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11th September 2016

Newslink Global Insurance Trends

As the reinsurance market gathers at the annual Monte Carlo Rendezvous today, participants have been going into overdrive this week with many announcements. The Willis Re biannual Reinsurance Market Report reviewed global market size and trends, and the broker today launches its next generation of cyber risk portfolio modelling tool,PRISM-Re. Fitch warned on reinsurers' falling premiums and investment returns, and Standard & Poor's published comparative statistics for the top 40 reinsurers globally, and said it expects reinsurance prices to continue softer for longer in the absence of a very large loss. SCOR launched its "Vision in Action" new three year plan, and Swiss Re announced that it leads the Dow Jones Sustainability Indices(DJSI) for the third consecutive year. Cooper Gay named further senior appointments, and has rebranded as Ed to "redefine broking." Today, Vario Partners announced that Sompo Canopius chairman Michael Watson is to join them in a non-executive capacity.
Meanwhile, EIOPA seeks stakeholder input on Guidelines for the assessment of insurance-based investment products(IBIPS). UK pensions investments reached record levels in the second quarter, according to Equifax Touchstone. The Association of British Insurers(ABI) responded to the Government on driverless cars, and also backed the HeforShe insurance campaign for gender parity. The Dive In diversity and inclusion event is to go global. The Managing General Agents' Association(MGAA) has named Charles Manchester as its new chairman, taking over from James Gerry who has stood down to concentrate on commercial commitments. At the Lloyd's annual dinner, chairman John Nelson, in his swansong speech, spoke strong words about Brexit and passporting rights, as did new London Mayor Sadiq Khan.
Guidewire's ceo said that "revenue and profitability exceeded our guidance" for fiscal and fourth quarter 2016. RenaissanceRe has selected CATEX's PivotPoint, Delphi Technology and AAIS are to partner to offer state-of-the art product management capabilities to US p&c insurers, and Sapiens is re-architecturing its ALIS solution to offer true group, worksite, and individual coverage to life and annuities carriers. OAC announced its Cloud-based solution for the new Senior Insurance Managers Regime(SIMR). UK InsurTech investment is zooming says Accenture, and a ceo has been appointed for the recently established Allianz X InsurTech unit.
Allianz Global Corporate & Specialty(AGCS) is to partner with BAE Systems over cyber risk, BMS opened a new broking affinity operation in Melbourne, and BMS(US) acquired.
R & Q acquired the Aegon and Royal London UK general insurance closed books, and also reported stronger interim results, as did Skuld and Helvetia. There were senior appointments at Antares, Arig, DAS UK, Manulife, and PartnerRe.
Articles on the above topics are included in those added to the Insurance Newslink and Financial Newslink global trends database services last Wednesday and today at www.onlystrategic.com -featuring advanced structured search and report facilities and a free 14 day full trial.