AGP Executive Report
Last update: 8 hours agoQatar Insurance: QIC reported 14% growth in nine-month insurance revenue to QR7.4bn. Conflict-related claims weighed on underwriting and profit, while premium growth helped offset the pressure. AI and Underwriting: Guidewire agreed to acquire UK-based Hyperexponential for up to $2.1bn, adding AI tools for pricing complex commercial risks. Sun Life Settlement: Ontario’s Superior Court approved a $213.5m settlement over the administration of universal life policies, covering about 70,000 eligible current and former policyholders. Distribution Reform: Banks and small finance banks are pressing India’s IRDAI for time to adjust to proposed insurance commission changes, which could affect fee income; feedback is due October 31. Market Conditions: Global commercial insurance rates fell 5% in the third quarter, while QIC cited a softening reinsurance market. Capital and Returns: Slide Insurance secured a $1.07bn credit facility and declared a $1.50-per-share special dividend alongside its quarterly payout. Consumer Rates: Georgia officials say 41 insurers have reported rate decreases, representing an estimated $500m in savings for 3.6 million policyholders.
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