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16th February 2014

Weekly Insurance Global Analysis

This week, A.M.Best reported an underwriting profit for US p&c insurers in 2013, a new study by Conning took an optimistic view of US and global markets, and Swiss Re highlighted the low penetration of life insurance in Latin America.
In the UK, Prudential described how the attitude to retirement was changing in the UK, regulator FCA is to undertake a competition review of the annuity sector, and a Matrix Solutions survey showed that IFAs were more confident of the economy following the Retail Distribution Review(RDR). The FCA also issued its largest ever retail fine to HomeServe.
CNA Financial is to sell its group annuity unit to Wilton Re, Howden Broking Group acquired two Columbian brokers, and Qatar Insurance Company(QIC) moved for the Antares Managing Agency at Lloyd's.
Guidewire had a busy week, with wins in Canada and the US and the signing of a new affiliate member of Guidewire PartnerConnect. Innovation Group launched Quick-Est to enable claimants to capture vehicle damage to upload to their insurer, Sapiens was chosen by another preneed insurer in the US, and TIA recived a European accolade from analysts Celent. ISO published a white paper providing positive advice to claimant solicitors post-Jackson Reforms in the UK.
The results season was in full swing-those reporting included AIG, Arig, Catlin. HCC, ING, Lancashire, MAPFRE, Sampo, Tower Group International, Zurich, Marsh & McLennan, and Willis.
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