Of Special Interest

17th November 2013

The Global Insurance Week
Opinion

This week, A compromise breakthrough in Solvency II discussions was generally greeted with support from the industry and commentators.
Standard&Poor's looked at French insurers' prospects, Fitch reviewed new legislation in Florida which could reduce the cost and fraud in respect of auto personal injury claims, and
BNY Mellon predicted the cat bond market could double by 2018.
The latest J.D.Power survey indicated an improvement in customer satisfaction concerning property insurance claims.
AXA is to take a majority stake in a Columbian insurer, Generali has bought out minority interests in its Asian operation, and Vienna moved for Skandia Poland. Discussions between Swiss Re's Admin Re and the Phoenix Group terminated, and RSA saw its rating being upheld by Fitch but lowered by S&P.
Accenture published a survey on the impact of IT on US commercial lines underwriting, and Earnix and ISO looked at the use of predictive analytics amongst North American P&C insurers. Ebix reported lower revenue and net income, whilst Sapiens priced a share offering. Guidewire reported that Amerisure had chosen its ClaimCenter solution, and Tinkoff Online had become the first Russian insurer to sign up for its InsuranceSuite. Quindell Portfolio raised £200m, and FINEOS opened a London Market office. Agencyport's Open Xposure was chosen by Willis for its Global 360 initiative, and Everest Re selected the Xuber for Reinsurance solution. The Insurer Cloud and The Broker Cloud were both featured in UK announcements.
The Swiss Life ceo is to step down in the middle of next year-his internal successor was named.
Newslik reported on results and management statements from Admiral, esure, Amlin, Catlin, Kiln, Talanx, Zurich, and Prudential.