week commencing 14/10/18:

Do you ever feel like your to-do list never shrinks despite hours of hard toil at your desk? Good news: you’re not alone. Bad news: our continental colleagues are working slower and yet still doing more. For an explanation as well as the week’s market highlights, read on.


New Lloyd’s CEO hits the ground running
With the eyes of the industry upon him, John Neal has begun his tenure as CEO of Lloyd’s. External-link [Insurance Day]


Bank of England issues climate change preparation warning
In an unprecedented move, the Bank of England has issued a warning that the nation’s banks and insurers must prepare for the risks introduced by climate change. External-link [Financial Times]


Autumn budget concerns start rising
Fears are rife amongst small and medium sized businesses especially that the Chancellor will raise insurance premium tax (IPT) in the autumn budget. External-link [Commercial Risk]


Diversification drive behind Cincinnati’s Beaufort buy
Ohio-based insurer Cincinnati sought to diversify through its purchase of Beaufort and will give its new acquisition a ‘healthy degree of autonomy’. External-link [Insurance Insider]


Natural disasters deal Swiss Re a $1.1bn blow
Reinsurers are preparing to face huge bills as a spate of natural catastrophes including storms, wildfires, flooding and more deal a blow to the sector. External-link [Financial Times]


Humanoids land in Singaporean insurance industry
AIA Singapore’s customer service just went bionic: two roles have been filled by humanoid robots. Powered by AI, they will learn from each customer interaction and improve their performance over time. External-link [Asian Insurance Review]


Catalina sets sights high after huge capital raise
After raising $700m in capital, Catalina is targeting the ‘sector’s biggest deals’. The huge injection of capital has made Apollo the carrier’s majority shareholder. External-link [Insurance Day]


ILS continues infiltration of primary markets
MMC’s MGA unit has welcomed a global head of capital markets, and in doing so has boosted the growing presence of alternative capital in the primary commercial markets. External-link [Re-insurance]


PPL rolls out treaty reinsurance
It was a victory for PPL on Monday when treaty reinsurance went live on the London market trading platform. External-link [Insurance Day]


All work and no play makes Britain an exhausted nation
The pace and intensity at which Britons work is higher than many of our friends on the continent including economic powerhouses France and Germany, yet our productivity is trailing. External-link [Financial Times]


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