Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 30 n° 340

Posts Tagged ‘insurance’

Newsweek Ranks Humana in Customer Service Among Health Insurance Companies

Posted by fidest press agency su giovedì, 29 novembre 2018

Leading health and well-being company Humana Inc. (NYSE: HUM) has been recognized by Newsweek as Best in Customer Service among health insurance companies in the magazine’s new “America’s Best Customer Service 2019” rankings.In compiling its study, Newsweek and global research firm Statista collected and analyzed surveys from more than 20,000 U.S. consumers who have used services, made purchases, or gathered information about services or products in the past three years. Company rankings then were determined based on feedback regarding the company’s Net Promoter Score – the likelihood of customer recommendation – as well as on five consumer evaluation criteria: Quality of Communication; Technical Competence; Range of Services; Customer Focus; and Accessibility.“Newsweek has always been committed to deep reporting about American workers, both the challenges they face and the transformations they achieve,” said Nancy Cooper, Newsweek Global Editor in Chief. “As we examined the larger, impersonal forces that are transforming retail, it seemed like a good time to recognize a more personal factor in business success: the ways in which many companies nurture their relationships with consumers.”In all, Newsweek ranked companies across 141 sectors, including service providers, brick and mortar retailers, and online retailers. Humana ranked atop all companies evaluated in the Health Insurance Services category.“We’re very proud to receive this top honor from Newsweek,” said Vicki Perryman, Humana Senior Vice President of Consumer and Provider Service and Solutions. “Humana’s customer service team is passionate about helping members achieve their best health, and dedicated to resolving inquiries as quickly as possible. We focus on personalized engagement with members and making a connection with them. They’re at the center of all we do.”

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Assured Guaranty Wraps Notes Issuance for Places for People

Posted by fidest press agency su martedì, 23 ottobre 2018

Assured Guaranty (Europe) plc (AGE) announced that it has guaranteed principal and interest payments on £75 million of notes issued by Places for People Treasury Plc. The unsecured note issuance is to refinance existing facilities and for general corporate purposes.The 20-year fixed-rate notes were issued on 17th October 2018 and took advantage of low long-term rates and were issued as a private placement to a group of South Korean investors, of which DB Life Insurance Co. Ltd was the largest single investor. As a result of the financial guarantee provided by AGE, the investors were able to benefit from AGE’s AA by S&P Global Ratings. Places for People is one of the largest placemaking and regeneration companies in the UK, with an underlying rating of A-/Baa1 from S&P and Moody’s respectively. The Group owns or manages over 198,000 homes, operates over 120 leisure facilities and provides services to more than 500,000 people. It is committed to creating places that work for everyone.

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eLocal to Acquire Ring Router and Expand Performance-Based Lead Generation into Insurance Industry

Posted by fidest press agency su mercoledì, 3 ottobre 2018

eLocal, a leading provider of performance-based advertising for local, regional and national service businesses, today announced they have reached agreement on principal terms to acquire Ring Router. The acquisition is expected to close in the immediate term. Based in Pasadena, CA, Ring Router provides performance-based advertising in the form of pay-per-call programs within multiple insurance verticals. For years, Ring Router has helped large, national insurance agencies as well as independent local agents drive high intent, highly qualified insurance phone calls.For more than 10 years, eLocal has offered a pay-per-call/pay-per-lead solution to businesses in the home services, legal, debt and addiction sectors. With the acquisition of Ring Router, eLocal will be able to deploy its best in class performance-based advertising solutions to insurance agencies nationwide. “We are excited to build upon Ring Router’s strong foundation within the insurance marketplace,” said Bruce Aronow, CEO at eLocal.Fueled by an infusion of growth capital from LLR Partners in late 2017, eLocal is focused on augmenting its organic growth through targeted acquisitions in its existing and new verticals. “As we looked to expand our reach into new verticals, Ring Router quickly emerged as the right partner, with their similar performance-based pricing model and such a strong reputation in the insurance industry,” added Aronow.

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Trireme Insurance Group Announces Acquisition of MGB Insurance Brokers Limited

Posted by fidest press agency su sabato, 8 settembre 2018

Trireme Insurance Group, the international subsidiary of U.S. Risk Insurance Group, LLC, is pleased to announce that it has acquired MGB Insurance Brokers Limited (MGB). MGB will operate alongside Trireme’s existing London brokers, Oxford Insurance Brokers and James Hampden International.Founded in 2001, and headquartered in London, MGB is a Lloyd’s broker specializing in placing professional indemnity risks for companies in the construction, consulting, accounting, insurance, and other industries.Randall Goss, Chairman of Trireme Insurance Group, said, “MGB’s approach to its partner brokers and clients is very similar to U.S. Risk’s. They value client service and building a long-term relationship by demonstrating their expert knowledge of their market segments. We are thrilled to have them as part of our group.” Nick Bender, Joint Managing Director of MGB, said, “Glenn Gostling and I are delighted to join the U.S. Risk family of companies. We believe their entrepreneurial culture matches up very well with ours, and we are excited to be able to both supplement our offering to current brokers and clients and to expand our client base through the U.S. Risk network of agents.”

