Financial Ratings – Page 14
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NewsRevealed: Beazley top Lloyd’s underwriter as Hiscox slides
Beazley has risen to be the most profitable Lloyd’s underwriter for 2019 after finishing second the previous year.
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NewsInsurers accused of ‘intransigence’ in Covid-19 BI payout dispute
Insurance industry body ABI faced a grilling by Northern Ireland politicians
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NewsEthos-owned Bennett Christmas buys energy broker
The acquisiton is Bennett Christmas’ second since being taken over by Ethos Broking
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NewsPhil Barton: UK broking is just like the Premier League, but that’s not a good thing
The chief executive said that the increasing EBITDA multiples being paid for brokers has damaged best practice while only lining the pockets of private equity firms and a select few lawyers and entrepreneurs
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NewsLondon market top performers say strong portfolio management led to 5% uptick in COR
New research shows that portfolio management is ‘an increasingly important tool’ in delivering underwriting profit
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NewsAXA cuts dividend in wake of €1.2bn Covid-19 claims estimate
The insurer said increased claims would mostly come from business interruption and event cancellation business
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NewsPIB acquires Munich-based broker Marx Re
The acquisition marks PIB’s first foray into the reinsurance broking market
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NewsMarkerstudy to make 478 staff redundant due to financial impact of Covid-19
The company has already furloughed more than 1,000 employees, as well as asked staff to take a 20% pay cut and give up sick pay
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NewsAgeas to provide capacity for Victor Insurance UK
The five-year agreement will support writing £60m GWP
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NewsBy Miles unveils post-funding growth plans as policy sales soar
Pay-by-mile insurtech, By Miles is expanding following its recent £15m Series B funding round, with business booming during the lockdown
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Online onlyPremfina boss in incredible effort with covid art auction fundraise
Premfina Bundeep Rangar in huge effort which could raise up to £1.5m to support covid causes
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NewsCredit rating agency says insurers’ credit quality could be affected by BI court cases
The firm’s latest report stressed ‘the impact of potential liability exposure, particularly in relation to event cancellation and BI claims’ linked to the coronavirus pandemic
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NewsAxa to pay some French restaurant business interruption claims after losing court case
Case could set a precedent for similar cases against insurers in the UK
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NewsRestaurant owner slams ‘unacceptable’ Covid payout refusal
Hampshire-based business has joined the Hospitality Insurance Group Action in a bid to force an insurance payment
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NewsInsurtech funding drops by more than half during first quarter
Covid-19 pressures seen as the primary reason for the drop
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NewsBeer and pub trade bodies slam ‘collective failure of insurers’ during Covid-19 crisis
Four trade associations pen open letter to the ABI in order to obtain a meeting with insurer bosses
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NewsAviva estimates Covid-19 impact on specialist schemes and brokers as related BI claims reach £200m
Insurer Aviva has estimated that business interruption (BI) claims related to the Covid-19 pandemic will amount to around £200m across its global general insurance portfolio, net of reinsurance.
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NewsCustomers need brokers “more than ever” says Ross after Ardonagh reports uptick in EBITDA despite coronavirus crisis
The broker attributed this growth to “accretive investments in growth initiatives, including producer hires, bolt-on acquisitions, and the continued delivery of cost savings”.
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NewsAviva names new chairman
Aviva has appointed financial services veteran George Culmer as its new non-executive chairman, succeeding Adrian Montague who steps down…
