Zurich
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Offshore energy chairman Frank Streidl said margins are tight and upstream had not hardened like other insurance lines. -
The willingness by legacy buyers to walk away from deals is a sign of discipline in a competitive market.
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Clubs including Arsenal, Aston Villa and Leicester City are claiming against insurers.
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The carrier has also hired Munich Re’s Andreas Schmitt as group cyber underwriting manager.
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Zurich is ahead of schedule on its nat cat exposure reduction in the US, the company’s CFO George Quinn said during an H1 earnings call.
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Zurich’s P&C business saw H1 business operating profit rise 31.8% on a year ago, with a 91.9% combined ratio for the period.
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The suit is the latest in a series of Covid-19 BI legal actions hinging on aggregation brought against insurers.
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The parties gave their final submissions following a legal hearing that has lasted over two weeks.
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The insurers also claimed that Stonegate’s desired treatment of furlough payments would lead to it being ‘over-indemnified’.
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The pub company is looking for a payout at every one of its 760 premises, whilst insurers claim it is entitled to a single limit.
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The bakery chain is suing Zurich over losses during the lockdown, one of several high-profile BI legal disputes to have emerged.
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The pub chain has claimed in court that it is entitled to separate payouts for each of its 760 venues.
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