week commencing 13/01/19:

Despite our best efforts, we were unable to ignore Brexit this week. But for those of you looking for distraction from the endless discussion, read on for new products launched, milestones reached and growth plans debated.

No-deal could effectively invalidate millions of insurance policies
Following the government’s historic defeat of the Brexit Bill this week, industry executives have warned that a no-deal situation could leave millions of people unable to claim on their insurance policies. External-link [Financial Times]

UK insurers lead financial services in optimism for the future
According to the latest CBI/PwC Financial Services Survey, UK life insurers enjoyed the industry’s highest morale and sentiment remained stable in the general insurance sector. External-link [Insurance ERM]

Lloyd’s urged to prioritise US over emerging economies
The lobby group representing insurers in the marketplace has urged Lloyd’s to focus its growth plans on the States rather than the world’s emerging economies. External-link [Financial Times]

London market faces turbulence following Brexit vote
The failure of the Brexit deal in Parliament this week is set to prolong uncertainty in the industry, with carriers unable to continue their EU business after 29th March. External-link [Insurance Day]

Pool Re gauges ILS support with terror cat bond
Pool Re is testing industry appetite for ILS with a brand new £75m UK terror cat bond following a year of work on the project. External-link [The Insurer]

ZhongAn and Grab launch insurance joint venture in Asia
People in south-east Asia will soon be able to buy insurance through the ride-hailing app thanks to ZhongAn and Grab’s new partnership. External-link [Financial Times]

Marsh leads the way with 15,000 risks bound on PPL
Paul Moody, CEO of Marsh, celebrated his company reaching a “significant milestone” – more than 15,000 risks bound using the electronic insurance placement platform. External-link [Insurance Business Magazine]

PG&E seeks bankruptcy protection in Camp Fire dispute
Florida’s utility provider, PG&E, this week filed for bankruptcy protection as its legal dispute with carriers affected by Camp Fire heats up. External-link [Insurance Insider]

In praise of a “multi-stage life”
Now that we’re all living longer and with 50% of children born in England today expected to live beyond 100, the traditional journey of full time education followed by full time work then full time retirement will no longer work. Here’s why working into our later years may be no bad thing. External-link [Wired]


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