Of Special Interest

10th August 2014

Newslink Opinion: Weekly Insurance Global Analysis

This week, results dominated the action. There was good news from AIG and Allianz, whilst most other ceo's seemed to be satisfied with their company's performance. Those reporting included Ageas(who is to sell its UK-based life protection business to AIG), Aviva(a work in progress), esure, Friends Life, Legal & General, Manulife. The Hanover, RSA(on the road back after its Irish debacle), Standard Life, Towergate, and Zurich. The European reinsurance big guns-Hannover Re, Munich Re, SCOR, and Swiss Re also published financials, as did Argo, Catlin, Endurance Specialty(fairing well despite the cost of its failed bid for Aspen), Fairfax Financial, Kiln, Markel, and Novae Group.
An Xchanging survey indicated US insurance technology trends, FINEOS launched a substantial release to its Claims software, and Sterling Insurance Group chose Xactware claims solutions.
A.M.Best reviewed the global p&c and reinsurance M&A scenario, Insurance Europe analysed the stability of the insurance market between 2003 and 2012, and Towers Watson reported on the drop in UK enhanced annuity sales.
Hub International acquired in Florida, and Stonebridge International Insurance was fined over £8m by the UK Financial Conduct Authority(FCA) relating to the sale of accident insurance policies.
There was a senior management appointment at CNA Europe, and Julian Adams, executive director of Insurance Supervision at the Bank of England is to become Group Regulatory director at Prudential.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service on Wednesday and today at www.onlystrategic.com