Of Special Interest


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9th February 2014

Weekly Insurance Global Analysis

This week, the flow of results speeded up with reinsurers, partcularly Bermuda-based, to the fore. Those reporting included Aspen, Axis Capital, Everest Re. Montpelier Re. PartnerRe, RenaissanceRe. Validus, White Mountains, XL Group, and Munich Re. Others reporting were Allstate, Beazley, Chubb, The Hartford, Intact Financial, and brokers Aon and Brown & Brown. The fourth quarter compared favourably with 2012 which included massive insured losses from Sandy.
PwC's annual survey of insurer ceos globally indicated growth optimism whilst recognising the challenges of regulatory changes and the advances in information technology. An Accenture global survey of insurance customers indicated the speed of change in online distribution channels and the degree of willingness of policyholders in different countries to use them. Fitch reviewed the South African and Ukraine markets.
EIOPA analysed the progress of gender legislation and the European Supervisory Authorities(including EIOPA) published their final report on the mechanistic references to credit ratings in guidelines. Insurance Europe called for IAIS BCR deveopments for G-SIIs to strike the right balance, and DIMA, in its twenty fifth year, appointed a new chairman.
Agencyport reported an increase in customer satisfaction, and Quindell provided a bullish trading update and indicated its intention to acquire a bigger stake in its telematic partners. Xchanging launched two new services for the the London Market, and Xuber announced a deal for its software suite in Australia.
Lysanda moved for Direct Line's TRACKING Network, and Hub and Marsh & McLennan Agency acquired in the US. Vienna Insurance Group bought a majority stake in a Moldovan insurer.
RSA appointed Stephen Hester as its new Group chief executive and the market approved, whilst Tower Group International made changes at the top after the immediate resignation of its chairman, ceo, and president, Michael H. Lee.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service today at www.onlystrategic.com