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6th May 2018

Newslink Global Insurance Trends-The Week

This week, the Insurance Newslink Global Trends Database Service added its 50,000th linked article from original sources.
Meanwhile, Fitch reported that the sector outlook for global reinsurance remains negative given intense market competition, the influx of alternative capital that continues to pressure pricing, and persistently low investment yields that strain reinsurer profitability. New figures released by the Association of British Insurers (ABI) and Group Risk Development(GRiD) showed that the insurance industry paid out a record £5bn in protection claims in 2017–representing an increase of more than £340m year-on-year, and Inclusion @Lloyd's launched a third report on diversity and inclusion(D&I) across the insurance sector.
Charles Taylor InsureTech hit the headlines-signing a three-year contract with the London Market Group(LMG) to deliver a delegated authority solution to the Lloyd’s and London company markets, and also acquiring Inworx to build a footprint across Latin American. Allianz said it was reinventing itself for the digital era, and RSA relaunched its award-winning risk management software. Beazley partnered with Weather Decision Technologies(WDT) to automate the payment of claims and introduced a simplified Weather Guard digital policy, whilst Ed is to partner with geospatial data enrichment and analytics specialist SpatialKey, Guy Carpenter announced a two year strategic relationship with CyberCube Analytics, and Willis Towers Watson introduced a new version of its Radar pricing software. IRM's Internal Model Industry Forum(IMIF) published its ninth guidance document for the insurance market, and InsurTech honcho received authorisation from the Financial Conduct Authority(FCA).
Aviva is to offer a goodwill payment to preference shareholders who sold their shares during a period in March, and separately announced a £600m share buy-back. Pool Re published its latest Terrorism Frequency Report, which coincided with its 25th anniversary, and Swiss Re announced its expansion in the African market.
First quarter results and trading updates flowed-they included AIG, Allstate, CNA, Liberty Mutual, MAPFRE, The Hanover, Manulife, MetLife, Direct Line and Esure; and Aspen, Argo, Lancashire, RenRe, Swiss Re, Validus, XL Group, and JLT. There were senior appointments at Pioneer Underwriters, Swiss Re, and TMK.
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, report facilities, and a free 14 day full trial.