<br />
INSURANCE SECTOR TRENDS:<br />
2017 YEAR END REVIEW AND<br />
FORECAST FOR 2018<br />
INTRODUCTION<br />
In just the last year:<br />
• President Trump was inaugurated<br />
• The US and EU signed an unprecedented “covered agreement”<br />
• Europe faced several critical national elections, emerged largely intact, but more to come<br />
• Brexit started to bite<br />
• More than 3,500 insurance and technology people gathered at InsureTech Connect<br />
• There were $306 billion in economic losses from natural and man-made disasters.<br />
Only a third of these disaster losses were insured – an industry indictment/opportunity<br />
• AIG and MetLife ceased to be non-bank SIFIs<br />
• Regulators pivoted from entity-based to activities-based assessments of systemic risk<br />
• CVS signed to acquire Aetna in a $69 billion game-changing pending transaction<br />
• Life and non-life companies continued to shed non-core or under-performing business<br />
• The IAIS<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 1" href="http://viewer.zmags.com/publication/1300a02d?page=1"> INSURANCE SECTOR TRENDS: 2017 YEAR END REVIEW AND</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 2" href="http://viewer.zmags.com/publication/1300a02d?page=2"> INTRODUCTION In just the last year: • Presid</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 3" href="http://viewer.zmags.com/publication/1300a02d?page=3"> TABLE OF CONTENTS INTRODUCTION </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 4" href="http://viewer.zmags.com/publication/1300a02d?page=4"> Blockchain and Other Decentralized Technology </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 5" href="http://viewer.zmags.com/publication/1300a02d?page=5"> Regulatory and Legislative Developments </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 6" href="http://viewer.zmags.com/publication/1300a02d?page=6"> GLOBAL DEVELOPMENTS DRIVING OPPORTUNITIES AND CHA</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 7" href="http://viewer.zmags.com/publication/1300a02d?page=7"> Increasingly, developments at a global level are </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 8" href="http://viewer.zmags.com/publication/1300a02d?page=8"> insurers currently passporting in to the UK will </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 9" href="http://viewer.zmags.com/publication/1300a02d?page=9"> Statements Concerning UK Regulators’ Approach Th</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 10" href="http://viewer.zmags.com/publication/1300a02d?page=10"> 2017 execution of the Covered Agreement expresses</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 11" href="http://viewer.zmags.com/publication/1300a02d?page=11"> Systemic Risk Analyses Throughout 2017, there we</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 12" href="http://viewer.zmags.com/publication/1300a02d?page=12"> heightened prudential standards to apply to any “</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 13" href="http://viewer.zmags.com/publication/1300a02d?page=13"> Expertise, to remain a member of FSOC. However, i</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 14" href="http://viewer.zmags.com/publication/1300a02d?page=14"> COMMERCIAL AND TRANSACTIONAL ISSUES AND TRENDS </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 15" href="http://viewer.zmags.com/publication/1300a02d?page=15"> Global Trends in Insurance M&A in 2017 and a Look</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 16" href="http://viewer.zmags.com/publication/1300a02d?page=16"> is also producing a number of ground-breaking non</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 17" href="http://viewer.zmags.com/publication/1300a02d?page=17"> have seen and are anticipating continued interest</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 18" href="http://viewer.zmags.com/publication/1300a02d?page=18"> of provisions of the Internal Revenue Code affect</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 19" href="http://viewer.zmags.com/publication/1300a02d?page=19"> Controlled Foreign Corporation (CFC) Rules The T</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 20" href="http://viewer.zmags.com/publication/1300a02d?page=20"> consequently has little or no premium income), an</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 21" href="http://viewer.zmags.com/publication/1300a02d?page=21"> Tax Reporting for Life Settlement Transactions’ E</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 22" href="http://viewer.zmags.com/publication/1300a02d?page=22"> INNOVATION AND TECHNOLOGY IN INSURANCE </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 23" href="http://viewer.zmags.com/publication/1300a02d?page=23"> InsurTech/FinTech The insurance sector is faced </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 24" href="http://viewer.zmags.com/publication/1300a02d?page=24"> controlled environment (repor ted on below in rel</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 25" href="http://viewer.zmags.com/publication/1300a02d?page=25"> ■ an event with Google focused on public policy c</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 26" href="http://viewer.zmags.com/publication/1300a02d?page=26"> options include considering premium adjustments t</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 27" href="http://viewer.zmags.com/publication/1300a02d?page=27"> regulation in the country to apply to all compani</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 28" href="http://viewer.zmags.com/publication/1300a02d?page=28"> start issuing recommendations of modifications to</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 29" href="http://viewer.zmags.com/publication/1300a02d?page=29"> Blockchain and Other Decentralized Technology Th</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 