Global Economy
Despite COVID Losses, Lloyd’s Underlying Underwriting Results See Big Improvement
While Lloyd's overall results in the second half were hit by £2.4 billion ($3.12 billion) of COVID-19 claims, the market's underlying underwriting performance saw a "huge improvement," which Chief ...
Consortium to Buy Aviva’s Singapore Business for $1.98B
British life, motor and home insurer Aviva said on Friday it will sell its majority shareholding in its Singapore business to a consortium led by Singapore Life for S$2.7 billion ($1.98 billion), as ...
Greenlight Re Triggers ‘Refresh’ of Operations With Executive Changes
Greenlight Capital Re made some major executive changes in what the company is dubbing a "refresh" of its operations. The Cayman Islands-based specialist property and casualty reinsurance company ...
ACORD’s Innovation Tools Experiencing Soaring Reinsurance Demand
ACORD, the standard setting body for the global insurance industry, is experiencing a massive jump in global reinsurance and other industry interest in its digital products and services, CEO Bill ...
Chubb Debuts Global Platform Designed to Simplify Distribution Through Partners’ Digital Channels
Chubb is debuting a global platform designed to simplify and streamline the distribution of its insurance products through partners' digital channels globally. The company refers to the offerings as ...
More Negative Rating Actions Coming for Reinsurers Over the Next Year: S&P
Despite the global reinsurance sector's "robust capital position" and "very high rate rises," which are expected to "carry on for the remainder of year, and continue for major renewals in 2021," ...
With Hardening Market and Higher Rates, Swiss Re Offers Positive Renewal Outlook
Swiss Re said it sees a positive outlook for renewals as the market continues hardening and rates increase. "Even before the COVID-19 crisis, most major markets were operating at below-average ...
Wary Credit Insurers Pull Back, Leaving Suppliers and Retailers in a Bind
Gold Medal International is sitting on millions of dollars worth of socks at its North Carolina warehouse that it can't ship to stores. The reason? The 66-year-old family-owned sock maker can't get ...