week commencing 21/10/18:

As winter makes its first approach and evenings get darker, the news agenda provides little cheer. Ongoing Brexit chaos, a brewing insurance crisis in Asia and a tech brain drain… time to book a holiday?

Market offers its support to governments reacting to disaster
A spokesman for Lloyd’s of London has said that the marketplace will offer “innovative insurance solutions” that can provide rapid financial relief to governments in the wake of a disaster. External-link [Financial Times]

Heavy Q3 losses impacting renewal negotiations
The reinsurance industry has been fighting against price reductions, third-quarter cat losses will only support their argument. External-link [Insurance Day]

AIG prepares for Q3 catastrophe losses
American International Group (AIG) is expecting Q3 pre-tax catastrophe losses in the region of $1.5-$1.7bn. The figure reflects the impact of recent natural disasters in America and Asia. External-link [Re-insurance]

Lloyd’s reports widening underinsurance gap in Asia
The Lloyd’s Underinsurance Report 2018 says that the protection gap in Asia has grown from $122.5bn in 2012 to $134bn today, a leap of 9.4%. The report warned that governments of developing countries could struggle to fund recovery efforts after a natural disaster. External-link [Asian Insurance Review]

Alston Gayler and Co acquired by Miller
Seeking to improve its wholesale and specialist broking capability, Miller has purchased independent London market broker Alston Gayler for an undisclosed sum. External-link [Insurance Age]

China continues search for Anbang investors
Sources report that Swiss Re and Cerberus have both entered into preliminary discussions around acquiring a stake in embattled Chinese insurer Anbang. External-link [Insurance Business Magazine]

Chubb chief warns over future of Lloyd’s
Chubb Chairman and CEO Evan Greenberg has warned that Lloyd’s needs to make changes and become more efficient if it is to continue attracting business in future. External-link [Insurance Day]

The bright future of ILS
Willis Towers Watson’s Global ILS Market Survey paints a bright picture for ILS, saying that “cedants and funds share the view that ILS will continue to grow”. External-link [Reactions]

Is Britain in the midst of a tech brain drain?
Britain is the proud home of countless industry disruptors; ASOS, Revolut and Funding Circle to name but a few, and London is widely accepted as a global hub of innovation. So why are so many companies with sky-high potential now moving away? External-link [Telegraph]

Economics and the rise of populism; read all about it
For those of you searching for something to read this weekend or (whisper it) getting ahead on your Christmas shopping, Martin Wolf has some outstanding suggestions. External-link [Financial Times]


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