Of Special Interest

11th May 2014

Newslink Opinion: Weekly Insurance Global Analysis

This week, results and interim management statements were to the fore. They included AIG, Allianz(highest quarterly revenues), AXA,ING(adding a further capital boost to its upcoming insurance IPO), Mapfre, RSA(settling down), Sun Life Financial, Arch Capital, Beazley, Hiscox, Markel, Munich Re, Skuld, Swiss Re, XL Group(also selling its closed life reinsurance book), Friends Life Group(the new name for Resolution UK), Legal & General, and Prudential(all three UK life insurers were confident of the future), and Marsh McLennan.
Velocity reported that US insurers could improve their response time to enquirers, Lloyd's looked at catastrophe modelling and climate change, and Marsh said that global insurance rates had declined in the first quarter.
Hub International acquired three more brokers/agencies in the US, and Equinox Global was approved as a Lloyd's coverholder in the US after opening a New York office.
On the telematics front, Modus and MyDrive are to deliver a combined offering for the motor insurance sector, Quindell updated on progress in Canada, and The Floow announced it is to work with NIG in its fleet business. Pegasystems acquired a social media specialist company, and TIA Technology signed up Icelandic insurer VIS, and launched a mobility solution for field inspectors. Polaris Software launched Life Claims in the Cloud at the ACORD LOMA Forum, Xuber published specific configuration packs for the US market and were bullish about prospects, whilst Mutual of Omaha upgraded to the latest version of FINEOS Claims.
Lancashire Holdings made two senior appointments in London.
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