Chubb braces for indefinite earnings hit from virus pandemic
27 April 2020
Chubb has warned its future earnings would take an indefinite hit, as the COVID-19 pandemic drags the global economy into its worst slump since the 2008 financial crisis...
International
Talanx scraps profit guidance, keeps dividend promise
27 April 2020
German insurer Talanx has withdrawn the 2020 profit guidance it gave just a month ago, citing “considerable uncertainty around how the economic and capital markets environment will develop” due to the ongoing coronavirus pandemic...
Fitch affirms FM Global ratings
27 April 2020
Fitch has affirmed the Insurer Financial Strength ratings of FM Mutual and its affiliates at AA, which is defined as very strong, and the rating outlook is stable...
US tornadoes, storms run up huge damage bill
20 April 2020
Deadly tornadoes and severe storms that struck parts of the US in March caused billions of dollars in damage, Aon’s monthly Global Catastrophe Recap report says...
US car insurers return billions to customers
20 April 2020
Auto insurers in the US have voluntarily pledged more than $US10 billion to customers in the form of refunds or premium discounts...
Wimbledon's pandemic payout will stir new demand
20 April 2020
Pandemic insurance is poised to move from being a niche product to an essential one for sports and music organisers around the world, which will challenge insurers, London-based analytics company GlobalData says...
Skipped dividends 'won't hurt insurer credit ratings'
20 April 2020
A spate of dividend suspensions by insurers in response to the COVID-19 pandemic will not hurt their credit quality or ratings, S&P says...
Swiss Re donates millions to COVID-19 relief efforts
20 April 2020
Swiss Re Group will donate CHF 5 million to support people affected by the COVID-19 pandemic around the world, particularly in developing countries...
Energy review flags 'transformative effect' from climate change
20 April 2020
Climate change risk will have a "transformative effect" on the global energy sector, which is currently facing a number of short-term pressing issues including a collapse in demand amid the COVID-19 pandemic, according to a new update from Willis Towers Watson...
How US and UK insurers are helping customers
06 April 2020
Insurance companies and their representative organisations are working out ways to help their customers as communities around the world begin to experience the challenges of prolonged coronavirus control initiatives...
ABI flags pool solution for pandemic risks
06 April 2020
The Association of British Insurers has suggested reinsurance pools like those used for terrorism and earthquake risks could be part of solutions for protecting against future pandemic risks...
Chubb announces donation to pandemic relief
06 April 2020
Chubb has committed $US10 million to pandemic relief efforts and has pledged not to retrench employees while the crisis is ongoing...
Munich Re warns of 'considerable' earnings hit from virus pandemic
06 April 2020
Munich Re’s property and casualty arm has suffered a "considerable claims burden" in the first quarter because of the coronavirus pandemic, forcing the global reinsurer to withdraw its €2.8 billion profit guidance for this year...
Early reinsurance renewals avoid virus impact
06 April 2020
Reinsurance renewals in April were mostly fully placed before the impact of coronavirus escalated and without specific exclusionary language after buyers started negotiations well in advance, Willis Re says...
UK flood losses top $600 million after February storms
06 April 2020
Storms that swept through the UK in February have caused insurance property losses of £297 million, Swiss-based catastrophe data firm Perils says...
Back in the black, Lloyd's seeks input on virus losses
30 March 2020
Lloyd's has returned to profit after two straight years of losses, with the reversal attributed to the investment performance, rate increases and improved underwriting discipline...
UK travel insurers expect record payouts
30 March 2020
The Association of British Insurers estimates £275 million will be paid to UK customers by travel insurers in coronavirus-related claims, with the vast majority for cancellations...
Niche writers could suffer 'outsized losses' from virus claims: S&P
30 March 2020
Specialist or niche underwriters may be hit with "outsized losses" from increased claims linked to the coronavirus pandemic, S&P Global Ratings has warned...
Zurich rolls out new marine insurance platform
30 March 2020
Zurich Group is rolling out a new marine insurance product created for small and medium cargo after trials in four countries last year were successful...
Europe's Storm Sabine cost insurers at least $2.8 billion
30 March 2020
Insurers face claim losses of at least €1.5 billion from Sabine, the damaging windstorm that struck Europe last month, according to Swiss catastrophe data firm Perils...