30" href="http://viewer.zmags.com/publication/1300a02d?page=30"> HOW BLOCKCHAIN WORKS Transactio broadcast t</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 31" href="http://viewer.zmags.com/publication/1300a02d?page=31"> THE INTERNATIONAL ASSOCIATION OF INSURANCE COMMIS</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 32" href="http://viewer.zmags.com/publication/1300a02d?page=32"> The IAIS has continued to work on multiple work s</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 33" href="http://viewer.zmags.com/publication/1300a02d?page=33"> can provide the impetus for a jurisdiction to cha</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 34" href="http://viewer.zmags.com/publication/1300a02d?page=34"> US FEDERAL UPDATE: ELECTIONS; AND LEGISLATIVE AND</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 35" href="http://viewer.zmags.com/publication/1300a02d?page=35"> What the 2017 Elections Mean for Insurance With </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 36" href="http://viewer.zmags.com/publication/1300a02d?page=36"> ■ Decision Regarding Continuation (or lack thereo</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 37" href="http://viewer.zmags.com/publication/1300a02d?page=37"> The report, identified ways to improve the regula</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 38" href="http://viewer.zmags.com/publication/1300a02d?page=38"> National Flood Insurance Program Reauthorization </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 39" href="http://viewer.zmags.com/publication/1300a02d?page=39"> NAIC AND STATE REGULATORY DEVELOPMENTS 39 | </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 40" href="http://viewer.zmags.com/publication/1300a02d?page=40"> 2017 State Elections, New Insurance Commissioners</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 41" href="http://viewer.zmags.com/publication/1300a02d?page=41"> Long-Term Care and Receivership Issues On Decemb</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 42" href="http://viewer.zmags.com/publication/1300a02d?page=42"> EUROPEAN REGULATORY AND LEGISLATIVE DEVELOPMENTS </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 43" href="http://viewer.zmags.com/publication/1300a02d?page=43"> European Union Insurance Distribution Directive </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 44" href="http://viewer.zmags.com/publication/1300a02d?page=44"> Treasury Select Committee’s Report The Report is</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 45" href="http://viewer.zmags.com/publication/1300a02d?page=45"> ■ consider whether UK regulation post-Brexit can </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 46" href="http://viewer.zmags.com/publication/1300a02d?page=46"> France Increased Powers for the High Council for</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 47" href="http://viewer.zmags.com/publication/1300a02d?page=47"> Italy Public Consultation 3/2017 on the Simplifi</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 48" href="http://viewer.zmags.com/publication/1300a02d?page=48"> LATIN AMERICA AND SOUTH AMERICA DEVELOPMENTS 48 </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 49" href="http://viewer.zmags.com/publication/1300a02d?page=49"> Brazil Regulatory and Legislative Developments </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 50" href="http://viewer.zmags.com/publication/1300a02d?page=50"> to assume this risk and, therefore, we will have </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 51" href="http://viewer.zmags.com/publication/1300a02d?page=51"> ASIA REGULATORY DEVELOPMENTS 51 | </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 52" href="http://viewer.zmags.com/publication/1300a02d?page=52"> Hong Kong The Insurance Companies (Amendment) Or</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 53" href="http://viewer.zmags.com/publication/1300a02d?page=53"> ■ removing the tensions that currently exist w</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 54" href="http://viewer.zmags.com/publication/1300a02d?page=54"> ■ Foreign insurers are not permitted to invest in</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 55" href="http://viewer.zmags.com/publication/1300a02d?page=55"> Indonesia In 2013, the Indonesian regulator (OJK</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 56" href="http://viewer.zmags.com/publication/1300a02d?page=56"> ■ Life insurance company ■ General insurance </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 57" href="http://viewer.zmags.com/publication/1300a02d?page=57"> Simplification of Digital Processes Existing leg</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 58" href="http://viewer.zmags.com/publication/1300a02d?page=58"> AUSTRALIA AND NEW ZEALAND DEVELOPMENTS 58 | </a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 59" href="http://viewer.zmags.com/publication/1300a02d?page=59"> Australia 2017 saw the continued focus of the co</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 60" href="http://viewer.zmags.com/publication/1300a02d?page=60"> policy cost for the product (which includes premi</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 61" href="http://viewer.zmags.com/publication/1300a02d?page=61"> After considering the submissions, the Reserve Ba</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 62" href="http://viewer.zmags.com/publication/1300a02d?page=62"> CONCLUSION AND FORECAST 2018 will be a dramati</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 63" href="http://viewer.zmags.com/publication/1300a02d?page=63"> OUR GLOBAL PRESENCE DLA Piper presence Coope</a>
<a title="Insurance Sector Trends: 2017 Year End Review and Forecast for 2018 page 64" href="http://viewer.zmags.com/publication/1300a02d?page=64"> About us DLA Piper is a global law firm with law</a>