German reinsurance group Munich Re posted a 42% decline in second-quarter net profit, with around 700 million euros ($832 million) in losses related to the coronavirus pandemic in the period. The company, which had already announced preliminary earnings in July, …
AXA SA’s profit sank in the first half as it booked a 1.5 billion-euro ($1.8 billion) charge for claims related to COVID-19 and warned of further shocks from the pandemic. The French insurer saw net income fall 39% from the …
Insurers that do not treat customers fairly when calculating payouts for business interruption due to the coronavirus crisis will face action by Britain’s markets watchdog. The Financial Conduct Authority (FCA) has taken eight insurers to court over business interruption policy …
Bicycle insurance is not a popular product in the UK – but that could be about to change, said GlobalData, the London-based platform that provides data analytics and expert analysis about global industries. Less than 1% of UK consumers have …
South African small businesses fighting rejected coronavirus-related claims said insurers’ offers of relief are too little too late for many and could leave some already struggling to survive with nothing at all. Insurers around the world have argued COVID-19 lockdowns …
Insurers in the European Union are confronted with risks on several fronts that are intensified by the COVID-19 pandemic, and could face lengthy legal battles from claims relating to lockdowns, the bloc’s insurance watchdog said on Thursday. Insurers and reinsurers …
South African insurers are bowing to demands for the payment of losses that businesses suffered during the nation’s lockdown. Momentum Metropolitan Holdings Ltd.’s Guardrisk will make settlement payments to policyholders who submitted business-interruption claims for losses suffered when all but …
Florida’s state-run insurer Citizens Property Insurance Corp. will extend its moratorium on cancellations and nonrenewals until the end of 2020 despite saying earlier this month it would resume processing them on Aug. 15. The decision comes after Florida CFO Jimmy …
South Africa’s largest property and casualty insurer will pay as much as one billion rand ($60 million) in relief to clients with business-interruption cover hit financially by the coronavirus pandemic. Santam Ltd. will begin making relief payments next week, mainly …
British insurer Beazley swung to a loss for the first half on Thursday after setting aside $170 million for coronavirus-related claims, saying the fallout from the crisis would be similar to a major natural catastrophe. The Lloyd’s of London insurer …
