Ben Norris
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CRE Insurance
Swiss Re Corporate Solutions falls to nine-month loss but group says turnaround continues
Swiss Re Corporate Solutions fell to a $323m nine-month loss as Covid-19 cost $678m, but its parent group was keen…
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CRE Insurance
Covid-19 revenue hit will last beyond Q3, says Willis Towers Watson
Willis Towers Watson (WTW) reported a 1% revenue increase for Q3 to $2bn, which added to a total pot of…
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CRE Insurance
Marsh’s revenues increase by 3% in Q3
Marsh & McLennan Companies’ (MMC) risk and insurance broking business saw operating income increase by almost 20% to $333m in…
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CRE Insurance
Insurers’ reputation at risk because of clumsy renewals: GVNW
GVNW president Alexander Mahnke has warned insurers that the sector’s already tarnished reputation will be battered even further if they…
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Association News
Mahnke urges government to step up efforts on credit and pandemic schemes
The German risk and insurance management association GVNW has repeated its recent call for federal government and the German insurance…
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CRE Insurance
Ratings agencies unconvinced by AIG’s breakup
Major ratings agencies Moody’s, Fitch and Standard & Poor’s (S&P) have placed AIG’s ratings under review following the group’s announcement…
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CRE Insurance
Greenberg says market hardening spread in Q3 with more to come
Chubb’s CEO Evan Greenberg says commercial insurance market hardening spread to more lines and territories in the third quarter and…
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CRE Insurance
AXA XL’s withdrawal from London D&O market leaves ‘large hole’ in capacity
AXA XL’s decision to become the latest insurer to withdraw from London’s directors and officers (D&O) market will leave a…
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CRE Insurance
Chubb hit by heavy cat losses in Q3 but net income up 9%
Chubb recorded a 9% increase in net income for the third quarter of 2020 to $1.19bn, but it was down…
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BI
Geneva report says insurers would need 150 years of premium to cover Covid-19 BI losses
A new report by The Geneva Association concludes that there is “nowhere near” enough capacity in the P&C insurance industry…
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CRE Risk Management
GRI sustainability reporting standards published in Portuguese
Sustainability reporting standards published by the Global Reporting Initiative (GRI) have been translated into Portuguese to expand access and boost…
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CRE Insurance
Insurers move to support scattered workforces
The Covid-19 pandemic has caused social upheaval on a global scale, leaving risk managers and their organisations coping with a…
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CRE Insurance
Zaffino named AIG CEO
Peter Zaffino will become AIG’s CEO in March when he takes over from Brian Duperreault, who will become executive chairman.…
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CRE Insurance
Proactive risk management needed to avoid wave of mental health claims
Companies must take a proactive approach to employee wellbeing as mental health issues and stress climb during the pandemic. Mental…
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CRE Insurance
AIG suffers $790m Q3 cat loss and plans to split the group
AIG said it will spin off its life and retirement business from P&C operations, as it estimated catastrophe losses of…
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CRE Insurance
Marsh appoints Carolina Klint as risk management leader in Europe
Marsh has appointed Carolina Klint as risk management leader for continental Europe to serve the region’s biggest organisations. Ms Klint…
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Africa
State-backed global aviation pool for BI cat risks mooted by insurance association
The International Union of Aerospace Insurers (IUAI) is exploring the idea of a global government-backed insurance pool to cover future…
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CRE Insurance
Coverys buys Italian Lloyd’s broker and coverholder Bridge
Coverys European Holdings (CEH) has bought Italian broker and Lloyd’s coverholder Bridge Insurance Broker as it continues the expansion of…
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CRE Insurance
SII review could reduce capital burden for UK insurers in 2021, says Fitch
The UK could reform “burdensome aspects” of Solvency II (SII) as early as next year, said Fitch in response to…
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CRE Insurance
Paragon teams with CyberCube to help clients manage cyber risk
Paragon International Insurance Brokers has teamed up with CyberCube to roll out the firm’s cyber risk platform, Broking Manager, to…