Of Special Interest


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14th July 2013

The Global Insurance Week

This week, the chief executive of the UK Financial Conduct Authority said in a speech at the ABI Biennial Conference that the FCA would be different from its predecessor, the FSA, and also outlined its investigation into general insurance add-on products.
The latest Banana Skins global survey indicated that regulation topped the list of issues for insurers, and Munich Re said flood claims dominated catastrophe losses in the first half of the year.
Enstar moved for Torus, Generali is to buy out the remaining minority shareholders in Generali Deutschland, and Guy Carpenter acquired a specialist disability reinsurance company in the US. Tower Group entered the marine and energy sectors through a deal with ANV's US unit, and Zurich is reducing its holding in New China Life. Lloyd's Market Association(LMA) published three new binding authority model agreements, whilst Ping An bought the Lloyd's building, fanning further speculation that Lloyd's might move when the option comes up in a few years time. BNP Paribas Cardif is to take over ING's share in a Chinese life joint venture.
Hiscox signed a multi-year partnership with Open GI's associate company Mi, and also introduced Global Insight, a new web app. iPartners is to collaborate with Spatial Key, and Transactor had a good year. Brit chose Xchanging's Fees Direct+ solution and Xuber stated that it had grown staff numbers by 25% since its re-brand last October, and continues to expand. SSP appointed a Marketing director.
Advent has a new ceo, and ex AIG chief Martin Sullivan was appointed a non-executive director at Antares. Jubilee's ceo is to step down.