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...
Zurich 2020 Profit Drop of 8% Reflects Pandemic, Catastrophe Claims February 12, 2021 By Brenna Hughes Neghaiwi Zurich Insurance’s new capital target disappointed market expectations on Thursday, even as claims related to the COVID-19 pandemic and higher...
W.R. Berkley Reports Record Q4 Net Income January 28, 2021 W.R. Berkley Corp. generated record net income in its 2020 fourth-quarter and a healthy combined ratio, results that company attributed...
Everest Re Cites Social Inflation for $400M Prior-Year Reserve Charge January 27, 2021 By Susanne Sclafane Everest Re is the most recent insurance and reinsurance company to announce catastrophe and COVID losses in advance of fourth-quarter...
Insurers Winning Most, But Not All, COVID-19 Business Interruption Lawsuits November 30, 2020 By Jef Feeley and Katherine Chiglinsky In the multibillion-dollar fight over insurance coverage for pandemic-related business losses, a Florida gynecologist succeeded where more than a dozen...
P/C Insurers Face Workforce, Risk, Policy Challenges as Pandemic Continues November 9, 2020 Given that business-as-usual is unlikely to return soon due to the coronavirus pandemic, U.S. property/casualty insurers will continue to face...
What 3Q Catastrophe Losses Mean for U.S. P/C Results October 16, 2020 Driven by an elevated frequency of events during the quarter, third quarter natural catastrophe losses for the U.S. property/casualty insurance...
U.S. Pension Funds Sue Allianz After $4 Billion in Coronavirus Losses September 28, 2020 By Tom Sims Pension funds for truckers, teachers and subway workers have lodged lawsuits in the United States against Germany’s Allianz, one of...
Major UK Ruling on Business Insurance for COVID-19 Claims Expected Tuesday September 14, 2020 By Benjamin Robertson and Lucca de Paoli Insurers battered by coronavirus are about to find out how much worse the damage could get. A London court is...
Munich Re Expects Beirut Losses of €100 Million; Sees Slowdown in COVID-19 Losses September 8, 2020 By Stephan Kahl Munich Re said it faces claims of at least 100 million euros ($118 million) stemming from the deadly explosion that...