12th June 2022
This week, AXIS Capital Holdings announced a series of actions designed to advance leadership in specialty underwriting–and the latest in a multi-year effort that has seen the company increase profitability, lower volatility, and strengthen the portfolio, all with an eye toward delivering greater value to existing and new customers-the actions reflects the focus the company is placing on specialty underwriting. Howden Group created a new $30bn force in global broking through the acquisition of TigerRisk. Marsh published its UK Cyber Insurance Trends Report for 2021. A new study from Juniper Research found the value of enterprise cybersecurity spend will exceed $226bn in 2027, up from $179bn in 2022-this growth of 26% over the next 5 years reflects the increasing maturity of the cybersecurity market, which continues to evolve as new threats emerge-the report identified a rising awareness of vulnerabilities, alongside emerging threats, including ransomware and DDoS(Distributed Denial of Service) as key drivers behind the increasing spend. Invesco Real Estate launched its first European debt fund with an initial E1bn fund raise target-primarily backed by insurance capital, demonstrating the strategy’s attractiveness for insurance firms’ Solvency II requirements. According to GlobalData Research, almost 30% of UK consumers see work-life balance as the most important benefit as trials for a four-day working week continue.
Insurance Europe said that European Commission(EC) Retail Investment Strategy must account for existing rules, be thoroughly tested and demonstrate proven benefits for consumers. AMICE reported that European mutual/cooperative insurance market share was at an all time high. The Personal Finance Society(PFS) produced guidance for financial planners on how to engage with clients approaching later life and empower them to make care funding decisions sooner rather than later. The Geneva Association announced a new report-"Insurance Development in Emerging Markets:"The role of public policy and regulation". There was an update on revisions to the schedule of the IPCC Synthesis Report.
Duck Creek Technologies joined the Microsoft Azure Marketplace, whilst WTW announced the next phase in it's climate diagnostic tool’s development with instant TCFD reporting capability.
Liberty Mutual chairman and ceo David H. Long is to retire at the end of 2022-Timothy M. Sweeney will replace him as ceo. There were senior appointments at Arch Capital, DARAG, IQUW, and SiriusPoint.
-NEWSLINK GLOBAL TRENDS DATABASES-A STRATEGIC PERSPECTIVE-
REGISTER FOR A 14 DAY FREE TRIAL TO ASSESS OUR GLOBAL TRENDS SELF-SERVICE AND CREATE SPEEDY REPORTS at onlystrategic.com
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 36,000 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.