We use cookies to improve this site and enable full functionality. You can change your cookie settings at any time using your browser. Our cookie policy.

Latest set of business interruption claims numbers now out

Latest set of business interruption claims numbers now out | Insurance Business UK

Latest set of business interruption claims numbers now out

It’s that time of the month again when the Financial Conduct Authority (FCA) publishes claims information gathered from insurers affected by the UK business interruption (BI) test case.

According to the latest set of numbers, a total of 31,478 claims have been fully settled while 2,798 are still being finalised. The FCA said the aggregate value of the interim or initial payments made stands at £303,052,465. Final settlements amount to £1,046,446,929.

Below are the broken-down 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

24

22

7

13

Ageas Insurance Limited

42

30

1

42

Aioi Nissay Dowa Insurance UK Limited

6

0

0

2

Allianz Global Corporate & Specialty SE

6

0

1

5

Allianz Insurance Plc

2288

22

154

2054

Arch Insurance (UK) Ltd

1241

13

1

998

Argenta Syndicate Management Limited

1135

1

4

1129

ArgoGlobal SE

268

0

19

166

Aspen Insurance UK Limited

6

6

2

1

Asta Managing Agency Ltd

16

9

0

16

Aviva Insurance Limited

2061

83

97

1564

AXA Insurance UK Plc

2451

73

475

1792

AXA XL Insurance Company UK Limited (formerly XL Catlin Insurance Company UK Ltd)

528

27

4

440

AXA XL Underwriting Agencies Ltd (formerly Catlin Underwriting Agencies Ltd)

57

8

1

46

AXIS Managing Agency Limited

3396

87

95

2920

AXIS Specialty Europe SE

464

66

6

405

Beazley Furlonge Limited

75

0

0

72

Brit Syndicate Limited

33

1

0

29

Canopius Managing Agents Limited

1198

6

155

839

China Taiping Insurance (UK) Company Limited

336

0

0

332

Chubb European Group SE

53

0

4

31

Covea Insurance Plc

2796

57

30

2688

Coverys Managing Agency Ltd

438

59

26

464

Ecclesiastical Insurance Office Plc

35

0

6

21

ERGO Versicherung Aktiengesellschaft

280

73

8

265

Fairmead Insurance Limited

955

3

0

948

Faraday Underwriting Limited

52

6

1

46

Great Lakes Insurance SE

18

11

3

15

HCC International Insurance Company Plc

6

7

0

3

HDI Global SE

116

0

0

32

HDI Global Specialty SE

772

76

229

336

Hiscox Insurance Company Ltd

11198

1091

879

6470

Hiscox Syndicates Ltd

85

12

1

85

Liberty Mutual Insurance Europe SE

61

0

0

57

Markel International Insurance Company Limited

887

37

43

783

Mitsui Sumitomo Insurance Company (Europe) Ltd

0

1

0

0

MS Amlin Insurance SE

471

0

24

286

MS Amlin Underwriting Limited

2589

0

211

2028

Navigators Underwriting Agency Limited

0

0

0

0

Probitas Managing Agency Limited

0

5

0

0

QBE Europe SA/NV (UK Branch)

54

0

0

5

QBE UK Limited

2348

0

71

1377

QIC Europe Limited

513

0

59

392

Royal & Sun Alliance Insurance Ltd

1962

27

108

1640

Swiss Re International SE - UK Branch

0

4

0

0

The Channel Managing Agency Limited

12

1

0

12

The New India Assurance Company Limited

842

205

33

555

Travelers Syndicate Management Limited

7

2

0

2

XL Insurance Company SE

53

1

0

37

Zurich Insurance Plc

106

47

40

35

 

Meanwhile the regulator announced: “This month (March 2022) is the last sequential month that we will collect and publish the data. After this month, firms should be able to provide us with the data as requested. In September 2022 and in March 2023 we will request another submission for publication.”