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7th June 2015

NewslinkTrends: Global Insurance Analysis

This week, EIOPA published its latest Stability Report, and the Financial Conduct Authority(FCA), after a thematic review, reported general insurance Delegated Authorities handling could be improved-and also announced senior appointments. Belgium joined the IAIS MMoU, in what is becoming almost a weekly addition to the participants.
The saga of Partner Re, Axis Capital and EXOR continued but with the Supreme Court of Bermuda ruling against EXOR's lawsuit regarding disclosure of non-public information relating to PartnerRe's shareholder base, it does look as if the merger between PartnerRe and Axis Capital will finally proceed. Hannover Re were involved in the largest cat bond issue so far this year, and CPPIB is to purchase around 10% of Enstar. Gallagher and Marsh Agency acquired in the US, whilst in the UK, Marsh moved for online broker SMEi, and Willis completed its investment in Miller Insurance Services. Charles Taylor opened a satellite office in Montreal, and Mapfre Asistencia won an award, as did deVere Group, whilst the innovative Insurance Investment Exchange was short-listed for the "Insurance Event of the Year" in the upcoming inaugural Marketing and PR Awards in the UK.
Xuber published the second chapter of its Global Reinsurance Survey, focusing on regulation and M & As, whilst Timetric reviewed developments in the microinsurance market. PegaSystems and Capgemini revealed further findings from its sponsored research on UK Millennials, stressing their willingness to reveal more personal information in order to get the best insurance deal-Conning looked at consumer behavioural changes in the US personal lines market. Swiss Re highlighted the disability and critical illness insurance gap in the European markets, and Standard & Poor's reported on the Austrian P & C and Life sectors. An SSP white paper emphasized the wealth of data available to provide insight into individual and business insurance risks.
Guidewire published third quarter results and announced that an existing New Zealand insurer client had signed up for its ClaimCenter solution. BMS Intermediaries announced an enhancement to its iVision catastrophe risk management system, PCS and the Istambul Underwriting Center(IUC) launched a catastrophe loss aggregation service in Turkey, and Hong Kong-based Peak Re is to partner with Shanghai Typhoon Institute(STI) on research projects.
Talk to TIM, an online and telephone-based travel insurance comparison service, was announced in the UK, Slipcase, the London-based online news service for the global commercial (re)insurance sector, secured software development investment of around £1m.
There were management and director appointments at Ascot Underwriting, Aspen, the international Division of Gallagher, and Pool Re.
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