Of Special Interest


[x] [x]

30th July 2023

Newslink Global Insurance Trends-Editor's Weekly Highlights

This week, Munich Re reviewed first half global catastrophe losses-key points were:-Overall losses of $110bn, above the 10-year average-insured losses according to provisional estimates amount to $43bn, also much higher than the 10-year average-devastating earthquake in Turkey and Syria responsible for highest overall losses-series of extreme thunderstorms, including tornadoes and hail, in the US account for roughly one third of overall global losses. WTW launched Climate Vista to bridge climate skills gap in the boardroom. El Niño could have a significant impact on renewable energy production according to a new WTW Natural Catastrophe Review. GlobalData said that insurers need to keep targets to combat climate change, and also estimated growth in the Malaysian Motor insurance market and the prospects for the Taiwanese life sector.
The Financial Conduct Authority(FCA), the Prudential Regulation Authority(PRA) and the Bank of England have finalised a revised scheme for those who have complaints about the regulators, following a consultation-the revised scheme provides clarity around what people can expect when they complain, making it more transparent and user-friendly. The UK Government's proposed Solvency II reforms have the potential to unlock investment by the insurance industry into the UK economy according to analysis by PwC UK.
Allianz Global Corporate & Specialty(AGCS) together with the commercial insurance business of local Allianz Property & Casualty(P&C) entities began to trade as “Allianz Commercial". Aviva purchased Barclays UK Home insurance portfolio. Korean Re enhanced its Risk Analysis with Moody’s RMS Risk Models across Europe and Asia, and Polo Managing Agency Limited(PMA) announced its approval for Wildfire Defense Syndicate 1996 to commence underwriting. Financial reports included those from Beazley, Chubb, and The Hartford; Arch Capital, Conduit Re, RenaissanceRe, SCOR; Brown and Brown, and WTW. There were senior appointments at IPCC and Marsh.



Increasingly, financial services companies and their
regulators are taking a global view as instant
communications make the world a smaller place and are
accelerating the maturity of developing countries.
Insurance Newslink 30 years ago predicted this trend and
over that period of time has uniquely brought together
strategic intelligence from source across all
insurance/reinsurance markets and related IT/InsurTech
trends into an internet-based Research Matrix database
self-service and reporting facility. As technology and
analytics progresses, with such advances as machine
learning, artificial intelligence, and dispersed
digitisation uplift following the COVID-19 pandemic, the
service will play an increasingly important role in adding
value to internal company analytics in a global market
Today, Insurance Newslink has over 56,000 expertly
selected articles from source indexed across a Matrix of
date, continent /country, company, regulatory, company,
research/publications, and IT applications by business
function. Our Banking Newslink Global Trends service
commencing in 2000 has over 36,000 articles, and Financial
Newslink combines both services at www.onlystrategic.com
Insurers, reinsurers and banks need to know about each
other’s positioning and IT suppliers of all types and
sizes need to understand the key business and regulatory
issues and opportunities. The surge of InsurTech, FinTech
and digitisation initiatives have emerged from all over
the globe-only a few years ago, the Chinese were finding
out about progress in the US and Europe and could well now
be ahead of the field. Speedier change is impacting the
mind-set of the customer/consumer.
The service acts as a strategic catalyst enabling quicker,
better decisions across market players and suppliers
bringing global market,IT, and regulatory trends together,
adding value for student through to CEO.
Our content is read broadly equally across The Americas,
Europe, and Asia Pacific by all ranges of management and
we are increasing the number of distribution partners. Our
service is available from a single user to a corporate
For the past 40 years, we have worked with over 100 market
players and major technology suppliers-go to our
consultancy site-Shillito Market Intelligence Ltd at
www.shillito.org.uk for more background and a list of some
of our clients. For the last 30 years, our Newslink Global
Trends Research Database has been proven as the core
content for our numerous white papers, university business
school lecturing, training, speaking, and chairing events