Of Special Interest


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21st May 2023

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, a new insurance sector report from Bloomberg Intelligence(BI) warned that insurers seem poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year's North Atlantic hurricane season approaches, with pricing and risk appetite appearing badly aligned. After suffering from ultra-low interest rates over the past decade, German life insurers now face new challenges, S&P Global Ratings said in its "Rising Interest Rates Are A Double-Edged Sword For German Life Insurers," report, published on RatingsDirect. GlobalData estimated that the Malaysian life insurance industry could surpass $15.9bn by 2027. AI and automated ships pose new challenges in casualty liability, according to the chairman of the Association of Average Adjusters.
London Market technology specialist Ebix Europe confirmed that its successful seven years as the architect and provider of the original London Market electronic placement platform PPL will end on 31st December 2023-it will continue its focus on the independent growth and innovation of the new and improved electronic placing solution PlacingHub. Nirvana, the Media, Tech and Cyber-focussed managing general agent(MGA), announced it had selected Insureflow, an insurance software solutions provider, to help drive efficiencies and grow the business. wefox, the Berlin-based InsurTech, secured a $55m credit facility from J.P. Morgan and Barclays alongside a $55m second close in its Series D at $4.5bn valuation from existing investors and new investors including Squarepoint. US-based Atain selected Sapiens to automate and modernise its Specialty Lines core processes. WTW announced the release of its new IFRS 17-based reporting solution, Financial Results Analyser(FRA).
Acrisure expanded its Global footprint to Portugal with the acquisition of Universalis. SiriusPoint acknowledged the decision by Daniel Loeb and certain affiliates to conclude discussions regarding a potential transaction to acquire the company, and reiterated unanimous support for the company's strategy. Financial Reports included those from Co-operators, IGI, and Zurich; Beazley, Convex, Munich Re, SCOR, and Skuld.


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