GLG News by Independent Insurance Consultants

Titus BocseriManaging DirectorUmbrella Solutions

Is this (really) a surprise?

November 3, 2006

Analysis of:Suit Reveals Fraudulent Scheme in Life Settlement Industry | www.oag.state.ny.us

Considering the nature of the life settlement deals is anchored in arbitrage, this secondary market is filling a gap between the insurance industry and capital markets. However, given the growth of the industry - the estimated market size in 2015 is around 130 billion dollars - there will be players that are willing to go the 'extra mile' in order to get more business. In particular, it is not unusual that life settlement companies to participate in 'co-brokering fees' with brokers that are supposed to represent the interests of the policy holders - especially when the commision is 50% or more of what the (former) insured received.

Amanda AtkinsChief Executive OfficerAfinia Capital Group

Underestimating Life Expectancy could hamper growth of a profitable LS Exchange.

July 12, 2006

Analysis of:Cantor Eyes Life Settlement Exchange | www.iddmagazine.com

In my view future prospects for a Life Settlements exchange will be significantly hampered by life expectancy uncertainty.

Trading debt is not the same as trading lives, Industry players are reliant upon industry models which have continuously underestimated life expectancy and medical examiners who have consistently assumed individuals will die relatively quickly from whatever ails them.

Regulatory scrutiny of a transaction whereby a third party makes a return based on someone else’s life span will also hamper the growth of a simple exchange mechanism, especially as generally the longer the individual lives the less profitable the policy for the third party.

Amanda AtkinsChief Executive OfficerAfinia Capital Group

So who's vulnerable ? and will 2006 be the year?

June 7, 2006

Analysis of:$100bn+ hurricane loss "not far down the road" | www.theinsider.co.uk

AM Best announced today that a $100 bn + hurricane loss 
could send as many as 50 insurers to the wall.

A- rated companies are particularly vulnerable especially 
the monoline cat players including the new Class of 2005 
generally rated A-. 

Indications are that 2006 could well be a high activity 
catastrophe year. 

Amanda AtkinsChief Executive OfficerAfinia Capital Group

6.2 Java earthquake - Losses not expected to exceed $100m

June 1, 2006

Analysis of:Indonesia quake toll passes 3,000 | news.bbc.co.uk

The December 2004 Tsunami increased awareness of catastrophe insurance in Indonesia. Did this translate into increased losses for the insurance/ reinsurance industries following the 6.2 earthquake Java 26 May 2006 ?

In practise Indonesia remains under insured. Losses from the Java earthquake are not expected to exceed $100 million. Insurance protection in Indonesia remains peanuts compared to California. 
The article includes comparative date for California and Indonesia

Amanda AtkinsChief Executive OfficerAfinia Capital Group

Like Their Namesake in Omaha They Understand the Fundamentals

May 26, 2006

Analysis of:Sage CEO: Intuit Is Our Top Rival--Not Microsoft, Oracle, SAP | www.crn.com

Sage has a developed a solid franchise in providing software to Small 
and Medium Sized enterprises (SME's).

The SME market remains a core driver of business growth. Sage will 
prosper from that market supported by its extensive network of 
accountants. Sage will be able to withstand attacks from larger players.

Its prime risk is the threat posed by off the shelf home computing 
software. The article outlines practical experience of the phenomenon.

Bilyana SavicPresidentInsurance Insights

Likelihood of repercussions for life insururers unknown

May 1, 2006

Analysis of:Bird-flu pandemic could hurt life insurers | www.insurancenewsnet.com

If the bird-flu virus mutates and begins spreading among humans, the concern is that life insurers would not be prepared for the volume of claims anticipated.

Bilyana SavicPresidentInsurance Insights

Rumblings of Healthcare Reform

April 28, 2006

Analysis of:FTCR: Insurance Cancellation Scandal Widens: WellPoint, Blue Cross & Blue Shield Sued For Illegal Denials of Health Coverage | www.insurancenewsnet.com

Charges of illegal claims denial and illegal coverage cancellations are surfacing in California. The target is currently Wellpoint even though the standards and practices involved are common industry wide and acccepted as appropriate procedures. The twenty three lawsuits filed to date suggest a potential to trigger a multi-state investigation into these practices.

Bilyana SavicPresidentInsurance Insights

HSAs are a shift of cost from employer to employee, not an increase in quality

April 28, 2006

Analysis of:As HSAs Grow, Leaders Debate Accounts' Effectiveness | www.insurancenewsnet.com

Since March of 2005, the number of consumers covered by Health Savings Accounts increased from 1 million to 3 million. Large firms have seen the largest increase. Businesses with 20,000+ employees increased from 12% with Consumer Driven Health Plans to 22% between 2004 and 2005. However, adjustments need to be made to the HSA approach to improve accessability and financial benefits for consumers.

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