Of Special Interest


[x] [x]

17th April 2022

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, a bipartisan group of US state insurance regulators led by Insurance Commissioners Ricardo Lara of California and David Altmaier of Florida adopted a new standard for insurance companies to report their climate-related risks, in alignment with the international Task Force on Climate-Related Financial Disclosures(TCFD). The TCFD standard is the international benchmark for climate risk disclosure and will help insurance regulators and the public to better understand the climate-related risks to the US insurance market, which is the largest in the world. This announcement during the National Association of Insurance Commissioners’(NAIC) spring meeting in Kansas City, Missouri, puts US state insurance regulators on the forefront of climate risk disclosure to protect consumers-insurance regulators from France, Switzerland, and the UK currently require TCFD-aligned reports. Fitch Ratings reported that the UK Non-Life Company Market maintained strong results in 2021, and also that the US Cyber Insurance is experiencing rapid premium growth and declining loss ratios. GlobalData estimated that the Life insurance industry in South Korea could reach $117bn in 2026.
Insurance Europe reported that European insurers have called for refinements to a draft EC proposal to implement OECD anti-base erosion rules in the EU, and also that insurers have outlined key messages on the Corporate Sustainability Reporting Directive in view of trialogue discussions between EC, Council of the EU and European Parliament.
Juniper Research estimated that users of Digital Identity Documents could exceed 6.5 billion globally in 2026; enabling rapid advances in eGovernment Services. Caribbean insurer Guardian Group has selected Sapiens to streamline customer acquisition and agent's experience.
Swiss Re successfully closed a multi-year stop-loss transaction, with financing ultimately provided by J.P. Morgan and various institutional investors-the transaction, which covers underwriting risks across the entire Swiss Re Group, is the first of its kind to combine both bank financing and insurance-linked securities. Xenia acquired a majority stake in Hong Kong-based Capstone Insurance Brokers. Catalina reported 2021 results. AIG appointed Tom Bolt as evp and cro, whilst Compre named David Presley for the newly created role of ceo, North America.


Increasingly, financial services companies and their regulators are taking a global view as instant communications make the world a smaller place and are accelerating the maturity of developing countries. Insurance Newslink 29 years ago predicted this trend and over that period of time has uniquely brought together strategic intelligence from source across all insurance/reinsurance markets and related IT/InsurTech trends into an internet-based Research Matrix database self-service and reporting facility. As technology and analytics progresses, with such advances as machine learning, artificial intelligence, and dispersed digitisation uplift following the COVID-19 pandemic, the service will play an increasingly important role in adding value to internal company analytics in a global market context.
Today, Insurance Newslink has over 55,000 expertly selected articles from source indexed across a Matrix of date, continent /country, company, regulatory, company, research/publications, and IT applications by business function. Our Banking Newslink Global Trends service commencing in 2000 has over 35,000 articles, and Financial Newslink combines both services at www.onlystrategic.com
Insurers, reinsurers and banks need to know about each other’s positioning and IT suppliers of all types and sizes need to understand the key business and regulatory issues and opportunities. The surge of InsurTech, FinTech and digitisation initiatives have emerged from all over the globe-only a few years ago, the Chinese were finding out about progress in the US and Europe and could well now be ahead of the field. Speedier change is impacting the mind-set of the customer/consumer.
The service acts as a strategic catalyst enabling quicker, better decisions across market players and suppliers bringing global market,IT, and regulatory trends together, adding value for student through to CEO.
Our content is read broadly equally across The Americas, Europe, and Asia Pacific by all ranges of management and we are increasing the number of distribution partners. Our service is available from a single user to a corporate subscription.
For the past 40 years, we have worked with over 100 market players and major technology suppliers-go to our consultancy site-Shillito Market Intelligence Ltd at www.shillito.org.uk for more background and a list of some of our clients. For the last 29 years, our Newslink Global Trends Research Database has been proven as the core content for our numerous white papers, university business school lecturing, training, speaking, and chairing events globally.