Insurers paid £90m to support Covid-19 victims’ families & more…Keep up with what has been happening this week in our latest insurance news round-up…
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.
Research from GlobalData, a data and analytics company, has found that the demand for life insurance among high net worth investors has increased due to the growing concerns of the pandemic. It has been shown that the rise in demand was higher in Australia than in any of the other 19 countries that GlobalData have studied.