Beazley revises Covid-19 claims estimate up to $340m
This is up from April’s $170m prediction, however, the insurer said it did not expect the outcome of last week’s FCA business interruption judgment to have a material impact.
Beazley is estimating a Covid-19 impact on claims of $340m (£265.6m) following further analysis of the impact of the virus.
In April, as it reported a pre-tax loss, it estimated a hit of $170m across its first party business (contingency, accident and health, marine, property and reinsurance).
In a trading update the insurer detailed that in determining this figure, it made a number of assumptions including that events would resume in September this year which would lead to a normalisation in
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