Of Special Interest


[x] [x]

16th May 2021

Newslink Global Insurance Trends-Editor's Weekly Overview

This week, it was announced that Willis Towers Watson assets worth $3.57bn are to be acquired by Gallagher, which should speed up the long-running Aon/Willis merger discussions. A new Lloyd’s report highlighted the importance of insurance to safeguard employee value, and an initiative was launched to improve Diversity & Inclusion in the London Market. EIOPA launched its 2021 insurance stress test, and according to its Risk Dashboard, European insurers’ risk levels remain broadly stable at present. The GFIA said IAIS should focus on sector-wide vulnerabilities not “systemic importance” of individual insurers. Insurance losses related to natural catastrophes and COVID-19 could hit more than $100bn for 2021, warned Bloomberg Intelligence who also issued a new report showing that the estimated economic cost of cyber-crime exceeds $1tr, indicating the growing need for cyber insurance. A Pool Re report highlighted public transport vulnerabilities to terrorism.
Juniper Research said telemedicine will save the global healthcare ndustry $21bn in costs by 2025. Duck Creek Technologies won two XCelent Awards in EMEA for Property Casualty Claims Technology and Service, FINEOS acquired Spraoi, a leading provider of machine learning capabilities for the Group Life and Employee Benefits sector, and Guidewire announced the latest release of its Cortina cloud platform. Shift Technology closed a Series D investment round of $220m. The latest release of Radar from Willis Towers Watson offers insurers stronger governance, faster processing and more flexible modelling. Gracechurch awarded its Service Quality Marque to six London insurers in 2021, following a year in which the Market faced unprecedented service challenges.
Ardonagh is to acquire Uday, one of the largest consumer Personal Medical Insurance and Protection Insurance brokers in the UK. First quarter financials continued to flow-they incuded Allianz, Liberty Mutual, and Zurich; Beazley, Conduit, Enstar, PartnerRe, SiriusPoint, White Mountains: and Skuld's financial year result.


With the COVID-19 pandemic necessitating a dispersed workforce resulting in a surge in digitisation, climate change ongoing issues, growing cyber threats, and public trust a continuing challenge, there is an increasing need for key staff to keep in touch with global market trends and to be able to speedily drill down on areas of interest and print/email an automatic report.
Full articles on the topics in the Editor's Weekly Overview above are included in those added this week to the unique Insurance Newslink Global Trends Database Research Matrix service at www.onlystrategic.com

The self-search and reporting service across all (re)insurance sectors has covered key global trends since its launch in 1993-bringing together significant worldwide market and IT/InsurTech intelligence from source-editing and linking across region/country, regulatory, surveys/research, results, and IT by business application area. The database contains over 53,000 linked articles and is updated twice-weekly.

Sister-service Banking Newslink contains over 34,000 articles, and Financial Newslink is a combination of both database services.