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RGI premiata da Celent grazie a Pass_insurance

Posted by fidest press agency su mercoledì, 8 agosto 2018

Celent, una divisione di Oliver Wyman Group, ha premiato RGI, software vendor indipendente leader in Europa nella progettazione, sviluppo e distribuzione di core systems dedicati al mercato assicurativo, con il premio XCelent Customer Base assegnato alla piattaforma PASS_Insurance. Con questo riconoscimento PASS_Insurance emerge come una delle principali piattaforme in EMEA nel panorama dei Policy Administration System assicurativi. Celent afferma nel report che: “RGI ha dimostrato la capacità di accompagnare le Compagnie Assicurative nel processo di trasformazione digitale, di essere un importante punto di riferimento nel mondo assicurativo digitale e di continuare a crescere in EMEA”.”Questo riconoscimento conferma la lungimiranza degli investimenti che stiamo facendo per portare sui mercati Europei una piattaforma all’avanguardia che supporti le compagnie e i broker assicurativi nella trasformazione digitale del loro business. Con una raccolta premi annuale gestita su tutta la base Clienti di più di 21 miliardi di euro, PASS_Insurance ha i sui punti di forza nell’affidabilità, flessibilità e innovazione che consentono di gestire prodotti e processi di business e di assecondare i trend tecnologici digitali nel nuovo modello d’interazione e relazione con il Cliente finale. PASS_Insurance è la piattaforma che è stata scelta, tra le altre soluzioni, dalla maggior parte delle Compagnie Assicurative del ramo Danni in EMEA e, grazie ad essa, RGI ha digitalizzato il business di più di 100 Compagnie Assicurative e 300 Broker, ed è il riconoscimento di uno standard che si sta definendo in Europa”, ha dichiarato Vito Rocca, Chief Executive Officer di RGI Group.Celent analizza le soluzioni offerte dai software vendor al mercato assicurativo. Il report ABCD Vendor View di Celent traccia i vendor che hanno raggiunto il successo nel mercato assicurativo in EMEA grazie alle loro piattaforme digitali.Questo report, Europe Middle East, and Africa Policy Administration Systems 2018, fornisce una panoramica delle soluzioni digitali disponibili in Europa, Medio Oriente e Africa, per le Compagnie Assicurative che lavorano nel ramo Danni. Il report profila 38 piattaforme per il mercato assicurativo, fornendo una panoramica delle loro funzionalità, della base clienti, delle linee di business supportate, della tecnologia, dell’implementazione, dei prezzi e dell’assistenza.PASS_Insurance di RGI è una suite completa multi-company, multi-territory, multi-currency e multi-language per la gestione end to end del business assicurativo. PASS_Insurance offre un front-end innovativo web-based, PASS_Portal, per i suoi utenti e il supporto per i browser e tablet.Le referenze di PASS_insurance hanno apprezzato la conoscenza di RGI del settore assicurativo e la sua partnership con i loro clienti, nonché la sua tecnologia e completezza funzionale e, inoltre, diverse referenze considerano la progettazione e la configurazione del prodotto come vantaggi chiave.

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New Free Service from MedicareCompareUSA Provides Insight into Patient Insurance Purchasing Decisions

Posted by fidest press agency su sabato, 21 luglio 2018

Healthcare leaders across the country now have a fresh insight into their marketplace’s competitive landscape and greater clarity as to the health insurance purchasing decision of local Medicare recipients thanks to a new user-friendly data tool created by MedicareCompareUSA. The information is available free of charge to hospitals, health systems and physician organizations and can be accessed at medicarecompareusa.com/providers.In February the company introduced its popular and industry-leading mapping capability that displayed market penetration of Medicare Advantage plans by county in all 50 states, both in raw numbers and share of market. Now that report has been updated with the most current (April) data and augmented with Medicare Supplement enrollment data by state and insurer, including trends that have emerged county by county relative to senior enrollment. With this complete information in hand, healthcare executives now have a comprehensive picture of what their local population is purchasing relative to health insurance as well as shifts in local market share for Medicare Advantage and Medicare Supplement plans.Approximately 50 percent of Medicare-eligible patients purchase their own insurance with the balance either dual eligible (receiving both Medicare and Medicaid) or still covered under an employer plan. Given current trends such as the consolidations of health plans into mega-carriers, insurers purchasing physician groups, and the introduction of unique benefits by health plans trying to achieve product differentiation, providers have a greater interest than ever in knowing the market share penetration of plans in their community as well as current growth trends and shifting demographics. Plans don’t typically provide this information to the hospitals, but now through MedicareCompareUSA it is easily available.
The Medicare enrollment data is just one of many tools offered on the MedicareCompareUSA website to consumers, providers and insurance agents. For consumers, the site serves as a Medicare plan enrollment center by providing those on Medicare a one-stop shop to answer questions regarding Medicare options and connect with an agent who can help them enroll in the plan of their choice. For agents, brokers and providers, the site serves as an import resource in helping these audiences realign their strategies and adapt to the changing buying habits of patients. The site is also a vital resource to hospitals at the time of a “compelling event”—such as change in health plan contracts—in helping them retain desirable market share they have worked hard to build.

