Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event cancellations and business interruption policies, with the impact …
Zurich Insurance Group said it will be taking further, deeper steps to help curb carbon emissions in line with the Paris Agreement’s goals to limit global warming. Targets will include its own internal operations, companies it invests in and businesses …
Insured losses from Australia’s March floods are expected to hit general (or property/casualty) insurers’ underwriting margins and earnings in 2021, while putting more upward pressure on reinsurance rates, according to a report from AM Best. The floods, expected to be …
Hong Kong is expected to have its own blank check company listing framework ready in June for public feedback and targets allowing deals to start by the end of this year, according to people familiar with the matter. The city …
The blockage of the Suez Canal for nearly a week will result in a “large loss” for Lloyd’s of London, its chairman said on Wednesday, as the insurance market recorded a 900 million pound ($1.2 billion) pretax loss in 2020 …
ISMAILIA, Egypt – Formal investigations into how the giant container ship Ever Given ran aground in the Suez Canal, shutting down shipping in the major global waterway for almost a week, begin on Wednesday, a canal official told Reuters. The …
LONDON – The City of London financial center, which has resembled a ghost town since the coronavirus swept the world last year, is likely to see most workers return to their offices after the pandemic, the City’s political leader said …
Aon announced it is closing operations and taking a global holiday on April 1st and April 2nd. These two days are intended to provide “colleagues extra time away to express appreciation for them during this unprecedented time,” said Aon in …
The Suez Canal may be open again, but the battle over damages from the waterway’s longest closure in almost half a century is just beginning. With cargoes delayed for weeks if not months, the blockage could unleash a flood of …
Natural and man-made catastrophes cost the insurance industry US$89 billion in 2020, in the fifth costliest year since 1970, according to a report from Swiss Re’s sigma. Of that total, US$81 billion related to claims from natural catastrophes, with the …
