week commencing 23/09/18:

Brett Kavanaugh’s battle for the Supreme Court and the EU’s Chequers rejection have stolen the headlines this week, so take a moment this weekend to catch up on our industry highlights.

Apollo faces criticism for dealings with affiliate life insurer
A former Apollo Global Management employee has criticised the company for the scale of asset management fees that it charged an affiliate life insurer. External-link [Financial Times]

Lloyd’s China feels the effects of syndicate retrenchment
As a result of the retrenchment of several of its syndicates over the last year, the value of premiums written on the Lloyd’s China platform has shrunk by 30%. External-link [Re-insurance]

Insured Mangkhut losses estimated in range of $2bn
AIR has estimated that Typhoon Mangkhut, which hit Hong Kong last week, has left up to $2bn of insured losses in its wake. External-link [Insurance Insider]

Companies face increasing threat from global political troubles
A cocktail of sanctions, rapid currency fluctuations, bubbling trade wars and more are posing an ever-higher risk to companies’ finances. External-link [Financial Times]

A.M.Best: Industry caution slows pace of innovation
Even as the need for change and progress becomes clearer, insurers are reluctant to commit to innovation because of fears about the disruption that new technology and systems can cause. External-link [Carrier Management]

LMG’s new delegated authority platform opens for business
As part of its London Market Target Operating Model, the London Market Group this week launched its new delegated authority platform. External-link [Intelligent Insurer]

Swinton to join Ardonagh group
The move is still pending regulatory approval, but Swinton is set to join the Ardonagh group of companies after an acquisition deal was agreed. External-link [Insurance Post]

Scor deal rejection fallout rumbles on
Following Scor’s rejection of a $9.6 billion takeover offer a month ago, Thierry Derez, CEO of Covéa, is to temporarily relinquish his seat on Scor’s board. External-link [Reinsurance News]

Lost in translation? Not for long
With ever more people relying on translation apps over more traditional holiday phrase books, artificial intelligence and deep neural networks are key to helping us to breach the language barrier. But how good are they really? External-link [BBC News]


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