Allianz
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Costs outpaced the European benchmark rate change, but Covid loss negotiations have been deferred. -
The return to the office and perceived slow business recovery could also lead to claims.
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The German carrier and Apollo-backed bid partner Athora reportedly met resistance from unions during the $3.6bn auction.
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The latest recruit is returning to Swiss Re after five years.
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The report said that the volume of cyber insurance claims had gone up more than nine times in the past five years.
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Soaring rates in the D&O market have prompted a string of underwriting people moves in London.
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The carrier expects its total losses to reach EUR700mn-EUR900mn, as Covid claims reports begin to flow to reinsurers.
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AIG shares climbed 13% to $37.52, compared with a 1.2% increase in the overall S&P 500 index.
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The CFO says the carrier will first focus on bringing its combined ratio below 100%.
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Operating profit was down 40% in AGCS as the carrier pruned its portfolio in North America and investment income fell.
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The Allianz unit says the experience of the Sars epidemic suggests general liability claims are likely to remain benign.
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The deal with Jubilee Insurance supports Allianz’s ambition to gain market leadership in key African territories.
