week commencing 04/03/18:

This week almost everyone has something to worry about. Bermudian reinsurers are looking nervously over the horizon for the next takeover. Larger firms are worrying about gender pay gap reporting and smaller businesses seem unprepared for new EU data rules. Read on to discover the experts’ views on all of the above and more.


Q4 results surpass expectations
Insurers have managed to beat expectations with 59% of carriers reporting that they have met or exceeded predictions in the turbulent last few months of 2017.  External-link [Insurance Insider]


XL Group sells for $15.3 billion
The final figure for Axa’s XL takeover has been agreed at $15.3 billion, with Axa paying a 33% premium per share on Friday’s closing price. External-link [Insurance Insider]


Industry heavyweights work together for Toredo
Liberty Speciality Markets’ (LSM) new web-based trading platform, Toredo, has received significant support already with Channel Syndicate, LSM and Canopius joining to provide capacity in a $27 billion collaboration. External-link [Reinsurance News]


83% of companies still haven’t reported gender pay gap data
With only a month to go before the deadline, the government has only received information about gender pay gaps from one in six British businesses. External-link [Financial Times]


Low expectations for the insurance sector in gender pay review
Ed CEO Steve Hearn has predicted a poor showing from the insurance sector when the results are published in April, saying it will “disgrace itself” compared to other parts of the financial services industry. External-link [Insurance Insider]


Specialists’ struggles highlighted by XL Group deal
In the wake of Bermuda’s XL Group sale to Axa, the increasing pressures faced by specialist insurers have been thrown into sharp relief. External-link [Financial Times]


Concern grows amid widespread ignorance of new EU data rules
With important personal data rule changes set for implementation in three months’ time, it is estimated that over 90% of small British businesses are unprepared. External-link [Financial Times]


Doubts swirl about financial services after Brexit
French Economy Minister Bruno Le Maire says that “life will go on” after Brexit, but repeated previous statements that any future trade agreement will not include assurances on financial services. External-link [Financial Times]


Shake-up at the top of RMS as CEO departs
RMS co-founder and CEO Hemant Shah has stepped down and is to be replaced by Silicon Valley veteran Karen White. External-link [Insurance Day]


 

It’s time to get savvy about fake news
The term ‘fake news’ has dominated headlines for the past year or so, and rightly so. Amid reports of the so-called ‘weaponisation’ of misinformation by parts of the media, presidents and even nation states, it’s time to sharpen up our fake news filters. External-link [Financial Times]


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