Financial / Results – Page 84
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NewsHiscox ups Covid reserving in face of ‘largest insured loss in history’
Hiscox revised its reserving upwards alongside taking into account potential business interruption payouts; the insurer believes its exposure to Covid-related BI claims could be between £10m and £250m
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NewsCrisis management - new Ageas chief exec Ant Middle reflects on the challenges to come
Insurer boss insists he’s ‘loving’ the role, despite taking over at a time of crisis for the industry
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Online only‘We need to take out more cost’ - RSA boss Hester on UK
RSA chief executive Stephen Hester today said more costs need to be taken out of the UK. The firm will build on the program launched at the end of last year.
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Online onlyGallagher posts ‘excellent’ results and eyes UK M&A
The broker’s bottom line was helped by a tightening of expenditure
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NewsBrit bottom line hurt by Covid-19 claims payouts
The insurer’s combined ratio went into negative territory in the first half of the year
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NewsRSA improves underwriting profit by 33% for 2020 H1
The insurer added within its H1 trading results that although ‘business interruption coverages are not expected to be eligible for Covid-19 claims, there are a number of areas where claims are being paid’
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NewsBriefing: Is Beazley plotting its route to success post-corona?
The insurer has been re-focusing its risk mix to prepare for any recession that follows the Covid-19 pandemic, and has already taken action that it hopes will reduce the impact of any future claims that arise as part of the anticipated economic downturn
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News AnalysisLancashire falls to $23m H1 loss as Covid-19 claims hit hard
The insurer increased its loss estimate for Covid-19 to $42m
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Online onlyThe story of brokers' troubled relationship with Gefion and Tansar
The story of Tansar and Gefion is fully revealed in the administrator’s documents
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News AnalysisLemonade’s IPO – what does it mean for the insurance industry?
Insurtech Lemonade’s shares doubled in value on its first day of trading on 2 July, surging from $29 to $69.41; this followed the firm filing for an Initial Public Offering (IPO) back in June.
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NewsUnderwriting discipline sees Sabre results hold firm amid Covid pressures
The motor insurer said it was hard to predict what will happen to premiums this year due to ongoing Covid-related uncertainty
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NewsFCA proposes insurance relief extension for Covid-hit customers
The original measures were brought in this May
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NewsTwitter hack exposes potential for reputational harm
The confluence of Covid-19 and advanced social engineering techniques poses a growing threat - CyberCube
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Online onlyBriefing: Why PIB could be Gallagher’s next major UK acquisition
Gallagher will likely turn its attention to UK acquisitions again once Covid settles
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Online onlyBriefing: The current BI legal fight is a very ugly look for insurers
Even if they win, the optics of insurers battling their customers in court will harm the industry
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News AnalysisQuantum questions to follow FCA test case
If the High Court rules that insurers are liable for their policyholders’ Covid-19 business interruption losses, then agreeing quantum for specific claims amid a myriad of coronavirus-related factors will be insurers’ next hurdle
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