8th April 2018

Newslink Global Insurance Trends-The Week

Trend

• Tweet
• Share on Facebook
• Share on LinkedIn

This week, The Centre for Policy Studies(CPS) and the Association of British Insurers(ABI) welcomed the final report by MPs on the Work and Pensions Committee into pensions freedom and choice-the development of a public Pensions Dashboard with mandatory submissions was recommended in the report. Meanwhile, the Financial Conduct Authority(FCA) announced new rules for asset managers following its market study, and also warned it will take action against general insurance firms who are failing to properly implement rules introduced to increase transparency and encourage shopping around at renewal time. The ABI highlighted the significant additional workload with the impending rollout of the Senior Managers & Certification Regime(SM&CR), and the Chartered Insurance Institute launched CII Radio. Willis Re reported on April 1st renewals and the latest reinsurance market trends-Artemis headlined a record first quarter for ILS issuance, ahead of the London Market entry into the fray.
Guidewire won Celent Awards, and Italian insurer VERTI, part of the MAPFRE Group, selected additional Guidewire solutions. Majesco released a new thought leadership report-" Strategic Priorities 2018: The Digital Insurance 2.0 Gap", and the Monetary Authority of Singapore(MAS) is to develop a guide to promote the responsible and ethical use of artificial intelligence(AI) and data analytics by financial institutions. MS&AD companies are to implement Shift Technology’s FORCE to improve existing capabilities to detect fraudulent insurance P&C claims for domestic business in Japan.
Anbang Insurance is to receive a RMB60.804bn capital injection from the China Insurance Security Fund(CISF). Lloyd's opened an office in Casablanca-Lloyd's ceo Inga Beale said “At Lloyd’s, we are determined to play a vital role in supporting economic growth and developing insurance markets in Africa." Swiss Re highlighted its key strengths at its annual Investors' Day, and White Mountains is to acquire a majority equity stake in specialty insurance program administrator NSM Insurance Group. Howden is to acquire a majority stake in Turkish insurance broker ACP, and Willis Towers Watson has transferred its UK Insurance Investment Solutions Group(IISG) to its Insurance Consulting and Technology(ICT) UK Life business. Cunningham Lindsey launched its EFI Global–Environmental, Engineering, and Fire Services consultancy service in the UK.
Amanda Blanc is to leave AXA to join Zurich as ceo EMEA, and there were other senior appointments at Fidelis, JLT Re (North America), Lloyd's Market Association(LMA), Lockton, and TMK.
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, report facilities, and a free 14 day full trial.