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European stocks make tentative gains as coronavirus fears ease

News

COVID-19

European stocks make tentative gains as coronavirus fears ease

European (re)insurance stocks shifted higher on Thursday morning as optimism boosted investor confidence on news that countries across the continent may look to slowly ease lockdown measures in a bid to restart their flagging economies.

Thu 16 Apr 2020

Hiscox chairman stands down from Lloyd’s Council to enable uncontested election

News

People Moves

Hiscox chairman stands down from Lloyd’s Council to enable uncontested election

Hiscox plc chairman Robert Childs is one of three Lloyd’s Council members who have agreed to step down from their posts next month thus enabling uncontested elections for the new, slimmed down Council.

Thu 16 Apr 2020

Lloyd’s names country managers for Mexico and Colombia

News

People Moves

Lloyd’s names country managers for Mexico and Colombia

Lloyd’s has named Yelhis Hernandez as country manager for Mexico and Sebastian Gomez as country manager for Colombia as the insurance market looks to bolster its support in Latin America.

Thu 16 Apr 2020

News

M&A

Howden acquires Greek broker Matrix

Howden Broking Group has acquired Lloyd’s broker Matrix Insurance and Reinsurance Brokers (Matrix), a specialist in large corporate and industrial risks in Greece and Cyprus.

Thu 16 Apr 2020

Analysis

End of an on-off relationship?

Sompo International’s announcement yesterday that it will exit Lloyd’s at the end of the year is the latest chapter in a sometimes uneasy relationship between its chairman John Charman and One Lime Street. The Insurer charts the highs and the lows…

Thu 16 Apr 2020

Asia-Pacific stocks fall on IMF growth warning

News

COVID-19

Asia-Pacific stocks fall on IMF growth warning

Stocks across Asia-Pacific markets fell after a choppy trading session on Thursday after the International Monetary Fund (IMF) reported that economies in Asia will see zero growth this year for the first time in 60 years as a result of the coronavirus.

Thu 16 Apr 2020

Investment market rally means global reinsurance capital hit only 5%: Willis Re

Analysis

Results

Investment market rally means global reinsurance capital hit only 5%: Willis Re

The recent recovery in the investment markets – in particular for debt – means the year to date dent to the global reinsurance capital base is now only five percent compared to an estimated 20 percent decline merely three weeks ago, according to Willis Re.

Thu 16 Apr 2020

Evan Greenberg only insurance rep on Trump’s economic revival list

News

COVID-19

Evan Greenberg only insurance rep on Trump’s economic revival list

Chubb chairman and CEO Evan Greenberg is the only insurance industry executive among 200 business leaders named in Donald Trump’s Great American Economic Revival Industry Groups.

Thu 16 Apr 2020

News

COVID-19

Aviva makes £15mn charitable donation to Covid-19 efforts

Aviva, the UK’s largest insurer, has pledged £5mn to NHS Charities Together and £10mn to the British Red Cross as part of a package of measures to support customers and communities during the Covid-19 crisis.

Wed 15 Apr 2020

Capacity offered increases after Tremor clears first programmatic ILW trade

News

Property catastrophe

Capacity offered increases after Tremor clears first programmatic ILW trade

Risk transfer marketplace Tremor has revealed a large increase in both the capacity offered and the number of bidders in the second week of its online industry loss warranty (ILW) auctions compared to the first week.

Wed 15 Apr 2020

News

COVID-19

Arch estimates up to $145mn Q1 P&C and mortgage Covid-19 losses

Arch Capital has estimated first quarter pre-tax net losses of $85mn to $95mn across its property casualty insurance and reinsurance segments, for exposure to Covid-19 global pandemic claims.

Wed 15 Apr 2020

News

COVID-19

AFG set for Q1 net loss on Covid-19 investment hit

American Financial Group (AFG) expects to fall to a first quarter net loss on a Covid-19 driven investment hit as it also stripped marked-to-market (MTM) movements from revised 2020 operating earnings projections because it says they are too difficult to forecast in the current volatile environment.

Wed 15 Apr 2020

News

Casualty

Casualty writers trying to be flexible over Covid-19: AmWINS

Casualty underwriters “are striving to be flexible and fair” in their treatment of clients and their coverages relating to Covid-19 but exclusions are also still being added in many sectors, according to a new study from AmWINS.

Wed 15 Apr 2020

Parsyl launches parametric marine cover buoyed by $15mn Ascot-led fundraise

News

Cargo

Parsyl launches parametric marine cover buoyed by $15mn Ascot-led fundraise

Supply chain insurtech Parsyl has launched a marine cargo parametric product, following a $15mn Series A fundraising round led by Ascot Group and logistics technology investor GLP.

Wed 15 Apr 2020

Canadian dentists provide Aviva pain over Covid-19 claims

News

Business interruption

Canadian dentists provide Aviva pain over Covid-19 claims

Aviva is facing pandemic-related claims that could run into the hundreds of millions of dollars arising from an insurance program it has provided to Canadian dentists, The Insurer has learned.

Wed 15 Apr 2020

MS Amlin shuffles European leadership with CEO and CRO hires

News

People Moves

MS Amlin shuffles European leadership with CEO and CRO hires

MS Amlin Insurance Societas Europaea (MS AISE), the Belgium-based arm of MS Amlin, has appointed Ludovic Sénécaut as CEO and Rogier Peters as CRO as it continues to reorganise its management across the group

Wed 15 Apr 2020