- COVID-19 pandemic fueling social inequality and political unrest: Political Risk Map 2021
- GFIA responds to Canadian regulator OSFI on draft revised guideline on large P&C exposures and investment
- AXA successful placement of first subordinated green bonds
- Ardonagh and Amynta Group announce joint venture to acquire AccuRisk Solutions
- MS Amlin acquires International Transportation Marine Office
- Julia Graham appointed CEO of Airmic
- Majesco adds new capabilities to Distribution Management Platform expired
- AXA XL appoints Khera as Head of Marine, UK & Lloyd’s market expired
- Newslink Global Insurance Trends-Editor's Weekly Overview expired
- More of the same for 1st April reinsurance renewals: Willis Re 1st View expired
- Insurance Europe publishes response to EIOPA on its pilot dashboard for insurance protection gaps for natural catastrophes expired
- Zurich forges ahead with climate goals to tackle growing risk to society expired
28th February 2021
Newslink Global Insurance Trends-Editor's Weekly Overview
This week, The Geneva Association mobilised experts from 17 of the world’s largest P&C and life insurers, representing the companies of its CEO members, to develop and hone climate risk assessment methodologies and tools for the insurance industry. The first report of the task force presents an integrated decision-making framework for climate risk assessment that considers four dimensions: business line(P&C versus life);side of the balance sheet(assets versus liabilities); time horizon(short-medium-versus long-term); and type of risk(physical and transition). The report sets the stage for the task force to drive innovations in this space. Insurance Europe responded to the publication of the European Commission's(EC) new EU strategy on adaptation to climate change. Lloyd’s culture survey indicated progress towards a more inclusive market.
Insurance Europe replied to EIOPA on an insurer breaching its solvency capital requirement(SCR), and published its position on the EC’s proposal for a Digital Operational Resilience Act(DORA). The Chartered Insurance Institute's(CII) New Generation Claims Group produced a leaflet to assist applications for a grant to improve flood resilience.
Beazley unveiled a new digital business unit to spearhead a transformative approach to how the company develops, underwrites and delivers seamless, intuitive digital insurance solutions for clients and brokers. Willis Towers Watson announced an updated version of Claim Metrics, a bespoke Motor Claims benchmarking platform specifically for UK personal lines insurers, My Policy Group announced investment from Zurich to accelerate usage-based motor insurance, and Juniper Research estimated that Smart Traffic Management is to significantly reduce congestion and emission-saving cities $277bn by 2025. Newcastle Unversity is pioneering Hyper-Resolution Flood Risk Modelling using Bluesky 3D Aerial Survey Data, and thinkWhere won a contract to open up access to European mapping.
Aviva continued its strategy under ceo Amanda Blanc to reduce is global presence by announcing its intention to sell Aviva France to Aéma Groupe for E3.2bn in cash and its life joint venture share in Turkey to Ageas. Pool Re completed a £2.475bn terrorism retrocession placement, Willis Towers Watson and Liberty Specialty Markets launched a reputational crisis solution, and Rising Edge, a London-based Managing General Agent(MGA), writing directors’ and officers’(D&O) insurance is set to launch shortly. 2020 financials reported include Ageas, AXA, RSA, and Condiut, Munich Re, PartnerRe, SCOR, UK P&I Club, and Skuld.
INSURANCE NEWSLINK-GLOBAL TRENDS RESEARCH SELF-SERVICE
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.
REGISTER FOR A 14 DAY FULL TRIAL TO ASSESS OUR SERVICE AT: