Content from L.S. Howard
SCOR CEO Takes 30% Bonus Cut; 2019 Dividend Scrapped on COVID-19 Crisis
French reinsurer SCOR announced that its Chairman & CEO Denis Kessler will receive 30 percent less in his annual variable compensation for 2019, which is equal to €325,260 (US$354,333). In ...
Activist Shareholder to Watford: Sell Yourself or Go Into Runoff
Capital Returns Management LLC, the fifth largest shareholder of Watford Holdings Ltd., is urging the reinsurer to sell itself or be put into runoff. In a letter to Watford's board of directors, the ...
Generali Sees Net Profit Plunge Due to COVID-19-Related Investment Losses
Generali's first-quarter net profit plunged 84.8 percent to €113 million ($124 million) from €744 million ($815.5 million) reported in Q1 2019 as a result of the impact of the COVID-19 pandemic ...
For Third Point Re, COVID-19 Hurts, but Underwriting Profit Reached for First Time
Third Point Re reported a net loss of $183.6 million for the first quarter of 2020 due to COVID-19-related investment volatility – but the company still had big reasons to celebrate. For the first ...
Lloyd’s COVID-19 Claims Payouts to Rival 9/11 Terror Attacks
Lloyd's of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result of the COVID-19 pandemic. This payout is on par with the Sept. 11 terrorist attacks, which cost ...
Hiscox Policyholders Will Sue Over COVID-19 Business Interruption Exclusions
Angry Hiscox policyholders have formed an action group in the UK to fight Hiscox's pandemic exclusions to its commercial business interruption policies. More than 300 UK policyholders have joined the ...
Aon’s C-Level Execs, Most Employees Hit With Pay Cuts Due to Coronavirus Uncertainties
Aon announced it will temporarily cut the pay of the company's named executive officers by 50 percent in response to the COVID-19 crisis. In addition, 70 percent of its global workforce will see a 20 ...
Suddenly Everybody Wants Pandemic Cover
In the midst of this pandemic, insurance buyers and their brokers are looking for COVID-19 pandemic coverage, which is like buying property insurance when your house is on fire, according to Tracey ...