Nearly £1.2 billion – £1,183,788,990, to be exact – has now been paid by insurers following the business interruption (BI) test case in the UK, according to the latest numbers published by the Financial Conduct Authority (FCA).
FCA’s November update shows £312,215,762 in initial or interim payments, while the total value of compensation for BI claims where final settlements have been agreed and paid stands at £871,573,228.
Based on data collected by the regulator as of November 08, here are the figures per insurer:
|
Firm name |
Number of BI claims for COVID-19 related loss that have been accepted |
Number of BI claims where the insurer’s claim validity decision is pending |
Number of BI claims where an initial or interim payment has been made |
Number of BI claims where full payment has been made |
|
Accredited Insurance (Europe) Ltd |
12 |
78 |
3 |
3 |
|
Ageas Insurance Limited |
35 |
47 |
4 |
35 |
|
Aioi Nissay Dowa Insurance UK Limited |
12 |
0 |
0 |
2 |
|
Allianz Global Corporate & Specialty SE |
6 |
0 |
1 |
5 |
|
Allianz Insurance plc |
2307 |
26 |
187 |
1997 |
|
Arch Insurance (UK) Ltd |
1258 |
51 |
1 |
913 |
|
Argenta Syndicate Management Limited |
1109 |
21 |
8 |
1098 |
|
ArgoGlobal SE |
316 |
0 |
24 |
98 |
|
Aspen Insurance UK Limited |
6 |
6 |
0 |
0 |
|
Asta Managing Agency Ltd |
13 |
12 |
0 |
13 |
|
Aviva Insurance Limited |
1983 |
94 |
120 |
1337 |
|
AXA Insurance UK plc |
3099 |
84 |
508 |
1611 |
|
AXIS Managing Agency Limited |
3367 |
182 |
61 |
2819 |
|
AXIS Specialty Europe SE |
458 |
98 |
9 |
378 |
|
Beazley Furlonge Limited |
75 |
0 |
1 |
67 |
|
Brit Syndicate Limited |
31 |
0 |
0 |
24 |
|
Canopius Managing Agents Limited |
1334 |
15 |
397 |
606 |
|
Catlin Underwriting Agencies Ltd |
55 |
27 |
5 |
36 |
|
China Taiping Insurance (UK) Co Limited |
272 |
75 |
8 |
111 |
|
Chubb European Group SE |
62 |
0 |
8 |
20 |
|
Covea Insurance plc |
2791 |
84 |
38 |
2609 |
|
Coverys Managing Agency Ltd |
427 |
87 |
63 |
380 |
|
Ecclesiastical Insurance Office Plc |
36 |
0 |
6 |
15 |
|
ERGO Versicherung Aktiengesellschaft |
253 |
155 |
8 |
225 |
|
Fairmead Insurance Limited |
948 |
9 |
0 |
948 |
|
Faraday Underwriting Limited |
51 |
5 |
0 |
43 |
|
Great Lakes Insurance SE |
11 |
18 |
1 |
10 |
|
HCC International Insurance Company Plc |
6 |
7 |
0 |
2 |
|
HDI Global SE |
102 |
41 |
0 |
13 |
|
HDI Global Specialty SE |
692 |
204 |
333 |
116 |
|
Hiscox Insurance Company Ltd |
10555 |
1931 |
1582 |
3881 |
|
Hiscox Syndicates Ltd |
80 |
22 |
1 |
77 |
|
Liberty Mutual Insurance Europe SE |
61 |
0 |
0 |
57 |
|
Markel International Insurance Company Limited |
867 |
55 |
63 |
705 |
|
Mitsui Sumitomo Insurance Company (Europe) Ltd |
0 |
1 |
0 |
0 |
|
MS Amlin Insurance SE |
538 |
0 |
26 |
198 |
|
MS Amlin Underwriting Limited |
2845 |
0 |
268 |
1564 |
|
Navigators Underwriting Agency Limited |
0 |
0 |
0 |
0 |
|
Probitas Managing Agency Limited |
0 |
5 |
0 |
0 |
|
QBE Europe SA/NV (UK Branch) |
53 |
0 |
0 |
3 |
|
QBE UK Limited |
2361 |
0 |
106 |
1185 |
|
QIC Europe Limited |
543 |
0 |
58 |
314 |
|
Royal & Sun Alliance Insurance Ltd |
1964 |
48 |
148 |
1454 |
|
Swiss Re International SE – UK Branch |
0 |
5 |
0 |
0 |
|
The Channel Managing Agency Limited |
9 |
7 |
0 |
8 |
|
The New India Assurance Company Limited |
905 |
234 |
44 |
456 |
|
Travelers Syndicate Management Limited |
7 |
3 |
0 |
2 |
|
XL Catlin Insurance Company UK Limited |
531 |
34 |
8 |
402 |
|
XL Insurance Company SE |
67 |
1 |
1 |
34 |
|
Zurich Insurance |
103 |
49 |
35 |
24 |
The FCA said final payments have been made in 25,898 claims, while 4,134 are still being finalised. Initial payments have been made for the latter.
