Of Special Interest


[x] [x]

13th February 2022

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, ESG issues were to the fore-WTW said in a report that there is considerable lack of confidence on the part of global executives in their own organisations’ approach to reputational and ESG ‘risk readiness’-many believe that only a moderate amount of assessment has gone into these areas-the broker also reported in a survey of the UK With Profits Life sector that an increasing number of insurers are taking steps to rationalise their with-profits products and funds in order to simplify complex portfolios and address associated rising costs around emerging risk management solutions. Insurance Europe published an updated set of key messages on the European Commission's(EC)’s proposal for an EU Green Bond Standard(EUGBS), and also published its updated key messages on the EC’s proposals for the Corporate Sustainability Reporting Directive(CSRD), of which the industry is highly supportive. The Association of Mutual Insurers and Insurance Cooperatives in Europe(AMICE), the voice of the mutual and cooperative insurance sector in Europe reported that that it has become a supporting institution of the United Nations Environment Programme Finance Initiative Principles for Sustainable Insurance(UNEP PSI). Chaucer announced a new collaboration with Moody’s to revolutionise the way businesses manage their ESG profile.
Insurers need to adapt policies as the majority of UK consumers intend to continue working from home post-pandemic, said GlobalData-the research company also reported that the general insurance industry in Australia is estimated to reach $73.6bn in 2026. The Global Federation of Insurance Associations(GFIA) wrote to the South Korean authorities to ask for clarifications related to changes to data protection rules for insurers and reinsurers operating in the jurisdiction. The Personal Finance Society(PFS) is looking to gather evidence of the value of advice to challenge the Financial Conduct Authority’s(FCA) perceptions.
Altelium, the battery health InsurTech, has launched a new company, Altelium(North America) Inc., to allow businesses in the US and Canada involved in the manufacture, integration or application of electric battery cells to benefit from its bespoke insurance solutions. DeNexus Inc. announced the release of Version 4.0 of the DeRISK Platform, a tool that provides evidence-based authentic and transparent data in order for industrial companies to measure the financial impact of cyber risks on their business. FRISS announced double digit growth in a turbulent year for InsurTechs, and Verisk completed a strategic investment in Berlin-based Rocket Enterprise Solutions as part of its European expansion-Rocket is a fast growing InsurTech provider in the German property claims sector. RMS conducted the risk analysis for NN Re, part of NN Group, which will issue a new catastrophe bond through Orange Capital Re DAC.
SCOR took full advantage of the hardening P&C reinsurance market at 1st January 2022, delivering 19% premium growth. Hamilton Insurance Group announced the formation of Hamilton Select Insurance in US, and RiverStone International launched a Bermudan office. Financial announcements included those from CNA, Intact, manulife, and Zurich: Beazley and Everest Re; and WTW. There were senior appointments at Howden and TigerRisk.

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.