“Business as usual” for Airmic 2020 conferenceMounting coronavirus fears that have spurred major insurance players to limit travel as well as internal and external events have proved not to be a deterrent to risk managers’ body Airmic, which has committed to hosting its annual conference this June.
AM Best places Covéa ratings under reviewAM Best has placed under review with developing implications the ratings of Covéa as a result of its proposed $9bn cash acquisition of Bermudian reinsurer PartnerRe.
Aviva posts record £3.2bn operating profit in 2019UK insurance giant Aviva reported a 6 percent rise in operating profit to £3.2bn ($4.1bn) for the year ended 31 December 2019 on the back of a strong performance in its general insurance business, though profits in its UK life business dipped.
Hamilton hires head of excess casualty for Lloyd’s businessHamilton’s Syndicate 4000 has brought in Fergus Fergusson as divisional head of its excess casualty offering, with the new arrival joining the business after nine years with Aspen.
PRA warns market on board diversityThe Bank of England’s Prudential Regulation Authority (PRA) has issued a warning to UK regulated carriers and insurance intermediaries to ensure their boards are adequately diverse and comply with the regulator’s rules on board diversity.
Pool Re completes up-sized £2.4bn XoL placementThe UK state-backed terrorism mutual Pool Re has completed the placement of its up-sized £2.4bn ($3.1bn) retrocession programme with more than 50 international reinsurers, a move first revealed by The Insurer.
Jefferies upgrades Munich Re on capital strength U-turnEquity analyst Jefferies has upgraded Munich Re from a rating of ‘underperform’ to ‘hold’, stating its earlier expectation that Munich Re would face significant volatility in its solvency ratio was “wrong on three counts.”
European insurance shares hold steady despite Asia-Pacific fallsEuropean insurance stocks were off to a stable start this morning after Asia-Pacific markets sold off, as investors digest news of an emergency rate cut by the US Federal Reserve aimed at stopping the US economy sliding into recession.
Helvetia posts FY non-life CR of 92.3% as specialty push gathers paceExpansive Swiss carrier Helvetia has reported a net combined ratio in its non-life unit of 92.3 percent in 2019, a 1.3 percent deterioration on the prior year, as the insurer looks to continue to broaden its specialty footprint.
Political and economic uncertainty ‘intertwined’ in 2020 as trade tensions growEconomic and political risks will be more intertwined in 2020 as trade tensions continue to present a major risk to the global economy, while the novel coronavirus outbreak may also disrupt trade and supply chains, according to broker Marsh.
BIBA urges UK chancellor to freeze IPT in 2020 budgetThe British Insurance Brokers’ Association (BIBA) has called for the UK government to freeze the standard 12 percent insurance premium tax (IPT) when newly-appointed chancellor Rishi Sunak unveils the 2020 budget next week.
European insurance stocks trade up on stimulus hopesEuropean Insurance stocks climbed for a second straight session on Tuesday as the majority of European benchmark indices open in the green following pledges from both Central Banks and policymakers to take measures to ease the economic impact of the coronavirus outbreak.
US at high risk of coronavirus spread from Italy and South Korea: AIRModelling agency AIR Worldwide has identified the US as one of the countries at the highest risk of onward coronavirus spread.
Global (re)insurers to feel coronavirus impact through financial market volatilityGlobal (re)insurance firms are exposed to the coronavirus outbreak directly through a potential spike in claims, and indirectly through the impact on economic growth and the resultant financial market volatility, according to Moody’s.
Munich Re shares tumble on coronavirus and investor disappointmentMunich Re saw its shares fall over 6 percent in early trading on Friday after the German reinsurance giant’s full year earnings missed consensus and the continuing coronavirus sell-off continues to weigh heavily on European stocks.
Pool Re cast in government net: what next?Earlier today, it was announced the UK terrorism mutual, Pool Re, is to fall under government supervision following classification by The Office for National Statistics (ONS) that it is a public body.
European (re)insurance stocks follow Asia in freefall as BoE warns on downgradeEuropean (re)insurance stocks fell yet again on Friday on coronavirus fears as shares in Asia-Pacific markets sold off for a seventh day, following Wall Street into correction territory.
Chubb names Miller as country president for SwitzerlandChubb has named Dawn Miller as country president for Switzerland, effective 1 March.
Euro insurance stocks fall heavily as coronavirus sell-off continuesEuropean insurance stocks fell for a fourth consecutive day as the market tumult sparked by the growing coronavirus crisis sees European stocks follow Asia’s lead with heavy declines in morning trading.
FCA admits data breach as 1,600 records go publicThe UK’s Financial Conduct Authority (FCA) has confirmed its website was the source of a data breach after personal information was published online in response to a Freedom of Information Act request in November 2019.