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Hi Friends! This week in insurance we are following broker updates, Greenberg comments and the State of Insurtech. Here are the three things we learned this week: |
[1] |
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Broker M&A and Digital Transformation The merger between Aon and Willis appears to be nearing closure, The EU has extended their review until July but the Willis CEO still expects it will happen in the first half of 2021. Hub International launched a new digital platform for ‘transactional’ insurance. A good idea to create a platform for lower touch personal lines risks and likely necessary to take cost out of those transactions. They will need to be able to execute this concept as a truly digital customer experience. |
[2] |
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Greenberg Comments, Growth Potential Chubb released their Q1 results showcasing growth in most of their business segments and posting $2.3B of net income. Evan Greenberg’s comments following the release included: they are moving on from The Hartford, he sees opportunity from organic growth and other M&A deals, the hardening market in commercial lines will continue to endure and help to power growth and they are in a position of strength. |
[3] |
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State of Insurtech We have grown accustomed to Willis Tower Watson’s quarterly insurtech report providing a good state of things. The 2021 Q1 report shows there to be another record amount of funding ($2.55B) on record number of deals (146). Eight companies had mega rounds (+$100 M), also a record, accounting for the majority of the growth. For public insurtechs, a new index HPIX was launched this week by Hudson Structured Capital, it is unique and will give us a way to monitor the newly public entities as a sector. |
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Thank you for following us, we appreciate your feedback on topics and items you would like to hear about. Please schedule a meeting if you would like to discuss anything further. Look for some changes to these updates and other content on our ODS and IBOOM offerings. Stay productive, stay safe and stay in touch! |