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International

Asia’s July monsoon flood bill in tens of billions

10 August 2020

July monsoon flood damage in Asia topped $US20 billion, with China, Japan and India hardest hit, while in the US record heat fuelled thunderstorms and a minimal billion-dollar insurance bill, Aon’s latest Global Catastrophe Recap says...

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Munich Re books 42% dive in Q2 as pandemic losses mount

10 August 2020

Munich Re has posted a steep 42% plunge in second-quarter net income to €579 million from a year earlier, as virus-related claims took a toll on the business...

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Allianz first-half profit declines 29%

10 August 2020

Allianz first-half earnings fell 28.8% to €2.9 billion as the COVID-19 pandemic hit its property and casualty businesses...

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AIG in the red as pandemic, US unrest rock earnings

10 August 2020

AIG says the impacts from COVID-19 “remain manageable” despite estimated losses of $US458 million from the pandemic in the second quarter...

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Berkshire makes huge COVID provisions for commercial, reinsurance arms

10 August 2020

US conglomerate Berkshire Hathaway has made huge provisions for potential losses and claims from the pandemic, denting the underwriting results of its commercial insurance and reinsurance business for the second quarter...

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Intangibles a ‘major blind spot’ in risk models

10 August 2020

Reputation, human capital, intellectual property and other “intangible” assets are becoming the dominant driver of value in most industries and are a major blind spot for firms not factoring this into their risk models, Lloyd’s says...

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