Lancashire Group which is based in Bermuda has released its Trading Statement for the first quarter of 2020. Some extracts below: Trading statement highlights • Resilient business
Read moreIn response to press speculation, Hiscox has announced today that it has “sufficient capital” to meet its Covid-19 exposures, however, it is “evaluating” a possible raise of extra capital. "The COVID-19 pandemic has resulted in unprecedented global economic uncertainty. The Hiscox Board believes the Group has sufficient capital to meet expected liabilities arising as a result of exposures to the pandemic."
Read moreWe thought it would be interesting to report the remarks of David Flandro, the highly respected Head of Analytics of Hyperion, an international insurance broking firm, as made in a call to Morgan Stanley's analysts earlier this month*, saying that he thought it was difficult to see how the event [COVID-19] could approach the size of the 2017 hurricanes Harvey, Irma and Maria and he went on to say that in the absence of government intervention, COVID-19 will be a manageable impact for the insurance industry. Hyperion group comprises among others the firms Howden, RKH and Dual.
Read moreThere is undoubtedly significant uncertainty concerning the impact of COVID-19 as this is the proverbial “black swan” event which we are still in the middle of - both personally from the point of view of the lockdown and financially from the point of view the global (re)insurance industry. The actual financial and societal consequences will unfold over the forthcoming year, and as a result, it is difficult - if not impossible - to accurately predict what the ultimate result will be to Lloyd’s and the syndicates we support.
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