Category:

Eco/Invest/Demography

Hedge Funds remain an option for some insurers

The life/annuity segment raised its dollar exposure in hedge funds 5.8%, to $5.4 billion, and the property/casualty segment, 5.5%, to $6.6 billion.
Several qualities made hedge funds attractive to investors during the pandemic, including risk diversification and a low correlation to other asset classes. The hedge fund industry still lost approximately $44.5 billion in asset flows in 2020, according to the report, but that is nearly half the amount pulled out in 2019.

read more

UK COVID-19 BI claims exceed $1 Billion; About half of claims Paid

In total, 16,159 claims have been paid in full out of 37,702 claims that have been accepted by insurers for a final clearance rate of 42.86%.

Aggregate claims paid has risen by 7.9% since the last FCA report, which showed £701.4 million in claims paid. Insurers have made initial or final payments on 53.97% of BI claims that have been accepted by the carriers.
The payments are being made after the U.K. Supreme Court ruled in a BI test case in April. It found insurers are liable for the COVID-19-related business interruption claims of about 370,000 policyholders under policies written before the outbreak and never designed to cover pandemic claims.

read more