Pandemic
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Swiss Re Corporate Solutions’ turnaround ‘ahead of plan’ despite Covid pushing it into the red
Swiss Re Corporate Solutions reported “strong” and much-improved underlying performance last year, despite falling to a $350m loss as big…
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QBE books $1.5bn loss in 2020
QBE has reported a net loss of $1.5bn for 2020 from a profit of $550m in 2019, after booking $655m…
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Argo reports $19.7m net loss in Q4 and $76.5m for full year
Bermudian (re)insurer Argo Group International reported a net loss of $19.7m for Q4 last year, down from a loss of…
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AIG’s general insurance income almost halves despite Q4 rebound
AIG’s general insurance business saw adjusted pre-tax income fall to $1.9bn last year from $3.53bn, despite a rebound in Q4…
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Most P&I insurers to increase rates for 2021/2022
Ten of 13 mutual insurer marine protection and indemnity (P&I) clubs that constitute the International Group will increase rates at…
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Eiopa still mulling pan-European pandemic and multi-risk NDBI pool
A new consultation paper from Eiopa on how best to improve business interruption (BI) insurability in light of Covid-19, concludes…
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Trade credit fallout from pandemic to worsen in 2021
Despite positive news on vaccinations, the outlook for trade credit risk remains uncertain and insolvencies are predicted to rise significantly…
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Zurich’s P&C profits down 28% despite H2 rebound and ‘strong’ commercial rates
P&C operating profit fell 28% at Zurich Insurance last year and was down 20% for the group as Covid-19 and…
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WTW revenues up 3% as Covid-19 slows growth in 2020 and into 2021
Willis Towers Watson (WTW) reported 3% revenue growth in Q4 and full-year 2020, closing the final quarter with revenue of…
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Buyers may seek damages for late Covid-19 BI claims payment under Enterprise Act
Commercial insurance buyers should consider whether they can recoup costs incurred from delays in paying Covid-19-related business interruption (BI) claims,…
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CNA’s net income down almost a third in 2020 despite strong Q4
CNA Financial reported $387m in net income for the fourth quarter of 2020, up nearly 30% from the year-earlier period,…
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Employees seek more protection cover from employers post-Covid-19, finds AIG study
Some 37% of UK employees want their employer to offer more protection insurance – including life, income and critical illness…
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Beazley falls to $50m loss in 2020 after event cancellation drives Covid-19 claims
Beazley recorded a 250% fall in pre-tax profit to record a “disappointing” loss of $50.4m in 2020, after being $268m…
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Claims set to be impacted by new insurance policy formats, warns leading risk manager
Insurers are predicting that the impact of the Covid-19 business interruption (BI) test case in the UK will have an…
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Greenberg sticks by insured Covid-19 loss estimate of up to $80bn
Despite some experts reducing their insured pandemic loss figure, Chubb’s CEO Evan G Greenberg said the insurer is sticking to…
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Amrae members urged to consider risks of nomadic lifestyle in ‘new normal’
New risks linked to working habits as home working took over during the Covid-19 pandemic – such as dealing with…
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Berenberg cuts Covid-19 insured loss range to $40bn-$60bn
Equity analysts at Berenberg have lowered the range of global insured Covid-19 losses to between $40bn and $60bn from its…
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Four in five global companies embrace ERM following Covid-19, finds Aon
Pandemics were not a top ten risk for four out of five businesses before Covid-19, according to a new survey…
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AMRAE president warns relationships with insurers at ‘breaking point’
The head of France’s risk management association has warned that relationships between insurance buyers and insurers are nearing “breaking point”,…
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Chubb’s 2020 income down 20% despite rebound in Q4 spurred by strong rates
Chubb’s net and core income bounced back strongly in the fourth quarter of 2020 as the insurer pushed through rate…