Of Special Interest


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14th September 2014

Newslink Trends: Weekly Global Insurance Analysis

This week, as attendees gather at Monte Carlo for the annual reinsurance Rendezvous, Fitch reviewed the impact of alternative risk transfer, Standard & Poor's said the future for reinsurers was to innovate and adapt, whilst A.M.Best and PwC issued their annual reports on the sector-PwC foresaw cost cutting and consolidation. Aon Benfield estimated that the first half of 2014 had produced record global reinsurance capital. Fitch also reported on US p & c loss reserves at the end of 2013.
The Association of British Insurers(ABI) revealed the expected drop in second quarter annuity sales following Budget changes.
Canopius and parent SJNK combined their Zurich-based European reinsurance operations, and the former opened an underwriting agency in New York, announcing new hires. Swiss Re was named insurance section leader in Dow Jones' Sustainability Indices.
Standard Life published a statement on its position if Scotland voted for Independence next Thursday.
CATEX was in the news with its Pivot Point solutions at RFIB and A&P Worldwide in London, and Holborn in the US. Xchanging formerly launched its accounting and settlement platform, Netsett, after a successful pilot with RSA, with further take-ups expected shortly, and Rewire launched in the US aiming to "take reinsurance and capital markets convergence to a new frontier". Guidewire announced that Admiral's French subsidiary has signed up for its InsuranceSuite and that Stonebridge Consulting Group had joined its PartnerConnect as an Affiliate member. Acturis acquired a leading German software house, and Majesco Mastek has expanded its relationship with US crop insurer ProAg. Quindell said it had received judgement in its libel action against Gotham City Research, and CMC Insurance announced a partnership with a Swiss specialist consultancy with the immediate target of assisting (re)insurers with Solvency II implementation.
Gable, LV+, and Skuld reported interim results.
Aviva named a new chairman as the successful John MacFarlane is to chair Barclays, and there were senior appointments at Catlin, Lloyds Banking Group Insurance, and Willis.
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