Of Special Interest

13th March 2016

Newslink Global Insurance Trends
Trend

This week, life and pensions results were buoyant. Firstly, Prudential revealed impressive results under new chief Mike Wells, with the only blot a rise in retail net outflows from its M&G investment arm. Aviva also produced strong 2015 financials as the Friends Provident merger of operations and associated savings were well ahead of schedule-on the general insurance side, Aviva registered its lowest combined ratio in nine years. Just Retirement showed good growth ahead of its merger next month with Partnership Assurance, and Old Mutual, reporting improved results, announced it is to restructure and separate its four profitable businesses by 2018. esure followed the trend of positive results set by Direct Line and Admiral last week. Allianz appointed Jackie Hunt and Gunther Thallinger to its Board.
On the regulatory front, the Financial Conduct Authority (FCA) launched the Senior Managers Regime for insurers and bankers, and the European Parliament approved the appointment of Fausto Parente as EIOPA's new Executive Director. The RIMES annual survey warned that asset managers needed to take a new approach to data management and governance, emphasizing the new Solvency II requirements.
The London Market Group(LMG) announced that, following a meeting of the the Target Operating Model(TOM) Steering Board, an Innovation Forum is to be formed, and that the PPL placing platform had entered the Market Acceptance Testing phase. Guidewire released a new Live Spotlight app to empower underwriters to make better decisions by automating the assessment of location-based risks, and Sapiens announced that its solutions had been chosen by Dentist's Provident and Iconica in the UK.
Hannover Re reported its fourth consecutive record year, and AIG finalised a reinsurance arrangement with Swiss Re relating to its US casualty business. Meanwhile, ex-AIG executive, John Doyle was appointed president at Marsh.
Berkshire Hathaway announced the appointment of Tom Bolt, performance management director at Lloyd's, as president of UK and Southern Europe for its booming specialty division, with Gregor Koehler as president of Northern Europe. Beazley produced its Breach Insight report indicating that cyber breaches though either hacking or malware almost doubled last year. CNA Hardy revealed that it had joined Lloyd's China platform, whilst Marketform made a range of senior appointments. Charles Taylor's revenue and profit both improved.
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 and report facilities and a free 14 day full trial.