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Scor posts Eur456mn pandemic loss and 110% Q2 P&C combined ratio

News

COVID-19

Scor posts Eur456mn pandemic loss and 110% Q2 P&C combined ratio

Scor reported net Covid-19 pandemic related losses of Eur456mn ($528.5mn) in the second quarter of 2020.

Thu 23 Jul 2020

News

People Moves

Arch names SVP of ceded reinsurance

Arch Insurance International has promoted Krista Bonneau to the position of senior vice president of ceded reinsurance, effective immediately.

Thu 23 Jul 2020

AGCS confirms Maxwell appointment at Eur800mn ART unit

News

People Moves

AGCS confirms Maxwell appointment at Eur800mn ART unit

Allianz Global Corporate & Specialty (AGCS) has confirmed the appointment of Grant Maxwell as Global Head of its Eur800mn+ ART unit.

Thu 23 Jul 2020

News

Results

Beazley shares jump on H1 consensus-beating results

Lloyd’s carrier Beazley saw its shares climb 6 percent by mid-morning today as investors welcomed the group’s H1 results.

Thu 23 Jul 2020

Lloyd’s delays Brussels Part VII scheme transfer to end of year

News

Brexit

Lloyd’s delays Brussels Part VII scheme transfer to end of year

Lloyd’s has pushed back the effective date of the Part VII scheme of its existing European business to its Brussels platform to the end of the year.

Thu 23 Jul 2020

News

Surplus lines premium increased 10.3% in H1: WSIA

Total surplus lines premium reported to the 15 US stamping offices was $19.74bn for the first half of 2020, up 10.3 percent over the same period in 2019, figures from the Wholesale & Specialty Insurance Association (WSIA) have revealed.

Wed 22 Jul 2020

News

RLI operating earnings up 17% in Q2

US specialty insurer RLI has reported operating earnings for the second quarter of $34.8mn, up from $29.7mn in the same period of 2019.

Wed 22 Jul 2020

News

People Moves

Smith to retire from R-T Specialty

Scott Smith has announced he intends to retire from R-T Specialty at the end of the year, after being at the wholesale broker since 2013 when his company was acquired.

Wed 22 Jul 2020

News

Insured global cat losses reach $30bn in H1: Aon

Insured catastrophe losses around the world of $30bn in the first half were lower than in the same period of 2019, according to Aon.

Wed 22 Jul 2020

Lockton anoints King president of Washington state region

News

People Moves

Lockton anoints King president of Washington state region

Nicholas King has been hired as president of Lockton Washington from Seattle brokerage Parker Smith & Feek.

Wed 22 Jul 2020

AM Best affirms Greenlight Re with a negative outlook following appeal

News

Rating actions

AM Best affirms Greenlight Re with a negative outlook following appeal

AM Best has kept Greenlight Capital Re’s financial strength rating of A- (Excellent) on negative outlook, while noting the reinsurer will struggle to improve its underwriting performance in the short term.

Wed 22 Jul 2020

News

People Moves

HSCM partner Fascione to leave

Hudson Structured Capital Management (HSCM) partner Simon Fascione is leaving the business just over two years after he first joined the platform from Aeolus.

Wed 22 Jul 2020

Munich Re S.1840 pandemic consortium solution to complement market wide initiatives

News

COVID-19

Munich Re S.1840 pandemic consortium solution to complement market wide initiatives

Munich Re Innovation Syndicate 1840’s proposed pandemic solution for middle market clients in the UK and US aims to build total aggregate coverage of $500mn that will complement proposals in the UK such as ReStart, Black Swan Re and Pandemic Re, The Insurer can reveal.

Wed 22 Jul 2020

Action group accuses insurers of “diversionary tactics”

News

Business interruption

Action group accuses insurers of “diversionary tactics”

A policyholder action group permitted to intervene in the FCA’s High Court test case has accused two UK insurers of seeking to use “diversionary tactics” in order to avoid paying out on Covid-19 related business interruption claims.

Wed 22 Jul 2020

News

COVID-19

Swiss Re books H1 $2.5bn Covid-19 hit; falls to $1.1bn loss

Swiss Re has estimated its claims and reserves related to the Covid-19 pandemic stand at $2.5bn in the first half of the year, pushing the carrier to a $1.1bn H1 net loss.

Wed 22 Jul 2020

HSCM and Scor support Branch’s $24mn Series A funding round

News

Capital raising

HSCM and Scor support Branch’s $24mn Series A funding round

Home and auto insurtech Branch has closed a $24mn Series A funding round that was co-led by Hudson Structured Capital Management (HSCM) and which also saw Scor Global P&C make an inaugural investment in the platform.

Wed 22 Jul 2020