Canada’s property/casualty insurance industry thus far has fared better than its life counterpart amid the economic and market dynamics created by the COVID-19 pandemic, according to an AM Best report. In its Best’s Market Segment Report, titled, “COVID-19 Taking Its …
Despite the global reinsurance sector’s “robust capital position” and “very high rate rises,” which are expected to “carry on for the remainder of year, and continue for major renewals in 2021,” S&P Global Rating’s credit outlook for the sector will …
Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price increases became necessary after 10-plus …
Ratings agency AM Best says its continued stable outlook on the global reinsurance industry reflects negative market forces largely driven by the COVID-19 pandemic, social inflation and previous years’ property catastrophe events that are being offset by positive forces of …
While COVID-19 losses are large and significant for the insurance sector, they are an earnings’ event, rather than a capital event, according to report issued by Hyperion X, the data and analytics division of Hyperion Insurance Group. In its second …
U.S. property/casualty insurance underwriting income dropped 5.5 percent in the first half of 2020 versus the same period last year. Higher underwriting expenses and policyholder dividends largely connected to COVID-19 costs are to blame, according to an A.M. Best report. …
Mergers and acquisitions (M&A) in the global insurance industry rose in the first half of 2020 with 201 completed deals worldwide, up from 197 in the second half of 2019, according to Clyde & Co’s “Insurance Growth Report” mid-year update. …
Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters fear the coronavirus pandemic will lead to hefty litigation claims. Premiums for directors’ liability insurance, known as D&O, in Britain …
Like the rest of us, the world’s finance industry is still wrestling with the huge uncertainty of a pandemic that doesn’t yet have an end. The sector’s reputation took a battering after the financial crisis, and it’s too early to …
South Africa’s financial watchdog is consulting with lawyers and the insurance industry on a potential test case to clarify whether insurers should pay rejected claims from firms hit by the impact of the coronavirus, it told Reuters on Thursday. Several …
