Of Special Interest


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13th March 2022

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, S&P Global Rating Services said "For the many insurers headquartered outside Russia that have exposure to the country, their exposure is small enough and their capital strong enough for them to avoid a deterioration in credit quality." Rising inflation globally is forcing insurers to reallocate their capital into listed equities and real estate, according to new research from Clearwater Analytics(CWAN). The European Insurance Social Partners-of which Insurance Europe is a member—have published a joint declaration on diversity, inclusion and non-discrimination in the sector-the partners are committed to encouraging diversity, inclusion and non-discrimination in the workplace, and to promoting these values across the sector through various social dialogue structures at all levels. Global Data forecasted that the General insurance industry in Hong Kong would reach over $10bn in 2026.
FRISS acquired US-based Polonious Insurance Investigations. InsurTech MGA Loadsure announced that it closed its $11m Series A funding round-the company, which delivered the industry’s first transactional cargo insurance platform and automated claims process, said it will rapidly scale its organisation to accelerate the development of its proprietary smart technology, increase its reach, and better serve the global cargo and freight insurance market through a more efficient, effective distribution chain. Majesco and Earnix are partnering to bring sophisticated pricing, rating and personalised products to the P&C market, whilst Sapiens solutions were chosen by Builders Insurance Holdings-Sapiens also announced that it is to partner with Albany Group to provide compliance automation to the Lloyd's Market. RMS launched new Climate Change Models for the US and Japan. Xempus, the European SaaS platform to sell and manage pension & life insurance policies, raised $70m in primary equity funding on its mission to digitise pensions for insurers, agents, corporates, and employees-bringing the total funding to date to $125m.
Pool Re completed a successful ILS cat bond placement. SCOR Channel delivered on strategy with £14.1m profit for 2021 and now becomes the SCOR Syndicate. SiriusPoint announced a strategic partnership with Mosaic Insurance to reinvigorate its Lloyd’s business, and Brown & Brown entered into an agreement to acquire Global Risk Partners(GRP)'s insurance operation. Financial reports included those from Direct Line; Greenlight Capital Re, and Hannover Re. There were senior appointments at LIIBA, Sompo International, and WTW.

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