Tamika Providence

Insurance

Insurers will seek to benefit from open banking through partnerships post-COVID-19

Open banking has been transforming the financial sector, allowing for platforms to deliver customized digital products and the COVID-19 pandemic is set to accelerate this. It can ultimately help consumers better manage their finances and reduce person-to-person interaction, something that insurers are also increasingly seeking to benefit from, as well as gaining access to customer […]

Insurance

Allianz’s exposure to business interruption and event cancelation lines could be costly

Allianz’s dependency on Europe and risky products, as well as life insurance, impacts the company’s short-term growth prospects. Europe accounted for 75% of Allianz’s total business in 2018. It is skewed towards Germany and Italy, which accounted for over half of its total insurance business that year, according to GlobalData, a leading data and analytics […]

Insurance

COVID-19 will see insurers adapt polices as risks change

COVID-19 has forced many people to work from home. In many ways, this has reduced some risks – for example fewer people will be a victim of theft or burglary, and household damage such as burst pipes and leaking appliances will be reduced, which can hold the highest cost to home insurers. However, the transition […]

Insurance

AIG’s high concentration in life and the US market makes it vulnerable

The US accounted for over three quarters of American International Group’s (AIG) business in 2018. This exposes it to increased claims due to the high COVID-19 death toll in the country, according to GlobalData, a leading data and analytics company. AIG is more concentrated in one particular area than most global insurers of similar size, […]

Medical Devices

Abbott’s FDA approval for ICD and CRT-D places company in advantageous position over competitors

Abbott won FDA approval in July for its next-generation Gallant implantable cardioverter-defibrillator (ICD) and cardiac resynchronization therapy defibrillator (CRT-D) devices, which was equipped with Bluetooth technology and an accompanying smartphone app. This approval places Abbott in an advantageous position over other devices and may allow the company to recover faster from the impact of the […]

Aerospace, Defense & Security

More layoffs for Boeing are no surprise in battered air travel industry

Following the recent news that Boeing will extend staff cuts beyond the 10% originally announced; Nicolas Jouan, Aerospace and Defense Analyst at GlobalData, a leading data and analytics company, offers his view on the situation: “Despite an encouraging FAA directive issued earlier this month regarding the return to flight of the B737 MAX, Boeing’s troubles […]

Mining

COVID-19 to reduce global lead production by 5.2% in 2020

Global lead production is expected to decline by 5.2% to 4.5 million tonnes (Mt) in 2020. The outbreak of the COVID-19 pandemic in late December 2019 significantly impacted the mining industry in the first half of 2020, and continues to do so, says GlobalData, a leading data and analytics company. Overall global lead mine production […]

Insurance

Sweden set to become world’s first cashless society as it country embraces contactless

Contactless payments and online spending will continue strong growth post-COVID-19, as Sweden leads the global race to become a cashless society. Cash accounted for just 1.1% of the country’s overall payment transaction value in 2019, according to GlobalData, a leading data and analytics company. The data analytics company forecasts the Swedish e-commerce market to grow […]

Insurance

Crashing Spanish economy gives bleak outlook for insurers

GlobalData’s updated post-COVID-19 forecasts predict negative growth in total GWP for life insurance and general insurance in 2020. It forecasts a decline of 1.2% for life, compared to growth of 3% pre-COVID-19, and a decline of 2.2% in 2020 for general insurance, compared to 2.9% growth previously. COVID-19’s impact on life insurers is partly offset […]

Insurance

Diverse leading Austrian insurers have premiums spread across multiple lines

Leading Austrian insurers are less solely reliant on the life segment than other European countries, which should benefit them in the short-term, with only two of the top ten Austrian insurers (Wiener Stadtische Verchereung with 52% and Ergo Versicherung Ag with 87%) having the majority of their business in life insurance. This compares to seven […]

Power

Net-metering and capacity tenders to drive solar PV capacity in the MEA region

Several countries in the MEA region have increased their focus on the development of solar PV in order to build capacity while reviewing GHG emissions. Countries are specifically working toward the implementation of a net-metering scheme and solar PV auctions. This is facilitated by governments by taking several regulatory steps to favor the adoption of […]

Insurance

Post-COVID-19 demand for cyber expertise an opportunity for brokers

COVID-19 has presented brokers with challenges and opportunities, as they look to capitalize on increasing demand for cyber insurance while struggling with their own digital capabilities. GlobalData’s 2019 UK SME Insurance Survey found that 46.2% of cyber insurance policies for SMEs were distributed by brokers in 2019, highlighting how this is a big opportunity for […]

