24th September 2023
This week, Insurance Newslink continued its new regular mid-week feature highlighting key trends from articles covered in the last three months relating to West and East Europe.
Gallagher Re launched the first in a series of Gray Rhino research papers-the papers are designed to raise awareness of insurance industry challenges before a major event occurs and this first publication addresses mass-lapse risk in European life insurance. In its new report "A turning point for offshore wind", Allianz Commercial highlighted growth opportunities, tech innovations, risk trends, and loss patterns for the global industry. With just two and a half months left until the end of the 2023 North Atlantic hurricane season, the question expert commentators are wrestling over is what is set for the remaining season-James Cosgrove, a senior modeller at Moody’s RMS, seeks to answer this question in a new blog. Undeclared car modifications are the primary cause of disallowed car insurance claims in the UK, according to new research by Forbes Advisor.
Lloyd’s, on behalf of the Sustainable Markets Initiative’s Insurance Task Force, announced a partnership with the United Nations Capital Development Fund(UNCDF) to scale insurance access for climate-vulnerable countries, whilst the Lloyd’s Market Association(LMA) announced the launch of its Environmental, Social and Governance(ESG) Academy, designed for professionals within the Lloyd's Market and the global (re)insurance sector. The Financial Conduct Authority(FCA)wrote to insurers warning that more action must be taken to ensure good consumer outcomes.
Kayna, the award-winning embedded insurance infrastructure platform, closed a E1m pre-seed funding round. PoloWorks launched its new digital market offering, Polo Digital, to support Blueprint 2 and the digitisation of the London Market. Sapiens International announced that the American Armed Forces Mutual Aid Association(AAFMAA), a non-profit financial solutions provider for military families and Veterans, selected its Pro Series Customer Acquisition SaaS solution. Corvus Insurance, a leading cyber underwriter powered by a proprietary AI-driven cyber risk platform, announced that it has expanded its relationship with Travelers. Santander is advancing towards the launch of Santander Insurance Holding, a new company to reorganise and oversee its insurance businesses across the world-Santander Insurance Holding will enhance the Group's insurance operations, with a simpler structure, a better proposition and customer service in all of the bank's markets. Dale Underwriting Partners agreed a strategic partnership with CVC, and SiriusPoint announced a MGA partnership with Nordic Marine Insurance. Gallagher signed an agreement to acquire US-based Eastern Insurance Group. Talanx aims to increase capital by up to E300m. Phoenix Group reported half-year financials.
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