Latest Insurance
- Newslink Global Insurance Trends-The Week
- Allianz to acquire automobile and other p&c operations from SulAmérica in Brazil
- FCA says Claims Management Companies must raise advertising standards
- GlobalData research highlights travel insurance purchase through a bank account is well established and is likely to grow
- GlobalData survey indicates high use of telematics by younger drivers but they still pay more than double the average premium
- MS Amlin commences trading risks on Whitespace
- ISMIE Mutual, a US specialized provider of medical professional liability insurance, selects Duck Creek Suite to replace core systems expired
- Sapiens ClaimsGo workers' comp solution selected by SI Medical expired
- Shift Technology joins Guidewire PartnerConnect as a Solution partner expired
- Geneva Association Ernst Meyer Prize granted to two participants expired
- HDI Global announces Betz appointment to Management Board to continue generation change policy expired
- China Life reports half year financials-improved return all round expired
11th August 2019
Newslink Global Insurance Trends-The Week
Trend
This week saw a continuation of second quarter and first half financial reporting, and a number of significant publications. Clyde & Co's Global Growth Report indicated mergers and acquisitions(M&A) in the global insurance industry rose in the first half of 2019 with 222 completed deals worldwide, up from 196 in the second half of 2018. Willis Re Securities reported that the Insurance-Linked Securities(ILS) market declined in the second quarter compared with 2017 and 2018, and Marsh released its Global Insurance Market Index for the second quarter highlighting that average commercial insurance pricing increased nearly 6%. S&P Global reviewed reinsurance market trends and also published a report headed "Global Reinsurers Face The Iceberg Threat Of Cyberrisk". The insurance industry’s anti-coal stance will deliver long-term benefits despite potential short-term losses, according to Global Data.
Avantia, the technology-enabled insurer behind HomeProtect, announced a major update to its retail pricing model using machine learning, and Greenlight Re made a strategic investment in Handdii, a Melbourne-based property insurance claims fulfilment platform. Mphasis signed a multi-year deal with The Ardonagh Group, and Willis Towers Watson released an updated version of its Radar pricing software. Guidewire Software announced the appointment of Mike Rosenbaum, former evp Product at Salesforce, as ceo-joint founder and ceo Marcus Ryu became chairman. Majesco announced solid fiscal 2020 first quarter results.
Swiss Re's ReAssure Group is to acquire Quilter's(Old Mutual) UK closed life and pensions insurance book, and run-off specialist DARAG continued its acquisition trail in Germany signing a Portfolio Transfer Agreement with SOVAG. Latest financials included those from Ageas("best ever first half result"), AIG(“Our strong second quarter performance demonstrated continued positive momentum throughout the first half of 2019"), Aviva(strong general insurance result-reviewing options for Asia Pac busines), CNA Financial, Legal & General, Liberty Mutual(second quarter impacted by Typhoon Jedi and liability lines), LV=, Manulife, Phoenix Group(operating profit and cash generation up), The Hartford, and Zurich("we are set to exceed all our targets and the strategy is proving successful"-impressive half year across the board); Argo International, Enstar(big increase in consolidated net earnings), Greenlight Capital Re(into the black), Hannover Re(half year profit up 19%-gross premiums increased by 14.5%), and Munich Re(on track with highest quarter result for four years).
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com
