Munich Re
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The CFO says there is too much uncertainty to make predictions on final insured loss figures. -
The carrier predicts a “financially manageable” impact from Covid-19.
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Most of a EUR973mn man-made loss bill emanated from contingency claims related to the pandemic.
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Natasha Jodrell succeeds Simon Parnell, who is retiring after 21 years at the syndicate.
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The CEO says mandatory retroactive BI payouts would be “incompatible with the principles of the rule of law”.
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Munich Re has also temporarily stopped underwriting Jetty policies.
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Lloyd’s first syndicate-in-a-box kicks off with parametric wind cover and a warranty aimed at backers of small solar farms.
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Hui Yun Boo was Ironshore’s Asia Pacific managing director and Singapore CEO.
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Concerns remain over BI lawsuits despite management reassurances.
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A share buyback scheme was also halted until further notice due to "great uncertainty".
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Swiss Re and Munich Re are both on risk for the $800mn Tokyo Olympics contingency policy.
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Marsh is now seeking new carriers to cover pandemics as demand for its PathogenRX product rises.
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