week commencing 11/11/18:

In a week when Brexit has trumped all other stories with the noble exception of Iceland’s ‘political’ Christmas advert, take a moment to catch up on the insurance headlines.


Brexit deal receives a mixed reaction from the market
Wednesday’s announcement that a Brexit deal had been finalised has been met with a mixed response and plenty of apprehension from the insurance industry. External-link [Insurance Insider]


Losses from Californian wildfires projected at up to $10bn
The state’s deadliest ever wildfires have claimed over 40 lives and 10,000 properties and are projected to leave up to $10bn of insured losses in its wake. External-link [Insurance Day]


Storms batter the industry with $9bn of quarterly losses
This year’s storm season looks set to be less deadly than last year’s, when several major storms blew through a total of $144bn in insured losses, but insurers are preparing for more losses in the coming weeks. External-link  [Financial Times]


Ping An to invest $14.4bn in FinTech and MedTech
Chinese insurer Ping An is set to significantly up its investment in financial and medical technology over the next ten years, with a fund of CNY100bn ($14.4bn). External-link [Asian Insurance Review]


Gallagher on course for another acquisition pre-Christmas
Michael Rea, Gallagher’s retail CEO, has announced that its final acquisition of the year is pending regulatory approval and that 2019 will be a bumper year for deals at the company. External-link [Insurance Age]


RSA plans to exit three London market lines
RSA’s restructuring of its specialty and wholesale business has led it to pull out of the international construction, international freight and fixed-price marine protection and indemnity insurance classes. External-link [Post Online]


Airlocks and heavy-duty vaults: insuring auction treasures
Auctions are becoming increasingly popular and premiums are rising in turn, but do you know what it takes to insure the often priceless items on the roll? External-link [Financial Times]


Nationalism fuelling fake news in India
New research by the BBC reveals that many people in India prioritise the emotional desire to strengthen national identity over the presence of fact in a report. External-link [BBC]


Note:

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