Reinsurance News

Coronavirus news

Coronavirus news coverage of relevance to reinsurance and insurance markets.

All of our Covid-19 coronavirus news, analysis and insight related to insurance and reinsurance market impacts can be found below.

The coronavirus Covid-19 pandemic of 2019-20 resulted in significant disruption and threatened losses widely across the insurance and reinsurance markets.

Lloyd’s COVID-19 loss estimate may be conservative: Argenta

19th May 2020

Analysts at managing agency Argenta Group have argued that Lloyd’s has been conservative in its estimates of the insurance losses it will face due to the COVID-19 pandemic. The insurance and reinsurance marketplace previously said that it will pay customers between $3 billion and $4.3 billion in claims, out of ... Read the full article

COVID-19 turns S&P negative on global reinsurance

19th May 2020

With rising property and casualty reinsurance claims and failing investment returns, S&P Global Ratings expects the coronavirus pandemic to turn 2020 into a tough year for global reinsurers. As a consequence, S&P believes the sector's ability to earn its cost of capital in 2020 has visibly reduced, to almost negligible. Including assumptions ... Read the full article

London Market’s dominance remains, but share of global reinsurance is fading

19th May 2020

The London Market's share of the global commercial re/insurance market remained steady between 2010 and 2018, although its share of global reinsurance did decline by 1.7 percentage points during the period, according to analysis by the London Market Group (LMG) and McKinsey. In a new report released today, titled London Matters ... Read the full article

COVID-19 disruption could promote sustainable habits: Swiss Re

19th May 2020

The unprecedented disruptions to business operations and personal lifestyles caused by the COVID-19 pandemic could help people to develop more climate-conscious habits, according to Alison McLean, Head of Behavioural Research at Swiss Re. McLean noted that the pandemic has already resulted in extraordinary changes to behaviour, as 80-90% of people in ... Read the full article

Pandemic an opportunity to build better economies: WEF

19th May 2020

A new report by the World Economic Forum (WEF), in partnership with Marsh & McLennan (MMC) and Zurich Insurance Group, has argued that world leaders, businesses and policy makers have a unique opportunity to build better economies as they begin to recover from the COVID-19 pandemic. As part of the report, ... Read the full article

Beazley to raise $300m to support growth, capitalise on rates

18th May 2020

Specialist insurance and reinsurance group Beazley is raising capital in the form of a roughly $300 million equity placement, as it looks to support growth and to capitalise on rising rates being seen across its book. Beazley is the latest to look to a fresh capital raise to not just shore ... Read the full article

The majority of rated re/insurers can withstand pandemic shocks, says A.M. Best

18th May 2020

Global financial services ratings agency, A.M. Best, has said that initial stress testing shows that the majority of its rated insurers can withstand potential shocks to their balance sheets as a result of the ongoing COVID-19 pandemic. The ratings agency announced in March that it was in the process of ... Read the full article

FCA invites market participation to help resolve COVID-19 BI disputes

18th May 2020

The UK’s Financial Conduct Authority has begun seeking input from insurers and brokers to help address and understand ongoing contractual issues surrounding coronavirus-related business interruption cover. The regulator said earlier this month that it was seeking a court declaration to help resolve the wide-ranging issue. As was noted at the time, ... Read the full article

S&P revises PartnerRe outlook to stable from positive as Covéa deal collapses

18th May 2020

S&P Global Ratings has revised its outlook on Bermuda-based reinsurer PartnerRe to Stable from Positive following the collapse of its acquisition by French insurer Covéa. It was revealed last week that the $9 billion deal had been called off after owner EXOR declined to renegotiate the price in the context ... Read the full article

Munich Re sees a “variety of opportunities” amid pandemic: CFO Jurecka

18th May 2020

Munich Re sees a “variety of opportunities” available as it prepares to traverse the post COVID-19 marketplace, according to Chief Financial Officer (CFO) Christoph Jurecka. Speaking during a call alongside the release of the reinsurer’s Q1 results, Jurecka noted that there was a lot of demand of catastrophe reinsurance at ... Read the full article

Indian life insurance market set for 2020 decline off COVID-19: GlobalData

18th May 2020

Data and analytics company GlobalData expects the Indian life insurance industry to contract in 2020, declining by 0.9% compared to the 8.8% growth recorded in 2019. This revised forecast accounts for the aftermath of the global coronavirus pandemic. As per the latest data, the country's life insurance market is forecasted to grow ... Read the full article

L&H cat bonds most at risk from COVID-19: AM Best

15th May 2020

Analysts at AM Best believe that life and health (L&H) related catastrophe bonds face the greatest threat of losses from the COVID-19 pandemic, compared with other insurance-linked securities (ILS). The rating agency expects the overall impact of the pandemic on the ILS market to be limited, given that the underlying risk ... Read the full article

Skuld reports mixed fiscal 2020 results as CR hits 109%

15th May 2020

Marine insurer Skuld fell to its first negative technical result in 16 years as it’s combined ratio for the fiscal year hit 109%. This negative development was driven by a number of mid-sized and large claims, as well as one-off costs associated with previous year closure of Skuld’s Lloyd’s syndicate 1897. Skuld’s ... Read the full article

S&P optimistic on health results, warns of “serious test” for life insurers

15th May 2020

Analysts at S&P Global Ratings believe that US health insurers are likely to produce better-than-expected underwriting results in the first quarter of 2020 despite the COVID-19 pandemic. On the other hand, life insurers will face a “serious test” to their hedging strategy due to the impact of equity volatility and weakening ... Read the full article

Fitch revises Aegon outlook to negative off COVID-19

15th May 2020

Fitch Ratings has revised its outlook for Aegon to negative from stable following disruption to economic activity and financial markets from the coronavirus pandemic. A set of rating assumptions were used by Fitch to develop pro-forma financial metrics for Aegon that were compared with both rating guidelines defined in its criteria, ... Read the full article

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