For Third Point Re, COVID-19 Crisis Hurts, but It Celebrates 1st Underwriting Profit May 20, 2020 By L.S. Howard Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment...
Insurer Beazley Raises $300M to Strengthen Balance Sheet on COVID-19 Uncertainties May 19, 2020 By L.S. Howard Beazley, the Lloyd’s specialist insurer, announced it raised £247 million (approximately $300 million) in capital via an equity placement designed...
Zurich Insurance Estimates Coronavirus Pandemic Claims to Hit $750 Million for 2020 May 14, 2020 By L.S. Howard Zurich Insurance estimates that the overall property and casualty (P&C) claims from the COVID-19 pandemic will be in the region...
Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks May 14, 2020 By L.S. Howard Lloyd’s of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result...
UK Government to Create Temporary Reinsurance Backstop for Trade Credit Insurance May 13, 2020 By L.S. Howard The UK Treasury announced it is creating a government-backed temporary reinsurance scheme so businesses can continue to access trade credit...
Hiscox Raises £375M to Respond to U.S. Wholesale, Reinsurance Growth Opportunities May 6, 2020 By L.S. Howard Lloyd’s insurer Hiscox has successfully raised capital of approximately £375 million (US$465 million) as a result of an equity placement...
Hiscox to Raise Capital in Response to COVID-19 Growth Opportunities and Exposures May 5, 2020 By L.S. Howard Lloyd’s insurer Hiscox is planning a capital raise via the placement of new ordinary shares, which will enable the company...
Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties May 4, 2020 By L.S. Howard Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the...
Hiscox Action Group Gears Up to Take Hiscox to Court over COVID-19 BI Exclusions April 29, 2020 By L.S. Howard Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox’s pandemic exclusions to its commercial business...
Aon Executives, 70% of Employees Taking Pay Cuts Amid Coronavirus Uncertainties April 27, 2020 By L.S. Howard Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the...