Of Special Interest

5th October 2014

Newslink Trends: Weekly Global Insurance Analysis
Trend

This week, Allianz surprised with management changes-amongst them, ceo Michael Diekmann is to retire, and Sergio Balbinot is to join from Generali.
Fitch looked at the potential impact of interest rate changes on the US insurance market, whilst Standard & Poor's warned on the UK flood potential scenario. PwC published a survey which indicated that UK insurers needed to restore customer trust.
EIOPA released its Multi-Annual Work Programme, and the chairman of the Indian insurance regulator, IRDA, said the domestic insurance industry needs a further $8bn capital injected, and mentioned the Insurance Bill at present being reviewed by a Select Committee which proposes increasing the present limit for foreign investment-eight years after it was first initiated.
A significant study called for the need to broaden accessibility and improve the quality of risk management and insurance education programs worldwide.
Ascot Re and AIG formed a new reinsurance platform in Bermuda, and JLT Re and March JLT, and Argo Re also announced developments. Markel Re appointed a new president/cuo to replace the retiring one, and AEGIS recruited a London Market veteran. S & P revised Zurich's outlook from stable to positive.
AIG has chosen the Accenture Life Insurance Platform, and Towers Watson has added functionality to its RiskAgility financial modelling offering and emphasized Solvency II reporting. Guidewire signed up US insurer Motorists for its InsuranceSuite, and Yodil and Discoverture are to partner for insurance analytics. Milliman opened an office in Cape Town.
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