All GLG News Analyses Filed Under: Insurance & Risk Management

Rate increases for the State run property insurance company.

April 20, 2009

Analysis by: GLG Expert Contributor

Analysis of:Insurance Task Force Backs Capped Hike Of Citizens' Rates | www2.tbo.com

Florida officials now understand how the business of insurance works in Florida and how much it really does cost.

Aggregate Gap in Assets and Liabilities create a Deficit in the UK Pension Funds!

April 17, 2009

Analysis by: GLG Expert Contributor

Analysis of:UK pension deficit hits £250bn | www.ft.com

Implication: 1.A shortfall is expected to affect 90% of ALL PLANS!!! 2.The Major Consideration - forceable entry of Companies/Firms ti INJECT more CASH. A drain on a Critical Asset of any Institution! 3.Alternatively - Reduce Investment Risk. An achievable option , which should be exercised!!! 4.An injection of more Cash is , only , a stop-gap measure.Risk aversion is the answer for a Long - Term Solution. 5.Yields and Stock Market returns should have been avoided by Sound Financial Management not Policymaking! 6.The matching of assets and liabilities should, indeed, follow a straight line with a minimum of deviation. The answer lies in the consistent monitoring of ALL Variables to the equation. A single variable is likely to lead to this exposure.

Mark MariottiChief Executive OfficerFuture Management Holdings Inc

The ING'ing of US markets

April 16, 2009

Analysis of:ING to shed €8 billion of assets | business.timesonline.co.uk

During the previous several years, ING has presented good saving values in front of the US consumer, via their ING Direct operation. Their advertisements have presented a healthy image of saving money for the future, as well as FDIC insured deposits.

ING Sheds Assets: Timing and Proceeds of the Disposal

April 15, 2009

Analysis by: GLG Expert Contributor

Analysis of:ING to shed €8 billion of assets | business.timesonline.co.uk

Implications: 1. A Narrowing of the Firm's Scope of Business activity will have a Negative Impact on the Firm's ability to aggressively BUILD SALES Strategy in Future Markets. 2. There will be no Acceleration of Prospective Sales in the near future. 3.The most salient purpose of this Strategy is to Repay a hugh Government Bailout. A small value-added business decision : if the marketplace revives and products have to be sold to meet consumption demands. 4.Other "Strategic" Options must , now. be explored . It is a question of "Timing" not Product Line Enhancement. 5. All business criteria points to a "Buyers Market".It is not a favorable  business environment! 

View from Ukraine: ING to shed €8 billion of assets

April 9, 2009

Analysis by: GLG Expert Contributor

Analysis of:ING to shed €8 billion of assets | business.timesonline.co.uk

- ING recent decision on "back to basics" will have positive impact on its business prospects; - Close of ING Retail Banking operations is a wise step, because entering Ukrainian retail market so late (June 2008) with limited scope of products and unrealistic plans (without thinking about storm on global capital markets) was a very big mistake

Increased TPA Internal Claims Pressure

April 8, 2009

Analysis by: GLG Expert Contributor

Analysis of:Economic Downturn Presents Mixed Results for Workers' Comp Market | www.claimsjournal.com

The number of clams reported may have been reduced overall due to the recession. At the same time, the cost of each clam has increased putting pressure on the TPA's to handle more with less.    

P&C TPA's to be impacted by reduction of WC claims volume

April 6, 2009

Analysis by: GLG Expert Contributor

Analysis of:Economic Downturn Presents Mixed Results for Workers' Comp Market | www.claimsjournal.com

The current recession will have significant impact on some segments of the workers compensation insurance and claims administration (TPA) market.  With declining employment, claim counts will be reduced over the period until recovery is well underway.  While there is anecdotal data that indicates claim frequency increases due to plant closings or lay-offs, in general, recessions have led to reductions in claim frequency.  This article summarizes comments from Harry Shuford, chief economist for the National Council on Compensation Insurance (NCCI) at a recent meeting of the Casualty Actuarial Society (CAS) Ratemaking and product Management Seminar in Las Vegas.  

Three Year Strategy Flawed by Not Including Redeployment Tactic

April 6, 2009

Analysis by: GLG Expert Contributor

Analysis of:Norwich Union announces plan to cut 1,700 jobs | business.timesonline.co.uk

The layoffs will be primarily in the Business Change and IT departments.  Of those positions eliminated 42% are contractors.  This is expected at the conclusion of a successful business change strategy. However, there 800 employees will also face the loss of their jobs.  On the surface this could be a tactical weakness of NU's strategy in that their redeployment was not part of the plan.  If union contract rules hampered the redeployment, NU should have factored it in early on and worked with the union for redeployment. NU with paying a dividend is balancing their responsibilities to their stockholders (one group of stakeholders) with their other responsibilities of continued capital investment.  Employees are stakeholders also and their interest must be considered.  It is not just those whose positions are eliminated but it is also the psychological effect on those remaining. 

Misleading Headline

April 1, 2009

Analysis by: GLG Expert Contributor

Analysis of:Lloyds said to review insurance units | uk.reuters.com

Appreciating the source (Reuters), the headline of the article (LLoyds said to review insurance units) is misleading.  Such headline suggests that the article might apply to Lloyd's of London which is the world-renown syndicated insurance entity and is on very solid financial footing.  To the contrary, the article clearly pertains to a very different entity; namely, Lloyds Banking Group.  I would respectfully suggest proper clarification when posting future articles on "Lloyds." Respectfully submitted, Paul Walther, CEO Reinsurance Directions, Inc.

Justin HupetConsultantJustin Hupet

Sun Life's Indonesian Acquisition: CIMB Will Boost Presence In Priority Growth Region

March 19, 2009

Analysis of:Acquisition Sun Life, CIMB team up to form joint venture | www.thejakartapost.com

Yes, I think the CIMB acquisition will significantly help Sun Life in tapping into Indonesia’s insurance sector where the company has had a presence since 1995 through P.T. Sun Life Financial Indonesia (which has four telemarketing centers, eight bank partners, and 3,800 agents).  Indonesia remains a key priority geographic region for both large Canadian insurers (i.e., Sun Life and Manulife), as it is one of the fastest growing insurance markets in Asia.  This transaction will increase Sun Life’s presence and reach in Asia, where they intend on continuing to build and grow their franchise consistent with the company's long-term strategy. 

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