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11th September 2022

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, Lloyd’s reported strong underwriting result in its 2022 Half Year results. The Swiss Re Institute published its latest sigma study "Maintaining resilience: the role of P&C insurers in a new world order". S&P Global Ratings commented in a new report "The global reinsurance sector could finally be facing a turnaround, with pricing improvements persisting for most lines while property catastrophe lines are experiencing a full-on hard market environment." Moody's said that the Reinsurance sector is to benefit from rising prices and strong investment income, and Gallagher Re highlighted global reinsurance capital down, profits and solvency up at H1 2022. The Malaysian insurance industry is estimated to reach $26.7bn in 2026 according to GlobalData.
The Global Federation of Insurance Associations(GFIA) published principles on effective supervision of insurers’ operational resilience, and also welcomed the OECD/G20 BEPS Progress Report on Amount A of Pillar One, but called for refinements. A revised schedule of the IPCC Synthesis Report was announced. The Personal Finance Society(PFS) recognised the Society of Later Life Advisers(SOLLA) Later Life Adviser Accreditation as counting towards achieving Fellowship membership status.
Moody's launched a new ESG insurance underwriting solution for P&C insurers, whilst McKenzie Intelligence Services(MIS) and Markel International are partnering to accelerate incident and claims responses following major loss events. AEGIS selected Sapiens to automate and modernise its reinsurance processes, and InsurTech Yokahu was selected among 50 UK startups for a six-week AWS Fintech Accelerator programme. Davies strengthened its end-to-end claims administration, independent adjusting & catastrophe response capabilities in North America through the acquisition of Johns Eastern. AXIS launched an Wholesale Division, Carbon Underwriting progressed to a full Lloyd’s Syndicate, and MRH Trowe acquired Hamburg-based insurance and finance broker afm. Aspen reported half year financials. There were senior appointments at AXIS Capital, Brace Underwriting, PartnerRe, SiriusPoint; BMS and WTW.


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