Medical Devices

Asymptomatic testing will be key in next phase of pandemic

Following the news LabCorp’s COVID-19 test received the first food and drug administration (FDA) emergency use authorization (EUA) for use in screening asymptomatic subjects; Aliyah Farouk, Medical Device Analyst at GlobalData, a leading data and analytics company, offers her view: “Asymptomatic testing will be key in the next phase of the pandemic as concerns about […]

Aerospace, Defense & Security

UAE builds up local industry and talent with AMMROC purchase

Following the news that the UAE’s EDGE Group announced a conditional purchase of the remaining 40% shares held by Lockheed Martin and Sikorsky in Advanced Military Maintenance Repair and Overhaul Center (AMMROC); Mathew George, Ph.D., Aerospace & Defense Analyst at GlobalData, a leading data and analytics company, offers his view: “EDGE Group’s purchase will make […]

Strategic Intelligence

COVID-19 depressed TMT M&A deals activity by 40% in H1 2020

COVID-19 was responsible for a 40% drop in the number of mergers and acquisitions (M&As) announced in the technology, media, and telecom (TMT) sector in the first six months of 2020, says GlobalData, a leading data and analytics company. The company’s latest Thematic Research report, ‘M&A in TMT – Review of H1 2020’, reveals that […]

Insurance

Belgian insurers have diverse premiums but COVID-19 threat remains

The top ten Belgian insurers are slightly more dependent on the life segment in terms of gross written premiums (GWPs), in comparison with Europe – but the Belgium market has more balance than most European countries, according to GlobalData, a leading data and analytics company. The country’s top ten players have 59% of their GWPs in the life segment and all ten players have premiums in both life and non-life insurance, while […]

Construction

Further cuts to MENA construction sector as impact of COVID-19 and low oil prices deepen

The 2020 construction output growth for the Middle East and North Africa (MENA) region has been revised down to -2.2% (down from -1.4% previously), according to GlobalData, reflecting the disruption caused by the spread of COVID-19 and the weaker economic outlook. Yasmine Ghozzi, Economist at GlobalData, comments: “Despite oil exporting countries’ efforts to shore up oil […]

Construction

Outlook for Europe’s construction sector remains bleak despite easing of lockdown measures

Western European construction output is expected to fall by 6.1% in 2020, in comparison to a previously expected expansion of 1.2% prior to COVID-19, says GlobalData, a leading data and analytics company. Moustafa Ali, Economist at GlobalData, comments: “Governments across Europe originally responded to the virus outbreak by imposing strict lockdown measures, which resulted in […]

Oil & Gas

US drives North America’s refining industry to reach 25.8 mmbd by 2024, says GlobalData

The US is expected to lead the refining industry in North America, pushing the total crude oil refining capacity in the region from 24.6 million barrels per day (mmbd) in 2019 to approximately 25.8mmbd by 2024, according to GlobalData, a leading data and analytics company. The company’s report,‘Global Refining Industry Outlook to 2024 – Capacity […]

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Insurers will seek to benefit from open banking through partnerships post-COVID-19

Allianz’s exposure to business interruption and event cancelation lines could be costly

COVID-19 will see insurers adapt polices as risks change

AIG’s high concentration in life and the US market makes it vulnerable

Abbott’s FDA approval for ICD and CRT-D places company in advantageous position over competitors

More layoffs for Boeing are no surprise in battered air travel industry

COVID-19 to reduce global lead production by 5.2% in 2020

Sweden set to become world’s first cashless society as it country embraces contactless

Crashing Spanish economy gives bleak outlook for insurers

Diverse leading Austrian insurers have premiums spread across multiple lines

Net-metering and capacity tenders to drive solar PV capacity in the MEA region

Post-COVID-19 demand for cyber expertise an opportunity for brokers

Asymptomatic testing will be key in next phase of pandemic

UAE builds up local industry and talent with AMMROC purchase

COVID-19 depressed TMT M&A deals activity by 40% in H1 2020

Belgian insurers have diverse premiums but COVID-19 threat remains

Further cuts to MENA construction sector as impact of COVID-19 and low oil prices deepen

Outlook for Europe’s construction sector remains bleak despite easing of lockdown measures

US drives North America’s refining industry to reach 25.8 mmbd by 2024, says GlobalData

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