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News
Lloyd's suspends two passholders over inappropriate behaviour
Widespread allegations of inappropriate behaviour at Lloyd’s have emerged in recent months
PIC seals £5.8bn of pension business in H1
The specialist insurer said it has been a record-breaking first half for new business
CRO Forum highlights blockchain technology's limitations
The forum says a mature blockchain-based insurance solution has yet to be identified
AIR updates New Zealand earthquake model
The model incorporates scientific research after the 2010-2011 Canterbury earthquake sequence
Regulation is discouraging talent from joining insurance industry
Experts stressed focusing on innovation is crucial to attracting the next generation
IFRS 17 consultation expected on 26 June
Proposed amendments are narrow but provide meaningful changes, says IASB
Oasis LMF rolls out cat modelling package
The Wave aims to create more openness and interoperability
UK insurers to participate in climate stress tests in 2021
Bank of England governor Mark Carney has set deadline for UK financial institutions
Tokio Marine Kiln Insurance to be placed in run-off
Tokio Marine Group shifts focus to Lloyd’s business
Insurers face plethora of unknown risks, warns Pool Re chief
Julian Enoizi was speaking at the Cambridge Risk Summit
Traditional risk management "no longer sufficient" for financial institutions
Alessandra Mongiardino called for firms to take a contemporary approach
Generali Italia ties up with Google
The partnership starts in Italy and will be extended worldwide
UK insurers want greater flexibility for IFRS 17 transition
Huw Evans outlines ABI’s initiatives
Axa CRO to take on investment role
Responsibilities shift as new CFO announced
AIG combines reinsurance operations to form AIG Re
AIG Re includes Validus Re, AlphaCat and Talbot Treaty
PRA tells life actuaries: focus on model drift and proxy modelling
UK regulator outlines initiatives in the next 12 months
Sompo International deploys AIR's casualty analytics platform
The re/insurer said the platform helps to identify accumulations of exposures
Saga reveals fixed-term policy uptake amid crackdown on loyalty charges
The over-50s insurer pledged in April to offer three-year fixed insurance policies
UK insurers face climate and cyber quiz in annual stress tests
The Prudential Regulation Authority has sent a letter to the largest life and general insurers
Royal London hires CEO from Standard Life Aberdeen UK
Barry O'Dwyer to replace Phil Loney in September
EU creates landmark criteria for sustainable activities
Taxonomy defines economic activities that can be considered sustainable
Rates spike in marine insurance market after Hormuz attacks
Lloyd’s Joint War Committee gives go-ahead for additional premiums in area
Aegon UK chooses Legerity for IFRS 17 implementation
Legerity also opens Hong Kong office and hires Asia-Pacific head
Nasdaq ModEx signs CoreLogic to provide US earthquake model
Third US cat model on Nasdaq’s multi-vendor cat platform
Oasis LMF added to Fractal insurance platform
The Fractal platform supports re/insurance views of risk and can integrate vendor models
Insurtech weekly: Liberty Mutual, Sapiens, Policy Expert, Kovrr
InsuranceERM rounds up the latest developments in the fast-moving world of insurtech
Perils acquires Canada's CatIQ
CatIQ provides catastrophe loss and exposure information on the Canadian market
Insurers gain little in ComFrame consultation response
IAIS does not yield to claims of prescriptive and burdensome framework for international insurers
Länsförsäkringar criticises "sluggish" law-making to combat climate change
Who pays to bolster Sweden's cities from natcats remains unclear, insurance giant argues
Athene co-founder announces retirement
Sean Brennan to oversee Athene’s flow reinsurance business, in addition to PRT role
Analysis
"The mummy track or the director track?"
Steps to increase equality and diversity in the financial services industry are under way, but as witnesses at a recent UK parliamentary meeting observed, there is still much to be done. Paul Walsh reports
Ireland's insurers zero in on operational resilience
Operational resilience is fast becoming the watchword for Ireland's re/insurance market and the country's insurance regulator. Ronan McCaughey explains
Figuring out profit emergence under IFRS 9 and IFRS 17
Gavin Conn and Steven Morrison examine how the choice of liability discount rate affects the expected profit emergence and earnings volatility under IFRS 9 and IFRS 17
Regulatory doubts holding back advanced modelling
US regulators are ill-equipped to oversee predictive models and may be slowing the adoption of new technologies, says a study by the Society of Actuaries. Sarfraz Thind reports
2019 Atlantic hurricane season: facing the eye of the storm
Forecasters are predicting a relatively average Atlantic hurricane season, but emerging risks could impact losses in unexpected ways. Paul Walsh and Sarfraz Thind report
Why South Korea leads the way on IFRS 17
South Korea has pioneered the adoption of the new accounting standard for insurance contracts, as well as coping with preparations for a new capital standard at the same time. Martin Sarjeant explains how
NAIC forum: technology, data science and Brexit
The NAIC's international meeting this month proved a lively affair. Beyond the regulatory dissection, participants had a lot to say on issues ranging from technology to Brexit. Sarfraz Thind reports
Setting the record straight on ICS 2.0
Paul Walsh speaks to Victoria Saporta, IAIS executive committee chair, to discuss the outlook for the global insurance capital standard (ICS)
Credit insurers shelter from the crossfire in trade wars
The health of the trade credit insurance sector is linked to a thriving global economy, so how does a trade war between the two biggest nations affect the business? David Walker reports
GDPR - 365 days later
Insurers were vocal about the challenges they faced from the EU's General Data Protection Regulation's (GDPR) implementation last May. Ahead of its one year anniversary, Paul Walsh considers the lessons learned, the ongoing challenges and what the future holds