Of Special Interest


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15th February 2015

NewslinkTrends: Weekly Insurance Global Analysis

This week, there was a flow of 2014 financials. Towers Watson published a survey of North American p&c insurers indicating that the use of predictive modeling is notably increasing. Aon Benfield released its Impact Forecasting Global Catastrophe Recap for January. The Lloyd's Market Association(LMA) issued a guidance note on TRIA, and ceo David Gittings set out LMA priorities for 2015 before an audience of Managing Agents. The Chartered Insurance Institute(CII) announced its Public Interest Awards, Insurance Europe and other European associations said that more teleworking could improve the insurance market's productivity and make it a better place to work, and the recently formed global Chief Compliance Officers(CCO) Forum announced its chairman and vice chairman.
Guidewire ClaimCenter was deployed at UnipolSai, Majesco finalised the acquisition of Agile Technologies, and PCIS's ClaimsVision solution was chosen in California. The Floow was appointed by RSA to deliver the first telematics smartphone app in Norway on a trial basis, and Verisk Insurance Solutions released its Risk Engineering Utility for commercial property underwriters.
JLT is to sell its minority interest in a French broker but retain an ongoing relationship, and Capita has been chosen by Flood Re to be its managing agent with a five-year contract-Flood Re also appointed a chairman. Aviva called for action on the rising number of spurious industrial deafness claims in the UK, and Enstar acquired in Belgium. HUW moved for a further Lloyd's LLV.
David Ross, Gallagher International ceo, was appointed as ceo of Sierra Investment Holdings, the Towergate investment vehicle, with a view to becoming ceo of the broker at a later date-ex Gallagher International cfo Mark Mugge is also to join Sierra as cfo. MSIG named a new chief Underwriting officer.
On the financials front, AIG's ceo said that 2014 was a year of transition and transformation, Ageas(good Asian growth) and NN Group impressed, but Zurich's ceo said that he was not satisfied with 2014 earnings. CNA Financial is to pay a special dividend, Fairfax Financial produced record results, Navigators improved, but White Mountains had a mixed year. Arch Capital increased fourth quarter net income, Argo produced record underwriting profit, and Catlin(in the process of merging with XL Group) increased pre-tax profits. Lancashire Holdings and Montpelier Re ended the year well, and Markel doubled comprehensive income. The Big Three brokers-Aon, Marsh, and Willis-were all positive.
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