Brokers with cyber expertise ‘have competitive edge’
17 August 2020
Almost half of cyber insurance policies for UK SMEs were distributed by brokers last year, indicating a big opportunity in this sphere going forward, GlobalData says...
International
Talanx takes ‘substantial’ virus hit; Hannover Re CFO to retire
17 August 2020
German insurer Talanx says the coronavirus pandemic has cost it €824 million in the first half, while bushfires in NSW cost it €40 million...
Asia’s July monsoon flood bill in tens of billions
10 August 2020
July monsoon flood damage in Asia topped $US20 billion, with China, Japan and India hardest hit, while in the US record heat fuelled thunderstorms and a minimal billion-dollar insurance bill, Aon’s latest Global Catastrophe Recap says...
Munich Re books 42% dive in Q2 as pandemic losses mount
10 August 2020
Munich Re has posted a steep 42% plunge in second-quarter net income to €579 million from a year earlier, as virus-related claims took a toll on the business...
Allianz first-half profit declines 29%
10 August 2020
Allianz first-half earnings fell 28.8% to €2.9 billion as the COVID-19 pandemic hit its property and casualty businesses...
AIG in the red as pandemic, US unrest rock earnings
10 August 2020
AIG says the impacts from COVID-19 “remain manageable” despite estimated losses of $US458 million from the pandemic in the second quarter...
Berkshire makes huge COVID provisions for commercial, reinsurance arms
10 August 2020
US conglomerate Berkshire Hathaway has made huge provisions for potential losses and claims from the pandemic, denting the underwriting results of its commercial insurance and reinsurance business for the second quarter...
Intangibles a ‘major blind spot’ in risk models
10 August 2020
Reputation, human capital, intellectual property and other “intangible” assets are becoming the dominant driver of value in most industries and are a major blind spot for firms not factoring this into their risk models, Lloyd’s says...
UK test case judgment possible by mid next month
03 August 2020
The UK High Court’s business interruption test case judgment could be delivered next month after hearings concluded last week...
Industry gears up for annual Dive In
03 August 2020
Registration has opened for next month’s Dive In festival, which will have over 90 diversity and inclusion events hosted in more than 30 countries including Australia...
Lloyd’s acts to close gender gap in leadership positions
03 August 2020
Insurers and brokers operating in the Lloyd’s market have been told they must have at least 35% of leadership roles filled by females by the end of 2023...
First quarter global M&A drops 30%
03 August 2020
The spread of coronavirus took its toll on first quarter global mergers and acquisitions, and the second quarter likely saw even weaker activity as the full impact of lockdowns on deal appetite becomes clearer...
COVID-19 pushes Swiss Re into first-half loss
03 August 2020
Swiss Re has reported a first-half net income loss of $US1.1 billion after booking $US2.5 billion in claims and reserves related to the coronavirus pandemic...
Aon reports rise in Q2 income as expenses decline
03 August 2020
Aon has posted a 44% rise in net income to $US398 million for the second quarter from a year earlier, aided by a sharp decline in expenses that cushioned the impact of weaker revenues...
WTW expects ongoing virus impact
03 August 2020
Willis Towers Watson says the coronavirus pandemic will cause it pain for the rest of the year at least...
Hardening rates raise Gallagher’s earnings
03 August 2020
Global broker Gallagher has recorded a 36% rise in second quarter net earnings to $US161.8 million from a year earlier, fuelled partially from hardening property and casualty rates...
Chubb reports loss after tough quarter
03 August 2020
Chubb has reported a second-quarter loss of $US331 million due mainly to coronavirus-related losses flagged last month...
2020 catastrophe bond issuance already up 20%
03 August 2020
Global catastrophe bond issuance has surged after contracting last year, a new update on insurance linked securities activity from Aon finds...
Hospitality group takes aim at insurers in UK test case
27 July 2020
The Hospitality Insurance Group Action has argued its case against insurers including QBE as a business interruption test case continues in the UK High Court...
Bushfires, North America storms contribute to first-half perils bill
27 July 2020
Last summer’s devastating Australian bushfire season and severe weather events in North America led to about $US68 billion in overall natural disaster losses for the first-half of the year, according to Munich Re...