Articles by Benjamin Robertson and Lucca de Paoli

Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday

Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is set to rule Tuesday in a case involving about 370,000 policyholders, companies including Zurich Insurance Group AG and Hiscox Ltd. …

Update: COVID-19 Business Interruption Claims Take Center Stage in London Court Case

UK financial regulators took aim at insurers’ attempts to compare the coronavirus lockdown to government warnings on cigarettes and alcohol, telling a London court that businesses had no choice but to shut down during the pandemic. The clash took place …

UK Insurers Cite Swedish Example in Bid to Dodge Coronavirus Biz Income Payouts

Insurers are set to argue against paying out fully on claims made by businesses forced to shut because of the pandemic, saying that shops in Sweden lost money even without a strict lockdown. The strategy was raised at the first …

Global Insurers Pulled into Epicenter of COVID-19 Crisis, Firmly in Uncharted Territory

Roger Federer and Rafael Nadal locked in spell-binding battle. Paul McCartney sharing a stage with Kendrick Lamar and Taylor Swift. The long-awaited 32nd Olympic Games. The list of canned crowd-thrillers that were planned for the coming weeks isn’t just bad …

AXA Plans to Form $156B Asset Management Unit, Catering to Alternative Assets

AXA SA plans to create a 137 billion-euro ($156 billion) asset-management unit to cater to the growing demand for real estate and other alternative assets. The French insurer will divide its asset-management business in two units: alternatives under Isabelle Scemama …

Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions

Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The world’s largest insurers have learned lessons from previous health crises, …

Markets Are Overreacting to Threat of Coronavirus: Allianz CEO Baete

Markets are overreacting to the threat of the rapidly spreading coronavirus and the global economy will only see a short-term impact, said the head of Allianz SE, Europe’s biggest insurer. Chief Executive Officer Oliver Baete said the firm was more …

Aviva to Retain China, Singapore Businesses After Conducting Asian Review

Aviva Plc, the U.K. insurer that’s overhauling some businesses as part of its chief executive officer’s turnaround plan, is to retain its Chinese joint venture as well as assets in its biggest market, Singapore. The firm will continue to explore …

Mad Cow Disease Confirmed on UK Farm – First Case Since 2015

Mad cow disease has been found on a U.K. farm for the first time since 2015, raising concern that some countries may move to limit imports of British beef. The disease, also known as bovine spongiform encephalopathy or BSE, was …