Of Special Interest


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10th November 2019

Newslink Global Insurance Trends-Editor's Weekly Overview

This week was another busy financials time with a number of major players reporting-companies included Ageas, AIG, Allianz, AXA, Berkshire Hathaway, MAPFRE, RSA, Zurich, Prudential Financial; and Argo, Greenlight Capital Re, Hiscox, Hannover Re, Lancashire, and Munich Re. There were no real surprises.
The long-term improvement in its risk management record of the global airline industry is being challenged by a growing number of insurance claims and risks, highlighted in a new report by Allianz(AGCS) and Embry-Riddle Aeronautical University. S&P Global Ratings said in a report that European insurers remain strong and support its stable outlook on the sector. The Prudential Regulatory Authority(PRA) warned on general insurance claims reserving issues, and national competent authorities are to comply or intend to comply with EIOPA’s recommendations to the insurance sector on UK withdrawal. The London Market Group announced that the next London Matters report will be published in the first quarter of 2020. The Chartered Insurance Institute(CII) launched a web and social media advertising campaign to explain what Chartered status means to consumers.
Cover Genius, an Australian-based global InsurTech, raised $10m in a Series B funding round. FICO announced that the latest release of its Cyber Risk Score was now available on AWS Marketplace. A new release of Guidewire InsurancePlatform was announced, whilst Ontario-based BCH Insurance chose Guidewire solutions. Equitable Life of Canada launched Sapiens UnderwritingPro, and the software company announced a positive third quarter. DAC Beachcroft deployed the Verisk verify claims management platform to provide its lawyers with direct, real-time access to more quickly and efficiently resolve litigated credit hire claims, and Atlanta Group licensed Willis Towers Watson's Radar Live in a move designed to transform pricing capabilities for personal lines products.
Baloise is to acquire the non-life insurance portfolio of Athora Belgium for E60m, and Compre signed agreements to transfer an inwards reinsurance portfolio from AG Insurance. Hamilton announced the launch of a new team of underwriters at the recently-acquired Pembroke Managing Agency and the development of a new cyber product. Argo announced that ceo Watson was retiring and Kevin Rehnberg was appointed interim ceo, Lockton's new ceo will be Peter Clune, and Aviva appointed Jan-Hendrik Erasmus as chief risk officer.

Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
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