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PASS_Insurance 3.2, Policy Administration System per le Compagnie assicurative Vita e Danni

Posted by fidest press agency su venerdì, 20 luglio 2018

RGI, Software Vendor indipendente, leader in Europa nella trasformazione digitale delle Compagnie assicurative europee, annuncia oggi la nuova release di PASS_Insurance 3.2, Policy Administration System per le Compagnie assicurative Vita e Danni. Le principali novità della nuova versione di PASS_Insurance sono quindi relative alla compliance e alla business innovation, oltre ad alcune evoluzioni funzionali che consentono un approccio più smart al business assicurativo. Intelligenza artificiale, elaborazione del linguaggio naturale, advanced analytics e modelli predittivi basati sui Big Data sono i trend tecnologici che stanno influenzando enormemente il modo in cui una Compagnia interagirà in futuro sia con l’assicurato, sia con i propri partner commerciali. RGI ha integrato queste nuove tecnologie in PASS_Insurance tramite 3 nuovi moduli:
• Insurance Chatbot: un assistente virtuale assicurativo che consente sia all’assicurato (approccio B2C) sia agli intermediari (approccio B2B) di eseguire operazioni con la voce tramite il linguaggio naturale. RGI ha sviluppato questo chatbot assicurativo all’interno di un progetto di ricerca congiunto con alcune importanti Università italiane che sono specializzate in Intelligenza Artificiale linguaggio naturale.
• Recommender system: proporre al cliente il prodotto più adatto per lui nel momento giusto sta diventando sempre più un fattore critico di successo, per questo RGI ha integrato in PASS_Insurance un nuovo sistema di recommendation assicurativa, cioè un servizio che suggerisce al cliente alcuni prodotti e servizi ai quali potrebbe essere interessato, esattamente come avviene sulle piattaforme di e-commerce e sui social network. In questo modo la Compagnia può migliorare la conversione dei prospect in clienti anticipando le loro esigenze, e attivando iniziative mirate di Up e Cross Selling.
• PASS_Products Expert: il dipartimento di Ricerca&Sviluppo di RGI ha sviluppato una prima alpha version di un nuovo modulo che supporterà le Compagnie nella definizione del miglior premio assicurativo. Questa prima versione del modulo consente alle Compagnie di segmentare facilmente la propria clientela in fasce tariffarie ed eseguire velocemente simulazioni di pricing. Inoltre, utilizzando i dati di portafoglio e quelli provenienti dai sinistri pregressi, il sistema consente di definire il premio più adatto in base al cluster di clientela.
Lo scenario normativo europeo si sta dimostrando estremamente dinamico, con nuove leggi che sono entrate in vigore di recente o altre che lo saranno a breve. Alcune nuove normative, come il Regolamento Europeo sulla Protezione dei Dati (GDPR), riguardano tutti i settori produttivi, compreso quello assicurativo. Altre sono specifiche per il mercato assicurativo, come l’IDD (Insurance Distribution Directive) o la normativa sull’Attestato di Rischio Dinamico.

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A.M. Best Upgrades Issuer Credit Rating of The Union Labor Life Insurance Company

Posted by fidest press agency su venerdì, 6 luglio 2018

A.M. Best has upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “bbb+” from “bbb” and affirmed the Financial Strength Rating (FSR) of B++ (Good) of The Union Labor Life Insurance Company (ULL). The outlook of the Long-Term ICR has been revised to stable from positive, while the outlook of the FSR remains stable. ULL is a subsidiary of Ullico Inc., a holding company that offers insurance and financial products and services, with its common stock held by various labor organizations and their related benefit funds. Both companies are headquartered in the District of Columbia. The Credit Ratings (ratings) reflect ULL’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management. ULL’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), is considered to be at the strongest level, supported by its absolute growth of capital and surplus over the past few years. Additionally, the company maintains a relatively conservative investment allocation, though it produces yields that are somewhat lower than the industry average. While counterparty risk is considered to be minimal, A.M. Best notes that the company has increased its reliance on the cession of premiums over the past few years.ULL has reported favorable trends in profitability over the past few years, with its core medical stop loss business producing good metrics. Additionally, the company benefits from fee income generated by its J for Jobs and WorkAmerica separate accounts, which continue to report increasing assets under management and favorable yields relative to benchmarks. ULL continues to be a niche carrier in the Taft Hartley market, providing solutions that are valuable and innovative to its target union consumers. While ULL’s core business lines have been performing well, medical stop loss and the fees generated by a separate account have historically been the primarily drivers of profitability and growth, exposing the company to a moderate level of concentration risk. A.M. Best believes that the company could be challenged to report a sustainable level of profitable stop-loss premium growth going forward due to the highly competitive market for that product.

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Plymouth Rock Acquires MAPFRE Insurance Company of New York

Posted by fidest press agency su domenica, 17 giugno 2018

Plymouth Rock Assurance Corporation reached agreement today to continue its expansion into the New York State insurance market with the acquisition of MAPFRE Insurance Company of New York, subject to regulatory approvals. The transaction involves both personal auto and home insurance business in New York. Additionally, certain Plymouth Rock companies also acquired replacement carrier rights for auto and home insurance business in New Jersey from American Commerce Insurance Company (ACIC), a MAPFRE company.The acquisition follows Plymouth Rock Assurance Corporation’s announcement in April that it had entered the New York auto and home insurance market by purchasing 21st Century National Insurance Company. Plymouth Rock intends to offer auto and home insurance policies to new customers in New York later this year, pending regulatory approval. The company has a 35-year history of providing exceptional service and innovative products and features to its customers, including the Crashbusters® mobile claims vans, Door to Door Valet Claim Service® and its Pledge of Assurance®.“Plymouth Rock was founded on the idea that our customers should come first,” said Hal Belodoff, President of The Plymouth Rock Company. “As we continue to grow, which is evidenced by our recent entrance into New York and Pennsylvania, and further expansion in New Jersey, our mission stays the same. We focus on new ways to improve our customers’ experience when it comes to insurance.”

