Douglas Shillito
This week, The International Underwriting Association (IUA) spelt out four detailed priorities from Brexit negotiations identified by companies in the London Market, as Brexit issues dominated the mainstream media. Willis Towers Watson responded to the UK Treasury Select Committee inquiry into Solvency II suggesting changes, mainly relating to life business, and also issued a report, written with Cass Business School, indicating that insurers involved with a major acquisition are increasingly outperforming their competitors in terms of share price. Standard & Poor's released an article on recent discussions with investors highlighting key risks for European insurers, and Insurance Europe published a position paper calling for the modernisation of Value Added Tax (VAT) for financial services to be put back on the EC agenda. EIOPA issued a Discussion Paper on Potential Harmonisation of Recovery and Resolution Frameworks for Insurers.
AXIS Capital moves for Aviabel, and Markel International entered into a master underwriting agreement with energy insurance specialist J.H. Blades & Co. Aegon named a new CFO, RSA a Group Chief Technology Officer, and Willis Re appointed James Kent to Global deputy CEO.
Full articles on the above topics may be found on the Insurance Newslink and Financial Newslink global trends database services at www.onlystrategic.com.