Of Special Interest


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10th May 2020

Newslink Insurance Global Trends-Editor's Weekly Overview

This week, first quarter financials and trading update statements dominated but because the impact of COVID-19 started in mid March, it is too early to project the figures going forward, particularly as the stock market subsequently rallied after a major drop. Those reporting included Arch Capital, Berkshire Hathaway, Everest Re, Greenlight Capital Re, Hannover Re, Hiscox, Peak Re, Munich Re, PartnerRe, and RenaissanceRe; AIG, RSA, Manulife and Sun Life Financial; and Aon and Marsh McLennan.
A range of technology news emerged after a quiet spell. Willis Towers Watson's latest report indicated a $912m InsurTech spend in first quarter, whilst a Juniper Research study estimated IoT platform revenue will reach $66bn in 2020; rising from $55bn in 2019, with, not surprisingly, a surge in telemedicine services anticipated. RMS announced significant new releases including New High Definition Models for European Severe Convective Storm, and key updates to their infectious diseases model, climate models and cyber risk solutions. COVID-19 will make consumers familiar with digitalisation and data sharing, according to GlobalData, and Willis Research Network announced a new partnership with Cloud to Street, a global flood-mapping and monitoring platform. Helvetia Austria chose the increasingly popular FRISS Fraud Detection solution.
Insurance Europe published a position paper on the European Commission’s proposal for a European Climate Law. Allianz Global Corporate & Specialty’s(AGCS) advised on preparing to re-opening businesses. AIG announced the largest syndicate ever to be launched at Lloyd's, and Hiscox made an equity placing. SCOR successfully sponsored a new catastrophe bond. Evertas said risks associated with cryptoassets are more complicated than the insurance sector perceives, and Protecdiv partnered with US national independent broker Cobbs Allen. There were senior appointments at RSA, PartnerRe, TMK, BMS, and THB.

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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