Covéa cuts losses but underwriting deficit grows

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Covéa Insurance has posted an £87.3m loss after tax for last year with underwriting losses across commercial, personal and speciality lines. The total, while still in the red, was a 40% cut on the £145.5m deficit in 2022. Investment returns were up, swinging from a loss of £29.6m to a profit of £37.1m. However, the … Read more

Allianz hails “milestone” with updated trade credit offering

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Allianz Trade UK has refreshed its trade credit insurance product suite. Trade credit insurance is a B2B insurance product designed to cover the non-payment risks of trade receivables in the event a customer cannot pay under the terms of an agreed contract. FeaturesThe policy wording now includes fully retrospective cover for approved buyer risks. Confiscation, expropriation, … Read more

UN leaders urge ‘wholesale reform’ of global financial architecture

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Addressing a high-level meeting of the General Assembly on debt sustainability, António Guterres outlined the crippling impact of debt on developing economies. “No example of the international financial architecture’s failure is more glaring than its handling of debt. The last four years have been nothing short of a debt disaster,” he said. He noted that … Read more