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A.M. Best to Present at the 2018 AAM Insurance Investment Management Conference

Posted by fidest press agency su domenica, 17 giugno 2018

A.M. Best will participate in the 2018 AAM Insurance Investment Management Conference, June 28-29, 2018, at the University of Chicago’s Gleacher Center, Chicago, IL.Stefan Holzberger, senior managing director and chief rating officer, and Andrea Keenan, senior managing director, industry relations, will hold a session, titled, “A.M. Best Presents: A 25-Year Insurance Industry Look Back & Look Ahead,” on Thursday, June 28, at 8:45 a.m. (CDT). In this session, attendees will receive an informed look at key issues affecting the insurance marketplace in the last 25 years, as well as critical insight to help anticipate and manage challenges in the future—all from A.M. Best’s unique perspective on the industry.A.M. Best provides Financial Strength, Long- and Short-Term Issuer Credit and Long- and Short-Term Issue Credit Ratings for insurers worldwide. Visit http://www.ambest.com/ratings for Best’s Credit Ratings and Best’s Credit Rating Methodology, which explains the rating process.

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AIG Names Caroline Krass Senior Vice President and General Counsel, General Insurance, and Deputy General Counsel, AIG

Posted by fidest press agency su giovedì, 8 febbraio 2018

Caroline KrassAmerican International Group, Inc. (NYSE:AIG) today announced that Caroline Krass will join the company as Senior Vice President and General Counsel, General Insurance, and Deputy General Counsel, AIG, effective in March 2018. Ms. Krass previously served as General Counsel for the Central Intelligence Agency (CIA) and is currently a partner in the Washington, D.C. law office of Gibson, Dunn & Crutcher. Ms. Krass will report to Peter Zaffino, Chief Executive Officer, General Insurance, and Lucy Fato, Executive Vice President and General Counsel, AIG. In this role, Ms. Krass will oversee the General Insurance global legal department and serve as a member of the Executive Leadership Team for that business unit. Mr. Zaffino said: “Caroline has a distinguished background in providing counsel on an extensive range of complex legal matters, both domestically and internationally. Her proven expertise in navigating some of the most challenging issues impacting global organizations will be a tremendous asset as we execute on the strategic priorities of General Insurance, position the company for future growth, and strive to better serve our clients.” Ms. Fato commented: “Caroline is an outstanding legal talent, with unique experience across a wide range of issues. Her impressive career in the public and private sectors will be a valuable addition to our world-class legal department, and we look forward to welcoming her to AIG.” Ms. Krass said: “I am excited to be joining Peter and Lucy and the rest of the dynamic leadership team that is being formed at AIG, particularly in General Insurance. Insurance plays a critical role across the globe helping to mitigate and respond to risk, and I look forward to building upon my experience to help position AIG for long-term success at this pivotal time.”Ms. Krass joins AIG from Gibson, Dunn & Crutcher where she is currently Chair of the National Security Practice Group. Previously, Ms. Krass was appointed General Counsel of the CIA by President Obama and served as the agency’s Chief Legal Officer and principal legal advisor to the CIA Director from 2014 to 2017. Prior to her role at the CIA, Ms. Krass was Acting Assistant Attorney General, and before that, Principal Deputy Assistant Attorney General, in the Office of Legal Counsel in the Department of Justice. From 2009 to 2010, she served as Special Assistant to the President for National Security Affairs and Deputy Legal Adviser to the National Security Council. She also served as a senior national security lawyer in the George W. Bush Administration, including as a prosecutor in the U.S. Attorney’s Office for the District of Columbia. Earlier in her career, Ms. Krass worked as an advisor to the General Counsel of the Treasury Department and as an attorney at the State Department.Ms. Krass currently serves as a member of the ABA Standing Committee on Law and National Security, as a member of the Advisory Board of the Georgetown Law Cybersecurity Law Institute, and as an advisor to two elements of the U.S. Intelligence Community. Ms. Krass has been awarded numerous honors for her exceptional contributions to national security while in government. She graduated Phi Beta Kappa from Stanford University with a B.A. in International Relations, and she received her J.D. from Yale Law School.American International Group, Inc. (AIG) is a leading global insurance organization. Founded in 1919, today AIG member companies provide a wide range of property casualty insurance, life insurance, retirement products, and other financial services to customers in more than 80 countries and jurisdictions. These diverse offerings include products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. (photo: caroline krass)

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A.M. Best Affirms Credit Ratings of The West of England Ship Owners Mutual Insurance Association

Posted by fidest press agency su sabato, 13 gennaio 2018

londonLondon. A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of The West of England Ship Owners Mutual Insurance Association (WoE or the Club) (Luxembourg). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect WoE’s balance sheet strength, which A.M. Best categorises as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management (ERM).WoE’s balance sheet strength is underpinned by risk-adjusted capitalisation being maintained at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Free reserves have grown by an annual compound rate of approximately 12% over the past five policy years (2013-2017), as a result of full retention of net surpluses. The Club’s ability to make additional calls on members provides some financial flexibility. However, making such unbudgeted calls is considered to have a negative impact on the club’s business profile, with calls made only in extreme circumstances.For the year ending February 2017, solid operating results were supported by an underwriting surplus well-above budget expectations, resulting in a combined ratio of 87.2% (2016: 83.6%). Volatility has historically resulted from changes in the market value of equities and foreign exchange movements. A.M. Best expects a small underwriting loss in the year-ending February 2018 and close-to-break even technical results in subsequent periods, in line with the Club’s performance targetThe Club has a niche business profile insuring ship-owners and charterers against third party liability, and benefits from the membership of the International Group of P&I Clubs. WoE has a well-diversified portfolio by type of vessel and a good geographical distribution of tonnage underwritten. Continued negative pressure on premium rates is likely to offset prospective growth derived from new vessels insured.The Club’s risk management capabilities are considered as appropriately aligned with its risk profile. In particular, the risk management framework benefits from the stringent controls introduced as part of Solvency II implementation.

