LLOYD's announced the appointment of Uwe SCHOBERTH as US Market Development Director, a newly created role focused on expanding strategic relationships with retail, wholesale and reinsurance brokers.
GUY CARPENTER and MARSH - two business units of MARSH & McLennan - announced the appointment of Dean KLISURA as President of GUY CARPENTER, effective October 1, 2020. He will report to Peter HEARN, CEO of GUY CARPENTER.
According to Fitch, this decision reflects "SCOR's "Favourable" business profile within the global reinsurance sector, "Very Strong" risk-adjusted capitalization and "Strong" financial performance."
Generali signs the request of European business leaders and investors calling on EU Heads of State and Government to reduce domestic greenhouse gas emissions by at least 55% - compared with 1990 levels - by 2030, raising the previously envisaged target of 40%.
Claims Corporation Network (CCN) and eviid have entered into a partnership in order to support insurance companies and fleet-owners with a capability to reduce bogus (false), or unsubstantiated claims through the use of real time digital imagery allowing detection of manipulated digital media.
SCOR has successfully placed a dated subordinated Tier 2 notes issue in the amount of EUR 300 million. SCOR intends to use the proceeds of the issuance for general corporate purposes.
Hannover Re expects to see significant price increases spanning the various lines of property and casualty reinsurance in the treaty renewals as at 1 January 2021. The key drivers here are the strains incurred by primary insurers and reinsurers in connection with the Covid-19 pandemic, a further drop in interest rate levels and the large losses recorded over the past three years.
Swiss Re announced further measures to support the transition to a low-carbon economy, including stepping up to a USD 100 per tonne internal carbon levy, which will increase to USD 200 by 2030.
The (re)insurance industry is navigating one of the most significant periods of change in recent times which is altering perceptions of risk across the sector; the impact of COVID-19, the first globally systemic insurance loss, has put pressure on a marketplace already addressing challenges on multiple fronts, Guy Carpenter said, during media briefing 'The Changing Nature of Risk'
Thierry PELGRIN has joined the underwriting team of Helvetia Active Reinsurance St.Gallen, Switzerland, being appointed Senior Underwriter responsible for France and North African markets. He joined the Helvetia team on June 1st, 2020.
Lloyd's confirmed it expects to pay out up to GBP 5 billion in COVID-19 customer claims on a gross basis, with the publication of its 2020 Half Year Results.
At its annual Investor Day, SCOR's Executive Management team, led by Denis Kessler, presents an overview of the first year of the "Quantum Leap" strategic plan.
Following rate improvements in many markets, and particularly in loss-affected segments, Swiss Re expects further rate hardening across all lines of business. At the same time, the reliance on underwriting profits increases in the low interest rate environment.
Guy Carpenter & Company, LLC, a leading global risk and reinsurance specialist and a business of Marsh & McLennan Companies (NYSE: MMC), today announced the launch of its new Indonesia Flood Model. The fully probabilistic model provides countrywide coverage and enables insurers to assess their exposure to floods, the most frequently occurring natural peril in the country.
The PZU SA Supervisory Board decided to appoint Malgorzata Kot and Krzysztof Szypula to the company's management board, entrusting them with the functions of PZU SA management board members.
RENOMIA has become the owner of a 100% business share in the specialised brokerage company RISKON.
The Vienna Insurance Group is now starting a new pilot project and will introduce a motor insurance offer with fully digital distribution and claims settlement on the Polish market by the end of year 2020. The heart of the project is an IT platform that allows rapid and flexible adaptations to meet changing customer needs and market conditions. If the pilot project is successful, an expansion to other VIG countries is planned.
AM Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" of Gulf Insurance Group K.S.C.P. (GIG) and its subsidiary, Gulf Insurance and Reinsurance Company K.S.C. (Closed) (gig-Kuwait) (both domiciled in Kuwait). The outlook of these Credit Ratings (ratings) is negative.
As for most companies, Covid-19 has left a mark on Claims Corporation Network's (CCN's) results as well. The COVID-19 crisis caused one of the most severe economic and financial market turmoil's and while financial markets have rallied in the second quarter of 2020, the economic recovery remains fragile. However, the fact that CCN's performance remained stable in a challenging first half year reinforces our resilience.
Zurich Insurance Group (Zurich) is ramping up the transformation of its global business to meet the rapidly changing needs of consumers, launching a new unit to expand digital services worldwide and create a more intimate connection with its customers and partners.