P/C Insurers Improved Profitability in Year of Coronavirus: AM Best March 12, 2021 Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in...
Insurer Sanlam Braces for More Virus Waves in South Africa March 12, 2021 By Roxanne Henderson South Africa may still be short of the halfway mark of the pandemic even after two distinct waves of the...
Insurers Face Disputes with Their Reinsurers over UK COVID-19 Business Income Claims March 11, 2021 By Carolyn Cohn and Kirstin Ridley Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for...
Italy’s Generali Expects to Hit 2021 Targets After Reporting ‘Excellent’ Results in 2020 March 11, 2021 By Gianluca Semeraro MILAN – Generali is confident it can hit its targets this year after Italy’s biggest insurer overcame a negative impact...
Total Pandemic Losses for P/C Insurers Will Take Years to Determine: Fitch March 10, 2021 By Fitch Ratings Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the...
Insurer Aviva Seeks New London Headquarters to Cut Post-Pandemic Office Footprint March 5, 2021 By Jack Sidders and Benjamin Robertson Aviva Plc is searching for a new City of London headquarters as the UK insurer prepares to slash its office...
Insurers Don’t Have Capacity to Handle Systemic Pandemic Risk: Generali CEO March 4, 2021 MILAN – Europe’s insurance industry doesn’t have the capacity to deal with the systemic risk of a pandemic and more...
Hiscox Cites Loss on COVID, BI Dispute ‘Brand Damage’; Will Alter Liability, Cyber Books March 3, 2021 By Muvija M British insurer Hiscox reported a big loss for 2020 after a jump in claims from businesses disrupted by the COVID-19...
Lloyd’s Plans to Re-Open Underwriting Room on May 17 March 1, 2021 Lloyd’s announced on Friday, Feb. 26 that it plans to re-open its London underwriting room and corporation offices on May...
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B February 25, 2021 Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29...