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4th August 2019

Newslink Global Insurance Trends-The Week

This week, second quarter and half year financials started to flow-they included Allianz(in line to meet full year targets), AXA(XL and health going well), Generali(increases across the board), RSA(solid result with underwriting on track), and Direct Line(ceo James pleased with progress).
Arch Capital entered into an agreement to purchase Barbican Group Holdings and doubled net income in the second quarter. AXIS Capital, Fairfax Financial, Hiscox, Markel, and Swiss Re reported positive second quarters, but insurance underwriting earnings were down at Berkshire Hathaway. The big three brokers Aon, Marsh & McClennan, and Willis Towers Watson were all showing progress at half time.
Lloyd's welcomed eleven new teams of InsurTech disruptors to join its innovation accelerator. Duck Creek expanded its offerings through a relationship with Milliman’s Datalytics-Defense platform, aimed at insurers seeking deeper understanding of their litigation bills and effective cost-benefit analyses of their defence strategies. Willis Towers Watson launched a disruption action plan specifically to deal with drone technology.
The London Market Group(LMG)said it will reach out to newly-appointed UK Government ministers and officials to ensure they understand the implications of a “no deal” Brexit to the London Market. Insurance Europe responded to an EIOPA opinion paper on sustainability in Solvency II. The Financial Conduct Authority(FCA) published a package of pension-related proposals designed to improve the quality of pension transfer advice and to help consumers get better value from their pension.
SOBC DARAG announced the launch of its new office in Bermuda in a significant expansion of its US and Bermudian operations, whilst Nexus moved for MGA Plus Risk Limited(PRL). There were senior appointments at Argo Global, Markel International, and Willis Towers Watson. Everest Re Group announced Juan C. Andrade as coo effective 1st September and from 1st January, he will succeed Dominic J. Addesso as president and ceo.
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com