...citing the likely absence of El Niño as a primary factor. According to a new report by Marsh, pandemic-induced economic stress will continue to exacerbate global political risk throughout 2021 and amplify the threats facing already-fragile economies. Climate change and the resulting energy transition continues to transform the energy industry risk landscape, and remains the dominant issue facing the sector, according to Willis Towers Watson at the launch of its annual Energy Market Review. By Bits research suggested that the UK motor insurance industry expects pay-by-mile pricing to be standard within four years.
The Global Federation of Insurance Associations(GFIA) published its response to a consultation conducted by the Canadian Office of the Superintendent of Financial Institutions(OSFI) on its draft revised guideline on large property and casualty exposures and investment concentrations. EIOPA published the results from its yearly study on the modelling of market and credit risk, and also
launched its online Insurance Distribution Directive(IDD) Single Rulebook. Research from the Association of British Insurers ABI) indicated that three in five(60%) SMEs acknowledge that providing health and wellbeing benefits has a high impact on supporting the productivity of their company.
Majesco added new capabilities to its Distribution Management Platform, Sapiens announced the availability of its enriched DigitalSuite, and German pension & life insurance market leader xbAV re-branded as Xempus.
Zurich and Farmers Exchanges completed the acquisition of MetLife p&c business in the US. Ardonagh and Amynta Group announced a joint venture to acquire US-based AccuRisk Solutions, and MS Amlin acquired US-based International Transportation Marine Office. Aviva completed the £26m bulk purchase annuity buy-in transaction with the Trustees of the ABI Pension & Assurance Scheme, whilst AXA made a successful placement of its first subordinated green bonds. There were senior appointments at Airmic, AXA XL, and Hiscox.
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