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CEO David Long said he expects the greatest impact of Covid-19 to be on the group’s investment portfolio.
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The carrier reported no material coronavirus claims for Q1 and beat S&P analysts’ earnings-per-share consensus by 34 percent.
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About 75 percent of this figure is expected to come from BI losses.
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The bond priced at the top end of forecasts and 16 percent above initial targets, according to sources. -
Dan Larkin previously worked at Allianz as midcorp program director, Northeast zone.
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The carrier said its reinsurance protection would respond to the loss, but recoveries may be limited.
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The companies warn that the pandemic will likely cause losses and devalue their books and investments.
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The regulator issued a notice after receiving complaints about insurers trying to dissuade policyholders from filing claims.
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The carrier said its solvency ratio remains within its target range.
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The lawsuit will be a test case for property insurers holding that business interruption policies do not cover pandemic shutdowns.
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Pricing has moved to the top of the guidance range, sources said.
