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Happy New Year! We hope everyone had a wonderful holiday season, finished off a successful 2021 and are ready to go in 2022. We are back with our weekly learnings and this week features some news that should highlight some of the trends we expect in the new year including M&A activity continuing, COVID losses becoming more clear and other predictions. Here are the three things we learned: |
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M&A Continues with the Usual Acquirers Last year was full of deal-making and it appears that trend will continue this year with many of the usual acquisitive parties continuing to make news. This week, Acrisure announced the acquisition of Appalachian Underwriters, a wholesale MGA platform. This looks a little different from Acrisure’s usual deals, they are touting the technology capability that Appalachian has but it would appear that they will also benefit from their scale and the niche markets they serve. |
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COVID Loss $44B Though the pandemic is on-going, it is starting to become clear the loss total that the industry will face. According to a report, total insured losses attributable to COVID will top $44B, making it the 3rd largest single event in history behind only Hurricane Katrina and the 9/11 attacks. With the new variant causing more pains, does the number grow larger? Of course we did not see this coming in 2019 and thought that by 2022 it would be behind but it will remain a trend worth watching. |
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2022 Predictions This has been a big week of looking forward and trying to predictions. Yogi Berra once said that “It’s tough to make predicitions, especially about the future”. With that said there were several insightful words and we found from Ian’s blog as well as ITL’s take on the future for insurtech. One thing we know to be certain is that the insurance industry will continue to move forward and we will be following and serving as a resource to the industry. |
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Thank you for following us, we appreciate your feedback and continued support. Until next week… stay safe, stay productive! |