Of Special Interest


[x] [x]

21st August 2016

Newslink Global InsuranceTrends

This week, a Swiss Re sigma report indicated that of the estimated $71bn of economic losses from natural catastrophes and man-made disasters in the first half of the year, 44% were insured losses. Standard & Poor's issued several reports-two on the reinsurance market with an eye on the Monte Carlo Rendezvous next month, said that reinsurers could review their exposures if catastrophe losses increased to normal levels, and strong enterprise risk management was the key to global reinsurers' success and survival. The rating agency also looked at the impact of continuing low interest rates on French life insurers, and opined that the recently introduced Insurance Act 2015 in the UK is unlikely to impact the ratings of insurers. Axco reveiwed the challenges facing the Brazilian insurance market, and Marsh issued its latest quarterly Global Insurance Market Report revealing that decreases in rates were continuing to slow down. AXA UK published a research report which indicated the level of savings in premiums and claims if simple steps to avoid accidents and invest in preventative measures are made.
KPMG reported that InsurTech investment continue to attract significant attention. FINEOS Claims solution was implemented in New Zealand, and Sequel appointed a Product Owner for its Impact risk aggregation solution for the global (re)insurance market. Sapiens partnered with Idomoo for personalised video technology, and UNIQA launched a Jive-powered interactive intranet.
On the results front, Admiral improved profits, and growth internationally, but analysts showed concern regarding in drop in solvency ratio in the first half, which the company said was down to low interest rates. Also reporting interim results were Royal London(record life and pensions new business), Swiss Life(on target) Arig(net profit down despite higher growth), QBE("solid half year"), and Talanx(net income up and rise in international business). Aetna announced that it has decided to reduce its US individual public exchange presence next year because of a continuing pre-tax loss, AIG is to sell its mortgage insurance arm UGC to Arch Capital, Aspen opened in Dallas, and Legal & General agreed its first infrastructure transaction in the US. Liberty Mutual increased its stake in its Indian joint venture, and also announced it is to create a new JV in China, whilst ArgoGlobal acquired renewal rights to Allied World's marine hull book in Asia. Sompo Canopius appointed a ceo for Asic Pacific and MENA.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com -featuring advanced structured search and report facilities and a free 14 day full trial.