Chubb secures victory in Irish pandemic coverage challengeChubb has secured victory in a long-running legal dispute after persuading Ireland’s High Court to upend an ombudsman’s findings relating to business interruption claims from firms that provided “essential services” during the pandemic.
TVUkrainian MP Mezentseva: Ukraine will be a “great opportunity” after the warUkrainian politician Maria Mezentseva has told The Insurer TV that Ukraine will become a “great opportunity” when the war with Russia is over, which she anticipates will happen by the end of this year.
TVRisk Spotlight: How do you know your ESG initiatives are having an impact?Climate events and social justice have dominated headlines in recent years, with the understanding and prioritisation of these issues only increasing.
Ageas Re wrote <€30mn in gross premiums at 1.1Ageas Re, the newly launched reinsurance arm of Belgian insurance group Ageas, underwrote premiums at the upper end of its €20mn to €30mn guidance at the 1 January renewals.
TVGC’s Hochberg: More “mega” legacy deals in 2023 as hard P&C cycle drives demandThe legacy market will continue to grow in 2023 with more varied and larger portfolios being transferred to run-off counterparties as carriers look to optimise reserves and deploy capital in the hard P&C market, according to Guy Carpenter’s Ed Hochberg.
Cinven-owned Säkra acquires HNW MGA Brookfield UnderwritingCinven-owned Swedish intermediary Säkra has acquired specialist high net worth (HNW) MGA Brookfield Underwriting
Argenta’s Knight to launch casualty MGA Casper with Cinven and GIC backingArgenta’s Bradley Knight is set to launch a casualty-focused MGA – Casper – with capacity provided by Hannover Re-owned Argenta and investment from Miller and its owners Cinven and GIC.
BoE’s Woods: Insurers will have clarity on Solvency II overhaul by year-endThe Bank of England has pledged to provide insurers with firm details on how eagerly anticipated changes to controversial capital rules will operate by year-end, urging senior executives “to move on” from a heated debate with the regulator over the reforms.
Perils ups February 2022 European windstorm loss estimate to €3.85bnLoss aggregator Perils has disclosed a fourth and final industry loss estimate of €3.851bn ($4.107bn) for the European windstorms that affected the British Isles and continental Europe between 16-21 February 2022.
TVSome reinsurers went “too far” at 1.1: LSM’s HobbsLiberty Specialty Markets president and managing director Phil Hobbs said he would have “rather been a seller than a buyer” of reinsurance at the 1.1 renewal, which saw some reinsurers “go too far” and risk damaging relationships.
Allianz puts exposure to Turkey earthquakes at €50-€100mnEurope’s largest insurer Allianz has revealed it expects claims to total between €50mn and €100mn as a result of the 6 February earthquakes in Turkey and northern Syria.
Marco acquires Navigators International Insurance CompanyOaktree Capital-backed European legacy specialist Marco Capital Holdings has acquired Navigators International Insurance Company (NIIC) from The Hartford.
Swiss Re targets $3bn net income in 2023 as 1.1 delivers volume growth of 13%A fourth quarter net income of $757mn kept Swiss Re in the black for 2022, with the reinsurer delivering net income of $472mn for the full-year.
Blenheim Syndicate 5886 closes 2020 YoA with £1.8mn lossBlenheim Underwriting has closed the 2020 Year of Account for Syndicate 5886 with a loss of £1.8mn, representing 0.7 percent of its near £250mn capacity for the YoA.
UK solicitors finalise plans for indemnity insurance fundBritish solicitors have confirmed plans to launch an insurance fund to cover historical negligence claims.
KCC estimates Turkish earthquake insured losses at $2.4bnKaren Clark & Company has estimated insured losses from last Monday’s Turkish earthquakes at $2.4bn.
Verisk’s Simic: Single-digit billion-dollar Turkey losses reflect low regional take-upInsured losses from the Turkey earthquakes in the single-digit billion-dollar range reflect the relatively low take-up of earthquake cover in the impacted region, according to Verisk’s managing director of global business development Milan Simic.
Under-pressure DLG delays FY results as speculation mounts over capital movesDirect Line Group delayed its full-year results yesterday, prompting fresh speculation that the UK insurer is mulling a financial package to shore up its weakened balance sheet.
Aon appoints Dávila as president of Spanish operationsAon has appointed Eduardo Dávila as president of Aon Spain, adding to his current responsibilities as EMEA CEO.
QIC barred from moving £4mn Covid BI dispute out of courtThe High Court has shot down QIC Europe’s bid to force a long-running Covid-19 business interruption dispute brought by the UK owner of cocktail bar chain Dirty Martini claim into arbitration, ruling the insurer must address the claim in court.