Of Special Interest

15th May 2016

Newslink Global Insurance Trends
Trend

This week, first quarter results were dominated by majors-Allianz(on track), Generali(happy with technical result in difficult investment environment), Zurich(action on general insurance beginning to take effect), Berkshire Hathaway(underwriting earnings more than halved), Hannover Re(a "gratifying" quarter) Munich Re(profit down), and Chubb(increase in operating income and book value per share). Sun Life Financial improved earnings across all four portals. Hiscox and Novae Group both had a good start to the year, and Willis Towers Watson was bullish, following the merger. Skuld reported its best combined ratio for five years in 2015 and the UK P&I Club's underwriting result was on target. Generali also announced the formation of a Global Business Lines & International function, to be headed by Frederic de Courtois who is joining from AXA-European senior management hopping continues.
Standard & Poor's reported that global multi-line insurers were best placed to withstand the industry's top challenges, and also reviewed the potential impact of the Fort McMurray wildfire on Canadian insurers. A new survey indicated that people are increasingly buying insurance online in the UK-the survey compared the various online methods being used with an earlier survey three years earlier. Insurance Europe reported on case studies examining successful initiatives to promote European insurance workers' wellbeing. The London Market Group(LMG) published its first market-wide Talent Report which provided "food for thought in a number of areas".
EIOPA published its year-end report 2015 on the Functioning of Colleges of Supervisors and Accomplishments of Action Plan. The Joint Committee of the European Supervisory Authorities(EBA, EIOPA, ESMA-ESAs) published its Opinion on the European Commission’s(EC) intention to amend the draft Implementing Technical Standards(ITS) on the mapping of External Credit Assessment Institutions’ (ECAIs) credit assessments under the Capital Requirements Regulation(CRR) and Solvency II Directive-the Opinion was produced in response to the EC’s proposed amendments to the draft ITS. KPMG launched Solvency II Vantage Analytics, a data aggregation solution,to enable insurers to compare with the market.
Efma Accenture Innovation in Insurance(13) programme announced nominees globally for awards across five different categories. The Claims Cloud announced a new IT solution at the BIBA Conference, and LexisNexis Risk Solutions added Flood Re data to its platform. Sapiens announced higher revenue and profit, and Unirisx completed a comprehensive rebranding. RSA appointed a chief Data officer for the UK and Western Europe.
Chadid Capital acquired 75% of UAE-based Al Manara Insurance Services, Tokio Marine Kiln(TMK) launched its Aviation Consortium on Lloyd's Asia platform, W.R. Berkley formed Berkley Insurance Asia, and Willis Towers Watson appointed a ceo of its WCMA investment banking business.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com-featuring advanced structured search and report facilities and a free 14 day full trial.