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20th July 2014

Newslink Opinion: Weekly Insurance Global Analysis

This week, some significant reports were published. FC Business Intelligence surveyed European insurers and reinsurers to ascertain the progress of analytics, and Milliman reported on the embedded value of major insurers across the same Continent. A SAP survey highlighted factors motivating US insurers to undertake innovative strategies, and Conning looked at the increasing use of social media and mobile technology amongst US life insurers.
The UK Financial Conduct Authority(FCA) reported that some price comparison sites were not meeting customer expectations, and a Bill was introduced to modernise commercial insurance policy wordings with benefits for both business clients and insurers.
Generali is to sell its BSI private bank in Switzerland, Liberty Mutual signed a retroactive reinsurance agreement with Berkshire Hathaway's National Indemnity, and Zurich is to double its investment in green bonds. Starr Companies completed its majority share purchase of a Shanghai-based insurer, Ironshore opened in Hong Kong, and JLT finalised its latest Market Re cat bond.
American Modern went live with Guidewire's ClaimCentre, West Bend Mutual chose Sapiens' Reinsurance software, and American National selected Wolters Kluwer's ARC Logics solution.
Platinum Underwriters started off the second quarter results announcements, and Quindell published preliminary figures and a strong trading update which had a positive effect on the share price.
There were senior appointments at Ecclesiastical, Everest Re, Flood Re and London-based insurance software specialist Sequel.
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