- Lloyd's report highlights reputation as one of the most valuable intangible assets to global businesses
- LMG and Willis Towers Watson publishes latest report reflecting on the lessons learnt from lockdown
- New report reveals online insurance claims pain during COVID-19 as consumers demand better digital services
- Aviva to sell its 50% shareholding in Italian JV Aviva Vita
- Insurance Europe publishes response to the European Commission’s roadmap for the review of VAT rules for financial and insurance services
- Caura adds mobile-first motor insurance product to all-in-one car management app
- Praedicat developes scenarios designed to help insurers that have a clash risk from coronavirus that impact general liability and directors & officers(D&O) lines expired
- RMS collaborates with Willis Re and Securian Financial on launching the first Indemnity-Based Mortality Catastrophe Bond expired
- Whitespace adds unique video calling capability within the platform expired
- Inigo completes capital raise of approximately $800m expired
- Ki platform goes live with partner brokers expired
- MAPFRE MSV Life in Malta goes live with Sapiens’ life & pension core suite and digital solution expired
22nd November 2020
S&P Global highlights top risks for the global insurance industry
S&P Global Ratings has published a presentation outlining the top risks for the global insurance industry.
Key points are:
-The impact of COVID-19 on global insurance markets is largely felt through asset risks, notably capital markets
-volatility, and weaker premium growth prospects.
-We expect most COVID-19-related losses (business interruption, event cancellation, etc.) to be picked up by reinsurers, so primary insurers' technical performance is unlikely to deteriorate materially.
-Strict lockdown measures helped maintain satisfactory performance, as motor and medical claims had a positive impact on loss ratios.
-Developed markets, particularly life ones, are likely to shrink in real terms as a result of the economic slowdown.
-Developing markets, through their riskier asset allocation, will likely experience more declines in return on equity than developed markets.
-Ultralow interest rates mean that the most significant source of risk to insurers is the performance of investments, especially life insurers with guaranteed back books.
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