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KBRA Publishes CMBS Research: “The Earthquake Insurance Divide”

Posted by fidest press agency su mercoledì, 3 gennaio 2018

londonLondon. Kroll Bond Rating Agency (KBRA) recently released a research report entitled “The Earthquake Insurance Divide.” In the aftermath of last year’s hurricane season, the topic of earthquake risk appeared to be on the minds of a number of California based CMBS investors. The concerns focused on the potential impact of a seismic event, whether large or small, on assets that may not be adequately insured, if at all.
CMBS, as well as other forms of commercial real estate (CRE) lending, typically require earthquake insurance if a property is located in seismic zone 3 or 4 and the asset’s probable maximum loss (PML) exceeds 20% of the replacement cost of the improvements. While insurance is generally required for these properties, others close to this threshold could still suffer moderate-to-significant damage in an earthquake, but fall under the insurance threshold.In our report, we identified approximately $30.6 billion (1,728 loans) of outstanding private label California conduit collateral securitized between 2010 and Year-to-Date November 2017. We then examined the PML characteristics of the population and provided various observations concerning the volume of loans that may be at higher risk of loss. In addition, we also included PML exposure maps exhibiting collateral that is below the threshold.
What we found was that the proportion of assets with PMLs that were between 18% and 20% is meaningful (10%) when viewed in the aggregate. If we were to expand the range to loans with PMLs from 15% to less than 18%, it would represent a quarter (25%) of the study population.Although the CRE finance industry has drawn a line in the sand with the greater than 20% threshold, transactions with a sizeable proportion of PMLs that are close to 20% may warrant a closer look by the marketplace, as they can pose additional risk to CMBS trusts. Uninsured assets with higher amounts of damage may be more susceptible to borrower defaults and potentially lead to transaction losses.

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A.M. Best Affirms Credit Ratings of Macau Insurance Company Limited

Posted by fidest press agency su lunedì, 4 settembre 2017

macauMacau. A.M. Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Macau Insurance Company Limited (MIC) (Macau). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect MIC’s sound risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio (BCAR), and stable underwriting performance for fiscal-year 2016. MIC continues to maintain a strong balance sheet, driven by a conservative level of net premium leverage, sound liquidity, a prudent investment strategy and a comprehensive reinsurance program.Offsetting rating factors include MIC’s underwriting profit margin being low in certain lines of business such as motor and employee compensation in a market with increased competition and higher claims inflation. In addition, volatility in revaluations of MIC’s investment properties also has negatively impacted the company’s overall investment performance in the past two years.Positive rating actions could occur if MIC demonstrates consistent and sustained improvement in its business profile and underwriting performance, coupled with a strong level of risk-adjusted capitalization. Negative rating actions could occur if MIC’s operating performance deteriorates, leading to a decline in its risk-adjusted capitalization level.Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.

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The ninth edition of the Julio Castelo Matrán International Insurance Award

Posted by fidest press agency su mercoledì, 2 agosto 2017

madridMadrid. Fundación MAPFRE is opening its call for entries for the ninth edition of the Julio Castelo Matrán International Insurance Award. The winner of the biannual award will receive a cash prize of €30,000. The award will be made in recognition of scientific research work or innovation projects of significant importance on matters related to insurance and social protection.This award is open to individuals or institutions that have conducted scientific research work or developed or innovation projects of significant importance, whose results have led to the expansion of insurance activity in society, and contributed to economic stability through insurance and/or social protection.Applications and supporting documentation can be submitted in English, Spanish or Portuguese, up to March 2018, in line with the terms and conditions of the awards, which are available at http://www.fundacionmapfre.org. This award pays tribute to Julio Castelo Matrán, former Chairman and CEO of MAPFRE, one of the driving forces behind the growth and development of the company.

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DIFC, DIEDC and UAE Insurance Authority inaugurate 11th annual World Takaful Conference

