- Swiss Re new sigma report looks at the potential of advanced analytics
- Hamilton completes acquisition of Pembroke Managing Agency and its platform at Lloyd’s, as well as Dublin-based carrier, Ironshore Europe DAC(IEDAC), from Liberty Mutual
- Insurance Europe publishes response to a consultation by the International Association of Insurance Supervisors (IAIS) on systemic risk
- S&P Global reviews Californian wildfires and re/insurers risk appetite
- Majesco publishes new thought leadership report headed "The Future of Insurance: Optimization, Growth and Innovation"
- WIllis Towers Watson Claim Metrics benchmarking analysis indicates that motor claims payout inflation in the UK rose by 8.6% in 2018
- Global Risk Partners(GRP) moves for Health and Safety Click(H&S Click). expired
- Illinois-based Pekin Insurance has successfully deployed Guidewire InsurancePlatform expired
- High Court declines to sanction the transfer of an annuity portfolio from Prudential to Rothesay Life expired
- Lloyd's broker SSL Endeavour announces senior appointments-to acquire aviation broker/MGA in North America expired
- DARAG appoints Insley as CFO expired
- Everest Insurance appoints Adams to head operations in Bermuda expired
11th August 2019
Newslink Global Insurance Trends-The Week
This week saw a continuation of second quarter and first half financial reporting, and a number of significant publications. Clyde & Co's Global Growth Report indicated mergers and acquisitions(M&A) in the global insurance industry rose in the first half of 2019 with 222 completed deals worldwide, up from 196 in the second half of 2018. Willis Re Securities reported that the Insurance-Linked Securities(ILS) market declined in the second quarter compared with 2017 and 2018, and Marsh released its Global Insurance Market Index for the second quarter highlighting that average commercial insurance pricing increased nearly 6%. S&P Global reviewed reinsurance market trends and also published a report headed "Global Reinsurers Face The Iceberg Threat Of Cyberrisk". The insurance industry’s anti-coal stance will deliver long-term benefits despite potential short-term losses, according to Global Data.
Avantia, the technology-enabled insurer behind HomeProtect, announced a major update to its retail pricing model using machine learning, and Greenlight Re made a strategic investment in Handdii, a Melbourne-based property insurance claims fulfilment platform. Mphasis signed a multi-year deal with The Ardonagh Group, and Willis Towers Watson released an updated version of its Radar pricing software. Guidewire Software announced the appointment of Mike Rosenbaum, former evp Product at Salesforce, as ceo-joint founder and ceo Marcus Ryu became chairman. Majesco announced solid fiscal 2020 first quarter results.
Swiss Re's ReAssure Group is to acquire Quilter's(Old Mutual) UK closed life and pensions insurance book, and run-off specialist DARAG continued its acquisition trail in Germany signing a Portfolio Transfer Agreement with SOVAG. Latest financials included those from Ageas("best ever first half result"), AIG(“Our strong second quarter performance demonstrated continued positive momentum throughout the first half of 2019"), Aviva(strong general insurance result-reviewing options for Asia Pac busines), CNA Financial, Legal & General, Liberty Mutual(second quarter impacted by Typhoon Jedi and liability lines), LV=, Manulife, Phoenix Group(operating profit and cash generation up), The Hartford, and Zurich("we are set to exceed all our targets and the strategy is proving successful"-impressive half year across the board); Argo International, Enstar(big increase in consolidated net earnings), Greenlight Capital Re(into the black), Hannover Re(half year profit up 19%-gross premiums increased by 14.5%), and Munich Re(on track with highest quarter result for four years).
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com