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OFFON

ARCH CAPITAL GROUP LTD.

(ACGL)
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UK COVID-19 business insurance payouts top one billion pounds -watchdog

09/15/2021 | 10:02am EST
Businesses prepare to reopen as COVID-19 restrictions continue to ease, in Stratford Upon Avon

LONDON (Reuters) - Small companies in Britain, which demanded that their insurers cover claims for losses accrued during the COVID-19 pandemic, have received more than one billion pounds ($1.4 billion) in full and interim business interruption payouts to date.

Businesses ranging from restaurants to nightclubs and wedding planners to beauty parlours in January won the right to insurance payouts after Britain's highest court ruled many policies should cover losses caused by coronavirus lockdowns.

The Financial Conduct Authority (FCA), which had brought a closely-watched test case on behalf of policyholders against major insurers, said on Wednesday that 27,248 companies out of 42,308, which had had claims accepted, had received at least an interim payment.

($1 = 0.7236 pounds)

(Reporting by Kirstin Ridley and Carolyn Cohn; Editing by Emelia Sithole-Matarise)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ARCH CAPITAL GROUP LTD. 0.07% 43.39 Delayed Quote.19.60%
HANNOVER RÜCK SE 0.06% 162.55 Delayed Quote.24.67%
HISCOX LTD 1.36% 863 Delayed Quote.-14.35%
QBE INSURANCE GROUP LIMITED 2.35% 12.19 End-of-day quote.42.91%
All news about ARCH CAPITAL GROUP LTD.
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10/29Third Quarter 2021 Investor Presentation
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10/29Q3 2021 Investor Presentation
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10/29Barclays Adjusts Price Target on Arch Capital Group to $50 From $45, Reiterates Overwei..
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10/28JMP Securities Adjusts Price Target on Arch Capital Group to $48 from $45, Keeps Market..
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More news
Analyst Recommendations on ARCH CAPITAL GROUP LTD.
More recommendations
Financials (USD)
Sales 2021 8 846 M - -
Net income 2021 1 916 M - -
Net Debt 2021 - - -
P/E ratio 2021 9,24x
Yield 2021 -
Capitalization 16 683 M 16 683 M -
Capi. / Sales 2021 1,89x
Capi. / Sales 2022 1,71x
Nbr of Employees 4 500
Free-Float 65,5%
Chart ARCH CAPITAL GROUP LTD.
Duration : Period :
Arch Capital Group Ltd. Technical Analysis Chart | ACGL | BMG0450A1053 | MarketScreener
Technical analysis trends ARCH CAPITAL GROUP LTD.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 11
Last Close Price 43,39 $
Average target price 49,83 $
Spread / Average Target 14,8%
EPS Revisions
Managers and Directors
Marc Grandisson Chief Executive Officer & Director
Nicolas Papadopoulo President & Chief Underwriting Officer
Franšois Morin Chief Financial Officer, Treasurer & Executive VP
John M. Pasquesi Chairman
Christine Hegenbart Lee Todd Chief Investment Officer
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