- Newslink Global Insurance Trends-Editor's Weekly Overview
- EIOPA publishes third annual European Insurance Overview
- Insurance Europe says it is premature to call for mandatory AI insurance due to insufficient underwriting data and lack of similarity between risks
- Pryce to act as Interim Group CEO at QBE
- Lloyd’s approves Picnic Syndicate 2460 to support community mutuals as a syndicate in a box(SIAB)
- Charles Taylor InsureTech launches Authority Hub
- Davies signs three-year agreement to renew and broaden its use of Verisk claims solutions expired
- Munich Re Automation Solutions signs a global partnership with Generali on life insurance applications globally expired
- SSP remotely delivers full system replacement to Seychelles-based Sacos Group expired
- Whitespace forms new Advisory Board expired
- Travelers net income doubles in third quarter expired
- Reardon appointed CEO of Hiscox Re &ILS expired
18th October 2020
Newslink Global InsuranceTrends-Editor's Weekly Overview
This week, Lloyd’s set out recommendations for building simpler insurance products in response to COVID-19, and also launched a new report on cities at risk from global threats. Fitch Ratings said that US P/C industry's reported 3Q20 natural catastrophe losses will be the largest since 3Q17-AIR Worldwide estimated insured losses to onshore property from Hurricane Delta will range from $1bn to $3bn-the latest in a very active season. A threat of fines drives UK Board decisions on cybersecurity spend said research by Thycotic. EY's new NextWave report discusses how six megatrends are reshaping the global life insurance and retirement market, whilst US Life insurance activity returned to pre-pandemic growth in September after a surge in July and August, according to the MIB Life Index.
Two-thirds of UK insurance professionals feel the Financial Conduct Authority's(FCA) business interruption case has reduced trust in the sector, according to a Chartered Insurance Institute(CII) poll-later in the week, the FCA proposed additional measures to help insurance customers in financial difficulty because of coronavirus. Insurance Europe published a response to a consultation by the EC on a revision of the electronic identification and trust services(eIDAS), and also replied to a discussion paper by EIOPA on climate change, liquidity risk and multi-period stress testing. EIOPA called on the EU insurance sector to complete preparations for the end of the UK transition period.
The Sequel Re Portal for reinsurance professionals was launched. Swiss Re and Daimler launched a new company(Movinx) to transform automotive and mobility insurance business, whilst RMS and Tokio Marine Holdings are to expand and deepen their Global Commercial Partnership. State Street and SimCorp announced their intention to form a business partnership to provide a fully integrated, front-to-back investment outsourcing solution for insurance firms in EMEA.
Arch Capital announced a definitive agreement to acquire all the common shares of Watford in an all-cash transaction, and ArgoGlobal finalised an agreement on a RITC Transaction with RiverStone. Compre strengthened its board for further growth and completed its first US transaction and a senior Bermuda hire.
THE ONLINE WORLDWIDE RESEARCH SERVICE OF STRATEGIC TRENDS
With the COVID-19 pandemic necessitating a dispersed workforce resulting in a surge in digitisation, climate change ongoing issues, growing cyber threats, and public trust a continuing challenge, there is an increasing need for key staff to keep in touch with global market trends and to be able to speedily drill down on areas of interest and print/email an automatic report.
Full articles on the topics in the Editor's Weekly Overview above are included in those added this week to the unique Insurance Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
The self-search and reporting service across all (re)insurance sectors has covered key global trends since its launch in 1993-bringing together significant worldwide market and IT/InsurTech intelligence from source-editing and linking across region/country, regulatory, surveys/research, results, and IT by business application area. The database contains over 53,000 linked articles and is updated twice-weekly.
Sister-service Banking Newslink contains over 34,000 articles, and Financial Newslink is a combination of both database services.
A 14 day free personal full trial of the services is available from the website.