Of Special Interest

15th November 2015

Newslink Trends: Weekly Global Insurance Analysis
Trend

This week, leading cedents talked about their reinsurance strategy at the Standard & Poor's/PwC 2015 Bermuda Reinsurance Conference. The Islamic Insurance Association of London(IIAL) held a conference in Dubai attended by leading figures and speakers from the London Market, and the Global Federation of Insurance Associations(GFIA) held a regulatory roundtable in Morocco, where the annual IAIS AGM was also held-Florida is the latest US state to join the IAIS MMoU. The Financial Stability Board(FSB) published a proposal to the G20 for the establishment of an industry-led task force on climate-related risks.
Lloyd's Market Association(LMA) formed a Chief Risk Officers(CRO) Committee, whilst The London Market Group(LMG) welcomed Treasury legislative progress for the establishment of a new ILS framework, and Gibraltar announced an ILS SPV PCC.
A BNY Mellon and Cambridge Judge Business School survey across six major markets highlighted a low level of knowledge by millennials regarding retirement saving.
Computer Sciences Corporation(CSC) made an offer for Xchanging-higher that the agreed bid from Capita, and Quindell intends to change its name, subject to General Meeting approval, to Watchstone Group. Aquila Underwriting deployed the Xuber MGA solution over diverse and disparate cells, and Sequel released a detailed checklist to take advantage of the Write-Back development in the London Market. Transactor Global Solutions announced structural changes, and joined the Managing General Agents' Association(MGAA). US-based Insurity won the ACORD Insurance Innovation Challenge, and FirstBest underwriting offerings were selected by QBE North America for its Specialty Lines unit. RDT appointed a sales and marketing director.
Chinese insurer Anbang moved for Fidelity & Guaranty in the US, Aspen Insurance is to enter Singapore through the Lloyd's Asia Platform, and also made an appointment, and AXA acquired and consolidated a bancassurance partnership in the Philippines. Beazley highlighted US growth, Hiscox strategy is working said its chief executive, and Novae Group reported higher GWP. esure also reported an increase in premiums, and Asia continues to show good growth for Prudential. Arch Capital appointed a president/coo, Tokio Solution Management in Bermuda named co-ceos, and Stephen Catlin was elected vice chairman of the International Insurance Society's board of directors-he was appointed to the IIS Hall of Fame in conjunction with this year's 51st Annual Seminar in New York.
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