Argo Group to Pay $900,000 to SEC for Failing to Fully Disclose CEO Perks June 5, 2020 By L.S. Howard Argo Group International Holdings will pay $900,000 to the Securities and Exchange Commission for failing to fully disclose perks and...
UK Government Forms £10 Billion Reinsurance Backstop for Trade Credit Insurers June 4, 2020 By L.S. Howard The UK government has created a £10 billion (US$12.5 billion) reinsurance scheme designed to help businesses during the COVID-19 pandemic...
SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis May 26, 2020 By L.S. Howard French reinsurer SCOR announced that its Chairman & CEO Denis Kessler will receive 30% less in his annual variable compensation...
Update: Generali 1st Quarter Net Profit Plunges 84.8% on COVID-19 Investment Hit May 21, 2020 By L.S. Howard Generali’s first quarter net profit plunged 84.8% to €113 million (US$124 million) from €744 million (US$815.5 million) reported in Q1...
Activist Shareholder Urges Watford Holdings to Sell Itself, or Be Put Into Runoff May 20, 2020 By L.S. Howard Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the re/insurer to sell itself or...
For Third Point Re, COVID-19 Crisis Hurts, but It Celebrates 1st Underwriting Profit May 20, 2020 By L.S. Howard Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment...
Insurer Beazley Raises $300M to Strengthen Balance Sheet on COVID-19 Uncertainties May 19, 2020 By L.S. Howard Beazley, the Lloyd’s specialist insurer, announced it raised £247 million (approximately $300 million) in capital via an equity placement designed...
Zurich Insurance Estimates Coronavirus Pandemic Claims to Hit $750 Million for 2020 May 14, 2020 By L.S. Howard Zurich Insurance estimates that the overall property and casualty (P&C) claims from the COVID-19 pandemic will be in the region...
Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks May 14, 2020 By L.S. Howard Lloyd’s of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result...
UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance May 13, 2020 By L.S. Howard The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit...