By Amir Sadiq Philadelphia Insurance Companies (PHLY) has pledged $1m to organisations and community relief funds leading response and recovery efforts for those affected by the coronavirus pandemic. The contribution will go to organisations across the country addressing food and economic insecurity and those delivering critical medical and social services. […]
Spotlight
British insurance giant projects $195m in COVID-19 claims for GI business
By Ranamita Chakraborty Aviva estimates that its non-life COVID-19 related claims would amount to GBP160m ($195m) net of reinsurance, based on analysis as at 30 April. Most of the claims are expected to be in business interruption and travel insurance, and allows for favourable impacts in other product lines. According […]
India:Around 1,000 life insurance branches may face closure by mid-2021
By Anoop Khanna Indian life insurers may close down nearly 1,000 branches as digital sales platforms gain in prominence due to movement restrictions from the COVID-19 pandemic. There are currently 11,600 life insurance branches across the country. According to a report by Moneycontrol.com, life insurers are working on several fronts […]
Reinsurers brace for Pandemic-fueled spate of mortgage losses – AM Best
Leave a comment and share With mortgage delinquency rates expected to dramatically increase due to COVID-19 pandemic-related forbearance and job loss, AM Best has explored the spillover effect into the mortgage-related activities of the reinsurance industry. Reinsurers have been assuming incrementally more U.S. mortgage risk from two main sources: Fannie […]
Most insurance companies well capitalised to withstand pandemic – AM Best
Leave a comment and share Chuks Udp Okonta Initial stress testing conducted by AM Best to gauge the preliminary impact from the COVID-19 pandemic on its rated insurance companies’ financial strength found that most insurers’ capital levels provided an adequate buffer against a potential shock to their balance sheets, Inspenonline […]
COVID-19 leads to negative outlook for global reinsurers
By Ranamita Chakraborty Pandemic-related losses combined with volatile capital markets and lower investment returns mean that 2020 is expected to be a difficult year for global reinsurers. According to an analysis published by S&P Global Ratings, the global reinsurance sector is unlikely to meet the agency’s earnings expectations for 2020. […]
FBN General Insurance pays N4.56m claims to Akesan fire victims
From left: Mrs. Taiwo Sherifat, Akesan market Fire Victim; Mrs. Shola Osho, Group Head, Business Development, FBN General Insurance; Mrs. Adepeju Alegbeleye, another Akesan market fire victim during the FBN General Insurance presentation of cheque in settlement of claims to the victims of Akesan Market fire incident recently. Leave a […]
Old Mutual celebrates 175 years of impacting lives across the globe
Mrs. Alero Ladipo Leave a comment and share Chuks Udo Okonta Old Mutual Limited celebrates 175 years of impacting lives across the continent. The key to Old Mutual Limited’s success, according to Vuyo Lee, Old Mutual Group Chief Marketing Officer, is that the company has always taken the long-term view […]
Many have motor insurance but don’t know how to make claim
Tope Adaramola The Nigerian insurance industry has continued to see the need to put insurance education at the front burner of its consideration in recent times. Operators have resolved not to be lax anymore about telling all those who care that insurance remains the last hope of the common man, […]
What Sunday Thomas should do for insurance business – Experts
Thomas Leave a comment and share Chuks Udo Okonta Since Sunday Thomas was appointed as the Commissioner for Insurance by the federal government, experts have being point-out what he should to take the insurance industry to lofty heights. Adegboyega Adepegba & Co. Legal Practitioners, Arbitrators, Trainers and Consultants, while congratulating […]
