week commencing 04/11/18:

In a week where the US midterms turned the country a little bit blue and Brits were reminded of the importance of Dover, the market news served up some choice headlines too.

PPL uptake soars
Lloyd’s has been working towards a target of placing 30% of slips electronically by the end of the year and following a bumper third quarter it is close to doing so. External-link [Insurance Insider]

China: Ping An turns away from overseas acquisition
Ping An’s CEO has announced a decision to focus on the domestic market as a priority rather than chasing a large overseas acquisition. External-link [Financial Times]

MMC’s JLT takeover gets the go-ahead
Voting shareholders expressed almost unanimous support for the $6.4bn deal. External-link [Insurance Insider]

ILS issuance set to break records
According to Willis Re, issuance has hit the Q3 record and is on course to surpass annual records. External-link [Insurance Day]

Lloyd’s must tackle cost of placing business
Greenlight Re CEO Simon Burton says the market’s cost disadvantage will be thrown into sharp relief by its profitability drive. External-link [Insurance Day]

David Summers blasts “low value” cyber insurance
David Summers, new UK CEO of Simply Business, says the cyber products currently on offer are a very poor match with what consumers think they are getting. External-link [Insurance Age]

Amazon tops list of potential market disruptors
A survey of 1000 insurers found that the industry believes Amazon is the platform with the most potential to seriously shake up the insurance market in the coming five years. External-link [The Actuary]

Berkshire Hathaway repurchases almost $1bn of shares
In a move that speaks volumes, the third quarter has seen Warren Buffett’s Berkshire Hathaway buy back $928m of shares. External-link [Financial Times]

Catlin and Brand fundraising (re)insurance business
Stephen Catlin and Paul Brand have set a $3bn target for a fundraising effort in a drive to create a new (re)insurer to operate in the London market and in Bermuda. External-link [Insurance Insider]

Look to Asia for the next insurtech unicorns
At present China is the only Asian country that has produced an insurtech unicorn, but that looks set to change very soon. So, who are the ones to watch, and why are they all coming up now? External-link [Fintech News Singapore]

The rise of the screen zombie
Those of you with iPhones will have noticed a new app if you have updated in recent weeks. It tracks your screen time. Unsurprisingly, the results for most of us have been… unflattering.  [Financial Times]


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