- Insurance providers are at the bottom of the list for contacting their customers about the coronavirus pandemic says Consumer Intelligence
- Reinsurers take a measured approach to April renewals says Willis Re
- CII supports the FCA stating how managers should identify who is able to work from home
- COVID-19 and low oil prices could weaken the credit quality of some insurers in the Gulf Cooperation Council (GCC) says S&P Global Ratings
- Juniper Research study indicates number of IoT(Internet of Things) connections will reach 83 billion by 2024, rising from 35 billion connections in 2020
- esure founder Sir Peter Wood to step down as Chairman-to be succeeded by Andy Haste
- Guidewire positive on increased cyber threats expired
- ICISA members call for a coordinated approach to support schemes across the European Union to meet the demands of COVID-19 pandemic expired
- Catalina completes acquisition of Singapore-based Asia Capital Reinsurance Group (ACR) expired
- SCOR/Channel appoints Coulson as senior underwriter on the political and credit risks team expired
- Willis Re appoints Rumball as Head of Speciality–North America expired
- Xenia completes acquisition of the trade credit business of Howden UK Group expired
16th February 2020
Newslink Global Insurance Trends-Editor's Weekly Overview
This week, Marsh reported that global average commercial insurance prices increased 11% in the fourth quarter. S&P Global commented on UK personal lines loyalty penalty issues, and also published a report on Gulf Cooperation Council(GCC) insurers' trends. RMS estimated that insured property losses from Windstorm Ciara will be between E1.1bn and E1.8bn, with around 50% in Germany. GlobalData findings indicated an 80% satisfaction rate after making a home insurance claim in the UK-only 4.5% were dissatisfied. Mactavish highlighted a significant increase in UK commercial property insurance policies removing all elements of cover that relate to technology such as data loss or IT meltdowns. The London Market Group launched three short videos to help promote the London Market to insurance brokers in the US, and the Lloyd's Market Association(LMA) outlined its objectives for 2020.
Insurance Europe reacted to the European Commission’s roadmap on the EU’s Climate Law, and EIOPA said guidelines on outsourcing to cloud service providers are now available for national supervisory authorities. The Chartered Insurance Institute(CII) New Generation Group said insurance professionals need to change the focus of conversations with SMEs from price to value.
London Market PPL usage figures for the last quarter showed an encouraging increase. Cytora joined Duck Creek Technologies Partner Ecosystem programme, and Sedgwick reported it was in a strategic partnership with Concirrus to introduce predictive analytics to UK fleet claims. Trust Re is to partner with Bahrain FinTech Bay.
Exor and Covea are in advanced talks over the sale of PartnerRe. Fidelis raised around $300m of equity capital, with Abu Dhabi Investment Authority(ADIA) becoming a new investor, and SCOR acquired control of AgroBrasil. UNIQA is to acquire AXA portfolios in Poland, Czech Republic and Slovakia. Amongst companies reporting financials were Admiral, AIG, Arch Capital, Fairfax Financial, and Zurich. There were senior appointments at Coverys, Swiss Re Corporate Solutions, Tokio Marine Kiln(TMK), and leading cultural transformation experts joined Lloyd’s Culture Advisory Group.
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
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