Of Special Interest


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23rd August 2015

Newslink Trends: Weekly Global Insurance Analysis

This week, Standard & Poor's published two pre-Monte Carlo Rendezvous reports-one looking at the blurring boundaries between alternative and traditional reinsurance capital, and the other highlighting competition in reinsurance pricing. Allianz Global Corporate & Specialty(AGCS) reviewed windstorm damage trends 10 years on from Hurricane Katrina, and Lloyd's looked at insurance challenges around drones. Timetric reported on the UK professional indemnity market, and the Association of British Insurers(ABI) said there had been an increase in protection insurance payouts in 2014. A survey of Chartered Insurance Institute(CII) members indicated that they were more positive about the economy.
Insurance Europe commented on the EC consultation on European Market Infrastructure Regulation, and also expressed concern on the PRIIP technical discussion paper.
Majesco launched its Business Analysis suite, FICO announced a strategic partnership in South Africa to combat healthcare fraud, Texas Mutual signed up for further Guidewire solutions, And Advent Insurance Management established a presence across the US through a joint venture with AmeriClaim.
The Financial Conduct Authority(FCA) called off its investigation into Quindell following the announcement that the Serious Fraud Office(SFO) had started one-Quindell also announced a new ceo and nomad. Jelf Group revealed that it was in takeover discussions with Marsh, and Flood Re started "on boarding" to ensure industry participants were ready for its launch next April. AIG is to sell its remaining stake in AerCap, and Willis acquired in Western Australia.
In the UK, Admiral produced better than expected interim results, whilst Phoenix Group and Royal London impressed-the latter also expressed concern about the possibility of ISA-like taxation on pensions, and called for refinements in the Retirement Risk Warnings to improve customer decision making over pension funds. Arig and QBE revealed improved financials, and Lockton published a strong Annual Report. There were management appointments at Everest Re in the US, Capsicom Re strengthened its cyber team, and the new ceo at Suncorp is to take over from Patrick Snowball in October.
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