Global Insurance Trends 10.05.2016
By Douglas Shillito
This week, Swiss Re published a new Sigma report which identified 21 frontier markets worldwide, and Willis Towers Watson, in its 2016 Global Medical Trends, highlighted the increase in the cost of health insurance.
Standard & Poor’s looked at the potential impact of climate change on financial services companies, and Marsh released its 2016 Captive Benchmarking Report. The International Underwriting Association(IUA) polled its members who favour staying in the EU, and the Association of British Insurers(ABI) warned on the growth of automated cars.
AXA UK continued its exit plan from the life sector by agreeing to sell its wrap platform business to Standard Life, and Aegon is to take over Blackrock’s Defined Contribution platform and administration business. There was a spate of first quarter results and interim management statements. Amongst the highlights were AIG (impacted by investment volatility), who sold $1.25bn worth of shares in China’s PICC; CAN (net and operating income down); Hanover (operating income per share improved); Manulife (boosted net income); Mapfre (a strong quarter); Direct Line (“top line growth”); Esure (“on track”); Hastings (good growth continues); and RSA (“year started well”).
Further updates came from Endurance Specialty (net income up following integration of Montpelier Re), Lancashire Holdings (profits down), Partner Re (“a solid quarter”), Validus (Holding up well), White Mountains (“good start”), Beazley (premium growth) and Markel (income up). Capsicum Re launched a Latin American arm, and Everest Re appointed an MD for Continental Europe.
Full articles on the above topics may be found on the Insurance Newslink and Financial Newslink global trends database services at www.onlystrategic.com.Category: News