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COVID-19

NJ regulator demands insurers cut premiums and offer refunds to Covid-19 hit customers

New Jersey state regulators have demanded that insurers cut premiums and provide refunds to personal and commercial customers in the wake of the Covid-19 crisis and the resultant drop in activity.

Thu 14 May 2020

News

European sell-off continues on worries over speed of recovery

US equity futures edged lower and European stocks declined on Thursday as investors awaited the latest American jobless data after another steep sell-off on Wall Street.

Thu 14 May 2020

News

Retro

Demand surges for ILWs as reinsurance and retro market tightens

Demand for industry loss warranties (ILWs) has grown strongly in recent weeks with pricing up by more than 15 percent compared to 1 January as potential buyers are met with limited capacity, The Insurer can reveal.

Thu 14 May 2020

Lockton Re hires Aon’s Thurman as US workers comp lead

News

People Moves

Lockton Re hires Aon’s Thurman as US workers comp lead

Lockton Re has continued its build out in the US with the addition of Keith Thurman from Aon to head up its workers compensation practice.

Thu 14 May 2020

Greco: Positive lessons from Covid-19 crisis but warns some carriers “may struggle”

News

Results

Greco: Positive lessons from Covid-19 crisis but warns some carriers “may struggle”

There are “good, positive lessons” from the global Covid-19 crisis said Zurich CEO Mario Greco as he predicted today the US and China will lead the global economy rebound in the second half of the year.

Thu 14 May 2020

FCA orders UK insurers to reassess customer risk and alleviate premium pressures

News

COVID-19

FCA orders UK insurers to reassess customer risk and alleviate premium pressures

The Financial Conduct Authority (FCA) has tasked UK insurers to implement a series of targeted and temporary measures to help policyholders who may be in financial difficulty as a result of the coronavirus pandemic.

Thu 14 May 2020

Antares names Campbell as head of specialty

News

People Moves

Antares names Campbell as head of specialty

QIC Global-owned Antares has appointed Martin Campbell as head of specialty at Antares Syndicate 1274, London.

Thu 14 May 2020

Catalina names Munich Re’s Waldstein CIO

News

People Moves

Catalina names Munich Re’s Waldstein CIO

Bermudian-headquartered legacy firm Catalina Holdings has named former Munich Re executive Philipp Waldstein as group chief investment officer, replacing Peter Harnik who is retiring after nine years at the firm.

Thu 14 May 2020

Envelop Risk completes $6mn Series A financing round

News

Cyber

Envelop Risk completes $6mn Series A financing round

MS Amlin-backed cyber analytics MGA Envelop Risk has completed a Series A financing round, raising circa $6mn in a process led by the tech-focussed venture capital fund Alpha Intelligence Capital, The Insurer can reveal.

Thu 14 May 2020

News

Lloyd’s mulls new Recover Re vehicle

Lloyd’s CEO John Neal says he is mulling the launch of Recover Re, an insurance vehicle that will offer “after the event” cover for pandemic related business recovery, including the current Covid-19 pandemic.

Thu 14 May 2020

News

COVID-19

Airmic calls for insurers to act favourably on “grey area” Covid-19 claims

The UK association for risk managers, Airmic has urged the insurance market to adopt a more responsible and business sensitive position on the Covid-19 pandemic or risk long-term damage to trust and reputation and loss of customers.

Thu 14 May 2020

News

COVID-19

Zurich pegs 2020 Covid-19 loss at $750mn; reinsurance unlikely to engage

Swiss powerhouse insurer Zurich has reported a jump in P&C gross written premiums of 7 percent to $9.68bn in the first quarter, with the division also booking $280mn of current claims related to the ongoing Covid-19 pandemic.

Thu 14 May 2020

News

COVID-19

Lloyd’s estimates Covid-19 loss at $3bn-$4.3bn

Lloyd’s has unveiled the industry’s largest Covid-19 loss estimate by some distance with an initial range of $3bn-$4.3bn and warned it could increase further if the “current lockdown continues into another quarter”.

Thu 14 May 2020

News

AIG shareholders approve executive pay at AGM

Shareholders of AIG have approved the insurer’s executive compensation at the annual general meeting while rejecting a proposal to give major shareholders the right to call special meetings.

Thu 14 May 2020

News

COVID-19

Covid-19’s impact on marine market far from certain as price hardening continues

Covid-19 has cast a web over many facets of the marine insurance market with protection and indemnity (P&I) carriers potentially on the hook for cruise company claims while the stock through-put sector possibly facing claims as cargo is held in storage for longer.

Wed 13 May 2020

Scor shares trade up amid P&C sell-off in Europe and US

News

Share price

Scor shares trade up amid P&C sell-off in Europe and US

French reinsurer Scor was the biggest outlier as investors on both sides of the Atlantic sent P&C stocks sliding Wednesday, with a dozen US-listed shares falling at least five percent.

Wed 13 May 2020

NJ regulator demands insurers cut premiums and offer refunds to Covid-19 hit customers

European sell-off continues on worries over speed of recovery

Demand surges for ILWs as reinsurance and retro market tightens

Lockton Re hires Aon’s Thurman as US workers comp lead

​Greco: Positive lessons from Covid-19 crisis but warns some carriers “may struggle”

FCA orders UK insurers to reassess customer risk and alleviate premium pressures

Antares names Campbell as head of specialty

Catalina names Munich Re’s Waldstein CIO

Envelop Risk completes $6mn Series A financing round

Lloyd’s mulls new Recover Re vehicle

Airmic calls for insurers to act favourably on “grey area” Covid-19 claims

Zurich pegs 2020 Covid-19 loss at $750mn; reinsurance unlikely to engage

Lloyd’s estimates Covid-19 loss at $3bn-$4.3bn

AIG shareholders approve executive pay at AGM

Covid-19’s impact on marine market far from certain as price hardening continues

Scor shares trade up amid P&C sell-off in Europe and US

Greco: Positive lessons from Covid-19 crisis but warns some carriers “may struggle”