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COVID-19 to weigh heaviest on life and health carriers: GlobalData
28th April 2020
Analysts at data and analytics firm GlobalData believe that the COVID-19 pandemic will put more strain on the life and health insurance sectors in the US than their property and casualty counterparts. GlobalData said this disparity is partly due to the nature of the healthcare system in the country. Life and health ... Read the full article
UK trade credit package a boost for insurers, says GlobalData
22nd April 2020
Data and analytics firm GlobalData has said that the UK re/insurance industry could be boosted if the government decides to implement a trade credit reinsurance backstop scheme for the duration of the coronavirus (COVID-19) pandemic. Sources said earlier this week that insurers are discussing a new scheme with the Treasury ... Read the full article
Australia’s insurance industry poised for slowdown: GlobalData
22nd April 2020
Data and analytics company GlobalData says Australia’s insurance industry is poised for decelerated growth over the next five years due to the challenging business environment and coronavirus outbreak. As a result, the country’s insurance industry is projected to decline by 1.3% from US$80.5 billion in 2019 to US$77.5 billion in 2020. An ... Read the full article
COVID-19 to compound South Korea’s life insurance woes: GlobalData
20th April 2020
South Korea’s life insurance market is set to decline by 1.2% in 2020, as the ongoing coronavirus pandemic compounding pre-existing pressure from stagnating sales, according to GlobalData analysis. Deblina Mitra, an insurance analyst at GlobalData, explained that lockdown restrictions due to coronavirus will further prevent new sales through insurance agents and, ... Read the full article
Insurance M&A in Jan 2020 totalled $1.3bn: GlobalData
2nd April 2020
Total insurance industry mergers and acquisition deals in January 2020 hit $1.3 billion according to GlobalData, down 91.3% from the previous month. In terms of volumes, North America was the top region for insurance M&A deals globally, followed by Europe and then Asia-Pacific. The top country in terms of M&A deals activity ... Read the full article
India’s reinsurance market to reach $7.8bn by 2024, says GlobalData
27th March 2020
As India’s reinsurance business continues to achieve impressive growth, recent regulatory changes by the Insurance Regulatory and Development Authority of India are set to encourage offshore companies to set up operations in the country Data analytics company GlobalData believes these amendments will not only bring a level playing field for all ... Read the full article
US insurance industry M&A deals total $11.43bn in Q4: GlobalData
23rd March 2020
Insurance industry merger and acquisition deals announced in the fourth quarter of 2019 totalled $11.43 billion in the US, according to GlobalData’s deals database. This value represents a 174.03% increase over the previous quarter and a rise of 355.3% when compared with the last four-quarter average of $2.51 billion. The US held ... Read the full article
Coronavirus attacks show UK cyber vulnerabilities: GlobalData
12th March 2020
Data and analytics company GlobalData has reported that small to medium enterprises (SMEs) in the UK remain underinsured and vulnerable to cyber attacks. The comments come amid a surge of coronavirus-related cyber attacks, which UK police estimate to have caused £800,000 of total losses from 21 separate cases in February alone. The ... Read the full article
North America & UK deal activity down in Q4: GlobalData
6th March 2020
Re/insurance industry deal activity was down by 8.7% and 6.5% in North America and the UK, respectively, during the fourth quarter of 2019, according to data and analytics firm GlobalData. A total of 157 deals worth $13.13bn were announced for North America Q4 2019, the firm found, versus a four-quarter average ... Read the full article
Re/insurance industry deals total $14.31bn in December: GlobalData
29th January 2020
Global re/insurance industry deals during the month of December 2019 totalled $14.31 billion, according to data and analytics firm GlobalData. This marked an increase of 233.5% over the previous month and a rise of 224.4% when compared with the last 12-month average of $4.41 billion. In terms of number of deals, GlobalData ... Read the full article
China’s life insurance market “wakes up” to foreign insurers: GlobalData
30th December 2019
The liberalisation of China’s insurance industry is set to offer vast opportunities to foreign life insurers, GlobalData analysts say. Although the share of foreign insurers is low, GlobalData expects the Chinese life insurance market grow to a compound annual growth rate of 9.6% from $316.6 billion in 2018, to $484 billion ... Read the full article
US insurance M&A deals hit $4.17bn in Q3, says GlobalData
12th December 2019
At $4.17 billion, insurance industry mergers & acquisition deals in the US during the third quarter of 2019 spiked 51.2% against the previous quarter, according to GlobalData’s deal database. This figure represents a 34.2% rise when compared with the last four-quarter average of $3.11 billion. The data and analytics firm explains that the ... Read the full article
Global insurance industry M&A activity up in Q3: GlobalData
11th December 2019
In the third-quarter of 2019, total insurance industry merger and acquisition (M&A) deals worth $15.17 billion were announced around the world, which is up 51% on the previous quarter, according to GlobalData. The firm's deals database reveals that although the value of insurance industry deals in Q3 2019 increased on the ... Read the full article
Thailand general insurance market to hit $9.14bn by 2023: GlobalData
29th November 2019
A report from data and analytics firm GlobalData has projected the general insurance business in Thailand to grow from $7.7 billion in 2018 to $9.1 billion in 2023. GlobalData notes how gross written premium in the country’s general insurance market registered a compound annual growth rate of 3.1% between 2014 and ... Read the full article
Uber licence loss to impact insurtech sector: GlobalData
25th November 2019
The loss of Uber’s licence to operate in London could have a damaging impact on insurtech firms that have developed products for the ride sharing market, according to data and analytics firm GlobalData. Transport for London (TFL) announced today that Uber’s will not be granted a new licence to operate in ... Read the full article