Global insurer Zurich has announced a 40% dip in business operating profit (BOP) for the first half of the year to $1.7 billion, driven mostly by an impact of $686 million related to the ongoing COVID-19 pandemic. As well as the decline in BOP, Zurich has today reported a 42% contraction in net income for… Continue reading Zurich’s Operating Profit Falls 40% in H1 on COVID-19 and Elevated Cat Losses
Tag: pandemic losses
Chubb Outlines Plan for U.S. and Insurers to Team Up for Future Pandemic Costs
Chubb Ltd. proposed that insurers and the U.S. government work together to cover future business-interruption losses from pandemics, as the industry faces a flurry of lawsuits over costs related to coronavirus-related shutdowns. Chubb, the large global insurer led by Evan Greenberg, announced Wednesday a plan for a “public-private partnership” that works differently for small businesses… Continue reading Chubb Outlines Plan for U.S. and Insurers to Team Up for Future Pandemic Costs
Lloyd’s of London Seeks Estimates for Coronavirus-Related Losses
Lloyd’s of London has asked its member firms to provide estimates of their potential current and final losses from coronavirus, a spokesman said on Tuesday, to help the insurance market understand its possible overall losses from the impact of the pandemic. Lloyd’s was working with British and overseas regulators to formulate its response to the… Continue reading Lloyd’s of London Seeks Estimates for Coronavirus-Related Losses