Posted by fidest press agency su martedì, 12 aprile 2016

World Takaful Conference1Dubai, UAE. This morning, the 11th annual World Takaful Conference (WTC) played host to powerful keynote addresses to a packed audience of over 300 industry leaders from the Middle East, East Asia, Europe and Africa. Convened by Middle East Global Advisors and in strategic partnership with the Dubai International Financial Centre (DIFC) Authority, WTC is held under the theme “Prudent Practices for Global Growth” and considered to be the world’s most powerful Takaful gathering.The growth of the Takaful industry, exhibiting an impressive double digit growth whilst remaining underdeveloped as compared to the thriving Islamic finance industry, is paramount to strengthening the overall Islamic economy.As such, it was very fitting that the opening keynote was delivered by Abdulla Mohammed Al Awar, Chief Executive Officer, Dubai Islamic Economy Development Centre (DIEDC), who spoke on the linkages between Takaful growth and the overall Islamic economy: “Takaful is a key pillar within the Islamic ecosystem. Although a quantum leap cannot be expected in the Takaful Industry within a year, there have been a lot of strategic developments which will pave way for the growth of Takaful within the Islamic finance landscape.” Following suite was H.E. Ebrahim Obaid Al Zaabi, Director General of the UAE Insurance Authority, who spoke on the UAE regulatory space: “The Insurance Authority of UAE has played a pivotal role in setting out key rules to ensure stability of the insurance industry. Â Adhering to the regulatory requirements – ranging from adjusting the internal systems to appointing internal auditors and actuaries by 2018 – will be challenging for the Insurance and Takaful Industry but will lead to its growth and stability.”Representing the conference’s Strategic Partner, Salmaan Jaffrey, Chief Business Development Officer at the Dubai International Financial Centre (DIFC), spoke on the critical role of the DIFC as a global platform for the ReTakaful industry to service the economies of the Middle East, Africa and South Asian regions. He mentioned, “Today, the Islamic insurance industry has gained wider acceptance and appreciation transcending the boundaries of Muslim-based economies. This growing momentum is expected to continue and expand its reach into emerging markets in the MEASA region. Our goal as a leading financial hub is to create a dynamic Islamic financial system that will support this growth and contribute to the overall development of our economy.
An ideal platform to showcase the vast potential of Takaful and Re-takaful, this year’s World Takaful Conference was a great success. I am confident that our collective efforts to deliberate new solutions and innovations for the long-term development of Islamic insurance will transform the industry into a vibrant and resilient space.”
Dave Matcham, Member of Executive Committee, Islamic Insurance Association of London (IIAL) spoke on London as the gateway to Takaful in the West: “New horizons for the Takaful market lie ahead in the international market space. The establishment of the Islamic Insurance Association of London (IIAL) speaks of a large untapped market for Islamic insurance in the west. Whilst, IIAL is taking steps so that Islamic insurance is recognized in the UK, the main agenda is to work on four points, namely: innovation, talent development, promotion and modernization.” Following the keynote addresses was the launch of the groundbreaking “Finance Forward World Takaful Report 2016”. Produced by Middle East Global Advisors, and with contributions from Takaful Outsource, the report provides a comprehensive overview of the state of the global Takaful market. Sahar Kazranian, Acting CEO of Middle East Global Advisors, shared that the Report is based on expert analysis and feedback from the industry’s leading practitioners: “Our aim is to shed light on the opportunities and challenges that lie ahead for the Takaful market. The Report provides a way forward to addressing various challenges ranging from price wars and pricing regulation, to closing the gap of human capital.”She concluded: “We hope that this proves instrumental in helping the Takaful leader navigate the regulatory, economic, demographical and technological landscape in these uncertain and sometimes volatile economic times.” The WTC audience comprised of high profile guests and dignitaries from Dubai Islamic Economy Development Centre, Dubai International Financial Centre, Islamic Insurance Association of London, Insurance Authority UAE, PwC, Moody’s, EY, Swiss Re, Munich Re, Noor Takaful, Watania, Emirates RE and many more organisations. To find out more about WTC, visit http://www.wtc16.com. (photo: World Takaful Conference1)

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Ovum: Insurance industry growth to fuel IT investment in 2016

Posted by fidest press agency su giovedì, 11 febbraio 2016

melbourneMelbourne. As premium growth in most markets returned to positive growth during 2015, many insurers have some confidence to seek ways in which they can use IT to grow their business, according to a new report* from global analyst firm Ovum. This confidence however is against a backdrop of accelerating demographic and customer change, which is likely to be another key driver of investment.Ovum believes the global insurance industry is responding to these changing needs. This is demonstrated by the strong expansion in IT spend being seen in 2015 which looks to be continued in 2016. Ovum’s research shows that of the 389 insurance carriers surveyed as part of the ICT Enterprise Insight (ICTEI) program during Q3 of 2015, 62% are planning to grow IT budgets in 2016 and only 11% are looking to cut expenditure. This compares to 47% that grew and 17% that cut IT budgets in 2014/15. When it comes to investment, digital channels remains the top area for insurers. However, the significant majority of insurers will be increasing budgets across a broad range of functional areas with no single activity completely dominating spend. This reflects the complex set of priorities that IT groups are being asked to meet by the wider business, simultaneously addressing revenue growth, operational efficiency and regulatory compliance.
Charles Juniper, principal insurance analyst, Ovum commented: “All regional markets will see growth in IT budgets in 2016, led by insurers in Latin America. Most encouraging is the news that insurance premiums are showing positive growth in Europe – providing insurers in this region with a platform on which to grow their IT capabilities. There is increased focus on operational efficiency across the board, with fraud management and underwriting systems emerging as significant areas of IT investment. ” He concludes: “The insurance industry, particularly in Europe, has had a long struggle to maintain profit margins since the financial crisis. Whilst a lot of the investment we will see is insurers responding to changing market pressures, such as changing customer demographics, there is a big opportunity here for IT innovation in the industry. Investment in Internet of Things (IOT) managed platforms, and investing in analytics at the point of use in particular, look like strong areas in which proactive insurers can achieve strong positive differentiation from competitors.
Ovum is a leading global technology research and advisory firm. Through its 180 analysts worldwide it offers expert analysis and strategic insight across the IT, telecoms, and media industries. Founded in 1985, Ovum has one of the most experienced analyst teams in the industry and is a respected source of guidance for technology business leaders, CIOs, vendors, service providers, and regulators looking for comprehensive, accurate, and insightful market data, research, and consulting. With 23 offices across six continents, Ovum offers a truly global perspective on technology and media markets and provides thousands of clients with insight including workflow tools, forecasts, surveys, market assessments, technology audits, and opinion. Ovum is a division of Informa plc, one of the leading business and academic publishing and event organisers globally, headquartered in London. Informa is quoted on the London Stock Exchange.

