COVID Crisis Cuts Global Macro Resilience, Raises Insurance Protection Gap: Swiss Re June 16, 2021 By L.S. Howard The COVID-19 crisis reduced overall global macro resilience – or the ability of societies to absorb shocks – by 18%...
Intact Financial, Tryg Agree to Sell Danish Unit to Alm. Brand for Total of US$2.52 Billion June 14, 2021 By L.S. Howard Intact Financial Corp. and Tryg A/S have entered into an agreement to sell Codan Forsikring A/S’s Danish business to Alm....
SCOR and Covéa Lay Down Legal Swords in Return to ‘Mutually Beneficial Relationship’ June 11, 2021 By L.S. Howard French mutual insurer Covéa and reinsurer SCOR finally laid down their legal swords this week – opting instead for “peaceful...
AXA Offers €300M to Settle COVID-19-Related BI Claims for French Restaurant Owners June 10, 2021 By L.S. Howard AXA has offered a settlement to 15,000 French restaurant owners that purchased non-damage business interruption insurance after previously denying coverage...
Argo Group to Stop Insuring Canada’s Trans Mountain Pipeline, Joining Other Carriers June 7, 2021 By L.S. Howard Lloyd’s insurer Argo Group has decided to stop insuring Canada’s Trans Mountain tar sands pipeline when its current insurance policy...
World’s Largest Insurers ‘Failing’ to Address Climate Change, Biodiversity Loss June 3, 2021 By L.S. Howard Most of the world’s largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss,...
Climate Change Protesters Set Off Stink Bomb at Lloyd’s of London in Ongoing Activism June 2, 2021 By L.S. Howard Climate change protesters continued their focus on Lloyd’s as a major insurer of the fossil fuel industry by setting off...
Intact Financial Corp. and Tryg Complete Acquisition of UK’s RSA Insurance June 1, 2021 By L.S. Howard Intact Financial Corp. announced that, together with Tryg A/S, it has completed the acquisition of RSA Insurance Group plc., after...
French Regulator Dismisses Covéa Market Abuse Charges Filed Against SCOR’s Kessler May 28, 2021 By L.S. Howard France’s financial markets regulator dismissed market abuse charges, which had been filed against SCOR’s Chairman and CEO Denis Kessler by...
COVID Takes Big Bite from Multiline Insurers’ Earnings, in ‘Manageable’ Event: S&P May 28, 2021 By L.S. Howard The COVID-19 crisis cost 16 global multiline insurers about $8 billion in 2020, although they still reported substantial net profit...