Of Special Interest


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9th February 2020

Newslink Global Insurance Trends-Editor's Weekly Overview

This week, Willis Towers Watson launched its inaugural Renewable Energy Market Review for 2020. GlobalData said insurers can help SMEs navigate Brexit turmoil, and also reported that Indian public sector general insurers’ market share was at an all-time low. Operator spend on Artificial Intelligence(AI) solutions will exceed $15bn by 2024 predicted Juniper Research in a new study. EIOPA launched a Consultation Paper on proposals for the Solvency II 2020 Review, whilst Insurance Europe responded to European Commission on evaluation of GDPR, and also welcomed the International Association of Insurance Supervisors(IAIS) work on climate change.
Aon announced the acquisition of Cytelligence, a Canadian-based cyber security firm that provides incident response advisory, digital forensic expertise, security consulting services and cyber security training for employees to help organisations respond to cyber security threats and strengthen their security position. RMS reported that the Risk Data Open Standard(RDOS) is now available for download from its open source public repository, and four new AI-powered Slice Mind services were announced in the US. Majesco is to acquire InsPro Technologies ,Novidea announced a new partnership with Xceedance, and Sapiens' release 9.7 introduced two new modules that support digital document management and producer management for its CoreSuite for Property & Casualty.
Allianz LIfe Insurance Japan reported a joint venture with AEON Financial Services who will acquire a 60% stake in ALIJ. Aviva completed a £1bn bulk purchase annuity transaction with the Trustee of the Co-operative Pension Scheme(Pace). Hannover Re increased premium volume by 14% in 1st January renewals, and SCOR Global P&C experienced a 15.8% GWP growth in 2019. Loadsure and ArgoGlobal announced the launch of their new InsurTech offering covering the US spot freight market, and Pioneer Underwriters is to be acquired by US'based K2 Insurance Services. The Tokio Marine Kiln(TMK) claims team were highlighted as market leader for 2020 in a Gracechurch Consulting report. Global Risk Partners announced a major investment from Searchlight Capital Partners. Financial reports included Beazley, RenaissanceRe, Aon, and Willis Towers Watson. There were senior appointments at the Chartered Insurance Institute(CII) and Fidelis.

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
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