AXIS Capital Holdings Ltd. announced an estimated net claims provision of $300 million, pre-tax, for the first quarter related to catastrophe and other weather-related events. This amount includes estimated pre-tax claims of $235 million for the COVID-19 pandemic. The company’s …
Aon announced it will temporarily cut the pay by 50% of the company’s named executive officers in response to the COVID-19 crisis. In addition, 70% of its global workforce will see a 20% reduction in their salaries, while approximately 30% …
Insurers need to pay out on more claims related to the coronavirus pandemic, according to the head of the UK parliamentary committee that oversees the financial industry. “We are concerned that the insurance sector goes the extra mile in meeting …
Italy’s top insurer, Assicurazioni Generali, said on Saturday it was confident of being able to rebuff a potential takeover bid, thanks to a “solid” group of core domestic shareholders and a strong capital and financial position. In answers to investors …
British insurers are on the hook for more than 1.2 billion pounds ($1.5 billion) in claims from businesses and individuals hit by the coronavirus pandemic, according to the industry’s trade body. Initial estimates put payments for business interruption at 900 …
Chubb Chairman and CEO Evan Greenberg insists his global P/C insurer has strong fundamentals, but warned at the same time that the ongoing pandemic crisis will spur unpredictable revenue challenges affecting many lines of coverage. Broadly speaking, the insurer will …
The 64th Rendez-Vous de Septembre (RVS) in Monaco, which was scheduled to be held Sept. 12-17, has been cancelled due to the uncertainties linked to the coronavirus pandemic. For 63 years, the RVS has brought together leading players in the …
Two consumer groups said on Thursday that some of the largest U.S. auto insurers, including billionaire Warren Buffett’s Geico Corp., are short-changing customers on premium rebates as Americans drive less due to stay-at-home orders aimed at curbing the coronavirus outbreak. …
Everest Re Group estimated pre-tax losses of $150 million during the first quarter from claims related to the coronavirus pandemic. The company expects that the majority of pandemic losses will come from the Reinsurance Segment, although both its reinsurance and …
Ping An Insurance (Group) Co of China Ltd, on Thursday reported a 42.7% drop in first-quarter profit, its biggest fall in quarterly profits in more than eight years, as the coronavirus outbreak disrupted its businesses. Ping An, the country’s largest …
