Ireland – a recognized center of excellence within the global insurance industry. At the 2015 European Insurance Forum (EIF), Dublin International Insurance and Management Association (DIMA) CEO Sarah Goddard speaks with WRIN.tv about the biggest issues facing the industry, the growth of the Irish insurance market and the 2015 European Insurance Forum. With Solvency II implementation scheduled for 1 January 2016, Ms. Goddard says preparations are among the many hot topics at … Read More
CONNecting with Conning: Insurance portfolio concerns and investment options. Continued low interest rates and bond yields are presenting significant challenges for insurers. Here to discuss insurance investment options is Michael Haylon, a managing director at Conning. Low interest rates and bond yields have created major challenges for many insurance companies, says Mr. Haylon. “Many companies built increases in bond yields into their forecasts and it just hasn’t happened…the kinds … Read More
Underfunded Risk Corridors are causing uncertainty and potential volatility in Health Insurance market. The Affordable Care Act (ACA) mandated that the Department of Health and Human Services (HHS) establish “Risk Corridors” to buffer insurers against high losses, keep premiums affordable and less volatile, and encourage participation in the health insurance exchanges. Deep Banerjee, a Director with S&P Insurance Ratings, joins WRIN.tv to discuss S&P’s recent report suggesting the Risk Corridor Program could actually … Read More
Managing “dynamic” geopolitical risks…Marsh Global Risk and Specialties President advises. World Risk and Insurance News begins its coverage of the Annual RIMS Conference and Exhibition from New Orleans. Here, John Drzik, President of Marsh Global Risk and Specialties, provides here a macro view of the geopolitical risks affecting international businesses, the common mistakes risk managers make in addressing these risk. Mr. Drzik references the work Marsh does with the World Economic Forum, … Read More
Insurance industry M&A activity continues to increase, across sectors, according to A.M. Best Mergers and Acquisition activity shows no signs of slowing down. Here Assistant Vice President William Pargeans and Vice President Robert DeRose discuss the motivations of insurers, across sectors, to seek out mergers and acquisitions. According to Mr. Pargeans the life insurance industry is very mature and the only way for insurers to grow in this sector is to buy blocks … Read More
III’s Hartwig on broke NFIP, Citizen’s withdrawal, TRIA grey area, cyber and drones Dr. Robert Hartwig, President of the insurance Information Institute (III) joins WRIN.tv for a broad discussion about the U.S. National Flood Insurance Program, Florida Citizen’s withdrawal from the hurricane insurance market, TRIA and cyberattacks and drone liability: Broke National Flood Program an entitlement mostly for coastal dwellers Florida Citizen’s withdrawal good news for insurers, and reinsurers State sponsored cyber-attacks fall … Read More
Interest rate sensitive insurers and reinsurers face many hurdles to profitability, according to S&P Patricia Kwan, a Director at S&P Insurance Ratings, joins WRIN.tv to discuss the hurdles to revenue and profitability growth insurers face, outlined in a recent report by S&P entitled “Pursuing Global Insurance Profitability Amid Tempered Economic Growth.” According to Ms. Kwan, the most common headwinds impacting insurers’ quest for profitability are “interest rates, excess supply of capital, and tighter capital … Read More
In a world “Awash in Capital”, investors turn to reinsurance in search for yield A report published by the Insurance Information Institute (III), suggests the world is “Awash in Capital.” III President Robert Hartwig joins WRIN.tv to discuss the impact of capital that has turned to the insurance and reinsurance sector in a search for yield. Dr. Hartwig says the report looked at cash holdings of companies worldwide and found that “the world is … Read More
Government programs and medical cost trends support “stable” outlook for Health insurers – A.M. Best In highlights from the First Monday series, A.M. Best Assistant Vice President Joseph Zazzera and Senior Financial Analyst Bridget Maehr discuss how health insurance carriers are navigating health reform provisions that began in 2014, and the sector’s “stable” outlook. More than 11 million people have selected health plans through the Affordable Care Act (ACA) in 2015, 3.1million more than in … Read More
Mixed Outlook for U.S. Property/Casualty Industry – A.M. Best There is a mixed outlook for the U.S. Property and Casualty industry according to A.M. Best. While the industry as a whole is on its second straight year to a strong performance competitive pressure and emerging risks could impact insurers bottom lines. Here, Group Vice President Anthony Diodato discusses the reasons for concern for the U.S. Property and Casualty Industry … Read More
