Of Special Interest


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6th July 2014

Newslink Opinion: Weekly Insurance Global Analysis

This week, Xchanging acquired Agencyport Europe and Total Objects to widen its range of offerings, and appointed a managing director to its enlarged Xuber insurance software arm. RMS offered free use by governments through the UN and the World Bank to its open modelling solution RMS(one), whilst CoreLogic and eSpatial announced new versions and products. PwC in a survey warned UK insurers of the threat of newcomers through the growing digital environment, and a white paper on telecoms developments was published. Guidewire's PolicyCenter received an accolade from analyst CEB Tower Group, and SunGard launched its iWorks Prophet GI solution for p&c insurers. Discoverture joined the Accenture Duck Creek Alliance Partner Programme, and US insurer Pro General chose 4Sight Business Intelligence and Maximum Processing's Stingray System.
Willis reported on reinsurance rate reductions, and hosted a major event on natural disasters and climate risk. The quarterly CBI/PwC survey indicated that UK life insurers were more optimistic than general ones.
Swiss Re is to buy RSA's China book and held an Investors Day in London, and Zurich is to sell its Russian retail insurance book to OLMA Group, taking a loss. ING's insurance IPO of NN Group shares was successful, and Hannover Re transferred Texas windstorm risks to capital markets. Meanwhile, Aspen and Endurance continued their war of words, ACE is to acquire a leading Brazilian insurer, and Old Mutual is to carry out a minority IPO of its US institutional asset management business. JLT took a stake in an Indian broker, AmWINS acquired in California, and Hub in New Mexico. CGSC is to expand its Latin American presence, and Besso received regulatory approval to open for business in Brazil. Charles Taylor Adjusting is also to open in Brazil to widen its Latin Americam coverage-a busy week for the Brazilian insurance market whilst all eyes are on the World Cup.
Marsh announced a senior appointment and Paul Evans, Group chief executive of AXA UK, is to be the next chairman of the Association of British Insurers(ABI).
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service on Wednesday and today at www.onlystrategic.com