Of Special Interest


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31st August 2014

Newslink Opinion: Weekly Insurance Global Analysis

This week, Standard & Poor's published articles on opportunities for reinsurers to collaborate with governments to mitigate losses from catastrophes, and contrasted reinsurers in CEEMEA with Asia Pacific. Fitch predicted a rise in mergers and acquisitions in the reinsurance sector, and looked at US life insurers' investment strategies in 2013, whilst A.M.Best discussed the rise in US life insurers' share prices. Swiss Re issued a preliminary sigma report estimating first half global catastrophe and man-made disaster losses, whilst SNL reviewed the major European reinsurers half year results, as the warm up towards the annual Monte Carlo Redezvous continued.
South African-headquartered global insurer Discovery is to partner with US telematics specialist CMT, RMS is collaborating with China Re on its China Typhoon Model, and TIA Technology launched a cloud-based Business Intelligence solution, in a quiet holiday week for western insurance IT suppliers.
Apollo Global Management is in an exclusive bid scenario for Portuguese insurer Tranquilidade, Enstar acquired in South Carolina, a Munich Re subsidiary is enabling Steadfast to to acquire Calliden Group in Australia, and Willis Ireland acquired a range of pensions/financial advisory businesses. Catlin is to partner with Globex International, CGSC is steamlingning and reducing costs, and JLT announced a major push to increase its involvement in the US specialty sector, and also a merger between JLT Specialty and Lloyd and Partners.
Half way results still flowed-including Baloise(a good start), acquisitive Fosun Group, R&Q(reported a loss but optimistic), and Charles Taylor.
California and Virginia insurance supervisors have joined the international IAIS MMoU, and China regulator CIRC said that the country could become the second biggest insurance market globally by 2013.
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