Replies to post #22166 on The Rising Influence of Rising Affluence

[jbog]

Nice,

While it would only have an minor impact on Met that I know of, you should keep an eye on the NJ courts dealing with the Business Interruption Claims Lawsuits.

All major Commercial Insurers proclaim explicitly that they aren't liable for damage caused by Disease or Illness.

Many Business's are now claiming in Court that it is not the Disease or Illness which forced them to close and Trigger Interruption Claims but rather because of the Executive Orders of the States, and that would be covered.

[DewDiligence]

MET—(-6%/AH)—reports 2Q20 results—the main negative in the quarter was not COVID-19 claims, but rather losses on private equity and derivative securities:

https://finance.yahoo.com/news/metlife-announces-second-quarter-2020-201500963.html

https://s23.q4cdn.com/579645270/files/doc_financials/2020/q2/MET_2Q20_Supplemental_Slides-FINAL.pdf

https://finance.yahoo.com/news/metlife-quarterly-profit-nosedives-lower-201514460.html

MetLife said it had higher COVID-related claims during the quarter, but did not provide specifics. The disease's effects in the third quarter would be largely offset by underwriting margins, the company said.

MetLife reported $710 million in net derivative losses, compared with $724 million in derivative gains a year ago.

That’s a $1.43B negative swing, YoY, but I can’t really complain insofar as MET gained $4.2B on derivatives during 1Q20 (#msg-155475813).