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News
UK High Court blocks Prudential-Rothesay Life £12bn annuity transfer
The deal had been part of Prudential’s plans to separate its UK and European business
Fitch: Bermuda treatment of tier 3 capital for re/insurers raises questions
Fitch Ratings warns of “conflicting language” in how the BMA treats tier 3 capital
Aspen loses $37m in H1 as underwriting expenses rise
The loss follows a net income of $16.1m in H1 2018
Travelers names Yafit Cohn its first chief sustainability officer
Cohn’s appointment continues the growing trend of insurers employing chief sustainability officers
Credit spread movement hits Aegon's Dutch Solvency II ratio
Ratio drops from 190% to 152% year-on-year
Lower claims and strong investment return boosts QBE
The Australian insurer’s investment portfolio delivered an annual net return of 6.8% in H1 2019
Nat cats cost insurers $15bn in H1
Insured losses for nat cats in H1 were half of the 10-year average
Typhoon Lekima: insured losses in China to exceed $850m
Predicted total economic losses from Lekima are reportedly as high as $7.4bn
AIG names Richard Olsen chief actuary, general insurance
Olsen was previously CFO of Munich Re’s US P&C reinsurance subsidiary
Share risk management best practice at InsuranceERM's Americas conference
The annual Insurance ERM Americas conference will take place in New York on 16 September.
Prudential to complete demerger by Q4
The UK insurer's chief executive has also dodged giving a view on the Hong Kong protests
Legal & General completes Hitachi Data Systems bulk annuity deal
This is the third buy-in deal between Legal & General and the Hitachi plan
Apra imposes additional A$250m capital requirement on Allianz Australia
The amount is being imposed "due to heightened operational risk"
Admiral bemoans Ogden impact in H1
The UK motor and home insurer expects to be hit between £50m -£60m from the Ogden rate change
Canada considers revising insurance capital guidance for IFRS 17
Regulator will also consult on IFRS 17 accounting policy choices this autumn
Get your free entry in InsuranceERM's 2019-2020 Technology Guide
Basic entry is free of charge and the deadline for entries is Thursday 15 August
Sun Life becomes first life insurer to offer a sustainability bond
Canadian insurer to use 10-year debenture notes to finance investments in green and social assets
Insurtech roundup: Arturo; Trov; Greenlight Re; Canopius
InsuranceERM rounds up the latest developments in the fast-moving world of insurtech
"Manageable" catastrophe losses boost Latin American reinsurers' profits
Long-term relationships with ceding firms drive stable renewals
Lloyd's syndicates exceed electronic placement target
The syndicates placed over half of their in scope risks electronically
NN's Lard Friese to become Aegon's CEO
David Knibbe will succeed Friese as chief executive of NN Group
Townsville Australia flood losses continue to rise
Property insurance losses from the flooding have hit the $800m mark
Jebi loss creep takes its toll on Talanx
The German re/insurer experienced losses of €54m from typhoon Jebi
Property catastrophe reinsurance rates up 15-25% after 2018 losses
Reinsurance sector remains resilient, says S&P
Atlantic hurricane season set to ramp up
The National Oceanic and Atmospheric Administration has forecast increased hurricane activity
Rothesay Life seals £520m buy-in with Cadbury Mondelēz Pension Fund
It is the second tranche of de-risking undertaken by the pension scheme
FTI Consulting hires from EY, Oliver Wyman, Mazars to build EMEA insurance consultancy
London-based team seeks to offer “cross service” independent expertise
Zurich commits to insure controversial Trans Mountain pipeline
Activists urge insurers to drop the Canadian oil sands pipeline project
S&P calls for greater 'silent cyber' focus
Reinsurers could capitalise on the potential of the cyber-insurance market but must be proactive
Hannover Re's Viridium investment boosts H1 life and health profit
Reinsurer gained one-off income of Є100m from the run-off specialist
Analysis
How to avert the big data threat
Big data analytics promises to revolutionise risk selection for insurers, but threatens to marginalise higher-risk groups. Paul Walsh investigates how the “solidarity monitor” devised by the Dutch insurance association can help avoid exclusion
Mortality reserving windfalls: a reversal of fortune?
UK life insurers have enjoyed several years of unexpected profits thanks to the slowdown of mortality improvements, but recent statistics hint this trend may be about to reverse. Cintia Cheong reports
Solvency II's biggest unintended consequences
In part two of a Q&A to accompany the launch of his book on Solvency II, Karel Van Hulle discusses the impact of the directive, and how the insurance sector should prepare for sustainability, Brexit and new technologies
Liquidity risk management for life insurers
Managing liquidity requires a different approach from managing capital and must often be considered over different, typically much shorter, time periods – as consultants at Milliman explain
Karel Van Hulle: “I want the objectives of Solvency II to be remembered”
As a former head of insurance and pensions at the European Commission, Karel Van Hulle was central to the development of Solvency II. To coincide with the launch of his book on the directive, he talks to Christopher Cundy about its gestation, flaws and future development
Implementing IFRS 17 discount curves: theoretical and practical challenges
Insurers will have to develop their own assumptions around discount rates under IFRS 17, which will re-open some old debates around incorporating the illiquidity premium. Steven Morrison explains.
Canopius: looking east and west for growth
This year's deals involving AmTrust and Samsung have given the 16-year-old Lloyd's operation a fresh impetus, as chairman Michael Watson explains to David Walker
Dive In 2019: catching up on diversity and inclusion
The insurance industry was heavily criticised during last year's Dive In festival for its poor approach to diversity and inclusion. Nearly twelve months on, Paul Walsh finds the sector is beginning to listen.
In the Spotlight: Gefion Insurance
The Danish motor insurer is latest to require remedial action by regulator Finanstilsynet after deficiencies were identified in its capital and risk management practices. David Walker reports
Climate risk in the US: time to stand up
Trenchant politics, vested interests, short-term thinking ... tackling climate change in the US is an uphill battle. Washington insurance commissioner Mike Kreidler tells Sarfraz Thind about the difficulties of standing up to the status quo