The April 2012 issue of Reactions, the global insurance and reinsurance publication, is now online.
The issue has a special focus on the future of the industry looking ahead at the coming decades, what challenges will arise and how insurers will have to adapt their strategies to survive. As part of the special focus we look at cyber risk insurance, which some tip will soon be the fastest growing insurance line.
In other features, we speak to the new CEO of Spanish insurance giant Mapfre, who tells us his concerns about Spain’s economic woes affecting how rating agencies view his firm. We also round up all the action from the Middle East’s MultaQa conference, which took place in March.
Not done there, we include out regular insurance M&A and insurance capital raising data.
SPECIAL REPORT: FUTURE OF INSURANCE
Feature: The end of insurance
As utopian ideals are replaced by dystopian visions of the future, insurance and reinsurance firms need to start looking beyond the usual three-year time horizon to survive.
Interview: Future-proof insurance strategy
Like most insurers, global specialty company Torus plans its business activities around a three- to five-year time horizon. But unlike most insurers, Torus has a group chief strategy officer whose job it is to examine longer term future developments.
Strategy: The insurance industry in 2020
A report from PWC predicts what the insurance world will look like in eight years’ time, and assesses what strategies insurers should adopt to survive.
Risk managers demand innovation on CBI question
Feature: It is not the prospects for a rapidly hardening market that is of most concern to European risk managers but how to tackle the contingent business interruption coverage question and the wider topic of innovation – or, rather, the apparent lack of it.
Cyber liability insurance set for rise
Cyber risk is set to be the fastest growing insurance line, with concerns about security breaches rapidly increasing among corporations. But insurers may not understand the liabilities they are taking on.
Profile: Antonio Huertas takes throne at Mapfre
The new king of Spain’s largest insurer is uncomfortable about sovereign risk following rating agencies downgrading the firm because of its home country's economic woes
GCC insurance market still lacking maturity
FEATURE: The Middle East remains attractive to insurers and reinsurers, but those in the region warn that the market has a lot of growing up to do.
Insurers, evolve or be left behind
Comment: It is clear that insurance will still have a fundamental role to play in 30 years’ time. It is less clear which market participants will still be around by then, says Michael Loney, managing editor of Reactions.
Insurance leaders' Solvency II unease grows
Comment: Insurance leaders are increasingly uneasy about Solvency II, with the CEOs of Axa and Ace among those raising strong concerns. And no wonder: the uncertainty engulfing Solvency II is unhelpful at this late stage, says Reactions’ contributing editor Garry Booth.
View From The Top: Swiss Life's Bruno Pfister
In a Geneva Association comment piece, Bruno Pfister, CEO of Swiss Life, argues that overburdening the system with poorly-thought-through regulation for insurance firms could lead to the opposite of the intended results
CNA’s Hardy purchase “a done deal”
Analysis: A London insurance market analyst says that the surprisingly attractive deal for CNA to buy Hardy Underwriting Bermuda is likely to complete as planned following Beazley’s announcement that it would not enter a rival bid.
EC hits back at Solvency II criticism
European Commission “fundamentally disagrees” with recent criticism by some insurance companies about Solvency II.
Insurance IT spend to go up 6.3% in 2012
New Celent report into insurers’ IT spending forecasts a positive future.
Legal Analysis: Canada's liability exposure
Liability insurers should take note that in 2012 all signs continue to point to Canada, and particularly Ontario, being an active jurisdiction for securities class actions.
February’s biggest insurance capital raising
Data: The value of insurance-related debt and equity deals both increase in February compared with January, with a $1.96bn debt raising from Allianz leading the way.
February’s biggest insurance M&A deals
Data: Sales of a share of The Hartford, an uncertain offer involving Italy’s second-largest insurer, and the acquisition of insurance broker Crump were the biggest insurance-related M&A deals in February.
RISKbitz: Tracy Island launches campaign to defend reinsurance business
The pacific atoll of Tracy Island is looking to entice start-ups with generous benefits and the use of Thunderbirds 1 to 4.
RISKbitz: El Vino effect will reduce underwriting losses
Science news: An El Vino effect has been detected in London’s EC3 district that specialists believe will lead to less frequent and less severe underwriting loss events.
RISKbitz news in tight briefs
Exodus Re announces plague losses, FSA to become tourist attraction and BRICs to harmonise rules to keep out foreigners.