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17th August 2014

Newslink Opinion: Weekly Insurance Global Analysis
Opinion

This week, reporting of interim and second quarter financials continued-amongst those announcing were AEGON, Partnership(lower annuity sales but confident) Prudential((strong figures overall despite some challenges), Prudential Financial, Brit, Enstar, Navigators, Talanx, and Admiral(premiums down but profit up).
Standard & Poor's looked at the risk profile of hedge fund reinsurers and issued an article on the global reinsurance market as a prelude to its more detailed analysis due to be released to co-incide with the Monte Carlo Rendezvous next month. Zurich issued a survey revealing that 20% of Brits admitted to lying to their insurer, and J.D.Power said that SME businesses in the US received better service from predominantly personal lines insurers compared with specialist commercial carriers. An Axco report indicated that the life and health market in Cyprus was still suffering following banking problems.
The Bill proposing allowing an increase in foreign investment into Indian insurers was delayed yet again until the end of the year as it was referred to a Special Committee for further review. A third consultancy paper on the Transposition of Solvency II was published by the UK's Prudential Regulatory Authority(PRA).
Aon Risk Solutions acquired in Peru, and Gallagher bought in the Caribbean and US. Legal & General reported that it was to leave the Association of British Insurers(ABI) and China Re is to proceed with its long awaited IPO in the first half of next year.
Catlin appointed its US underwriting hub chief to head up its London hub, and Aviva announced the appointment of a Global Analytics director from Progressive.
4Sight Business Intelligence reported that its p&c solution had been chosen by a Texas insurer, Guidewire broke into the Argentina market, and another captive signed up for Eurobase's synergy2 software. There were senior appointments at ACORD, RDT, and The Floow. Guy Carpenter issued a new release of its risk and capital management-decision tool, and Swinton upgraded to SSP's Select Broker offering.
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