Of Special Interest


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24th August 2014

Newslink Opinion: Weekly Insurance Global Analysis

This week, Fitch looked at the increasing interest in reinsurance in AsiaPac, Standard & Poor's reviewed issues for Scottish-based insurers post the upcoming referendum on Independence, and LIMRA highlighted the growth in sales of annuities in the US.
Chinese investor Fosun is to buy 20% of Ironshore, HDI-Gerling opened a commercial insurance unit in Brazil, and RSA is to sell its Singapore and Hong Kong books to Allied World. Compre completed its acquisition of HIR in Germany, and ING US spin-off Voya did a deal with RGA over a transfer of term-life policies.
Mastek UK has made two senior appointments to enable growth in the UK with an emphasis on general insurance and a wider spread in the life market. Cover-All's Policy solution went live at Society Insurance, and iPipeline was chosen by two more US insurers. HCL has a new BPO contract with life-run-off insurer, Chesnara, Open GI announced an MBO assisted by Montagu Private Equity, and Xchanging reported a successful implementation of eAccounts to nine brokers.
There were senior appointments at Towers Watson and AEGIS London, the latter recruiting two cyber risk experts.
Results were announced by Amlin, Arig, IAG, QBE(profit down and key initiatives outlined), Ecclesiastical, Phoenix Group Holdings(optimistic about future closed book acquisition possibilities), and Royal London. Quindell revealed strong growth but the share price dipped on concern about the level of cash.
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