COVID-19 pushes Swiss Re into first-half loss
03 August 2020
Swiss Re has reported a first-half net income loss of $US1.1 billion after booking $US2.5 billion in claims and reserves related to the coronavirus pandemic...
International
Aon reports rise in Q2 income as expenses decline
03 August 2020
Aon has posted a 44% rise in net income to $US398 million for the second quarter from a year earlier, aided by a sharp decline in expenses that cushioned the impact of weaker revenues...
WTW expects ongoing virus impact
03 August 2020
Willis Towers Watson says the coronavirus pandemic will cause it pain for the rest of the year at least...
Hardening rates raise Gallagher’s earnings
03 August 2020
Global broker Gallagher has recorded a 36% rise in second quarter net earnings to $US161.8 million from a year earlier, fuelled partially from hardening property and casualty rates...
Chubb reports loss after tough quarter
03 August 2020
Chubb has reported a second-quarter loss of $US331 million due mainly to coronavirus-related losses flagged last month...
2020 catastrophe bond issuance already up 20%
03 August 2020
Global catastrophe bond issuance has surged after contracting last year, a new update on insurance linked securities activity from Aon finds...
Hospitality group takes aim at insurers in UK test case
27 July 2020
The Hospitality Insurance Group Action has argued its case against insurers including QBE as a business interruption test case continues in the UK High Court...
Bushfires, North America storms contribute to first-half perils bill
27 July 2020
Last summer’s devastating Australian bushfire season and severe weather events in North America led to about $US68 billion in overall natural disaster losses for the first-half of the year, according to Munich Re...
Overhaul cyber insurance wording to get on the same page
27 July 2020
The pandemic has underscored the importance of clear and consistent cyber policy wording, according to a new research paper...
New Lloyd’s syndicate to insure COVID-19 vaccine shipments
27 July 2020
Lloyd’s has approved a new syndicate to offer insurance for the storage and transportation of COVID-19 vaccine to emerging economies when it becomes available...
Pandemic seen as an opportunity to reinvent operations
27 July 2020
Every business needs to accept new ways of operating after COVID-19, creating “tremendous opportunity” for transformation at businesses which are prepared and act astutely, according to a leading US risk management expert...
UK business interruption test court case begins
20 July 2020
The UK business interruption test case starts in the High Court in London today with the Financial Conduct Authority taking the side of policyholders in opening submissions...
Investors see insurance as attractive amid COVID chaos
20 July 2020
Institutional investors in search of better returns are looking to park more of their funds in the insurance industry, according to an AM Best report, citing the recent capital-raising actions made by QBE and other major insurers such as StarStone Insurance...
Pandemic tosses up new pressures for reinsurers
20 July 2020
The reinsurance sector is facing “a whole new layer of uncertainty” created by the pandemic, Aon says in its latest June/July market outlook...
Parametrics ‘an answer for pandemics’
20 July 2020
Verisk’s Property Claim Services business says the COVID-19 outbreak should be approached as an opportunity to develop parametric insurance arrangements for future pandemics...
S&P warns of heightened risks from coronavirus second wave
20 July 2020
A COVID-19 second wave could eat into insurers’ capital and increase risks from rising claims, S&P Global says...
Shipping industry faces ‘unprecedented risks’ from pandemic
20 July 2020
The global shipping industry faces several potential knock-on effects from the pandemic, an annual review from Allianz Global Corporate and Specialty has warned...
Insurance will outperform with V-shaped recovery: Swiss Re
13 July 2020
Global insurance premium volumes will recover to pre COVID-19 crisis levels next year, underpinned by a strong rebound in China and other emerging economies, Swiss Re says...
UK action on loyalty penalties 'benefitting millions'
13 July 2020
UK insurers and brokers say industry action to prevent loyal customers being disadvantaged by renewal pricing increases is delivering improved results for long-term policyholders...
Chubb wants government-backed BI 'before the next pandemic'
13 July 2020
Global insurer Chubb wants a business interruption facility backed by US Government reinsurance that would be similar to terrorism measures introduced after the 9/11 attacks...