week commencing 08/07/18:

This is officially a football free zone!  Instead, in the midst of the heat wave, we are choosing to focus on a flood theme with monsoon rains bringing disaster to many in Asia and tragedy elsewhere avoided by the efforts of the miraculous cave rescuers of Thailand.  For the best Brexit /cave rescue mash-up go straight to the “Strong and stable” story at the end.

Lloyd’s may look outside its borders for the next CEO
Insurance Day’s editorial reports that five of the last six Lloyd’s CEOs, with the exception of Inga Beale herself, have come from outside the market – bringing with them a wider view which benefits all parties. External-link [Insurance Day]

Claudio Gienal to take the helm at AXA
Amanda Blanc, who is taking on the role of CEO of Zurich in Q3 of 2018, will be replaced by AXA insider Claudio Gienal, most recently Chief Strategic Development Officer at AXA Group. External-link [Insurance Post]

Cyber loss proves profitable for US underwriters
Although 2017 was billed as a year of unparalleled cyber attacks and saw the largest ever claims, US cyber insurers managed to hold a combined ratio of 61.4%, while premiums climbed to over $1.8bn. External-link [Reinsurance]

Aon expects BI and flood losses after Japanese floods
The losses from this week’s Japanese floods and mud slides will run into the hundreds of millions, mainly from business interruption and flood damage, Aon believe, though the toll of damage is still rising, as the bad weather continues in the region. External-link [Insurance Day]

Health insurance in India proves a challenge for all parties
The Indian health insurance market is already very large, and the nation’s adults have an existing tendency to prioritise spending on health cover.  But the latest government scheme, looking to support 80% of the population, may not win backing from healthcare providers. External-link [Asia Insurance Review]

Frontline issues first cat bond for US storms
Swiss Re have structured a first ILS transaction for the US home insurer Frontline.  The bond covers named storms in several US states. External-link [Reinsurance]

‘Strong and stable’ was seen in a Thai cave, not the UK Cabinet
The Financial Times enjoyed highlighting the comparison between the exemplary conduct of the professionals and children involved in the Thai cave rescue, and what it described as the ‘omnishambles’ of the UK Cabinet over Brexit.  External-link  [Financial Times]


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