Monday Morning Headlines: March 9, 2015 WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: IAIS Task Force on cybersecurity includes NAIC and FIO, not the Fed Courts give FSOC to respond to MetLife SIFI challenge XL CEO says size matters… Aon Benfield CEO sees broker role … Read More
More capital and comfort with modeling spurring growth in ILS – S&P WRIN.tv reports from SIFMA’s Insurance and Risk Linked Securities (IRLS) Conference in New York, where the discussion centered on the record-setting insurance linked securities (ILS) and catastrophe bond markets. Here, Standard and Poor’s Director Gary Martucci discusses the drivers of growth in alternative capital and if it will continue. According to Mr. Martucci, he does expect 2015 to be an … Read More
III’s Hartwig on his 2015 Outlook on Commercial P&C, Personal Lines, Agents/Brokers, Reinsurance Dr. Robert Hartwig, President of the Insurance Information Institute (III), shares his outlook on key segments of the insurance industry, including the commercial P&C market, personal lines, agents and brokers, and reinsurance. Among the highlights: Economy, jobs, infrastructure investment hitting Commercial P&C market Millennials postponing household formation affecting Personal Lines Insurance agents/brokers still consolidating and attracting next gen Will return … Read More
III’s Bob Hartwig tackles the economy, cyber risk and industry growth opportunities Dr. Robert Hartwig, President of the Insurance Information Institute (III), joins WRIN.tv for a broad discussion on the impact of economic conditions on the insurance industry, cyber risk, and growth opportunities. Among the highlights: Economic tailwinds and interest rate headwinds are affecting insurers It’s “early days” of rapidly evolving cyber risk and cyber insurance Is “risk management” at risk with growth … Read More
Monetary policy is big story in 2015, as US economy grows – rest of world eases In a recent edition of A. M. Best’s First Monday series, host John Weber welcomed Jim Gillard, VP of Credit Rating Criteria, to discuss how U.S. economic growth is highlighting the divergence between the United States and the rest of the world. Mr. Gillard estimates that U.S. GDP will grow an average 3% in 2015, which will stimulate job growth … Read More
A.M. Best negative on Russian market due to oil, economy, sanctions, lack of quality. In a recent edition of First Monday, host John Weber welcomed Deniese Imoukhuede, Associate Director of Analytics, to discuss the Russian market. With crude oil prices collapsed and the Ruble valuation low, the Central Bank of Russia raised interest rates from 10.5% to 17% in December 2014. And with continuing economic sanctions against Russia putting further pressure on the economy, … Read More
WRIN.tv Week in Review: February 2 – 6, 2015 Last week on World Risk and Insurance News…. Monday Morning Headlines from SNL Insurance featured NAIC’s IT guidance for Cybersecurity; Florida’s Governor seeking advice on new insurance commissioner; the PartnerRe/AXIS Capital merger is expected to create the 5th largest P&C reinsurer, ACE’s CEO commenting on consolidation in reinsurance , Progressive’s declining agency auto business, and Travelers’ ascent. Retired General Keith … Read More
CEO Panel discusses auto insurance outlook, tech investments & disciplined underwriting for better ROEs Through a special arrangement with ACORD, WRIN.tv offers a glimpse of what went on during the CEO Panel that took place during the Joint Industry Forum in New York. On the panel were Paula Downey from California State Auto, Jaime Tamayo from MAPFRE U.S.A., Christopher Swift from The Hartford, Steven Linkous from The Harford Mutual Insurance Companies, Thomas Lawson from … Read More
Expert Panel on terror risk, commercial lines, reinsurance and auto insurance Through a special arrangement with ACORD, WRIN.tv offers a glimpse of what went on during the Expert Panel that took place during the Joint Industry Forum in New York. On the panel were V.J. Dowling from Dowling & Partners, Thomas Leonardi from Evercore Partners, Matthew Mosher from A.M. Best, Howard Kunreuther from the Wharton School, Randy Kunreuther from the law … Read More
Stable outlook for Personal Lines carriers – A.M. Best In a recent edition of A.M. Best’s First Monday series, Vice President Rich Attanasio discusses the rationale for a “Stable” outlook for the Personal Lines segment. According to Mr. Attanasio, A/M/ Best’s stable outlook for Personal Lines “reflects robust risk adjusted capitalization, consistent performance in the auto line…as well as improving trends on the property line.“ In addition, insurers are using more … Read More
