Of Special Interest


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21st August 2022

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, WTW published a general overview of the key developments in the GB cyber insurance market, analysing the conditions both for international and domestic companies using the London Market to transfer risk-the market has seen significant changes during Q2 2022, with the segments within the market being more distinct and nuanced than previously experienced. S&P Global Ratings reported that GCC Islamic insurers continue to suffer from intense competition. GlobalData said growing awareness and renewed economic growth helped top 20 APAC insurers post aggregate premium of $908.6bn in 2021. The researcher also reported that InsurTech investments fell by 79.6% in 2021 leading to job losses and tough economic conditions in 2022, and that Augmented reality(AR) will be invaluable to insurers in the post-pandemic world.
European insurers called for greater clarity and improvements to the draft IAIS criteria on comparability of the Aggregation Method and Insurance Capital Standard. The Personal Finance Society(PFS) appointed an interim ceo and also indicated that a survey of 180 PFS members showed 43% declared the favourite part of their working day to be coaching, which involves informing and empowering their clients so that they feel confident enough to make their own financial decisions.
Sapiens International Corporation announced an agreement with US-based Intellagents, a no-code, hybrid cloud, independent insurance marketplace platform provider-in South Africa, Old Mutual Insure selected Sapiens for its Data and Analytics solution. Beazley’s Smart Tracker Syndicate 5623 got Lloyd’s Council ‘in principle’ approval, Pool Re launched a consultation with members over a move to a treaty model, whilst Ocean Re acquired Oceva Risk businesses in London and Denmark as part of its international expansion strategy. Financial announcements included those from Phoenix Group, Talanx, IGI; and Ardonagh. There were senior appointments at RMS, Catelina, Chubb, CNA Hardy, and SiriusPoint.


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