Keep up with what has been happening this week in our latest insurance news round-up…
European stocks were lower before the major speech by the chair of the US Federal Reserve at the Jackson Hole summit of central bankers. London’s FTSE 100 opened 0.4% lower with other European stocks losing up to 0.4% also in the past few days.
Aon and Willis Towers Watson have announced that their shareholders have approved all the proposals needed to complete their merger. They intend to combine in an all-stock deal around $30 billion in the first half of 2021.
New research from Swiss Re has shown that the insurance resilience will be hit; predicting a 20% drop in global resilience due to the coronavirus pandemic. They have also found that the global insurance protection gap for different types of risks such as health and natural catastrophe has risen to a record high of $1.24trn last year.
During the peak of the coronavirus pandemic, it has been found by the Association of British Insurers (ABI) that around 7000 life insurance claims have been made between the 1st March and 31st May leading to a total of £90 million paid to support families of people of died due to the virus.
In a new study by YouGov it has shown that 64% of people believe that cyclists should have mandatory cyclist insurance especially with the rise of cyclists due to the coronavirus pandemic; with 41% against the idea.