- InsurTech investment deals 16% up in first quarter at $724m compared with 4th quarter 2017 says latest Willis Towers Watson Briefing
- New survey reveals the extent to which significant uncertainty remains in the industry concerning the approach to key Solvency II requirements
- Lloyd's receives regulatory approval for Brussels office
- CII publishes latest "Underwriter of the Future" report six years after the first report was published to review projections made in 2012
- IUA forms new cyber group dedicated specifically to considering the concerns of reinsurers
- GFIA issues new report-“Older and wiser: Solutions to the global pension challenge”
- Malaysian insurer Gibraltar BSN selects Majesco Distribution Management and Digital Solutions expired
- ABI comments on Justice Select Committee report on the Small Claims Track (SCT) limit expired
- Swiss insurers 2017 results indicate continued strength says Standard & Poor's expired
- AEGIS London appoints Humm as its new class underwriter for marine hull expired
- Millstream Underwriting becomes approved Lloyd's Coverholder expired
- Beazley warns on the need for GDPR preparation expired
21st January 2018
Newslink Global Insurance Trends-The Week
This week, the World Economic Forum published its Global Risks Report 2018, timed for the Davos elite get-together-Marsh and Zurich both commented on the report. Cyber incidents top UK business risks according to the Allianz Risk Barometer 2018 research. Both the London and International Insurance Brokers’ Association(LIIBA) and the International Underwriting Association(IUA)outlined their priorities for the London Market in 2018.
Guidewire joined Plug and Play’s ecosystem to advance P&C insurance innovation and collaboration, and also reported that Ontario-based Commonwell Mutual had chosen a range of its solutions. The honcho innovative app start-up was successful in a crowdfunding campaign, and aims to reduce insurance costs for UK motorists with its "reverse auction" strategy. DXC Technology was recognized as a 2018 Top 100 Global Technology Leader by Thomson Reuters, and FICO is partnering with Barbican to enable measurement of cybersecurity risk. Sequel, now part of Verisk Analytics, appointed experienced London Market IT specialist Ian Summers as its ceo from his previous post as business development director, leading telematics company The Floow named John Kramer as vp and head of North American operations, and SSP strengthened its software development with the appointment of a Software Engineering director.
On the company front, Liberty Mutual is to sell Liberty Life and regroup its P&C businesses. Argo renewed Harambee Re as its sidecar reinsurer for 2018, and RenaissanceRe is to acquire a minority shareholding in Catalina. Randall & Quilter sold its Insurance Services and Captive Management Operations to Davies Group, and Thomas Miller moved for marine consultancy Brookes Bell. SCOR was named "Reinsurer of the Year" for 2017 by InsuranceERM.
Stuart Vann is to step down as ceo of esure but the latest trading result was positive, whilst Rothesay Life appointed a new chairman. There were senior management changes at Aviva, and appointments at the Lloyd's Market Association(LMA), Markel International, and broker Collinson.
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, report facilities, and a free 14 day full trial.