week commencing 10/06/18:

With the World Cup kicking off in Russia and Kim and Donald kissing and making up in Singapore, it’s hard for insurance to compete on the news agenda but here are our best picks.

London named as one of three cities most vulnerable to risk
New research from Lloyd’s and the University of Cambridge has found that London, Paris and Moscow are the cities most exposed in Europe to risk. External-link [Commercial Risk]

Analysis: The future of global commercial insurance market growth
Aon Inpoint, Aon’s data analytics group, has released a detailed growth projection for the global insurance market including a prediction that P&C insurance premiums will rise by $130 billion to be worth approximately $900 billion within three years. External-link [Insurance Journal]

Closure threat for loss-making Lloyd’s lines
Lloyd’s has piled pressure onto its low-performance syndicates by publicly revealing the worst-performing lines and threatening them with closure. Marine and open-market property featured high on the list. External-link  [Insurance Insider]

South Korea to welcome more reinsurers
As part of South Korea’s drive to develop its reinsurance market, the Financial Supervisory Commission has announced plans to smooth entry for potential new players. External-link [Asia Insurance Review]

GSK: Enhanced understanding of corporate exposures needed
GSK’s risk manager says the industry needs to focus more on how products can bolster innovation and de-risk firms rather than price and capacity. External-link [Insurance Day]

Pool Re welcomes ‘landmark’ government decision on NDBI losses
A change in UK law to allow the extension of terrorism cover to non-damage business interruption (NDBI) losses was celebrated by Pool Re this week. External-link [Commercial Risk]

Volante reveals $900 million deal for new underwriting teams
Nephila-backed new arrival Volante, a managing general agent, has unveiled plans for rapid expansion of its underwriting man-power with a $900 million capacity deal. External-link [Re-insurance]

Insurers make plans to capitalise on Belt and Road initiative
Insurance experts agreed this week that China’s multi-trillion-dollar Belt and Road Initiative offers the industry huge growth opportunities. They also agreed that insurers will be critical in developing ‘investable, legal, feasible and sustainable’ products. External-link [Asian Insurance Review]

‘Silent’ risks from blockchain may become apparent
As blockchain begins to be adopted more widely across the industry, an industry expert has expressed concern that carriers may be exposed to ‘silent’ risks introduced by the technology. External-link [Re-insurance]

Allianz keeps industry on tenterhooks with acquisition drive
Allianz CEO Oliver Baete isn’t done with deals yet as he leads Europe’s largest insurer towards another acquisition. The only question is – who will be his next target? External-link [Bloomberg]

Lloyd’s launches Lloyd’s Lab, a new insurtech sandbox
Industry history was made this week as the market embraced the global tech start-up and entrepreneur community for the first time in its 330-year history. External-link [Insurance Age]

‘Insuring’ the World Cup goes off without a hitch
It was a proud moment in Luther HQ this week when client Beazley’s World Cup insurance infographic went viral. We all know there’s a huge amount of money in football but the mind boggles at some of the figures included – £150 million insurance for the top stars and tournament cancellation insurance of approximately £1 billion amongst them. External-link [Daily Mail]


External-link. External links are being provided as a convenience to relevant content; they do not constitute an endorsement or an approval by Luther Pendragon of any of the services or opinions of external content. Luther Pendragon is not responsible for the accuracy, legality or content of these external sites. Please also note that some external content may require a subscription to view.