Of Special Interest


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21st February 2016

Newslink Global Insurance Trends

This week, Marsh published its annual EMEA Insurance Market Report 2016, Middle East Global Advisors(MEGA) highlighted key points from the Finance Forward Middle East Insurance Outlook Report, and Direct Line research indicated that 28% of UK drivers over 65 did not disclose serious medical conditions to the DVLA. Efma and Accenture launched the Innovation in Insurance program to identify the most innovative insurance initiatives and projects globally.
The Prudential Regulatory Authority(PRA) published updated Solvency II internal model reporting codes and components, and EIOPA released its Work Program for 2016.
Xuber, Xchanging's insurance software business, released a white paper from a roundtable discussion on the London Market's Target Operating Model(TOM) as the TOM Steering Board named key initiatives for 2016. Aon Benfield launched its US severe thunderstorm scenario model. Guidewire extended its alliance with Smart Communications, a Thunderhead subsidiary, and Sapiens reported a strong 2015 result. SSP's Keychoice extended its relationship with Ageas with enhanced data capabilities, and Legal&General formed a partnership with ITM for the SME auto-enrolment market. Aviva reported that it had detected policy fraud in almost 2,200 commercial motor policies last year.
Financials reported included Allianz(operating profit up after strong fourth quarter), Arig(investment income down and Takaful Re to cease underwriting), CNP(net profit improved). IAG(lower net profit at half time), and Standard Life(better across the business and global expansion continued).
Brit increased its capacity in Ambridge, Compre finalised the acquisition of Gjenisidige's marine and energy portfolio run-off, and Enstar is to reinsure portfolios of Allianz Re's US run-off business. PartnerRe announced the cash payment to preference shareholders from the merger with EXOR. Lancashire reported reduced GWP and lower net income for 2015, and Tokio Marine Kiln's ceo expressed satisfaction with results and forecasts. There were appointments at Advent, ArgoGlobal, and Pool Re, whilst Sandy Weill is to step down as chairman at Hamilton Insurance Holdings, with ceo Brian Duperreault holding both positions in future.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com featuring advanced structured search and report facilities and a free 14 day full trial.