Of Special Interest


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27th August 2023

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, our Editor's Highlights on Wednesday featured extracts from articles relating to Artificial Intelligence(AI) during the last three months. Insured losses from wildfires have doubled over the past 30 years and insurers face highest natural-catastrophe losses since 2011 according to a new insurance sector report from Bloomberg Intelligence. Fitch Ratings reported that there was a strong yoy recovery in profitability in 1H23 for the four main European reinsurers. Moody’s RMS commented on the impact of Hilary, the first tropical storm to hit California since 1939, and estimated $4bn to 6bn in Economic Losses from Hawaii wildfires. PERILS released its second industry loss estimate for the floods in the Emilia-Romagna region of Italy in May 2023. A Geneva Association report looked at decentralised finance and blockchain technology in insurance. GlobalData reported that the Top 20 APAC insurers maintained momentum with 8.2% average premium growth amid COVID-19 impact in 2022, and also in separate releases said that the Indonesian property insurance industry is to surpass $2bn by 2027, and that the Taiwanese general insurance industry is to rise to over $11bn by 2027.
Nordea Liv Norway selected Lumera for its next-generation life and pensions insurance administration platform. Marsh announced that it has reached agreement to acquire 100% of the outstanding share capital of Honan Insurance Group Pty Ltd(Honan), a leading specialist insurance broker in the areas of corporate risk, employee benefits, and strata and real estate insurance-Honan operates across Australia, New Zealand, and Asia from its Melbourne headquarters. Latest financials included those from HDI Global; Aspen, and Fidelis.



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