Financial / Results – Page 89
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NewsFraud Charter: Insurers preparing for Covid claims ‘explosion’
Claims management firms are gearing up to target coronavirus pay outs
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NewsGovernment launches temporary reinsurance scheme to facilitate access to trade credit insurance
The initiative aims to help businesses recover from the economic shocks of the Covid-19 pandemic
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NewsSRA confirms law firms can apply for professional indemnity extension due to Covid-19
Lawyers struggling to secure professional indemnity coverage in light of the pandemic can apply for extra time
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NewsZurich reveals $750m of estimated coronavirus claims
But insists these remain within the insurer’s risk tolerance
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NewsAgeas falls to £2.7m loss after weather claims hit hard
The insurer reported an 11.7 percentage point worsening of its combined operating ratio
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IT InterviewInsurance market is on the back foot in dealing with Covid-19 pandemic says law firm partner
Insurers and brokers need to move past the crisis management phase and think of future solutions to mitigate pandemic risks
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NewsRSA sued by dozens of investors following Irish under-reserving error
The shareholders accused the insurer of using its Irish division as a “cash cow” to support under-performing units in the wider group
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NewsBiba flags 19 coronavirus-related issues on behalf of brokers
The trade body collated top broker concerns surrounding the Covid-19 pandemic, such as unoccupied property clauses, renewal extensions and insurer risk recommendations
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NewsAllianz GWP tops £1bn following acquisitions
The LV= and L&G deals have doubled the size of the insurer
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NewsRSA’s Hester apologises to shareholders but says insurer is in ‘good shape’
The insurer’s share price has been performing poorly, losing almost a third of its value since the beginning of the year
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NewsMunich Re reports €800m loss related to Covid-19 in 2020’s Q1
The firm attributes losses to event cancellation claims in light of coronavirus pandemic
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News AnalysisArdonagh: Under the bonnet of the broker’s financials
Ardonagh’s financial results for 2020 stated strong revenue growth and booming earnings, but, as is often the case with financial results, the full picture is more complex
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Online onlyAdmiral back on top as Hastings slips down the rankings
Admiral UK has regained its place as the best underwriter in UK general insurance after reporting a market-leading combined operating ratio for 2019
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NewsBought by Many unveils £78.4m growth equity investment bolstering further expansion plans
The financing will help the insurtech grow internationally
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NewsRSA reveals £25m of Covid-19 claims to end of April
But reinsurance for its travel book and business interruption policy exclusions have limited the insurer’s exposure to the pandemic
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News AnalysisAIG reveals limited BI exposure despite $272m Covid-19 hit
Chief executive Brian Duperreault describes Covid-19 as “the single largest CAT loss the industry has ever seen”
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News AnalysisDLG reveals 70% drop in motor claims
And admitted that the coronavirus pandemic may have a knock-on effect on its cost-savings initiatives
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NewsHiscox to capital raise via share placement
The insurer could raise £400m based on its share price at close
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News AnalysisBI coronavirus payouts could spell commission clawback worry for brokers
Some obstacles brokers face as they navigate the Covid-19 crisis could have a detrimental effect on their survival
