Of Special Interest


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5th August 2018

Newslink Global Insurance Trends-The Week

This week, Clyde & Co reviewed insurance M&As globally in the first half-a modest increase compared to second half 2017, but the number could grow. EIOPA published a report headed "Understanding Cyber Insurance-A Structured Dialogue with Insurance Companies", and also released the third in a series of papers with the aim of contributing to the debate on systemic risk and macroprudential policy, and a Discussion Paper on resolution funding and national insurance guarantee schemes. Insurance Europe wrote a joint letter to the European Commission calling for legal certainty about the transfer of personal data between the UK and the EU and the European Economic Area(EEA) ahead of Brexit. THe Prudential Regulatory Authority(PRA) issued a Consultation Paper on Solvency II and amendments to the Senior Managers and Certification Regime(SM&CR).
We published our interview with digital insurance thought leader Denise Garth, senior vice president, Strategic Marketing, Industry Relations, and Innovation at Majesco. AXIS Capital launched a Digital Ventures unit, Beazley said that attacks targeting business email accounts continued to climb in the second quarter, and Chubb partnered with DynaRisk to offer a cyber loss mitigation service to Chubb's Cyber Enterprise Risk Management policyholders in the UK and Ireland. Groundspeed Analytics InsurTech reported a $30m Series B funding round.
AIG and The Carlyle Group announced a Strategic Partnership with DSA Re, and DARAG secured equity funding of up to E260m to support growth plans in the US and beyond. Liberty Specialty Markets(LSM) plans to expand into the Nordic region, and Randall & Quilter's Florida-based subsidiary finalised its largest ever program underwriting partnership. Lloyd's brokers LONMAR and Ropner confirmed their merger. Ceo of Ageas UK, Andy Watson, was appointed as the new chair of the Association of British Insurer's(ABI General Insurance Council(GIC).
It was a major results week globally, with second quarter and interim financials being published-we summarised releases from AIG, Allianz, Aviva, AXA((and XL Group), CNA Financial, Direct Line, Great-West Lifeco, Generali, MAPFRE, The Hanover, The Hartford, and RSA; Arch Capital, Aspen, Berkshire Hathaway, Everest Re, Fairfax Financial, Hiscox, Markel, and Swiss Re; Aon, Gallagher, and Willis Towers Watson.
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Resource at www.onlystrategic.com