- Newslink Global Insurance Trends
- Swiss Re sigma estimates global total economic losses from natural catastrophes of $44bn in first half-compared to ten-year average of $120bn
- Global commercial insurance renewal rates continue decline says Marsh Index
- MassMutual International to sell Hong Kong-based unit to Yunfeng Financial Group and other investors and own 24.8% of Yunfeng's expanded share capital
- IPCC invites 101 experts from 41 countries to begin work on the Special Report on the Ocean and Cryosphere in a Changing Climate (SROCC)
- A look at upcoming data protection legislation and its impact on insurance
- Aegon forms strategic long term partnership with Funding Circle to support the growth of UK small businesses expired
- Royal London produces strong Interim trading figures expired
- Swiss Life on track for 2017 target expired
- NN Group CEO reports "steady progress" with first combined results following the Delta Lloyd merger expired
- QBE interim net profit up 30% expired
- Argo announces senior appointments in US Excess & Surplus lines division expired
20th August 2017
Newslink Global Insurance Trends
This week, a Swiss Re sigma report estimated global total economic losses from natural catastrophes of $44bn in the first half, which compared to a ten-year average of $120bn. According to a Marsh Index, global commercial insurance renewal rates continued to decline, but at a slower pace overall in the second quarter. Standard & Poor's warned on some potential reinsurer exposures in 2017. RSA hosted a London Market Broker Roundtable where changing needs of customers were highlighted, and a Lockton report indicated that UK companies are underestimating the impact of a data breach. Peter Johnson, svp, Marsh Risk Consulting, took a look at upcoming data protection legislation and its potential impact on insurance. The Intergovernmental Panel on Climate Change(IPCC) invited 101 experts from 41 countries to begin work on the Special Report on the Ocean and Cryosphere in a Changing Climate(SROCC).
Further Interim and second quarter financials were reported-including Admiral Group(turnover and customer numbers up in first half-"marginal increase in profitability and more material increase in underlying dividend" said ceo Stevens), NN Group("steady progress" after merger of Delta Lloyd), QBE(interim net profit up 30%), Royal London(strong interim trading figures), Swiss Life(on target for 2017), and Talanx(net income up 14.9%).
Aegon formed a strategic long term partnership with Funding Circle to support the growth of UK small businesses, and the Standard Life/Aberdeen Asset Management merger was finalised. MassMutual International is to sell its Hong Kong-based unit to Yunfeng Financial Group and own 24.8% of the buyer's expanded share capital-a range of other Asia investors were also involved. Prudential sold its US broker-dealer network. The Davies Group acquired Claims Management Services(CMSL), and the Schinnerer Group is to takeover ICAT. There were senior appointments at Argo, Brit, Charles Taylor TPA, Fidelis, Greenlight Capital Re, and at Liberty Specialty Markets(LSM).
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com-featuring advanced structured search and report facilities and a free 14 day full trial.