Douglas Shillito
It was a relatively quiet period for the global insurance market over the Christmas and New Year festive time, but there were some important happenings. Munich Re reported that losses from natural catastrophes were up by two thirds in 2016 compared with 2015.
Willis Re’s 1st View Renewals Report looked at global reinsurance trends, and the International Underwriting Association (IUA) published its priorities for the London company market in 2017. The Lloyd's Market Association (LMA) released a new guide on catastrophe modelling, and EIOPA issued an Opinion on disclosure of information related to the use of transitional measures in the calculation of technical provisions.
NN Group moved for Delta Lloyd, and BGC Partners acquired Lloyd's broker Besso. Compre is to acquire AG Insurance's UK run-off, R & Q also continued its expansion by picking up captive run-off Clariant Insurance, and Marsh completed the takeover of Bluefin from AXA UK.
Hannover Re and SCOR received the regulatory nod to open branches in India, and The Hartford entered into a definitive asbestos exposure reinsurance agreement with National Indemnity.
There were senior appointments at Asta, Lloyd's, Miller, and RSA, whilst Legal & General appointed a new CFO, and previous ACORD SVP, John Bissell, was named COO at the Chartered Insurance Institute (CII).
Full articles on the above topics may be found on the Insurance Newslink and Financial Newslink global trends database services at www.onlystrategic.com.