week commencing 18/04/21:

In all the uproar this week surrounding the proposed breakaway of football’s European Super League, we’ve kept our eye on the ball to bring you our pick of the insurance stories.

Munich Re Q1 profits up 172%

Munich Re has reported a preliminary Q1 net profit of EUR600m, a rise of 172% on the same period last year, despite higher-than-average major losses during the quarter. External-link. [Business Insurance]

Parametrics trigger investor attention

Start-up insurers on both sides of the Atlantic that offer products relying on parametric triggers are attracting significant investment. External-link. [Financial Times]

Summer fun cancelled due to lack of insurance

Boomtown has joined the likes of Glastonbury and Download by cancelling its festival this year, saying the lack of a government-backed COVID-specific insurance scheme has left it with no other option. External-link. [BBC News]

Hospitality groups litigate to force COVID BI payments

A number of high-profile UK hospitality groups will seek declaratory court judgments in an attempt to secure payouts from their insurers for business interruption losses due to COVID-19. External-link. [Financial Times]

A&H market finally recovers

Rates for accident & health are rising by up to 10% after a period in which the class trailed behind industry-wide pricing changes. External-link. [Insurance Insider]

Wary insurers watch crypto craze from the sidelines

Insurers have yet to catch up with the growing acceptance of cryptocurrencies, with many reluctant to underwrite the risks, despite booming demand for protection of digital assets. External-link. [Insurance Journal]

FCA appoints first ESG chief to lead sustainability agenda

The Financial Conduct Authority has appointed Sacha Sadan to be its first director of environmental, social and governance to spearhead the regulator’s approach to sustainable finance. External-link. [Reuters]

Fidelis backs new marine MGA

Fidelis will provide $100mn of capacity for a new MGA focused on marine business, which will be led by London market veteran Clive Washbourn. External-link. [Insurance Insider]

Willis Towers Watson vows to end hot air by 2050

Willis Towers Watson has committed to delivering net zero greenhouse gas emissions by 2050 at the latest. External-link. [Insurance Business]

They think it’s all over – comms lessons from the ESL

Failure to set a strategy and control the messaging was one factor in the rapid demise of the European Super League, External-link. [BBC News]. In the absence of a positive rationale, negativity fills the void. External-link. [The i]

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