Of Special Interest


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26th January 2014

Weekly Insurance Global Analysis

This week, the quarterly CBI/PwC survey on the UK financial services sector indicated a strong growth for life insurers and a gentler one for general insurers, as the industry gears up staffing for Solvency II. Rating agencies were active-Standard & Poor's looked at the reinsurance market, warned on Central and Eastern European Markets risk exposure, and predicted disappointing 2013 results from Saudi Arabian insurers. Fitch reviewed trends in European insurers investment strategy, and reported that US p&c insurers would benefit from favourable loss reserving development in 2013.
BIBA reviewed the growth of telematics in the UK motor insurance sector over the last few years, and Gable Insurance went live with a Sequel solution. SAS was named as a category leader for Sovency II Technology Solutions by researcher Chartis, and SAS also revealed that two Dutch health insurers had selected its Fraud Framework offering. Xuber made a professional presentation at its Xuber4London event which outlined its range of solutions for the specialist market and beyond, including a new systems migration tool, Upgrade Studio.
AEGON changed its accountancy practices, and Amlin moved into the German market. Castel announced the first underwriting cell to join its club-style MGA platform, the Co-operative decided to retain its general insurance book, and USI is to acquire 42 US brokerage locations from Wells Fargo Insurance.
Willis formed a new global Human Capital & Benefits Practice, and the LMA chief executive outlined the organisation's 2014 focus.
Results started to trickle in, including Hyperion and Travelers, with an update from IAG, and the CIRC announcing that Chinese insurers had produced over 100% improvement in profits last year.
SCOR announced senior management changes, and its chairman Denis Kessler was named as the International Insurance Society's Hall of Fame inductee. Aviva cfo Pat Regan is to take up a similar position with QBE in Sydney, whilst Aviva's Group Operational Risk director, Michael Sicsic, is to chair the Operational Risk Consortium(ORIC).
Articles on the above topics were included in those added to the Insurance Newslink and Financial Newslink global database service today at www.onlystrategic.com