week commencing 10/02/19:

Are you one of the 2.3 billion people on Facebook? New research has delved into what a world without the social media behemoth could look like. For more on this as well as our picks of the market press, read on.

Thiam withdrew Credit Suisse from Covéa deal

Tidjane Thiam, Chief Executive of Credit Suisse, personally intervened to pull Credit Suisse from its advisory role in the Scor-Covéa deal. External-link [Financial Times]

Aviva transfers $10bn out of UK amid Brexit uncertainty

Aviva joined the expanding list of carriers and banks acting on Brexit contingency plans as it approached a London court for approval to transfer assets worth $10.2bn out of the UK. External-link [Bloomberg]

Acquisition gives USI Insurance Services wholesale market growth

USI Insurance Services (the world’s 9th largest broker) is to acquire Dallas-based wholesaler US Risk Insurance Group Inc. The deal gives USI a much-increased presence in the wholesale market. External-link [Business Insurance]

Pool Re extended under new UK Government commitment

Pool Re will soon provide non-damage BI following the government’s decision to amend the 1993 Reinsurance (Acts of Terrorism) Act. External-link [Insurance Day]

M&A projected to slow in first half of 2019

Following a huge year of M&A activity in 2018, we should see fewer deals in the first half of this year before the pace picks back up in the latter half. External-link [Financial Times]

South Korea: first online-only general insurer coming this year

South Korea’s first online-only general insurer, InFit, is to make its debut in the final months of this year. External-link [Asia Insurance Review]

AXA XL to axe 711 European jobs

Industry powerhouse AXA XL has announced plans to cut 711 jobs from its European bases. External-link [Insurance Insider]

Marine insurers face pressure to reform

Oliver Ralph’s weekly fintech briefing discusses last month’s fatal explosion involving two cargo ships in the Kerch Straits, and how it has helped to ramp up pressure to reform marine insurers. External-link [Financial Times]

Surveillance software to help banish US school shootings

Parkland School in Florida – scene of a deadly school gun massacre last year – is using AI software linked to cameras to monitor students: teachers and parents have concerns. External-link [Washington Post]

Picture this: a world without Facebook

What would happen if Facebook suddenly vanished? A new experiment paints a picture of how society could change if the social media mammoth was to blink out of existence. External-link [The Economist]

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