- "2023 was an outstanding year for Conduit Re"-CEO Carvey
- Newslink Global Insurance Trends-Editor's Weekly Highlights
- Allianz record Operating Profit and Shareholders Core Net Income in 2023
- "AXA reported strong results in 2013"-CEO Thomas Buberl
- Zurich posts record profit; raises dividend; expects EPS growth to exceed 10% over cycle
- Beazley expands focus on cyber security services with creation of Beazley Security
- Alternative-reinsurance vehicles could continue to be the primary source of new capacity in 2024-Bloomberg Intelligence expired
- Duck Creek continues commitment to the Reinsurance Industry by welcoming Xceedance as an Inaugural Ecosystem Partner for Reinsurance expired
- Matu Assurance set to expand as it selects Fadata Core Solution expired
- Lloyd’s confirms Claire Schrader as General Counsel expired
- London Market-Insurance Newslink Global Trends-Editor's Quarterly Highlights expired
- Pricing adjustments are key to German P/C Insurers' earnings recovery-S&P Global expired
11th February 2024
Newslink Global Insurance Trends-Editor's Weekly Highlights
This week, Insurance Newslink continued its regular mid-week feature-highlighting key trends from articles over the last three months-relating to Publications, Research, and Surveys.
Global commercial insurance rates increased by 2% in the fourth quarter of 2023(down from a 3% increase in Q3), according to the Global Insurance Market Index released by Marsh-the fourth quarter marks the 25th consecutive quarter of rate increases-rates continued to be relatively consistent across almost all regions in Q4-as with Q3 and Q2, this was largely driven by a continuation of the trend for pricing decreases in financial and professional lines and a small decrease for rates in the cyber insurance market-moderating rate increases for property risks also contributed to the quarter’s results, with increased competition offsetting the impact of strong demand and ongoing losses. Lloyd’s announced a new USD Enhanced Yield Liquidity Fund on the Lloyd’s Investment Platformt-the new fund is specifically designed to offer an investment opportunity in place of long-term strategic cash held at Lloyd’s, targeting higher return opportunities, coupled with high liquidity and low Solvency II capital charge efficiencies. The Chinese property insurance industry is estimated to surpass $67bn by 2028 reported GlobalData.
Insurance Europe shared its views on the European Commission’s proposal for a 'Business in Europe: Framework for Income Taxation(BEFIT)-while the insurance industry supports the goal of harmonising corporate tax rules across the EU, it raises serious reservations about the current draft EU Directive. The Financial Conduct Authority(FCA) announced that multiple insurance firms have agreed to pause sales of Guaranteed Asset Protection(GAP) insurance, following a request from the FCA-the firms which have agreed to this action account for 80% of the UK GAP market.
Corvus Insurance, the cyber underwriter powered by a proprietary AI-driven cyber risk platform, introduced a newly expanded Tech E+O product that features an enhanced appetite backed by Travelers. Clearwater Analytics, a provider of SaaS-based investment management, accounting, reporting, and analytics solutions, announced that Paris-based Caisse Centrale de Réassurance(CCR) chose Clearwater to power its entire investment management processes and streamline its unlisted assets workflow-CCR is a state-owned reinsurer that provides insurance companies operating in France with state-guaranteed coverage against natural disasters and other exceptional risks in the public interest. Fadata announced that DICEUS has become an official partner of the Fadata Ecosystem-the DICEUS AI-powered chatbot, Vitaminise, will deliver Fadata clients customer experience through customised conversational flows and convenient features. Sapiens International Corporation announced that OPES Digital Insurance, the leading digital insurer in Vietnam, has gone live with Sapiens IDITSuite for Property & Casualty, coupled with Sapiens Intelligence, to modernise its core P&C insurance processes. Telematics insurance grows in popularity in the UK driven by lower premiums and environmental concerns according to The Green Insurer.
Hannover Re confirmed guidance for 2024 on the back of further improvements in terms and conditions and sustained attractive prices, whilst SCOR announced "very strong" January renewals. Asta announced the “in-principle” approval of an innovative syndicate-in-a-box(SIAB) to deliver a breakthrough insurance product that will accelerate the development of new therapeutic drugs. AnaCap and TA backed Germany-based MRH Trowe completed 4 bolt-on acquisitions in January. WTW launched a world-first parametric insurance protection for the endangered South Pacific coral reef system. Financials included those from CNA and Pro Global.
BACKGROUND TO NEWSLINK: HINDSIGHT-INSIGHT-FORESIGHT
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 30 years ago predicted this trend and
over that period of time has uniquely brought together
strategic intelligence by editing and indexing original
press releases across our proven matrix of insurance and
reinsurance markets and related IT/InsurTech trends
with a 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 57,000 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 37,000 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 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
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. 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
ACCESS OUR GLOBAL TRENDS SELF-SERVICE RESEARCH DATABASES AND CREATE SPEEDY REPORTS TO STORE, PRINT or E-MAIL
REGISTER FOR A 14 DAY FREE TRIAL at www.onlystrategic.com