Of Special Interest


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7th May 2017

Newslink Global Insurance Trends

This week saw a wide range of first quarter results and trading updates-they included AIG(into profit), Aflac(reduced revenue and net earnings), Allianz(operating profit improved), Berkshire Hathaway(into underwriting loss), CNA(first quarter boost), MAPFRE(net earnings up), MetLife(operating earnings up but net income hit by derivative losses), RSA(started 2017 well), The Hartford("off to a very good start"), Direct Line("positive start" says ceo Geddes), esure(started better than expected), Hastings Group(growth continues), Lancashire(profit up but combined ratio increases), PartnerRe(net income impacted by Ogden changes and other factors), RenRe(net income down but confident), Swiss Re(solid first quarter with major hit from Cyclone Debbie), White Mountains("solid quarter" and OneBeacon to be acquired by Intact Financial), Marsh & McLennan(revenue and operating income both up), and Willis Towers Watson(ceo Haley vey pleased with first quarter result).
Chubb completed the integration of its key operating companies in Europe, Old Mutual agreed to sell its Indian joint venture stake, and Fidelis announced it was to develop further its niche specialty offerings. Liberty Mutual is to combine its existing Liberty International Underwriters(LIU) US business and Ironshore’s US specialty lines under the Ironshore brand. There were senior appointments at Liberty Specialty Markets(LSM) and StarStone. A Marsh report reviewed countries with potential succession risks.
Insurance Europe said, in response to a European Commission(EC) consultation, that there was no need to amend current liability regimes or create specific liability rules for new technologies. Capgemini became a Platinum Delivery Partner for Duck Creek Technologies, Canadian insurer Co-operators chose further Guidewire solutions, and Sapiens' products were selected by a leading Nordic insurer. Willis Towers Watson Securities launched its inaugural Quarterly InsurTech Briefing, and a GlobalData report looked at leading UK insurance comparison sites.
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.