Global Insurtech News Bites

We rounded up some snippets, just to save your time doing all that Google searching.

SYNERGY STRATEGIC INDIA

Synergy Strategic Solutions & iNube Software Solutions, a leading provider of Digital Insurance Solutions announced plans to enter into a strategic partnership to expand its current offering for the Insurance sector from end-to-end consulting and solutions, with niche digital products and micro platforms that enable e-insurance.

The partnership with iNube will not only enable Synergy strengthen its offering but also market these products and solutions to smaller, new age Insurance companies across Hong Kong, Singapore, Malaysia, Indonesia, Japan, Vietnam & Thailand region.#

LOCKTON MOVES UP

Working from home might not last forever. Lockton is moving to larger office accommodation within Bristol in a deal advised by Savills, reports Insider Media.

The insurance brokerage is relocating from North Quay House to the newly refurbished prime Bristol waterside location of Two Trinity Quay. It will occupy the penthouse sixth floor at Two Trinity Quay, taking 5,287 sq ft of office space on a 17-year lease term.

INSURANCE AUSTRALIA GROUP

IAG has set aside a big chunk of cash to cover BI claims. This from the company results statement recently;

“While our business has been relatively stable, our profitability was affected by the pre-tax $1.15 billion expense we announced in November for potential business interruption claims relating to COVID-19. Our business interruption policies were never intended to cover pandemics. However, following the Supreme Court of NSW Court of Appeal decisionon the COVID-19 business interruption test case, we conducted a detailed review to determine our potential exposure, and took action to strengthen ourbalance sheet.

This has helped ensure we remain well capitalised and we have today announced a dividend of 7 cents per share which represents a payout ratio of 37% of cash earnings. Over the past few months, we have put in place measures which I believe will further strengthen the business.”