Of Special Interest


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25th October 2015

Newslink Trends: Weekly Global Insurance Analysis

This week, Willis looked at ILS market trends in its latest report and Standard & Poor's reviewed global reinsurance pricing. Marsh's Cyber Risk Survey highlighted lack of awareness across European companies, and the Association of British Insurers(ABI) drew attention to the rise in cyber claims. ISO and PCI reported that US p & c insurers improved their collective net income in the first half of the year, Churchill research focused on the high level of uninsured drivers in the UK, and the ABI commented positively on the Pensions Freedom report from the Parliamentary Work & Pensions Committee.
Solvency II continued to feature-Silverfinch said its research indicated that progress varied across the EU, Old Mutual Wealth chose Eagle Investment Systems' EDM solution to assist implementation, and Generali opted for Conning's GEMS Economic Scenario Generator.
Swiss Re and IBM are to develop a range of underwriting solutions using Watson cognotive computing technologies. The Write-Back development streamling ECM workflow went live in the London Market, The Floow announced a telematics partnership with a leading Chinese car service company, and QuanTemplate appointed a head of US and Bermuda. QBE North America chose Majesco solutions for its specialty insurance division.
Lloyd's signed a memorandum with China Taiping Insurance, on the occasion of China President Xi Jinping's visit to the UK. China Re is to raise around $2bn through an IPO, and broker RFIB has sold a majority share stake to Calera Capital, resulting in ex Aon chief Denis Mahoney taking up the position of executive chairman. Liberty Specialty is to exit the UK niche commercial motor sector.
ACE shareholders voted for the acquisition of Chubb as both companies released good operating income for the third quarter. Allied World was hit by Tainjin explosion claims and investment losses, whilst Travelers improved net and operating income, and Brown & Brown increased revenues. There were several senior Global Commercial appointments at AIG, ArgoGlobal named a coo, Price Forbes announced the head of its International Non-Marine Division, and UK and Europe head of Prudential, Jackie Hunt, left the company-John Foley, Group Investment director will oversee pending a replacement.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service on Wednesday and today at www.onlystrategic.com