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23rd December 2012

The Global Insurance Week
Opinion

This week, EIOPA published Opinion on Solvency II interim measures, and is to assess the impact of the Long Term Guarantees package. The Geneva Association responded to the IAIS on GIIs, and the ECJ Gender Drective came into force.
Ernst & Young reviewed priorities for US p&c insurers in 2013, whilst Swiss Re estimated global catastrophes this year.
The IUA set out its priorities for next year.
AEGON signed a bancassurance deal with Santander in Spain, AIG sold its remaining interest in AIA group, and Allianz was fined by the US SEC for making improper payments in Indonesia.
Aviva reached an agreement over its joint venture share with Bankia in Spain and is to sell its US life book to Athene Holding-suitor Guggenheim Partners decided instead to buy some of Sun Life Financial's US annuity and life business. Major US brokers AmWINS and Integro both made major acquisitions, and Gallagher bought again in the US. Generali is to restructure its Italian business, and Markel will be the senior partner in a merger with Alterra Capital. PartnerRe moved for Presido Reinsurance Group, PICC raised a further $465m, and RSA sold its Dutch Caribbean book.
There were upgrades from Accenture of its p&c solution and Conning's enterprise risk management offerings. Guidewire outlined its European growth, and StoneRiver signed up GPM Life and annnounced a partnership with SCOR to speed up life underwriting. Moody's Analytics is to work with Norwegian insurer Gjensidige on Solvency II, Quindell Portfolio continued its growth and received SRA approval for its Legal Services arm, and Xchanging's Xuber announced a major update of its Brokasure Enterprise software.
There were more estimated losses from Sandy.