Of Special Interest


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22nd September 2013

The Global Insurance Week

This week was the most active in terms of news releases since the summer holidays. On the mergers and acquisitions front, JLT is to acquire Towers Watson reinsurance brokers, and Catalina moved for Alea(Bermuda)'s run-off book. Gallagher increased its UK presence with the purchase of Belmont International, and de Vere Group bought in Thailand.
IRB-Brasil Re has had the regulatory nod to privatise, Prudential is to domesticate its Hong Kong unit, the last of its AsiaPac books to do so, and ACE is opening a reinsurance office in Tunisia. ANV and Jubilee are to merge their Lloyd's managing agencies, and SCOR and PartnerRe published claims estimates from the recent German hailstorms.
The Management General Agents' Association(MGAA) reported a 40% increase in participants at its 2nd annual Capacity Exchange meeting at Lloyd's.
Cover-All is to restructure, Guidewire modules went live in Australia, Sequel introduced a risk exposure product, and Quindell upped its interest in telematics specialist ingenie to enable expansion in the UK and a move into the Canadian motor market. R.K. Harrison is live with Total Objects' integrated software solution and BinderCloud managed service, Zurich is migrating to Sungard's iWorks Prophet Managed Hosting Service, and Milliman released the latest version of its p&c loss reserving software. Capita acquired Optima Legal Services.
On the reports front, PwC reviewed the prospects for M&A's, and A.M. Best looked at the challenges facing the German market. S&P examined the global multiline insurer market, Swiss Re surveyed the most vunerable cities globally to potentially suffer from catastrophes, and Fitch examined captive domicile trends, and US life company investments in 2012.
Skuld reported half year results.