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Berkshire Hathaway, Fairfax and Markel sustained biggest falls in investment value.
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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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Citigroup and RBC note the reinsurer’s strong solvency position.
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UBS and Peel Hunt note uncertainties around the (re)insurer’s BI exposure.
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The reinsurer beats earnings forecasts and says Covid-19-exposed lines account for a small slice of premium. -
The carrier insists its capital position remains robust and it is well-placed to pay expected Covid-19-related claims.
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Group CEO Juan Andrade will assume oversight of the expanding insurance arm.
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The underlying cost of capital remains far above the average return on equity.
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Efforts to explain the role the industry is playing now and the role it can play after the pandemic passes are not cutting through.
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The executive rejoins Tom Milligan, a former CEO at the Bermuda reinsurer, as partner at the (re)insurance-sector investor.
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Available reinsurance capital could shrink in the line, which does not exclude pandemics, the broker notes.
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President Claude Tendil says the “international health situation” means the key reinsurance conference cannot go ahead.
