Of Special Interest

24th April 2016

Newslink Global Insurance Trends
Trend

This week, EIOPA published a Consultation Paper to derive the Ultimate Forward Rate(UFR) under Solvency II, whilst Insurance Europe said there seems to be a misunderstanding about how insurance liabilities are calculated. Standard & Poor's explained its approach to hybrid capital structures under the new regulations. The Bermuda Government signed its declaration to the Multilateral Competent Authority Agreement for the exchange of Country by Country reports, and the Financial Conduct Authority(FCA) published a consultation paper on the proposed rules for the secondary annuities market. The European Commission and the World Bank signed an E14m agreement to facilitate catastrophe risk insurance for Central American countries and the Dominican Republic, as the Insurance Development Forum was launched with Stephen Catlin as chair. The Chartered Insurance Institute(CII) annual Public Interest Awards were announced.
Willis Towers Watson reported that employee engagement should play a larger part in insurance M&As, and with Confused.com revealed that UK motor premiums stalled in the first quarter. Meanwhile, Willis Corporate and Advisory reported that ILS issuance was a record for a first quarter. JLT Employee Benefits reviewed trends in the UK Medically Underwritten Bulk Annuity market.
Apax Partners is to buy 60% of Accenture Duck Creek and form a joint company with the consultancy. emapsite launched a UK postcode-based windstorm model, Guidewire
reported on its annual Insurance Forum in London, and more of its solutions were selected by an Argentinian insurer. Majesco announced in an extended agreement that it is to supply its PC Suite Cloud platform to Homesite Insurance in the US, and Startupbootcamp InsurTech ran is first Demo Day in London for 10 selected startups.
AmTrust moved for ANV Holdings, Advent Solutions Management outlined its growth plans, and Equinox Global launched its new online portal for brokers and clients- Willis Towers Watson also introduced its next generation credit risk placement portal. CNP is to acquire in Brazil, White Mountains completed the sale of Sirius to the Singapore-based investment arm of China Minsheng, and Lockton opened in Casablanca. Allied World and Travelers reported a drop in net and operating income for the first quarter, but QIC had a strong start to the year. CGSC appointed a Group Commercial manager, and Group ceo Steve Hearn is to extend his role at Lloyd's broker CGNMB as Gordon Newman steps down.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com-featuring advanced structured search and report facilities and a free 14 day full trial.