week commencing 23/06/19:

This week’s PR fail goes to the bucolic photo of the Boris love-in that failed to establish a continuity of hair cut – schoolboy error!   Meanwhile, the Luther team has been eagerly awaiting the Sahara Bubble, while digging deep for the stories that make the headlines in our world …

Information, information, information

The Bank of England has said carriers need to make better use of data and analytics to ensure the cyber market can develop to meet demand. External-link. Insurance Day


Tokio Marine Kiln closing UK insurance company

Competition has driven TMK out of the UK market with the book going into run off at the end of June. Going forward, the focus will be on the company’s Lloyd’s operations. External-link. Insurance Times


Pioneer to stay independent, for now

Pioneer needs further work on its capital structure and performance before it can follow stablemate BMS to market. Multiples achieved by BMS represented a high-water mark for valuations in this space. External-link. Insurance Insider


Lloyd’s continues to act tough on inappropriate behaviour

Two members of Lloyd’s have been suspended as the market  moves to enforce “the highest standards” of conduct and launches a confidential access point for reporting inappropriate behaviour. External-link.Insurance Day


Insurers’ dilemma: what to do with ‘unethical’ industries?

ASR, a Dutch insurer, is considering withdrawing cover from gambling companies and nuclear power generators in line with its ethical investment policy. Allianz meanwhile maintains engagement is good. External-link. Bloomberg


Zurich America sued over Vegas shooting defence costs

4,000 individuals are suing MGM Resorts, owner of the Mandalay Hotel, following the mass shooting in 2017 and MGM is in turn suing Zurich for defence costs “in the millions of dollars” over the damage claims, according to Court papers filed this week. External-link. Insurance Journal


Lloyd’s launches £53mn innovations facility for new risks

Twelve carriers including Beazley and Liberty Specialty Markets have put their weight behind a new facility to trial new types of insurance for complex and non-standard risks, including intangible assets, and supply chain risks, or mishaps caused by artificial intelligence. External-link. Insurance Age


The downside of ‘doing more with less’

The US Navy is going great guns with minimal manning, favouring problem-solving multi-taskers over specialists. Although that might sound familiar to some in the market – the downside is that with a survivability rating of just 1, if the ship gets hit, the crew must jump. External-link. The Atlantic


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