Of Special Interest


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20th December 2015

NewslinkTrends: Weekly Global Insurance Analysis

This week, Solvency II, as expected, hogged the headlines.Insurance Europe published a survey indicating that there was widespread "gold plating", but many insurers were feeling the benefits of the new regulatory structure. The trade association also replied to EIOPA on infrastructure investments, and launched an online tool on its website to highlight innovation in products and services across Europe. EIOPA released its fourth annual Consumer Trends Report, and its chairman was re-appointed for a further five years. Solvency II predictions were also offered by EY and Accountagility.
Swiss Re, in a sigma report, estimated the economic and insured losses from man-made and natural catastrophe incidents during 2015, which saw another quieter year for (re)insurers, but a doubling of the death toll. Fitch revised its outlook on the French non-life market from stable to negative, and Standard Life Investments surveyed the longer-term impact of the low-return environment on European insurers.
The Geneva Association and the International Insurance Society(IIS) announced the winners of the Shin Research Excellence Award, the Chartered Insurance Institute(CII) welcomed the UK government review of financial advice and put forward a proposed model, and the Lloyd's Market Association(LMA) reported that its Academy was set to celebrate its biggest-ever year.
Aviva announced the launch of its Digital Garage in Singapore, Swiss Re looked at life insurance in the digital age, and EY and SAS formed a strategic alliance over the latter's Advanced Analytics Platform. IBM opened its global headquarters for Watson Internet of Things in Munich amongst other related announcements, and the London Management Group(LMG) appealed for secondments to support research, development, and delivery of growth initiatives.
Charles Taylor Insurance Services appointed a new ceo.
Standard & Poor's lowered the ratings of Delta Lloyd and PZU, whilst Zurich reported its intention to buy a major US agricultural insurance provider from Wells Fargo-a surprise move after not proceeding with the RSA takeover because of losses, and its top management issues.
AIG undertook a further share repurchase, and Ergo is to increase its interest in its Indian jv-continuing the trend since foreign insurers were allowed to own up to 49% in such insurers. Aspen Re renewed Silverton Re for 2016, Continental Re outlined its growth across Africa, and Lloyd's is to publish an Insurance-based Index. Nexus moved for MGA Millstream Underwriting, PartnerRe is opening in Dubai, and R & Q completed its first transaction in Vermont.
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