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Africa - technology the insurance industry’s saviour
In a region shrouded in political turmoil, the insurance sector has been a slow burner, but Africa’s boom in mobile use could see the industry flourish.
Labuan sees captive reinsurance growth
The small Malaysian island is competing strongly with well know reinsurance hubs Singapore and Hong Kong as the tax free haven sees premium growth
Fitch drops Liberty Mutual's outlook to stable
The shift in rating outlook from positive to stable follows a particularly devastating catastrophe loss experience for the firm in 2017.
Trade bodies applaud trade agreement limits
A bill clarifying how international insurance agreements should be negotiated has passed the House of Representatives, leaving the Senate as its main hurdle.
Camp to head Chubb's Europe HNW business
Chubb appoints Annmarie Camp to lead its high net worth personal insurance business in Europe.
Fewer nat cat losses in 2018, but caution advised
Natural disasters across the world caused significantly lower losses than usual in the first half of 2018, according to provisional figures, with overall losses at around $33bn, the lowest level since 2005.
RSA DIFC appoints new SEO
Chris Riley has been named senior executive officer of RSA DIFC after holding the position on an interim basis since May - replacing Roland Zaatar.
AXA and XL Group reveal new branding
Following the acquisition of XL Group by AXA in March, the two companies have presented plans for combining XL Group operations, AXA Corporate Solutions and AXA Art into the new division of the AXA Group, dedicated to P&C commercial lines and specialty risks, following closing of the acquisition.
June storms cause estimated $3bn loss
Severe storms throughout the US have caused insurers an estimated $3bn in losses in June, according to Aon's global catastrophe recap report.
Comments
Senior reporter comment: After Brexit - FREE
It’s no exaggeration to say that in London on the morning of Friday June 24, there was an outbreak of grief, heartbreak and tears, following the news that Brexit had triumphed in the referendum and the UK was set to leave the EU.
Americas editor comment: Brexit's North American impact - FREE
The implications of the UK’s vote to leave the EU on the North American re/insurance industry remains opaque.
Editor's comment: Protectionism and Brexit - FREE
Protectionism is about the worst enemy that re/insurance faces, aside from Armageddon at the hands of war or natural catastrophe.
Garry Booth comment: Future shock warning - FREE
Some of what Alvin Toffler, author of influential book Future Shock, said about society could be applied to the insurance industry’s state of mind.
Editor's comment: China’s coming of age - FREE
China’s assets managed by insurers have doubled within four years, reaching around $2.1trn.
Garry Booth comment: Fort McMurray wake-up - FREE
Under successive leaders, Canada has been one of the worst performers on the global stage in terms of climate protection.
Americas editor comment: Latam growth elusive - FREE
Once the leading lights of the Latin American re/insurance industry departed the Ritz Carlton resort in Miami following our recent event, a couple of key issues stuck in the mind.
Garry Booth comment: Benmosche bio on AIG - FREE
If Carl Icahn is looking for holiday reading he might consider ordering the recently released autobiography of the late Bob Benmosche, writes Garry Booth, Reactions' contributing editor.
Americas editor comment: Disruptive influences - FREE
Disruption was the name of the game at this year’s Risk and Insurance Management Society’s annual gathering, writes Christopher Munro, Reactions' Americas editor.
Interviews
Mount Agnung losses expected to be low so far
A major eruption of Mount Agnung in Indonesia could cause more than $70bn in economic losses, but insured losses are expected to be low.
MMC Q3 results hit market expectations
Earnings per share ticked up to $0.79 for the quarter while underlying revenue at Guy Carp increased by 4% on the prior year period.
Interview: Chris Cotterell of Safeonline
One of the first brokers to build a book of cyber business, Chris Cotterell explains that the cyber market has come full circle.
Insurers are wasting unstructured data - CSC, Xchanging
Unstructured and underused data may be a gold mine for re/insurers according to CSC and Xchanging.
Xceedance targets a new outsourcing model
Xceedance CEO Arun Valakrishnan highlights the wealth of Indian tech talent that re/insurance businesses are failing to employ.
Africa in focus
Africa Re’s group managing director and CEO, Corneille Karekezi, gives his perspective on the outlook for the continent’s reinsurance markets.
Willis Re’s John Cavanagh: Time to buy more reinsurance
Willis Re’s chief executive John Cavanagh remains optimistic at his company’s future growth prospects even though market conditions are tough.
Nick Cook interview: The new face of BMS
BMS has undergone a comprehensive revamp – strategically and financially – since June last year. One year on, Reactions talks with BMS Group CEO Nick Cook to find out more about the ambitious five year strategy the broker is implementing.
Micro insurance consortium: Aspen’s Mario Vitale interview
Developing products that actually meet the needs of those in emerging economies, as well as creating reliable and user-friendly ways of both paying premium and collecting claims, will all determine whether the multi-company multi insurance venture incubator is a success, says Aspen’s Mario Vitale.
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May 2018
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