Of Special Interest

18th October 2015

NewslinkTrends: Weekly Global Insurance Analysis
Trend

This week, a Lloyd's commissioned report looked at accumulations of liability risk and a big data solution to improve understanding. Meanwhile, Willis Re unveiled an enhanched approach to catastrophe risk modelling. Grant Thornton's Insurance Hubs Report noted the recent reduction in redomiciling, and whilst being bullish about the future of the London Market,felt that London was unlikely to become a centre for housing an insurance ILS market. Xchanging and Capita agreed on a recommended final cash offer, but the former was continuing talks with Apollo Global Management in search of a possible higher offer. A survey of IT professionals in the UK and France indicated that nearly half thought there was "insufficient need" to invest in cyber insurance. Willis issued its latest Political Risks Index, Pioneer Underwriters was approved as a Lloyd's coverholder for US Excess & Surplus lines, the Probitas Syndicate commenced underwriting, and Thomas Miller took a controlling stake in Osprey Holdings.
The UK Treasury and the Financial Conduct Authority(FCA) launched a joint consultation on exploring ways of improving how consumers could access financial advice. Insurance Europe, AIA, and ACLI reiterated their support for full inclusion of insurance in the Transatlantic Trade and Investment Partnership, and Accountagility published top tips to aid insurers in connection with the looming Solvency II deadline.
EY predicted strong profits for UK home insurers as claims fell, but, for the first time, expenses were higher than claims. Conning reviewed trends in the US Life Settlements market.
emapsite introduded a geocoded perils model to enable UK insurers to assess subsidence risk for every property in the country, ISO ClaimSearch developed an integration model for claims systems vendors, and TIA Technology was chosen by PKO Bank Polski for its entry into the insurance market.
Tryg made an early announcement of third quarter financials saying its technical result was "a stable development." ASSA is to take over AIG operations in Central America, and Catalina subsidiary Glacier Re is to acquire Allianz Suisse Re.
There were senior appointments at ANV, Canopius, Capsicum Re. QBE Insurance(Europe), and XL Catlin, whilst Lloyd's Market Association's David Powell was appointed deputy chairman of Thatcham Research.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service on Wednesday and today at www.onlystrategic.com