March 12, 2021
Despite the COVID-19 pandemic, the U.S. property/casualty (P/C) industry improved its overall profitability in 2020, with a 68% increase in net underwriting income and combined ratio that improved slightly over the previous year. These preliminary results are from a new …
March 12, 2021
South Africa may still be short of the halfway mark of the pandemic even after two distinct waves of the coronavirus swept through the country over the past year. “We are basically planning for two-and-a-half more waves,” Sanlam Ltd. Chief …
March 11, 2021
Top insurance companies, ordered by Britain’s highest court to pay thousands of small businesses millions of pounds in claims for COVID-19 disruption, are facing a battle with reinsurers over who should foot the bill, industry sources said. Bars, beauty parlors, …
March 11, 2021
MILAN – Generali is confident it can hit its targets this year after Italy’s biggest insurer overcame a negative impact from the coronavirus crisis in 2020 to deliver a record operating profit. Operating profit, which is closely watched by the …
March 10, 2021
Incurred pandemic losses for U.S. property/casualty insurers increased only modestly in fourth quarter of 2020 from earlier quarters in the year. Still, the amount of ultimate losses remains unclear and will take several years to determine in business interruption, general …
March 5, 2021
Aviva Plc is searching for a new City of London headquarters as the UK insurer prepares to slash its office footprint. The firm started looking for new offices in the financial district early last year, but shelved its plans once …
March 4, 2021
MILAN – Europe’s insurance industry doesn’t have the capacity to deal with the systemic risk of a pandemic and more protection needs to be put in place through private-public partnerships, the head of Italian insurer Generali said on Thursday. Speaking …
March 3, 2021
British insurer Hiscox reported a big loss for 2020 after a jump in claims from businesses disrupted by the COVID-19 pandemic and also faces “brand damage” from a legal dispute over policy wordings for pandemic-linked claims. Hiscox shares plunged 13% …
March 1, 2021
Lloyd’s announced on Friday, Feb. 26 that it plans to re-open its London underwriting room and corporation offices on May 17. To manage capacity and ensure the market is COVID-secure, it will once again apply a class of business rota …
February 25, 2021
Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year. The reinsurer’s Q4 2020 profit dropped to €212 million (US$258 million) from €217 million …