Covid-19 virtual roundtable 3

Welcome to The Insurer's COVID-19 virtual roundtables

Every week, we bring together the thoughts and analysis on the industry’s response to the Covid-19 crisis with a different panel of industry leaders.

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Mike Reynold – SSL Endeavour

Former JLT Re head Reynolds to join PE-backed SSL Endeavour

2020-04-06T15:20:00+01:00

JLT Re’s former chief executive Mike Reynolds is set to join JC Flowers-owned SSL Endeavour, The Insurer can reveal.

Allstate

Allstate Q1 earnings to take $210mn hit in $600mn premium payback

2020-04-06T14:02:00+01:00

US auto insurer Allstate has pledged to return 15 percent of premiums back to its personal auto insurance customers in April and May, resulting in a pay-out of more than $600mn that will dent the carrier’s first and second quarter earnings.

GFIA – coronavirus

GFIA warns on industry collapse if retro coronavirus cover enforced

2020-04-06T13:14:00+01:00

The Global Federation of Insurance Associations (GFIA) has warned governments that forcing insurers to pay out on losses caused by the spreading coronavirus that are not covered by policies would threaten the entire financial stability of the industry.

Stoxx share price

Global stocks rally with Wall Street pointing higher on hopes pandemic is stabilising

2020-04-06T11:50:00+01:00

Wall Street futures tipped US stocks to open firmly higher in New York as global (re)insurance stocks rallied on Monday on the back of fresh investors optimism that measures designed to contain the coronavirus pandemic are starting to bear fruit.

COVID-19 RT 3 panel

ILS risk transfer opportunities to emerge from coronavirus

2020-04-06T11:54:00+01:00

While the coronavirus has challenges to deal with aplenty, the silver linings that the sector will be able to draw from the global pandemic are not in short supply either, including shifting ILS appetites, executives said during a virtual roundtable hosted by The Insurer.

Allstate

Allstate Q1 earnings to take $210mn hit in $600mn premium payback

2020-04-06T14:02:00+01:00

US auto insurer Allstate has pledged to return 15 percent of premiums back to its personal auto insurance customers in April and May, resulting in a pay-out of more than $600mn that will dent the carrier’s first and second quarter earnings.

GFIA – coronavirus

GFIA warns on industry collapse if retro coronavirus cover enforced

2020-04-06T13:14:00+01:00

The Global Federation of Insurance Associations (GFIA) has warned governments that forcing insurers to pay out on losses caused by the spreading coronavirus that are not covered by policies would threaten the entire financial stability of the industry.

Stoxx share price

Global stocks rally with Wall Street pointing higher on hopes pandemic is stabilising

2020-04-06T11:50:00+01:00

Wall Street futures tipped US stocks to open firmly higher in New York as global (re)insurance stocks rallied on Monday on the back of fresh investors optimism that measures designed to contain the coronavirus pandemic are starting to bear fruit.

COVID-19 RT 3 panel

ILS risk transfer opportunities to emerge from coronavirus

2020-04-06T11:54:00+01:00

While the coronavirus has challenges to deal with aplenty, the silver linings that the sector will be able to draw from the global pandemic are not in short supply either, including shifting ILS appetites, executives said during a virtual roundtable hosted by The Insurer.

Business Interruption Group

Celebrity chef group demands insurers pay Covid-19 bill as lawsuits mount

The lawyer behind the first Covid-19 business interruption (BI) litigation has launched a group along with celebrity chefs – including Thomas Keller and Daniel Boulud – that is threatening to serve up legal action in every US state unless insurers pay losses.

Wall street – coronavirus

Markets Review: AIG and Hallmark biggest weekly US fallers once again...

AIG and Hallmark Financial were the largest fallers last week in yet another choppy five-days of trading for The Insurer’s universe of US-listed P&C carriers and brokers.

Tokyo-2020-Olympics

Olympics postponement over cancellation to slash industry loss to $500-$650mn

The postponement of the Tokyo Olympics from 2020 to 2021 is likely to cost the industry between $500-$650mn, around a quarter of the estimate for an outright cancellation which has been pegged at $2-2.6bn, analysis by The Insurer shows.

Business Interruption Group

Celebrity chef group demands insurers pay Covid-19 bill as lawsuits mount

The lawyer behind the first Covid-19 business interruption (BI) litigation has launched a group along with celebrity chefs – including Thomas Keller and Daniel Boulud – that is threatening to serve up legal action in every US state unless insurers pay losses.

Wall street – coronavirus

Markets Review: AIG and Hallmark biggest weekly US fallers once again...

AIG and Hallmark Financial were the largest fallers last week in yet another choppy five-days of trading for The Insurer’s universe of US-listed P&C carriers and brokers.

Tokyo-2020-Olympics

Olympics postponement over cancellation to slash industry loss to $500-$650mn

The postponement of the Tokyo Olympics from 2020 to 2021 is likely to cost the industry between $500-$650mn, around a quarter of the estimate for an outright cancellation which has been pegged at $2-2.6bn, analysis by The Insurer shows.



Aon, WTW and Miller

​So, why doesn’t Aon just keep Miller?

Despite the global recession and the ice chill that has frozen the deal-financing markets, few would bet against Aon Group CEO Greg Case delivering on his bold, career-defining WTW swoop signed last month.

Coronavirus and stocks

Louisiana won’t be the last state to take aim at insurers

Louisiana has joined the handful of US states that could let Covid-19 claims get out of hand for insurers by considering legislation to override policy exclusions.

John Doyle  Marsh

Marsh looks to put US industry back on front foot over BI

If the US insurance industry’s role is to be a facilitator of economic growth then events of the last few weeks have put it in an invidious position.

Aon, WTW and Miller

​So, why doesn’t Aon just keep Miller?

Despite the global recession and the ice chill that has frozen the deal-financing markets, few would bet against Aon Group CEO Greg Case delivering on his bold, career-defining WTW swoop signed last month.

Coronavirus and stocks

Louisiana won’t be the last state to take aim at insurers

Louisiana has joined the handful of US states that could let Covid-19 claims get out of hand for insurers by considering legislation to override policy exclusions.

John Doyle  Marsh

Marsh looks to put US industry back on front foot over BI

If the US insurance industry’s role is to be a facilitator of economic growth then events of the last few weeks have put it in an invidious position.