Broadway

Chubb centre stage for Broadway Covid-19 claims

2020-05-29T20:52:00+01:00

Covid-19-related losses emerging from New York City’s famous Broadway theatre district are piling up with Chubb the most exposed to so-called performance disruption claims, sources have told The Insurer.

Tokio Marine Gartner

Tokio Marine HCC sues Gartner to cap Covid-19 claims at $150mn

2020-05-29T17:06:00+01:00

A subsidiary of Tokio Marine HCC has filed a lawsuit against Gartner, seeking a declaration that the research and advisory company is not entitled to more than $150mn in event cancellation insurance related to Covid-19.

II-BogotaColombia-micro

Swiss Re-supported MiCRO makes Colombia move

2020-05-29T23:04:00+01:00

The Swiss Re-backed Microinsurance Catastrophe Risk Organisation has taken its first steps outside of its Central American test phase and made a move into Colombia.

Juan C. Andrade – Everest

Ratings agencies praise Everest’s outperformance

2020-05-29T22:59:00+01:00

AM Best and S&P Global Ratings have both affirmed Everest Re’s ratings, highlighting its outperformance of peers and noting Covid-19 losses are manageable.

Universal

Universal buys more open market cat limit and says cost increase “reasonable”

2020-05-29T22:56:00+01:00

Florida’s Universal Insurance Holdings said it completed its 1 June incepting cat reinsurance programme with more open market cat capacity than previously from reinsurers including Nephila and RenRe.

Tokio Marine Gartner

Tokio Marine HCC sues Gartner to cap Covid-19 claims at $150mn

2020-05-29T17:06:00+01:00

A subsidiary of Tokio Marine HCC has filed a lawsuit against Gartner, seeking a declaration that the research and advisory company is not entitled to more than $150mn in event cancellation insurance related to Covid-19.

II-BogotaColombia-micro

Swiss Re-supported MiCRO makes Colombia move

2020-05-29T23:04:00+01:00

The Swiss Re-backed Microinsurance Catastrophe Risk Organisation has taken its first steps outside of its Central American test phase and made a move into Colombia.

Juan C. Andrade – Everest

Ratings agencies praise Everest’s outperformance

2020-05-29T22:59:00+01:00

AM Best and S&P Global Ratings have both affirmed Everest Re’s ratings, highlighting its outperformance of peers and noting Covid-19 losses are manageable.

Universal

Universal buys more open market cat limit and says cost increase “reasonable”

2020-05-29T22:56:00+01:00

Florida’s Universal Insurance Holdings said it completed its 1 June incepting cat reinsurance programme with more open market cat capacity than previously from reinsurers including Nephila and RenRe.

cartoon

Aon-WTW: A marriage made in Miami

2020-05-11T11:46:00+01:00

Less than two months after MMC’s audacious £4.3bn swoop for JLT, Aon Group CEO Greg Case presented the merits of a deal with rival WTW in a November 2018 Aon London Board meeting, an SEC proxy filing shows.

Guessing game

(Re)insurers need all the friends they can get if Covid-19 is an $80bn+ loss

2020-05-01T14:21:00+01:00

Earlier today, a report from Willis Towers Watson estimates the P&C industry could face up to $140bn in Covid-19 related insured losses in an “extreme” scenario and $80bn in a “severe one”.

Industry heavyweights

Heavyweight support puts Pool Re in pandemic pole position

2020-04-22T07:31:00+01:00

Number 11 Downing Street – the home to the UK’s Chancellor of the Exchequer – has recently entertained three different early-stage propositions on how it could work with the insurance industry over a future pandemic reinsurance solution.

Twelve Capital

Insurance bonds attractive, but Argo a potential fallen angel: Twelve Capital

Insurance bonds are a compelling source of reliable income for investors, with Argo the only potential “fallen angel” among property casualty issuers, a new report from Twelve Capital has concluded.

Admiral share price

Pricing and regulatory pressures to hinder UK motor sector growth: Investec

Despite UK personal lines insurers materially outperforming the rest of the insurance market during the Covid-19-driven sell-off in the first quarter of 2020, investment bank Investec has offered a pessimistic view for the sector with price competition and regulatory pressures set to hinder growth into 2021.

Euro-listed

Beazley and Lancashire lead green week for Euro-listed P&C stocks

London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.

Twelve Capital

Insurance bonds attractive, but Argo a potential fallen angel: Twelve Capital

Insurance bonds are a compelling source of reliable income for investors, with Argo the only potential “fallen angel” among property casualty issuers, a new report from Twelve Capital has concluded.

Admiral share price

Pricing and regulatory pressures to hinder UK motor sector growth: Investec

Despite UK personal lines insurers materially outperforming the rest of the insurance market during the Covid-19-driven sell-off in the first quarter of 2020, investment bank Investec has offered a pessimistic view for the sector with price competition and regulatory pressures set to hinder growth into 2021.

Euro-listed

Beazley and Lancashire lead green week for Euro-listed P&C stocks

London-listed Beazley saw its shares climb almost 15 percent over last week’s five day trading period to lead a widespread green week for The Insurer’s universe of European-listed carriers.



Congress and covid-19

PRIA takes step forward but carrier scepticism remains…

The Pandemic Risk Insurance Act of 2020 (Pria) has now been formally introduced with heavyweight support from MMC and RIMS but it would be an exaggeration to say the insurance industry is unanimously lined up behind it.

US Commercial insurance pricing

Harder and longer

If it looks and feels like a hard market, then it probably is a hard market. And the latest data points after the bank holiday weekend suggest there’s plenty of fuel to keep up US commercial insurance pricing momentum with the Covid-19 effect only set to drive the hard market ...

Class of 2005

Capital raises, downgrades and de-risking …so, what about the start-ups?

We’ve experienced the downgrades (Axis, Generali), and we’ve had the equity raises (QBE, R&Q, Hiscox and earlier this week, Beazley).

Congress and covid-19

PRIA takes step forward but carrier scepticism remains…

The Pandemic Risk Insurance Act of 2020 (Pria) has now been formally introduced with heavyweight support from MMC and RIMS but it would be an exaggeration to say the insurance industry is unanimously lined up behind it.

US Commercial insurance pricing

Harder and longer

If it looks and feels like a hard market, then it probably is a hard market. And the latest data points after the bank holiday weekend suggest there’s plenty of fuel to keep up US commercial insurance pricing momentum with the Covid-19 effect only set to drive the hard market ...

Class of 2005

Capital raises, downgrades and de-risking …so, what about the start-ups?

We’ve experienced the downgrades (Axis, Generali), and we’ve had the equity raises (QBE, R&Q, Hiscox and earlier this week, Beazley).