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المنتدى الدولي للتمويل الإسلامي يتناول التحديات التنظيمية لتسريع عجلة تطوير قطاع التمويل الإسلامي في أفريقيا

Posted by fidest press agency su martedì, 19 gennaio 2016

finance
منتدى أفريقيا التاريخي يستضيف أهم صانعي السياسات لتوجيه المناقشات بشأن اللوائح التنظيمية التي تحقق إدماج التمويل الإسلامي في النظام المالي وإدراك فرص التمويل الإسلامي
الخرطوم، السودان – 18 يناير 2015: سيكون المنتدى الدولي للتمويل الإسلامي في دورته الثانية المقبلة (المنتدى الدولي للتمويل الإسلامي 2016) بمثابة منصة رئيسية للمناقشات بالغة الأهمية بشأن تطوير تنظيم قطاع التمويل الإسلامي في قارة أفريقيا والرقابة عليه على نحو فعال. ويرى الكثيرون أن هذه المسألة لا غنى عنها للمساعدة على ازدهار قطاع التمويل الإسلامي في أفريقيا ووضع هذا القطاع على قدم المساواة مع قطاع التمويل التقليدي.
وتأوي البلدان الأفريقية نحو ربع السكان المسلمين في العالم، وقد حققت إنجازات مختلفة في الوقت الحالي فيما يتعلق بإعداد إطار قانوني وتنظيمي لتمكين ممارسات الخدمات المصرفية الإسلامية ومنتجاتها ومؤسساتها. ولا يوجد في الوقت الحالي سوى القليل من البلدان التي لديها لوائح تنظيمية تيسّر أنشطة التمويل الإسلامي بشكل كامل. والسودان، وهو البلد المضيف للمنتدى الدولي للتمويل الإسلامي 2016، هو أحد البلدين الوحيدين في العالم اللذين يتوافق نظامهما المصرفي مع الشريعة بشكل كامل.
ووقعت المؤسسة الإسلامية لتنمية القطاع الخاص، وهي ذراع القطاع الخاص التابعة لمجموعة البنك الإسلامي للتنمية، في سبتمبر 2015 اتفاقية مع الهيئة التنظيمية الإقليمية للسوق المالية التابعة للاتحاد الاقتصادي والنقدي لغرب أفريقيا. وتهدف الشراكة إلى حشد موارد الدول الأعضاء في الاتحاد والقطاع الخاص على المدى الطويل، وخاصة المشروعات الصغيرة والمتوسطة. ويشمل أحد أهم مجالات التعاون تبادل المعلومات التي من شأنها المساعدة في إعداد الإطار التنظيمي لمساعدة التمويل الإسلامي على الازدهار في منطقة غرب أفريقيا.
وسلط تقرير صادر عن المؤسسة الإسلامية لتنمية القطاع الخاص في سبتمبر 2015 تحت اسم “التمويل الإسلامي في أفريقيا: مستقبل واعد” الضوء على فرص النمو الهائلة للتمويل الإسلامي في أفريقيا. وتشمل التحديات التنظيمية المحددة في التقرير عدم الاتساق التنظيمي ونقص الوعي والمعرفة المالية من جانب العديد من المستخدمين النهائيين والعملاء ونقص رأس المال البشري المؤهل والحاجة إلى وجود بيئة أعمال تدعم نمو التمويل الإسلامي.
وتعمل أغلب البلدان الأفريقية بنظام مصرفي مزدوج في ظل لوائح تنظيمية مستقلة للخدمات المصرفية الإسلامية. وتشمل البلدان التي أصدرت صكوكاً في عام 2015 جامبيا (230 مليون دولار أمريكي) والسودان (70 مليون دولار أمريكي) والسنغال (210 ملايين دولار أمريكي) ونيجيريا (700 مليون دولار أمريكي) وجنوب أفريقيا (500 مليون دولار أمريكي). وأعلنت عدة بلدان مثل تونس ومصر والمغرب في ذات الوقت اهتمامها بالاستفادة من سوق الصكوك لتمويل البنية التحتية، وهي الآن في طور وضع اللمسات الأخيرة على أطرها القانونية لتشجيع إصدار الصكوك.
ولازال هناك الكثير من العمل أمام افريقيا لتكون على قدم المساواة مع البلدان المتقدمة في التمويل الإسلامي مثل البحرين وماليزيا، وهناك فرصة كبيرة في المنتدى الدولي للتمويل الإسلامي 2016 الذي سيُعقد في شهر فبراير لإجراء مناقشات بشأن أفضل الممارسات للمساعدة في تهيئة المجال في أفريقيا على مستوى القارة والمستوى العالمي.
والمنتدى الدولي للتمويل الإسلامي هو مبادرة مبتكرة من جانب شركة الشرق الأوسط للاستشارات العالمية، وهي منصة لتحليل المعلومات تخدم الأسواق الناشئة، وبنك الخرطوم، وهو أحد أكبر البنوك في أفريقيا والذي أسس مؤخراً بي أو كي انترناشونال في البحرين في إطار جهوده لبناء ممر بين السودان ومجلس التعاون الخليجي.
وسيُعقد المنتدى الدولي للتمويل الإسلامي في يومي 9 و10 فبراير 2016 في فندق روتانا السلام. ولمزيد من التفاصيل بشأن المنتدى، يُرجى زيارة http://www.IFIF2016.com.
تم تدشينها في عام 1993، إذ تقوم الشرق الأوسط العالمية للإستشارات بربط الأسواق من خلال تقديم ذكية وتنفيذ الاستراتيجيات. وتعتبر الشرق الأوسط العالمية للاستشارات بوابة ربط ومنصة تقديم تقارير حول الفرص المتوفرة في الأسواق التي تشهد نمو سريع بما في ذلك المغرب، وغرب أندونيسيا في الشرق بالإضافة إلى الشرق المتوسط وشمال أفريقيا، وشرق آسيا. وتفتخر الشرق الأوسط العالمية بوجودها في قلب هذه الأسواق المتنوعة منذ أكثر من 22 عاماً.
للمزيد من المعلومات الرجاء زيارة meglobaladvisors.com.
نبذة عن المنتدى الدولي للتمويل الإسلامي
المنتدى الدولي للتمويل الإسلامي هو منصة فريدة تجمع الجهات الرائدة العالمية لمناقشة الفرص الهائلة التي يقدمها قطاع التمويل الإسلامي إلى الاقتصادات النامية في القارة الأفريقية. ويهدف المنتدى إلى إقامة جسور بين أفريقيا والأسواق الرئيسية للتمويل الإسلامي للمساعدة في بناء قدرات التمويل الإسلامي في أفريقيا.

