Of Special Interest


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28th May 2023

Newslink Global Trends-Editor's Weekly Highlights

This week, Moody’s RMS, the major catastrophe risk modelling and solutions company, announced that risk models from Applied Research Associates(ARA), Fathom, and JBA Risk Management(JBA) are all to be made available as a technology preview on the Intelligent Risk Platform(IRP), following the integration of the IRP into the Nasdaq Risk Modelling for Catastrophes(NRMC) service. Insurance Europe said it was concerned that the overall impact of the many new requirements in the European Commission’s Retail Investment Strategy proposals will make consumers’ investment journey much longer, more complicated and more intimidating than before. According to GlobalData, Compare the Market was the leading Price-comparison website(PCW) within the UK motor insurance market even though it was not offering the cheapest pricing-GlobalData also estimated that Singapore property insurers will remain profitable in 2023 with adequate reinsurance coverage.
Cyber developments made the headlines-a Beazley report highlighted that cyber incidents have increased, driven by exploitation of software vulnerabilities, Ampere Industrial Security and DeNexus are to partner to enhance cyber risk data sets for the industrial sector, and Intangic warned that the focus on "Cyber Armageddon" diverts companies' attention from fighting smaller, more frequent state-sponsored attacks. Insly launched BrokerFlow, a global, no code, sales software for brokers, whilst Sapiens joined forces with Microsoft to leverage Generative AI for Insurers.
RenaissanceRe Holdings announced it has entered into a definitive agreement with American International Group(AIG) whereby RenaissanceRe will acquire AIG’s treaty reinsurance business, which includes Validus Reinsurance and its consolidated subsidiaries. Brown & Brown is to acquire Kentro Capital, an insurance group which includes Nexus Underwriting and Xenia Broking. Compre acquired a workers’ comp portfolio from US-based SUNZ. First quarter update reports included those from Aviva, Generali, and HDI Global. Lloyd’s announced the appointment of Rachel Turk from Beazley in the new role of chief underwriting officer.


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