Back to work after the Christmas break and it’s non-stop insurance action
So much for easing gently into the new year. After getting to grips with Equity Red Star’s censure by Lloyd’s on Tuesday, the newsdesk has to tackle stories about departures, results, renewals and storm damage. It seems several senior execs decided to start the year in a new job.
I attend a lively and interesting discussion about the 1 January renewals with Aon Benfield. The renewals season was understandably fraught, given the number of catastrophes in 2011 and the required negotiations, but reinsurance remains plentiful - for the right price, of course.
Telematics is back in the headlines. Celent predicts the technology will burst onto the mainstream and put its niche product status behind it. As if in response, the AA reveals it will launch its telematics product on Confused.com.
I find myself battling with rivals and the clock to get out the story about the departure of Giles finance director Mark Chambers, who is returning to bookmaking after five years in broking. I look up to see similar battles being waged across the newsdesk with stories about Towergate and Canopius. With all this going on, it emerges that MMA Insurance and Provident will merge.
I get some insight into the inner workings of reinsurer Hannover Re’s finance department this morning during an interview for our sister title Global Reinsurance, and now it’s time to get stuck into the first press day of the year. Looking forward to more renewals insight from Marsh’s reinsurance division Guy Carpenter tomorrow …