week commencing 06/05/18:

So Taylor Swift made up with Katy Perry but Donald Trump fell out with Iran and it was all done on social media!! Meanwhile, insurers grapple with pricing, Brexit and possibly a short stint in rehab.

Insurance industry moves to cover all bases after Brexit
Industry leaders including Lloyd’s, AIG, Allianz and more are making moves independent of Brexit developments in a bid to ensure that their customers have uninterrupted access whatever the outcome. External-link [Reuters]

IPO flop for Axa’s US business
Investors sent a clear message to AXA CEO Thomas Buberl as the sale of its US arm raised almost $1 billion less than expected. The results paint a picture of investors’ reservations about AXA’s takeover of XL Group. External-link [Bloomberg]

Lloyd’s turns its back on the NRA
Lloyd’s of London moved against one of the biggest and most powerful industries in the US this week by issuing a mandate to all carriers to stop writing NRA insurance programmes. External-link [Insurance Insider]

Opinion: rehab needed for London market’s “bar full of drunks”
Scott Vincent argues that Evan Greenberg’s recent disparaging comments on London’s underwriters lay bare the need for an attitude adjustment in seeking more favourable returns. External-link [Insurance Day]

Trade credit insurance prices on the rise
The cost for UK businesses to protect themselves from customers going bust is on the rise, driven primarily by Brexit and a run of bankruptcies. External-link [Financial Times]

Opinion: vicarious liability being pushed further and further
David Williams, Insurance Partner at DAC Beachcroft, explains how the elastic boundaries of vicarious liability are being stretched despite warnings from the Supreme Court. External-link [Insurance Post]

Gallagher’s Risk Services purchase is sign of things to come
Michael Rea, UK retail CEO of Gallagher, says the deal will serve as the “template” for future deals in the UK. External-link [Insurance Age]

Opinion: greater investment flexibility on the horizon for insurers?
Ritesh Bamania of Lombard Odier Investment Managers says that the proposed Solvency II changes promise improved flexibility, but insurers should be wary of the fallout of Eiopa’s review. External-link [Insurance Day]

Loyal car insurance customers promised rewards
Frustration surrounding the excessive price of car insurance renewals was acknowledged by the industry’s biggest names this week when they promised to crack down on the often-huge price gap between new and existing policy-holders. External-link [BBC]

FCA urged to use its powers in personal lines
The ABI has called on the FCA to take action on dual pricing in personal lines by putting the new guiding principles into practice when supervising firms. External-link [Insurance Age]

Facebook reshuffle hints at future ambitions
The biggest reshuffle in the company’s history is underway and has shed light on its blockchain plans. Its operations are being organised into three new units: ‘Family of apps’, new platforms and infrastructure. External-link [The Telegraph]


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