CHENNAI, India – Automakers Renault, its alliance partner Nissan Motor Co. and Hyundai Motor Co. face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 infections. Workers at Renault-Nissan’s car plant in the southern …
LONDON – When much of the global economy locked down last year, insurers, facing estimated losses of more than $100 billion globally, reached straight for their red pens to strike pandemic cover from all new business policies. Denis Kessler, chairman …
Bermuda-based Argo Group International Holdings Ltd. announced estimated catastrophe losses of approximately $47 million for the first quarter of 2021. Argo expects to report Q1 natural catastrophe losses of approximately $43 million, primarily related to Winter Storm Uri. Approximately half …
The cost of a comprehensive car insurance policy in Britain slumped 14% in the first quarter of 2021, to their lowest level since 2015, as different phases of lockdowns in the country kept motorists off the streets, a survey showed. …
Bermuda-based Everest Re Group Ltd. estimates pre-tax catastrophe losses for the first quarter of $260 million. Breaking down that total, Everest said the Texas winter storms will cost $250 million, while Australia’s New South Wales floods will cost $10 million. …
Despite considerable operating challenges in 2020 from the global COVID-19 pandemic, U.S. property/casualty (P/C) insurers saw a statutory underwriting profit for the third consecutive year, with an average 99% combined ratio, according to Fitch Ratings in a new report. In …
AM Best is maintaining a negative market segment outlook on the United Kingdom non-life insurance segment, citing economic uncertainty as a key headwind for UK non-life insurers. In addition, COVID-19-related lockdown measures coincided with the country’s exit from the European …
In the early months of the pandemic last year, brokers just couldn’t place insurance for the entertainment industry. In late February 2020, underwriters began excluding communicable disease from all of the underlying production insurance policies. No insurer wanted to touch …
Pandemic-related losses in 2020 were substantial for London market insurers and offset most underwriting and investment returns, according to a report published by Fitch Ratings. The main drivers of losses were event cancellations and business interruption policies, with the impact …
The organizers of the reinsurance Rendez-Vous de Septembre (RVS) have decided to cancel this year’s conference as a result of the ongoing public health crisis caused by the pandemic. “The pandemic is ongoing, but there is hope that the health …
