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2nd September 2018

Newslink Global Insurance Trends-The Week

This week, Standard & Poor's said in a new report that tough market conditions for global reinsurers is forcing them to review their long-term relevance, whilst Fitch commented that mid-year results for both US property/casualty(P/C) insurers and reinsurers show both sectors are on the mend. The Global Federation of Insurance Associations(GFIA)responded to an IAIS consultation on its application paper on the supervision of insurer cyber-security, and the Association of British Insurers(ABI) warned that cold callers were saying they were from the trade body. The Society of Offshore Marine Warranty Surveyors(SOMWS) is to be launched next month.
Lane Peacock & Clark's(LPC) second annual Solvency II survey indicated that cyber security is the biggest concern with Brexit fears rising. Insurance Europe responded to the FSB consultation on the effects of financial regulatory reforms on infrastructure finance, and also published a response to a consultation on the European Commission’s proposal for a regulation to establish a framework to facilitate sustainable investment. deVere Group warned of Brexit "no deal" potential problems for British expats living in the EU.
ACORD is reducing the complexity of connecting trading partners by enhancing the capabilities of its Test Harness. Aon Assessment Solutions published its "Leading Digital Transformation for Talent Acquisition" report, and Symbility achieved revenue growth in the first half despite a big drop in global economic losses from natural disasters.
Aspen Insurance Holdings is to be acquired by the Apollo Funds for an equity value of approximately $2.6bn. CNP has announced a long-term exclusive distribution agreement with large Brazilian bank CEF. Sheila Cameron, currently head of International Operations at Navigators Underwriting, is to become the next ceo of the the Lloyd's Market Association(LMA), and there was also senior appointments at Allianz, Argo Group International, Munich Re Specialty, PartnerRe, and THB.
We summarised half year results from AIA Group, Vienna Insurance Group, and Peak Re.
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Resource at www.onlystrategic.com