COVID-19 loss reports and reserves reported by insurance or reinsurance companies
This table documents publicly reported COVID-19 pandemic-related losses, IBNR reserves and estimates from insurance and reinsurance companies.
The data was originally collected by Zurich-based financial services advisory PeriStrat LLC, operated by Hans-Joachim Guenther, and has now been augmented and updated where we can by Reinsurance News.
As insurance and reinsurance companies report new totals for their estimates of actual losses caused by the COVID-19 coronavirus pandemic, and their loss reserve setting, we will update this list and the running total.
As of October 20th, 2020, the running total is: US $23.3 billion
Read all of our reinsurance news coverage related to the COVID-19 coronavirus pandemic here.
- Where we can, these Covid-19 insurance and reinsurance loss estimates are taken net of reinsurance recoveries. However some companies do not disclose the effects of reinsurance, meaning we cannot always report the net claims.
- Figures can overlap. Reported COVID-19 losses of insurers might also be reflected in reinsurance company reported losses due to protection agreements.
- Lloyd’s published a range. Figure above reflects the mid-point. Plus, H1 2020 net numbers include a forward-looking statement about losses of UDS780m to come; overall 40% reinsurance recovery is assumed.
- Some companies’ reported losses might overlap with Lloyd’s market number as these re/insurers operate at Lloyd’s as well as internationally, e.g. Hiscox, Beazley, ARGO etc.
- Note: FM Global has been removed as they did not report any loss estimate and the total limit of communicable disease coverage did not compare well with loss estimates published by the rest of the market.
- Generali: net effect from loss provisions, net investment income drop but offset by lower general claims fq, excl. EUR 100m Extraordinary International Fund for the pandemic emergency.
- Aviva: said that 63% of Covid-19 gross loss will be recovered from reinsurers. The loss estimate above considers the net loss only.
- QBE: H1 2020 numbers include forward- looking statements about potential further Covid-19 losses of about USD 265m.