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Plus an update on European (re)insurer results and all this week’s top news. -
The carrier reported “significant claims provisions” following the judgement in the FCA BI test case.
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The CEO lays part of the blame for the UK’s Covid-19 BI woes at brokers’ door.
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The EU’s chief insurance supervisor advocates adding on pandemic to existing national schemes.
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A Lloyd’s report warns that increasing digitisation makes key infrastructure assets more vulnerable.
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An underwriting loss at the international segment eclipses a profitable performance from MENA personal lines.
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The agreement will initially focus on political risk and trade credit, energy and property business, with up to $25mn of capacity per risk.
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The European (re)insurance supervisor said correlation to financial market risk made the idea a challenging one while reinsurance appetite is also very limited.
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The CEO said pricing was going up by 10%-30% and that terms were being tightened globally.
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The body said that government-backed insurance schemes are not always the answer and are complex to establish.
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The pandemic and natural disasters impacted the result by $178mn.
