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7th September 2014

Newslink Trends: Weekly Global Insurance Analysis

This week, reinsurance was in the spotlight as the Monte Carlo Rendezvous grew nearer. Standard & Poor's published two articles-on climate change, and reinsurers' appetite for catastrophe risk, and also reviewed the Saudi Arabian market. Fitch looked at the Latin American reinsurance scenario, Axco released a report on Bermuda, whilst A.M. Best examined the impact of the difficult trading environment in the London Market. Insurance Europe published a Key Facts booklet on investment returns and warned on future levels.
Standard Life surprised with the sale of its Canadian book to Manulife on favourable terms, MetLife disagreed with the preliminary SIFI designation, and Aviva is considering a minority share IPO for its Turkish life and pensions joint venture. Sompo Japan Nipponkoa emerged, and SCOR created a local entity in Brazil. APL Underwriting acquired the Folgate closed book from Towergate and is to consider writing new businesss, and Hub International acquired in Ontario.
There is to be a third party independent assessment of the Romanian insurance market, the Bank of England announced Board changes at the Prudential Regulation Authority(PRA), and the Association of British Insurers(ABI) expressed concern at rising capital requirements above future Solvency II levels.
SSP issued a white paper headed "Digitisation of the Customer Journey", LexisNexis' annual report on telematic trends highlighted growing consumer trust in the technology, and Quindell and the RAC restructured its telematics joint investment. Guidewire had a better than expected fourth quarter, and Ageas in the UK is working with SAS on customer analytics. CGSC selected Xuber's OPEN Core platform for its global MGA business, Barbican chose Charles Taylor Claims Service, and Touchstone Underwriting has brought its scheme management in-house after going live with Websure.
Accenture was named by Celent as Market Leader in North America for its Life Insurance Platform.
There were senior appointments at Argo, RFIB in Bermuda, Xchanging, and ISO. Peter D. Hancock took over as president and ceo at AIG.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global database service on Wednesday and today at www.onlystrategic.com