property catastrophe

Insurance and reinsurance broking group BMS has successfully expanded its US property catastrophe reinsurance broking footprint, as its BMS Re division has now completed its acquisition of Trean Intermediaries.

Insurance and reinsurance broking group BMS is expanding its US property catastrophe reinsurance broking footprint, as its BMS Re division has acquired Trean Intermediaries.

This morning, global insurance company AXA has shown that business interruption impacts from the COVID-19 pandemic continue to be felt, with the company announcing a EUR 300 million settlement offer for French restaurants.

The recent ruling from the UK Supreme Court, that found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals, is not expected to drive significant additional losses through to reinsurance, Fitch Ratings has said.

After Friday’s ruling from the UK Supreme Court found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals, insurance carriers RSA Group and QBE, have said that at least a portion of the increase in gross pandemic losses due to the ruling are likely to be […]

Hiscox Group, the insurance, reinsurance and third-party capital backed underwriter headquartered in Bermuda, is again the first to release a statement following this morning’s announcement that the UK Supreme Court found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals.

The UK Supreme Court has found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case appeals.

Reinsurance and also retrocessional exposure to the COVID-19 pandemic may rise if the final judgement in the UK Financial Conduct Authority’s (FCA)’s business interruption insurance test case goes against the industry.

RSA Group, the UK based general insurance company, said today that it has exhausted the retention under its aggregate reinsurance program, meaning that any major catastrophe loss events in Q4 will fall to its reinsurance panel.

Following yesterday’s judgement by the UK High Court that found largely in favour of insurance policyholders in the Financial Conduct Authority’s (FCA)’s business interruption insurance test case, Australian insurer QBE has said it could recover up to US $100 million of UK BI claims from its catastrophe reinsurance.