Results – Page 25
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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…
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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
