week commencing 24/06/18:

Boris Johnson’s personal PR hit a new low with his “f*** business” comment on Brexit concerns – and that was after he decided that Kabul was a great place to hide from the Heathrow vote. But there’s more to the news than BoJo’s antics and we’ve gathered our market highlights for you here.

Willis Towers Watson ready for more deals
John Haley, Willis Towers Watson CEO, says that the broker is preparing to ramp up its M&A activity.  [Insurance Day]

Insurtech to re-vamp small business insurance
“It is the hottest sector bar none right now” according to Nigel Walsh, a partner at Deloitte specialising in insurance tech. It appears that small business insurance will be the next market to feel the benefit of attention from the innovation of insurtech entrepreneurs.  [Financial Times]

AmTrust jettisons Lloyd’s marine business
In a shock announcement on Monday, AmTrust said it would be closing its Lloyd’s marine book, which has an estimated value of up to £30 million.  [Re-insurance]

Motor insurers reevaluate pricing following Ogden rate cut
Research by Aon has shown that UK motor insurers are reviewing pricing and reserving of large claims after the recent 1% Ogden rate cut, with many pricing it in.  [Insurance Day]

China considers cross-border insurance channel with Hong Kong
Authorities in Beijing and Hong Kong are collaborating on a new ‘connect’ to allow the sale of insurance products across their borders.  [Asian Insurance Review]

CCRIF dispels rumours
The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has ended speculation by announcing that it will remain parametric “for now” and confirming that it will soon release new products.  [Re-Insurance]

Masojada: PPL has a way to go yet
Bronek Masojada, Hiscox CEO and Placing Platform Ltd (PPL) Chairman, says PPL is “not perfect” and that making the software system “industrial strength” is his priority.  [Insurance Insider]

Lloyd’s takes back control
The decision to threaten poor performers with closure was a good one from Lloyd’s managers, and it sets a strong precedent for tackling syndicates’ other issues.  [Insurance Insider]

David Gittings to step down
LMA CEO David Gittings has announced his intention to leave the association after 12 years in his post.  [Insurance Insider]

Technology vs a society at work: who wins?
It’s a question we are increasingly considering as technology advances rapidly and begins to take over manual jobs. How long until the entire workforce could be replaced by our robotic superiors, and what on earth do we do when that happens?  [Financial Times]


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