Keep up to date with the latest insurance and reinsurance news in our weekly news round-up…
Almost half of US and UK firms expect recession in 2020
Just under half of the US and UK firms expect their country to go into recession this year, although Chinese companies predict solid growth, a global survey of senior executives has uncovered.
Two of Australia’s biggest insurers, Suncorp and IAG, have temporarily stopped selling insurance policies across large swathes of Victoria and some areas in New South Wales affected by bushfires.
More than one in three small-to-medium-sized businesses (SMEs) (34%) plan to increase their stockpiling this year ahead of Brexit, with consequently more than a third increasing their insurance penetration.
The finance sector is a top performer in SIGWATCH’s ranking of brands most praised by activist organisations (NGOs ) for the second year in a row, due in large part to leading insurers’ pledges to divest from coal.
Analysts at S&P Global Ratings believe that the positive reinsurance pricing momentum seen at the recent January renewals is likely to be carried forward into the other upcoming renewals in 2020.