week commencing 24/02/19:

The Trump-Kim summit sank, Labour backed a second Brexit referendum and Britain basked in a worryingly early heatwave, but what happened in insurance this week? Read on for our picks of the market press.


Scor sues Barclays as failed takeover fallout continues
Scor is to take legal action against Barclays after the bank allegedly “botched” the Covéa takeover deal documents. External-link [Financial Times]


China: regulator approves flexible loan insurance for private sector
The Chinese banking and insurance regulator is taking action to stimulate borrowing by allowing carriers to provide flexible loan insurance products to the private sector. External-link [Asian Insurance Review]


RSA’s “underperforming” London arm hurts profits
UK carrier RSA’s London Market specialty and wholesale business reported £109m in underwriting losses last year. External-link [The Insurer]


Hiscox considers turning new ILS fund into rated carrier
Hiscox is considering turning its new $100m Kiskadee Latitude fund into a rated carrier, creating advantages for its investors. External-link [Insurance Day]


UK insurers pile on pressure to avoid no-deal Brexit
Huw Evans, Director General of the Association of British Insurers, has warned that a no-deal Brexit would amount to an “unforgivable act of economic self-harm”. External-link [The Independent]


Pool Re issues first ever terrorism cat bond
Pool Re’s world-first £75m bond was issued under the UK’s new and growing ILS regime. External-link [Insurance Day]


LMG puts its clients first
The trade body’s board has launched a push for “sharper focus” on client need with new measures directed at improving client service and access to research in the market. External-link [Insurance Insider]


David Gittings joins XIS board
Following his retirement from the LMA, David Gittings has joined the board of DXC Technology joint venture XIS. External-link [Insurance Insider]


Man vs machine: algorithms to cause trouble
In today’s increasingly screen-centric world the algorithm is king, but what happens when algorithms get too smart? Regulators will have to keep a close eye, says Tim Hartford. External-link [Financial Times]

 


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