Newslink Global Insurance Trends
This week, Insurance Europe commented on the European Commission’s final delegated acts amending Solvency II delegated regulation, and separately, responded to EIOPA on sustainability in Pillar I...
Meanwhile, the Prudential Regulation Authority(PRA) published " PS9/19 Solvency II: Group own fund availability" a policy statement providing feedback on the responses to Consultation Paper (CP) 15/18. The Association of British Insurers(ABI) is supporting a move towards increased investment in greener assets, and the PRA and Financial Conduct Authority(FCA) reported on their hosting of the first meeting of the Climate Financial Risk Forum(CFRF), which contains several leading insurers.
Capgemini's new report says banks and insurers are lagging behind in the digital transformation challenge. Hannover Re announced the launch of hr|equarium-an innovation pool exclusive to Hannover Re's global network of insurance clients which facilitates connections with innovative InsurTech partners. The Chartered Insurance Institute(CII) and SAMI Consulting launched a new research project to explore how the digitisation of medical records can improve access to protection, and Shift Technology, supplier of AI solutions to the insurance industry, closed a C-round investment of $60m bringing total investment in the company to $100m. Willis Towers Watson's fast growing claims benchmarking service celebrated a milestone, reaching 45% of the UK motor market in four months. Aon established a strategic alliance with Zesty.ai, an InsurTech start-up based in the San Francisco Bay Area, whilst US insurer Donegal Insurance Group extended Guidewire solutions by selecting InsurancePlatform Core and Data products.
China Re announced the launch of a renewable energy consortium at Lloyd’s, Hamilton is to acquire Pembroke Managing Agency platform at Lloyd’s and Ironshore Europe DAC(IEDAC) from Liberty Mutual, and Pool Re published its fourth Terrorism Frequency Report. Swiss Re is proposing a higher dividend and a new public share buy-back programme. A ground-breaking MGA was launched with the aim of changing the face of how the insurance market can protect SMEs from the threat of cyber-attack, and Global Data said partnerships will be essential for success in the cyber insurance market in 2019. Sedgwick acquired Insight Adjusters and Surveyors in Singapore, and
Aon's protected cell facilities under the White Rock Group launched its seventh domicile in the District of Columbia.
2018 financial releases included those from Generali, Just Group, Ping An, and Prudential, and BMS and Charles Taylor. Senior appointments included those at ArgoGlobal, Channel Syndicate at Lloyd's, and PartnerRe in a reorganisation of its p&c business segment.
Full articles on the above topics are included in those added this week to the Newslink Global Trends Database Research Matrix service at www.onlystrategic.com