CyberCube provides cyber analytics tool for broker market

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Cyber risk analytics firm CyberCube has announced the launch of a new software-as-a-service application designed specifically for insurance brokers.

The company’s Broking Manager application is built to help brokers quantify, understand and explain to their clients the sources and potential impact of cyber risk exposures. Broking Manager is aimed at both generalist and cyber specialist brokers.

Broking Manager enables brokers to instantly produce a cyber financial loss report on millions of companies, while providing information to help brokers articulate their clients’ cyber exposures, CyberCube said. Broking Manager also lets brokers educate their clients on potential loss classes, recent cyber events,

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Mitsui Sumitomo outlook ‘negative’ following coronavirus blow

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Mitsui Sumitomo Insurance (MSI) has received a negative outlook from Fitch Ratings, based on the impact of the coronavirus pandemic on the company’s financial strength and solvency.

According to a ratings advisory from Fitch, MSI’s outlook, insurer financial strength (IFS) rating and issuer default rating (IDR) have all been revised to negative from stable. Fitch has affirmed MSI’s IFS rating at ‘A+’ (strong), its IDR at ‘A’ and its US dollar subordinated debt at ‘A-’.

The insurer’s negative outlook, according to Fitch, reflects increased pressure on its capitalisation from stock-market volatility, a persistently low interest rate environment, and uncertainty and

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Talanx Group enjoys SG$341.6 million in Q1 net income

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Major European insurance group Talanx is looking like a rare breed during this particularly challenging time, recording a €223 million (around SG$341.6 million) group net income in the first quarter of the year despite all its divisions being impacted by the coronavirus outbreak.

Described as “roughly on a par” with last year’s result, the Q1 net income signifies a slight decline from the €235 million (around SG$360.0 million) posted in the same three-month span in 2019. Operating profit slid 9.3{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} to €559 million (around SG$856.4 million) while net investment income went down 8.6{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f}.

According to Talanx, large losses for the

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Argo stung by more than 120{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} dive in year-on-year net income

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Specialist insurer Argo Group International Holdings, Ltd. has been dealt a blow in the first quarter of 2020.

In the three months ended March 31, the Bermuda-headquartered group posted a net loss of US$18.8 million (around SG$26.5 million) – a more than 120{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} dive from last year’s US$91.2 million (around SG$128.8 million) net income.

While Argo enjoyed a higher net investment income, at US$35.5 million (around SG$50.15 million), the international underwriter suffered a US$13.9 million (around SG$19.63 million) underwriting loss in the period. The figure represents a 162{3c4481f38fc19dde56b7b1f4329b509c88239ba5565146922180ec5012de023f} plunge from the company’s underwriting result in Q1 2019.

Meanwhile operating income

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