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ZURICH: Davos_World Economic Forum

Posted by fidest press agency su sabato, 16 gennaio 2016

Zurich Insurance Group ha contribuito allo sviluppo del “Global Risks Report 2016” a cura del World Economic Forum presentato oggi a Davos, sulle probabilità, il potenziale impatto e le interconnessioni dei rischi globali nel prossimo decennio.Cecilia Reyes, Chief Risk Officer del Zurich Insurance Group, ha dichiarato: “Il cambiamento climatico sta acuendo più rischi che mai in termini di crisi idriche, scarsità di prodotti alimentari, ridotta crescita economica, debole coesione sociale e accresciuti rischi di sicurezza. Nel frattempo, a causa dell’instabilità geopolitica, le imprese stanno affrontando cancellazioni di progetti, revoche di licenze, interruzioni della produzione, danni ai beni aziendali e limitazioni dei movimenti transfrontalieri di capitali. I conflitti politici, a loro volta, rendono ancora più insormontabile la sfida del cambiamento climatico – riducendo i potenziali per una cooperazione politica, nonché deviando risorse, innovazioni e tempo dalla resilienza e prevenzione del cambiamento climatico”.
· Il rischio con il maggior potenziale di impatto nel 2016 è la carenza di interventi atti a mitigare il cambiamento climatico e il rispettivo adattamento. Dalla prima edizione del Report nel 2006, è la prima volta che un rischio ambientale conquista il primo posto in classifica.
· Il fallimento delle politiche di mitigazione e adattamento al cambiamento climatico ha un potenziale negativo maggiore rispetto alle armi di distruzione di massa (2° posto), alle crisi idriche (3° posto), alle migrazioni involontarie su larga scala (4° posto) e ai forti shock dei prezzi delle fonti energetiche (5° posto).
750 esperti hanno valutato 29 diversi rischi globali, esaminando il loro impatto e la loro probabilità di verificarsi nei prossimi dieci anni.Per la prima volta in 11 anni il rapporto presenta un panorama di rischio così diversificato. Nella top five dei rischi con il maggior potenziale di impatto sono rappresentate ben quattro diverse categorie: ambientale, geopolitica, sociale ed economica.

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GCC insurance industry requires regulatory ‘passporting’ to enable scale and profitability

Posted by fidest press agency su giovedì, 14 gennaio 2016

Manama, Kingdom of Bahrain. The conveners of the longest running Insurance platform for the Middle East – the Middle East Insurance Forum (MEIF) – announced that a groundbreaking report on the region’s insurance industry will be launched exclusively at MEIF 2016. Middle East Global Advisors, an intelligence platform serving markets in the Middle East North Africa Southeast Asia (MENASEA) region, joined hands with the Central Bank of Bahrain (CBB) in a preManama, Bahrainss conference to share some of the insights of the much-awaited “Finance Forward Insurance Outlook Report 2016”.The report aims to help leaders in the insurance industry make key strategic decisions and capitalize on emerging opportunities. The host of the press conference, Mr. Abdul Rahman Mohammed Al Baker, Executive Director of Financial Institutions Supervision at the CBB, said: “We are delighted to announce that the 12thannual MEIF will serve a launching platform for such an important industry report. MEIF 2016 is set at an opportune time at the start of the year to really shape the future trajectory of the Middle East’s insurance industry.”Present from Middle East Global Advisors was its Vice-Chairman and CEO, Dr. Sayd Farook, who set the macroeconomic scene for the Finance Forward report: “The financial services industry is facing an uncertain global economy. Low oil prices, rising interest rates, a strong dollar and concerns about emerging market growth will most certainly weigh on financial institutions, banks as well as insurers in the Middle East.”Dr. Farook continued by conveying some of the results from the report’s survey, which is ongoing: “Budget cuts impacting infrastructure spending across the Middle East constitute a major concern for many survey participants, especially given that commercial lines have been buoyed by large projects. In 2014, growth in commercial lines grew just 6.6% (compared to 19.6% for personal lines) which may account for survey respondents’ more optimistic outlook for medium-term premium growth in personal lines.”Dr. Farook added: “Many respondents are looking into online channels, particularly for personal lines, and into expanding outreach to underinsured consumers to support their future growth – especially digital strategies. Yet a major hurdle is the fact that regulations are uneven across the Middle East, and are lacking in some critical areas.”Mr. Al Baker indicated: “The Middle East insurance industry has grown considerably; however, it still lags behind other emerging and frontier markets in the overall penetration. Instead of encouraging competition between insurance companies and takaful operators for a share of a small market, we need the entire sector to find strategies to make the market grow more rapidly to support consolidation and create a more robust capital base.”

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