- Swiss Re latest sigma study-"Global economic and insurance outlook 2020" says global economic growth will remain strong over the next two years, although momentum has peaked
- Lloyd's reviews potential mixed impact of Internet of Things(IOT) in new research in collaboration with University College of London(UCL)
- PPL usage beats quarter target
- FRISS Insurance Fraud Report 2018 indicates insurers prioritize fraud detection and prevention but there is room for improvement
- ABI reports UK motor insurance payouts up 4% averaging £23m per day in first nine months
- CII launches ambitious programme to bolster its outreach to young people across the UK, with over 1,000 schools to be targeted nationally in the new Discover Risk programme.
- RMS estimates that the insured loss for the Camp and Woolsey wildfires in California will be between $9 and $13bn expired
- Polaris announces Banga as new Managing Director expired
- Willis Towers Watson strengthens Insurance Consulting and Technology business with two senior hires expired
- Assurant appoints CFO, Europe expired
- Folgate returns to active underwriting expired
- SOBC DARAG Holdings acquires the entire share capital of SOBC Services 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.