 2014. Edmund Tirbutt investigates how UK insurers have responded to the knock-on effect from the war, and the impact that this might have in the long…
Chinese ‘coercive quarantine’ fears over Taiwan prompt semiconductor and cyber concerns
Chinese pressure on Taiwan is likely to escalate to a “coercive quarantine” in the coming months, disrupting key international supply chains, according to Intelligence analyst Dragonfly.
Ascot to lead $50m Lloyd's facility to insure Ukrainian grain exports
Lloyd’s insurers led by Ascot have launched a facility that will provide up to $50m (£40.8m) of all risks marine cargo and war coverage for grain and food exports from Ukraine.
Aercap names AIG and Lloyd’s in $3.5bn lawsuit over planes seized by Russian airlines
Aircraft leasing giant Aercap has launched a $3.48bn (£2.93bn) lawsuit against its insurers as it seeks to recoup losses incurred by the seizure of 141 planes by Russian airlines following Russia’s invasion of Ukraine earlier this year.
QBE’s Chris Wallace on how to help companies manage supply chain risks
As supply chain disruption threatens calamity for businesses operating in sectors such as construction, retail, and food and drink, QBE’s executive director for UK insurance Chris Wallace, calls on insurers and their clients to work together to get a…
Blog: ESG to overtake CSR - is it time to parade our credentials in a better light?
ESG represents a terrific opportunity for the insurance ecosystem to showcase its credentials in a better way, and to build positive reputational gains, argues Rob Smale, non-executive director at E2E Total Loss Vehicle Management.
British Insurance Awards 2022: Major Loss Award: QuestGates – Hyperion Adjusters Division
Under extreme time pressure, Hyperion’s handling of the single largest loss in the global contingency market made them a clear winner in this category.
Editor’s comment: When the going gets tough
It’s fair to say we’ve had a tough few years. No one was upset to see the back of 2020 and 2021 wasn’t much better. And now it looks like 2022 is far from the stellar year we were hoping for – certainly for the insurance sector.
Watch Aviva, Policy Expert and others discuss how insurers ‘level up’ to respond to market challenges and the pressure to drive profitable growth at a lower cost
Climate change. Inflation. demanding consumers. regulation. M&A activity. Insurance looks nothing like it did a decade – or even five years ago.
Aviva wins TSB tender; Gallagher Re to recruit 40; Pine Walk Capital launches MGA; and Beazley launches Crypto Guard
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Intelligence: Insurers must brace now for the oncoming inflation storm
Inflation is front of mind for the general public – and that is no different for the insurance market. David Worsfold investigates how prepared the sector is for inflation rises and how they can make sure customers see insurance as a must-have instead of…
War and inflation to drive biggest commercial insurance shake-up since 9/11, says Mactavish's Carslaw
The commercial insurance market is heading for its biggest shake up in 20 years due to the knock-on effects of the war in Ukraine, inflation and other factors, Mactavish managing director Heidi Carslaw has said.
Aviva reports 13% spike in fraud; Accredited hails £2bn Policy Expert deal; Urban Jungle to recruit 100; and PRA warns insurers of ‘significant headwinds’ over climate change
For the record: Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Data Analysis: Q1 results round-up - Aviva, Beazley, Direct Line, Hastings, Hiscox, Lancashire and Sabre
Insurance Post rounds up the first tranche of quarter one results from a host of major insurers.
Lloyd’s stresses humanitarian response to Ukraine crisis as the aviation market faces complexity of the loss without 'precedent'
Chief of markets Patrick Tiernan called for sympathy for Ukraine in a “tragic situation with devastating human consequences” as he admitted aviation losses would take some time to resolve.
Trade credit insurers face 'elevated risk' from remaining trade with Russia, warns ratings agency
DBRS Morningstar has warned that trade credit insurers “should expect to deal with an inflow of credit default claims” as Russian buyers start missing payments as a result of the fallout of the war in Ukraine.
Insured value of aircraft facing seizure in Russia far lower than reported asset values, says Neal
The insured value of leased aircraft effectively impounded by Russian airlines is likely between 15% and 20% of the total asset values, Lloyd’s CEO John Neal has said.
Losses from 'major event' in Ukraine will take time to evaluate, says Neal as Lloyd's posts underwriting profit
The Russian invasion of Ukraine will be a major event for the insurance market but the losses will take a long time to evaluate, Lloyd’s CEO John Neal has said.
Briefing: Ukraine - A sensitivity reminder
Journalists aren’t widely known for being beacons of sensitivity – but sometimes even we can be shocked.
Ferma suspends Russian Risk Management Society's membership
The Federation of the European Risk Management Associations has suspended the membership of the Russian Risk Management Society in response to the invasion of Ukraine.
Allianz no longer writing new business in Russia
Allianz will no longer underwrite new business or make new investments in Russia, the insurer has said.
Insurance staff come together to support Ukraine refugees
From gearing up to take in refugees to delivering supplies, Post spoke to European insurance staff who are dedicating their time to helping those affected by the Ukraine crisis.