Townsend named as Peiris replacement at Allianz
05 October 2020
Chris Townsend will join Allianz in January, taking on the Board of Management role in charge of Global Insurance Lines, the insurer announced last week...
International
Catastrophe bond market rebounds
05 October 2020
The catastrophe bond market returned to strong growth last financial year despite some impact from the COVID-19 outbreak, Aon Securities says in an annual review of insurance-linked securities...
Lloyd’s Parametrix BI targets SMEs
05 October 2020
Lloyd’s has launched a new business interruption policy which it says is the first off-the-shelf parametric IT downtime policy tailored towards SMEs...
FCA outlines ‘radical’ moves on premium pricing
28 September 2020
The UK Financial Conduct Authority expects new laws to ban pricing practices that disadvantage loyal customers will take effect next year as part of a proposed package of reforms...
Pandemic offers enterprise risk management warning
28 September 2020
The coronavirus pandemic has highlighted the need for insurers to review enterprise risk management frameworks and guard against complacency, AM Best has warned...
COVID tipped to boost UK comparison sites
28 September 2020
Price comparison websites will become even more popular in insurance as consumers look for savings wherever possible as economies enter recession amid the COVID-19 pandemic, GlobalData says...
Half of global GDP depends on biodiversity: Swiss Re
28 September 2020
Just over half of global GDP, equal to $US41.7 trillion, is dependent on high-functioning biodiversity and ecosystem services such as pollination and climate regulation, the Swiss Re Institute’s new Biodiversity and Ecosystem Services Index reveals...
Zurich sponsors reforestation project in Brazil
28 September 2020
Zurich will sponsor an eight-year reforestation project in Brazil to convert barren farmland back into native forest...
Swiss Re unveils structural streamlining plan
28 September 2020
Swiss Re has announced further changes to the legal entity structure of the group, with Swiss Reinsurance Company to be made the sole direct wholly owned operating subsidiary of the business...
UK regulator calls for insurers to respond to test case ruling
21 September 2020
The Financial Conduct Authority has urged UK insurers to consider steps they can take to progress business interruption claims following a High Court test case judgment that it says backed policyholders “on the majority of key issues”...
Hurricane Sally brings floods to US states
21 September 2020
Hurricane Sally is likely to cause significant losses for the US National Flood Insurance Program after dumping torrential rain over Alabama and the Florida Panhandle, AM Best says...
Aon-WTW chiefs hail a ‘once in a generation combination’
21 September 2020
The merger of Aon and Willis Towers Watson is a “once-in-a-generation combination” that will create an entity with the skills and resources to meet clients’ rapidly complex needs in a post-COVID world...
Pandemic prompts more insurers to collaborate with Big Tech
21 September 2020
The post-COVID landscape could see increased collaboration among insurers, insurtechs and Big Tech, Capgemini says in a new study...
Demand for reinsurance up a bit, Aon says
21 September 2020
Slight increases in demand are likely through January reinsurance renewals as insurers face heightened risk and volatility and pressure from rating agencies, Aon’s latest Reinsurance Market Outlook says...
Zurich adds climate change to its risk advice service
21 September 2020
Zurich has expanded its natural hazards risk advisory service to include climate change to help businesses better prepare and support customers to become more sustainable...
Mining losses ‘significantly reduced’ in 2020
21 September 2020
The property loss record for mining appears to be improving, Willis Towers Watson says, rebounding after a series of “disastrous losses” in the previous two years...
Swiss Re steps up its internal carbon levy
21 September 2020
Swiss Re has introduced a triple-digit internal carbon levy of $US100 per tonne of carbon dioxide to support transition to a low-carbon economy and net-zero emissions in its operations by 2030...
Moody’s cuts reinsurers’ outlook to negative
14 September 2020
Moody’s has cut the reinsurance sector outlook to negative from stable despite the best pricing environment in over a decade, as the industry faces low interest rates and uncertainty around ultimate pandemic-related losses...
UK industry braces for BI test case judgment
14 September 2020
The judgment on the UK’s COVID-19 business interruption test case should be handed down tomorrow...
Pandemic sends Lloyd’s into first-half loss
14 September 2020
Lloyd’s sank into a pre-tax loss of £438 million for the six months to June, as £2.4 billion in pandemic claims after reinsurance recoveries took a toll on earnings...