- Newslink Global Insurance Trends-The Week
- Swiss Re sigma reports provisional global economic and insured losses for first half
- Standard & Poor's looks at what impact continued growth of ILS will have on reinsurers' competitive positions
- Geneva Association publishes report headed " Ten Key Questions on Cyber Risk and Cyber Risk Insurance"
- FICO/Ovum survey indicates that UK firms having no cyber insurance dropped but only 38% say their cyber insurance covers all risks
- CII launches consultation to seek the views of insurance and personal finance professionals on its current Corporate Chartered proposition
- AAIS introduces openIDL(open Insurance Data Link) built on IBM Blockchain expired
- ACORD launches Adoption Toolkit to support the application of data standards for global reinsurance and large commercial risks expired
- Amazon considering entering UK insurance comparison market-GlobalData comments expired
- Zurich selects Guidewire Cyence Risk Analytics to leverage cyber risk knowledge and insight-to roll-out globally expired
- Aegon underlying earnings up and on target expired
- IAG reports financial year results 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.