Munich Re saw profits fall by 42% to £522m in Q2 2020, compared to the same period last year. The re/insurer also announced COVID-19 related losses for the quarter of £632m taking pandemic losses for the first half of the year to £1.4bn.

Tokio Marine Kiln has published revised forecasts for the 2018 and 2019 years of account for its two non-aligned syndicates, 510 and 557.

Axa has booked £1.4bn worth of COVID-19 losses into its H1 2020 results. The French insurer announced revenues for the first half of the year were down by 2% to £47bn, and that underlying earnings for the period had collapsed by 48% to £1.7bn.

Insurance broker and financial adviser Lycetts Holdings saw pre-tax profit rise to £1.3m for the year to December 2019. This is a year-on-year increase of £1.5m. Turnover for the same period rose to £22.7m, up from £21.6m in 2018.

A Finnish/South African consortium has bought Hastings Group in a deal valuing the UK insurer at £1.7bn. The consortium is called Dorset Bidco and comprises Sampo and Rand Merchant Investment Holdings. Prior to the deal being struck, Sampo and RMI owned a combined stake of 29.7% in Hastings.

McKenzie Intelligence Services, the geospatial imagery and re/insurance consultancy has won a €685,000 contract from the European Space Agency to develop a Global Event Observer for the insurance industry.