Europe’s asset management industry is expected to enter a period of fresh consolidation as companies seek the scale required to compete in a complex investment landscape, offering insurers a chance to free up capital and simplify their business models.
Analysis
The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 1.9 percent last week, with all 12 industry groups posting gains.
Hannover Re was the only one of the big four European reinsurers to not deliver a major surprise in its Q3 earnings, with profit warnings at Munich Re and Swiss Re and a life charge at Scor providing the main headlines from the quarter’s results.
The North American insurance composite compiled by Stonybrook Capital and Weild & Co rose 0.8 percent last week, outperforming Wall Street benchmarks that turned negative after Federal Reserve commentary tempered expectations for interest rate cuts.
The North American insurance composite compiled by Stonybrook Capital and Weild & Co joined the broader equity markets in record territory last week following the US presidential election on Tuesday and the Federal Reserve’s rate cut on Thursday.
More than one-quarter of recent university graduates in Singapore do not see insurance as an attractive career option, with top factors including limited career growth opportunities and lack of information about the industry, new research by Canopius has found.
The outcome of the US presidential election has several ramifications for the insurance industry, including the impact of fiscal, tax and regulatory policies.
Ten of the 12 industry groups in the North American insurance composite compiled by Stonybrook Capital and Weild & Co reported declines last week amid a mixed Wall Street performance.
Improved balance sheet strength and favourable operating results meant (re)insurers in the Asia Pacific (APAC) region saw more upgrades to long-term issuer credit ratings (ICRs) than downgrades last year, according to AM Best.
Equity markets on both sides of the Atlantic ended October in the red, as gains were erased in the final two trading days after disappointing reports from mega-cap tech companies such as AMD, Apple, Microsoft and Meta.
