Of Special Interest


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26th April 2015

Newslink Trends: Global Insurance Analysis

This week, Willis made a firm offer to acquire the 70% of French broker Gras Savoye it does not already own, and introduced a suite of analytical tools at the RIMS Annual Conference. Munich Re indicated bullishness at its AGM highlighting its interest in potential Asian growth, and QBE changed the way its European business will operate along with new appointments. Aspen and Starr Companies announced a joint underwriting initiative, and PSP Investments took a strategic stake in AmWINS.
Fitch reviewed the impact of the continuing low interest scenario on guaranteed life business-particularly in Germany, whilst Standard & Poor's projected that increasing natural catastrophes could influence corporate credit ratings.
The Global Federation of Insurance Associations(GFIA) lobbied the G-20 to prevent or remove regulatory barriers to insurers' long term investments, and the International Underwriting Association(IUA) welcomed the EU move to open discussions with the US over reinsurance trading conditions and to streamline supervision procedures. The IUA also announced it is to launch a new statistical survey on how its members service international business. Gibraltar revealed that its first ILS transaction had been completed.
Swiss Re Corporate Solutions and IBM Security are to partner regarding cyber risks, and AIG bought a stake in a cyber specialist. Zurich Switzerland selected Guidewire ClaimCenter solution-the insurer in the US is to extend the use of Insurity's Policy Decisions system. Majesco announced it had signed up four more North American insurers, and Sapiens is to distribute a dividend of $7.2m.
ANV Holdings' founder and ceo Matthew Fairfield surpisingly stepped down, and Skuld appointed a head of its Singapore office.
Early first quarter results trickled through. A common factor across ACE, Allied World, Chubb and Travelers was a reduction in net income, but generally optimism for future growth. Aspen continued to execute its strategic growth plan and announced management changes. Brokers Brown & Brown and Gallagher announced good growth.
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