Global Economy
Allianz Q2 Net Profit Dropped Nearly 30 Percent, Shaped by Coronavirus Uncertainty
German insurer Allianz on Wednesday posted a 29% fall in net profit in the second quarter from a year earlier and shied away from updating its full-year profit guidance as the coronavirus pandemic ...
AIG President Zaffino: COVID-19 Creating ‘Flight to Quality’
AIG President and Chief Operating Officer Peter Zaffino said that the insurer has seen accelerated rate improvements and other gains as clients react to the ongoing COVID-19 pandemic. "We believe ...
Covea Investment Helps Normalize Exor Relationship After It Abandoned PartnerRe Acquisition
Italy's Exor said on Monday that French insurer Covea had agreed to invest a total of 1.5 billion euros ($1.8 billion), partly in entities managed by PartnerRE, after walking away from a deal to buy ...
Aviation Sector Appears to Have Biggest Pandemic Default Risk
The aviation sector carries the biggest risk of corporate default as a result of the coronavirus pandemic, according to a survey of insurers published by broker Gallagher on Tuesday. Only 29% of ...
Mortgage Default Risk Set to Rise With Hurricane Risk
The 2020 Atlantic hurricane season is forecast to be among the worst. And that has Maryland Smith's Clifford Rossi taking a close look at the potential financial risks. Rossi, professor of the ...
The Hartford Produces Q2 Profit; Announces Job Cut, IT Investment Plans
The Hartford survived second quarter COVID-19 related challenges by producing an overall profit, though the property/casualty insurer announced plans to reduce expenses through job cuts and other ...
Executives On The Move at Canopius and Guy Carpenter
Specialty insurer Canopius named a new head of its Credit & Political Risk team. Guy Carpenter & Company appointed a new managing director of its Global Risk Solutions division.
Chubb CEO Greenberg Laments U.S. Govt. Covid-19 Setbacks, Promotes Diversity Initiatives
Chubb's employees have begun to return to their offices in many countries around the world as governments have brought the coronavirus pandemic under control. That's been a problem in the United ...
COVID-19 Couldn’t Stop Robust Quarter for ILS Issuance: Aon
Usage of insurance linked securities the first six months of 2020 is already 20 percent higher than all of 2019, underscoring the sector's momentum and resilience even with the coronavirus pandemic, ...