Of Special Interest


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12th October 2014

Newslink Trends: Weekly Global Insurance Analysis

This week, the Solvency II Delegated Acts were adopted by the European Commission and Insurance Europe was quick to respond-expect increased Solvency II media coverage as the deadline for implementation looms.
Towers Watson and Confused.com, in their regular review of UK motor insurance premiums, indicated an increase in certain sectors after a long period of reductions, whilst the CBI/PwC quarterly UK financial services report said that life insurers were increasing their IT spend, but general insurers were cutting back. MarketScout reported that the increases in US commercial lines rates were continuing to slow. Xuber published a comprehensive survey of Bermudian insurance executives with analytics and IT highlighted-the insurance software specialist recently held an event in Hamilton to launch its offering for the market. Standard & Poor's reported that French insurers' capital adequacy was likely to dip.
Pegasystems introduced its Commercial Lines Underwriting Workstation, and Wolters Kluwer Financial Services launched NILS INsource Case Law Module in the US. A life insurance products web aggregator is expected to open in Singapore early next year, aimed at reducing distribution costs across the market. and a new report from Strategy Meets Action(SMA) highlighted that US p & c insurers intend to recruit more analytics specialists. Barnett & Waddington is to partner with Solvency II Solutions, and also warned that potential increased compensation through the FSCS could result in higher levies on UK insurers. Cover-All received an accolade in a US analyst's review, and SSP is to introduce a new single user experience platform for its insurer solution.
LeapFrog Investments sold its minor stake in Apollo Investments to Swiss Re-Apollo has insurance involvement across East Africa. Old Mutual proceeded with its minority IPO in the US but at a lower share price than expected, and Markel acquired a German travel insurance specialist. Brokerslink announced further expansion and its move from being a not-for-profit association, Hub International acquired in the US, and TransRe increased its involvement in China. Willis finalised the acquisition of 75% of Sweden-based Max Matthiessen.
RSA appointed a managing director of MORE TH>N, and a Group chief risk officer. Zurich announced a head of UK General Insurance, and XL Group's reinsurance chief executive is to retire. CGSC named ex-AIG ceo Martin Sullivan as non-executive chairman, and Willis revealed a new Guernsey managing director.
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