NewsAviationAviation market faces “significant” premium income drop; markets continue to exit sectorThe aviation insurance market faces a “significant” 2020 premium income drop in the wake of the Covid-19 pandemic with some insurers behaving “disappointingly”, according to Gallagher’s latest Plane Talking report.Mon 6 Jul 2020
AnalysisLondon-listed carriers lead gains week in green week for Euro stocksShares in London-listed Hiscox led a widespread green week for European P&C equities with investors buoyed on encouraging news related to the development of a potential coronavirus vaccine and improving economic data.Mon 6 Jul 2020
NewsCyberXchanging hit by ransomware attackLondon market IT platform Xchanging has been hit by a ransomware attack, its parent DXC Technology confirmed on Monday.Mon 6 Jul 2020
NewsLossesPerils: Australian bush fire losses total A$1.8bnThe loss calculation service Perils says the “black summer” Australian bush fires of late 2019/early 2029 cost the insurance industry A$1.861bn, ($1.298bn) an increase on its earlier estimate.Mon 6 Jul 2020
NewsAviva shares up as Blanc named new CEOShares in UK insurer Aviva were up 5 percent in early trading as the market speculated that the sudden appointment of new CEO Amanda Blanc may lead to a value-enhancing strategic review.Mon 6 Jul 2020
NewsCOVID-19Lloyd’s Lab names fast-tracked Covid-19 cohortThe Lloyd’s Lab initiative, based at Lloyd’s of London, is a 10 week programme that pairs startups with managing agent mentors from the market.Fri 3 Jul 2020
NewsPeople MovesLloyd’s names Núñez country manager and general rep for Spain & PortugalLloyd’s has named Jose Núñez as its new country manager and general representative for Spain and Portugal.Fri 3 Jul 2020
NewsD&OTesla calls time on Musk insurance arrangement; returns D&O coverage to marketTesla has said it plans to bring an end to a controversial insurance arrangement with its CEO Elon Musk and will instead resume its search for directors’ and officers’ (D&O) coverage in the commercial insurance market Fri 3 Jul 2020
NewsHiscox launches variable consortium for ‘hard to place’ general liability risksHiscox and RKH Reinsurance Brokers have launched a new variable consortium targeting a wide range of general liability risks such as wildfire, trucking and construction.Fri 3 Jul 2020
NewsMapfre launches Eur50mn social impact fundSpanish (re)insurer Mapfre has launched an investment vehicle to provide financing to companies with high social impact on both frontier and emerging markets.Fri 3 Jul 2020
NewsPeople MovesAllied World appoints new APAC presidentJota Shohtoku has been promoted to president of Allied World Asia Pacific, Global Markets Insurance.Fri 3 Jul 2020
NewsHiscox leads Euro P&C sell-off as excitement over US jobs data wanesShares in London-listed Hiscox shed over 2.6 percent as European P&C stocks traded lower on Friday with investor excitement following yesterday’s strong US payrolls data dampened by fears over surging coronavirus cases.Fri 3 Jul 2020
NewsMGAA pushes for return to face-to-face operationsThe large majority of Managing General Agents expect a return to face-to-face client and broker meetings post-Covid-19 with almost 60 percent of MGA’s reporting a negative financial impact from the pandemic.Fri 3 Jul 2020
NewsDigital insurer Bolttech targets European expansion with Austria dealInsurtech start-up Bolttech has expanded into Austria thanks to partnership with local telecommunications operator DreiFri 3 Jul 2020
NewsRating actionsAM Best affirms Horace Mann ratingsAM Best has affirmed the A financial strength and “a” long-term issuer credit rating of the P&C members of Horace Mann Insurance Group.Fri 3 Jul 2020
NewsBusiness interruptionInsurer wins in first US Covid-19 BI declaratory judgmentIn what is being viewed as the first Covid-19 coverage decision issued in the US, a circuit court judge has granted Michigan Insurance Company’s motion for summary disposition against a restaurant owner.Fri 3 Jul 2020