Of Special Interest


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31st July 2016

Newslink Global Insurance Trends

This week, second quarter and interim financials made the headlines, with the reinsurance/specialty sector leading the field. With higher natural catastrophes and a continuing volatile market environment, there were mixed returns, with several ceo's saying their results stood up well. Amongst those reporting were Arch Capital(higher net income), Aspen(increased cat losses) AXIS Capital(improved net income), Everest Re("excellent result" for first half), Chubb(merger "on track and going well"), Hiscox(strong UK retail and US growth), Lancashire Holdings(net operating profit down), PartnerRe(first half net income up), Validus(net operating income down), XL Group(cat losses higher), and European majors SCOR(net income down) and Swiss Re("solid" interim). Composites Generali(on target) and MAPFRE(profits up) also reported, as did JLT(pre-tax profit down after US investment) and Marsh McLennan(strong consolidated result).
EIOPA joined the IAIS MMoU information exchange agreement, which now includes 56 signatories representing 65% of worldwide premium volume. Insurance Europe continued to be active in its comments on future regulatory change by responding to an EC consultation on the proposed services passport across the single market.
Research by Redcentric indicated that insurers were ready to invest in improving customer experience, whilst AIR Worldwide significantly expanded its Global Pandemic Model and is to work with the World Bank. The London Market Group(LMG) published the Blueprint for the London Market Target Operating Model(TOM), and Charles Taylor acquired CEGA, the medical assistance and travel claims services specialist. Teradata was chosen by Aflac as its technology partner.
Standard & Poor's reviewed Achmea's ratings. Aviva Financial Advisers was launched in Singapore, and China Re also opened a branch in the city state. Brit strategically invested in South African-based Carmarque Underwriting Managers, Catalina moved for two UK-based Hartford units, and Ironshore filed a proposed IPO with the US SEC. There were senior appointments at Houston International(HIIT) and Sompo Canopius.
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 and report facilities and a free 14 day full trial.