Financial Ratings – Page 12
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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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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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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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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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NewsMuch at stake for insurers, brokers and policyholders as FCA test case kicks off
The ruling on this week’s test case could have profound reputational and economic implications for insurers and brokers alike
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NewsGefion liquidators revealed after unrated insurer's licence revoked
Chief executive Tonny Anker-Svendsen said the Covid-19 crisis had hampered efforts at raising additional capital
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NewsArdonagh buys Arachas and Bravo Group as it completes £2bn debt raise
The independent broker bought the two businesses for a combined value of £550m
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NewsPen extends construction capacity deal with CNA Hardy
The deal sees CNA Hardy becoming to the sole capacity provider for Pen’s modular construction policies
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NewsTrade associations report high engagement with GPAPs around dual pricing
Biba’s chief executive said the voluntary measures are ‘benefiting home and motor customers’
