week commencing 08/11/20:

The gloom from ‘Lockdown the Sequel’ was partly lifted this week – so long as you are not an anti-vaxxer or a Trump supporter. And for our loyal followers, we’ve sifted through the insurance headlines to bring you our pick of the best.

Global output decline of $12tn too big for insurers

Global output could take a hit of $12tn by the end of next year due to the pandemic, a burden that would be far too high for insurers to cover, according to Swiss Re Chief Executive Christian Mumenthaler. External-link. [Reuters]

Insurance shares soar on Covid-19 vaccine hopes

Insurance stocks rose sharply as stock markets surged following news a Covid-19 vaccine could be ready by the end of this year. External-link. [Asia Insurance Review]

Carriers reveal Q3 results

A number of insurance businesses released their Q3 results this week. Beazley saw premium growth ahead of expectations, External-link. [Insurance Day] Allianz saw a y-o-y dip in GWP of around 5%, External-link. [Insurance Times] while Zurich had a positive P&C result offset by a fall in life premiums. External-link. [Insurance Business]

UK insurer RSA in talks to be acquired for £7.2bn
UK insurance group RSA is in talks with Canadian insurer Intact Financial and Danish insurer Tryg about a possible takeover, which values the company at about £7.2bn ($9.5bn). External-link. [Reactions]

Cinven and GIC buy Miller Insurance

Private equity firm Cinven and the Singapore sovereign wealth fund GIC have together agreed to purchase the specialty (re)insurance broker Miller from Willis Towers Watson for an undisclosed sum. External-link. [Insurance Day]

Ransomware attacks reach record-breaking levels

There were 34.1 million ransomware attacks detected this September — 110% more than the same period last year – while in the first three quarters of 2020 overall attacks were up 40% y-o-y. External-link. [Strategic Risk]

A captive solution for London needs to go beyond Lloyd’s

The Future of Lloyd’s Blueprint ll is exploring the idea of opening up the market to captives, but it should ensure the engagement of all sectors, especially the London company market. External-link. [Insurance Day]

Zurich to retrain 3,000 UK staff

Zurich plans to retrain 3,000 of its UK staff over the next five years to fill a looming gap in skills in robotics, data science and cyber security. External-link. [Insurance POST]

Why social media isn’t one-size-fits-all

Millennials and Gen Z have very different perspectives. Businesses need to understand the gap between them and tailor their communications accordingly, or risk failing to connect with an entire generation. External-link. [Financial Times]

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