Financial Ratings – Page 15
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NewsBeazley shares up 13% after £247m capital raise
The insurer’s share price responded well to the news, at one point rising as much as 13% on yesterday’s closing price.
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NewsInsurers have ‘adequate buffer’ of capital to withstand pandemic shocks says credit rating agency
The agency’s report further highlighted reputational risk as a potential problem
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NewsAviva and Zurich UK among insurers contributing to new industry-wide coronavirus support fund
The fund is supported by members from the ABI, Biba, Lloyd’s and the London Market Group
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NewsCovid-19 heralds hardest of hard markets
Few classes are expected to emerge unscathed as markets harden in the wake of coronavirus
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NewsFCA orders insurers to support customers in coronavirus-related financial hardship
The range of measures proposed by the regulator are effective from 18 May 2020
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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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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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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
