International
Watsa’s Fairfax Financial Holdings Loses $1.3B in Q1
Prem Watsa's Fairfax Financial Holdings lost close to $1.3 billion during its first quarter, due largely to unrealized losses on investments and market volatility over the coronavirus pandemic. The ...
Allianz SE Withdraws 2020 Profit Target Over COVID-19 Uncertainties
Allianz SE withdrew its forecast for the year as Europe's biggest insurer struggles with the fallout from the Covid-19 pandemic. Given the economic uncertainty, the board "does not assume that ...
Argo Group Experiences Both International and U.S. COVID-19 Losses
Argo Group International Holdings expects pretax net catastrophe losses of $29 million during the 2020 first quarter, the bulk of which stems from costs relating to the COVID-19 pandemic. The ...
Coronavirus-Related Event Cancellations Shift Swiss Re’s Q1 to a Loss
Reinsurer Swiss Re swung into a net loss in the first quarter of 2020 as the impact of the coronavirus outbreak began to bite, it said on Thursday. The Zurich-based company booked a hit of $476 ...
Rough Sailing Ahead for Cruise Ship Passengers Seeking COVID-19 Class Action Suits
After two passengers on their luxury cruise tested positive for Covid-19 in March, Emilio and Barbara Hernandez were so frantic to get off the ship, they wrote a note to the captain. The Costa ...
AXA, Zurich, QBE Among Carriers Facing Claim Threat From UK Hospitality Sector
Top insurers such as AXA , RSA, QBE and Zurich face a potential multi-million pound lawsuit from British pubs, hotels, restaurants and leisure groups, who allege that legitimate business interruption ...
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 ...
Venture Funding Drop Leaves Digital Insurers Vulnerable to Takeover
Some digital insurers will be in serious jeopardy as standalone companies in the months ahead, thanks in part to a big coronavirus crisis-related drop in venture funding. That reality, in turn, could ...