Of Special Interest


[x] [x]

12th January 2020

Newslink Global Insurance Trends-Editor's Weekly Overview

This week, the insurance markets fully returned from the long Christmas and New Year break. The London Market Joint War Committee commented on the increased Middle East tension. Lloyd’s Market Association(LMA) announced that the pilot classes for the modernised syndication pilot as part of the Future at Lloyd’s strategy will be Marine Hull and International Casualty Binders. Munich Re reported that 820 natural catastrophes caused overall economic losses of $150bn last year and Fitch Ratings said Australian bushfire insured losses are being eased by reinsurance but may rise. Consumer Intelligence highlighted that UK car insurance costs had accelerated for older drivers. The Prudential Regulatory Authority(PRA)issued Solvency II: Longevity risk transfers–simplification of pre-notification expectations- PS1/20 Overview.
Ebix and the Bombay Stock Exchange(BSE) received formal approval for a joint venture to act as a direct insurance broker(Life and General) in India, and Sapiens moved for Germany-based sum.cumo. SSP formed a partnership with Policyfast, a wholesale underwriting agency offering a range of insurance products to UK brokers, and Willis Towers Watson and EbaoTech are to collaborate to provide a robust, one-stop insurance middle office platform to accelerate digitisation.
Mitsui Sumitomo was part of the BEYOND Consortium that announced its submission of a bid to the Monetary Authority of Singapore for a Digital Full Bank Licence. Neon Underwriting is to go into run-off and Pool Re confirmed a number of significant steps to help reduce costs and improve the accessibility of terrorism insurance for businesses in the UK. Coverys European Holdings(CEH) formally launched and announced its first acquisition-Italy specialist AEC SpA, whilst Hamilton Insurance Group announced that its insurance-linked securities platform has a new name-Hamilton ILS. Beach Re acquired in Atlanta, and Capsicum Re launched its aviation reinsurance team. BGC announced the new name and brand for its global aerospace (re)insurance brokerage, and Tysers completed the acquisition of RFIB. There were senior appointments at esure, Catalina, Dale Underwriting Partners, Hiscox, UK P&I Club, HWI, and Willis Re.
Newslik interviews with Sian Fisher, ceo of the Chartered Insurance Institute, and Ian Summers, ceo of Sequel Business Solutions, a Verisk Analytics company, were also published.

Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
The Insurance Newslink self-search and automatic reporting service across all insurance/reinsurance sectors has been a trend recording catalyst since its launch in 1993-bringing together significant global market and IT/InsurTech intelligence from source-editing and linking across a Matrix of region/country, regulatory, surveys/research, results, and IT by business application area. The database contains over 52,000 linked articles and is updated twice-weekly.
A 14 day free full trial of the service is available from the website.
There is an opportunity to become a Marketing Partner leading to possible acquisition of our global Insurance and Banking Newslink database services.