Financial Ratings – Page 16
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NewsHiscox to capital raise via share placement
The insurer could raise £400m based on its share price at close
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NewsHiscox predicts £10m to £250m BI coronavirus hit and launches share placing
It recognises that this is an extremely difficult time for businesses and it is determined to provide greater certainty for its customers
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NewsLV= ringfences £30m to help customers suffering financial hardship because of Covid-19
The insurer will redirect savings from reduced claims during lockdown to help car and motorbike policyholders
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NewsCovid-19: Insurers in talks to set up fund to help stricken charities
Fund would provide relief to charities unable to collect funds amid the lockdown measures
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NewsCovid-19: SMEs could stop buying BI policies
A survey found a significant number of companies would not bother buying such cover in the future
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NewsWillis Towers Watson predicts up to $13.9bn market loss for BI and contingency lines due to Covid-19
The firm’s insurance consulting and technology business says the effectiveness of policy wordings is a key uncertainty
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NewsLancashire reveals $35m coronavirus claims for Q1
The insurer’s charitable foundation has also made a £100,000 donation to coronavirus causes
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NewsMarkel confirms Olympics and Wimbledon exposure as it reveals $325m coronavirus hit
The insurer is also preparing for “significant litigation” surrounding the handling of pandemic claims and is reviewing wordings to limit future risk exposure
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NewsPioneer and K2 agree terms for underwriting portfolio transfer
The deal is expected to close by the end of Q2
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NewsCovid-19 pandemic event could be most expensive ever for insurers, says Lloyd’s chief
Pandemic could cost hundreds of billions, says John Neal
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NewsTrade credit insurers could get state help as Covid-19 bites
Government is in talks with the ABI to provide a guarantee for insurers
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NewsComprehensive car insurance premiums fell by 1% in 2020’s Q1
The average cost of annual car insurance is now £809
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NewsCovid-19 insurance impact 'like a meteorite', says Allianz chief
Oliver Baete said such events could not be insured with normal policy wordings
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NewsHastings to pay reduced dividend amid 'no Covid-19 exposure'
The group has no business lines with direct claims cost exposure resulting from the pandemic
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NewsAviva to provide free breakdown cover and courtesy cars for customers working for the NHS
The package of measures further aims to support customers who are experiencing financial difficulties as a result of the coronavirus pandemic
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Online onlyQBE to raise $825m new equity capital in wake of coronavirus pandemic
The insurer said in an announcement to the Australian Stock Exchange that the extra capital would come in the form of a new equity placement and a share purchase plan
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Online onlyEsure back in profit but underwriting struggles continue
A 5.5 percentage point improvement in the insurer’s overall combined operating ratio was not enough to report a positive underwriting result
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NewsInsurers continue baby steps in reducing gender pay gap
Despite the Government Equalities Office suspending enforcement of the gender pay gap deadlines for this reporting year, a number of insurers have still published their figures
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NewsInsurers and banks ‘acutely impacted’ by Covid-19, says operational risk association
However, the membership organisation believes the biggest potential cost on businesses is reputational
