Of Special Interest

13th May 2018

Newslink Global Insurance Trends-The Week
Trend

This week, Fitch highlighted the growth in the US cyber insurance sector. The Association of British Insurers(ABI) and the British Insurance Brokers' Association(BIBA) announced a new plan to help tackle excessive premium differences between long standing and new customers, and a SAS survey of senior UK insurance professionals relating to the upcoming IFRS17 indicated an increase in complexity and cost, but also improvement in financial transparency and additional benefits. ClimateWise Principles are set to become the go-to reporting framework for the Financial Stability Board’s(FSB) Task Force for Climate-related Financial Disclosures.
Clyde & Co warned that growth of wearable technology could be a ‘double-edged sword’ for employers. AIA partnered with WeDoctor-China’s leading technology-enabled healthcare solutions platform, and Guidewire announced the latest version of its software platform, with specific focus on commercial lines, brokers, underwriters, and GDPR compliance. Majesco reported a strong shift towards cloud revenues in a transformational year, and Sapiens ceo commented "In the first quarter, we advanced the execution of our long-term strategy to be a leading provider of insurance software solutions and services around the globe."
HDI Global Specialty was launched through the joint initiative of Hannover Re and HDI Global, under the Talanx umbrella. Lloyd's directed underwriters to terminate business associated with the National Rifle Association of America(NRA), and Tokio Marine received regulatory approval to set up a new insurance company in Luxembourg, with Brexit in mind. Allianz is to sell shares in Banco BPI to CaixaBank and reorganise its insurance partnership in Portugal.
First quarter results and trading updates continued to be announced-including some of the major players-AXA, RSA, Zurich: Beazley, Berkshire Hathaway, Fairfax Financial, Hannover Re, Hiscox, Munich Re, Skuld: Aon and Willis Towers Watson. There were senior appointments at Compre and Sedgwick.
Full articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink Global Trends Database Resource this week at www.onlystrategic.com featuring advanced self-search and reporting, and a free full 14 day access trial.
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