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29th September 2013

The Global Insurance Week
Trend

This week, Towers Watson issued surveys on the US and European markets indicating the growing acceptance of telematics in the motor insurance sector, whilst J.D.Powers published another of its US customer satisfaction reports. Analyst Celent with Agencyport Software launched The Insurance Industry Insight Report, an annual study of the attitudes and aspirations of insurance industry executives. There was a focus on IT decision makers in the London Market, Europe and global reinsurance, and complex commercial/specialty sectors-the report identified a culture shift. Lloyd's announced reduced profits for the first half as investment income dropped significantly, and the IUA released Company Market gross written premiums for 2012, closely behind the Lloyd's Market in total.
There were also reports from Swiss Re on the rising mortality protection gap in Latin America, and Willis Re on why increasing capital coming into the reinsurance market was good news for mutuals.
EIOPA issued its final Guidelines in preparation for
Solvency II late on Friday-KPMG were quick to comment and there will surely be others expressing their views in the coming week.
Asta is to manage a new Lloyd's Syndicate for Axis Capital who is spreading its global underwriting platform, Liberty Mutual is integrating its Specialty units, and Allianz Corporate & Specialty also announced a restructure. CGSC increased its presence in the London Market by acquisition and announced results. New York Life Investments moved for Dexia Asset Management, RBS sold more Direct Line shares, and Austrian insurer Uniqa is to raise E750m.
Allianz in the UK went live with Guidewire's ClaimCenter, and Quindell Portfolio invested in National Accident Repair Services in the UK and PT Healthcare Solutions in Canada.
Milliman acquired in Argentina, and Agencyport and iPartners' solutions went live in the US, with Insurity completing the integration of DataCede's reinsurance application. Xchanging announced a free wifi service for the London Underwriting Centre(LUC).
Aviva appointed a new head of general insurance for UK and Ireland, Allianz had a management reshuffle as its Italian ceo is to head its Asia Pacific business. Barbon appointed a new ceo and chairman.