Of Special Interest


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20th April 2014

Weekly Insurance Global Analysis

This week, SNL Financial reviewed the performance of European insurers, whilst Standard & Poor's said that global multiline insurers were weathering the low interest environment with resilience. Willis commented on the future for mutuals. A PwC UK consumer survey indicated a potential 75% drop in the annuity market, and Towers Watson reviewed the future for with-profits funds.
SSP surveyed UK consumers' propensity to share personal information and J.D. Power is to collaborate with RIMS to assess US large commercial business clients' satisfaction with named brokers and insurers-a significant benchmarking exercise. Document management specialists EDM reported that UK insurers are struggling with managing and accessing critical business information.
Aviva is the sell its South Korean life jv stake and restructure its Italian jv life interests, whilst RSA commenced its disposal strategy by agreeing to sell its Baltic States and Polish businesses to leading Polish insurer PZU. Aspen spurned an offer from Endurance and introduced a rights entitlement for existing shareholders in the event of a future takeover bid-Endurance still intend to press on. USI acquired in Arizona, and KPMG predicted that the relaxed M & A regulatory changes in China would result in market consolidation.
In the US, IBM signed a major six-year contract with The Hartford with Cloud processing a major component, five more modelling companies are to partner with the RMS(one) ecosystem platform, Southern Trust went live with Accenture Duck Creek's Policy and Billing solutions, and Progressive chose the Boot Platform to enhance customer communications. A new(re)insurance consultancy, CMC Insurance, was formally launched in London is assist with regulatory change, MetLife Alico Japan won a Model Insurer award using Sungard's actuarial modelling solution, and telematics specialist The Floow appointed a head of Italian operations-a leading European country utilising the technology. Xchanging moved into a new London office, and Quindell released positive trading figures for the first quarter. Analysts Celent predicted a rise in insurance IT spend in a global survey.
Lancashire's ceo announced he is to retire and RSA made two senior appointments, and will be saying farewell to UK and European chief Adrian Brown, will will be leaving after 25 years with the company to take up a senior appointment with acquisitive broker AJ Gallagher.
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