Newsletters: Article

August 2017

Article & News

We are considering an entry into the high net worth (HNW) insurance market. How should we think about developing an acquisition strategy to attract affluent and HNW individuals?

The high net worth personal lines market is top of mind for a number of insurance carriers.  Since the end of the Great Recession in 2008, the insurance market for high net worth (HNW) individuals has rebounded, averaging a near double-digit annual growth rate with premiums climbing toward $40 billion.  At the same time, ACE’s 2015 acquisition of Fireman’s Fund Personal Lines and 2016 acquisition of Chubb has created competitive space for new entrants such as Cincinnati Insurance and Berkley, alongside legacy players such as AIG Private Client Group and PURE.  Widespread speculation that additional players – like Ironshore, QBE, National General, and Travelers – are eyeing the market raises the stakes for companies seeking to enter this lucrative marketplace in the right way

However, customer acquisition in the HNW market is significantly more complex than in the mass market and not for the faint of heart…

Read more >

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IN THE NEWS

Innovation

Disrupt or Be Disrupted: The Endemic of Banking ‘Out of Touchness’

July 11, 2017

You know what the biggest disruption to the banking industry is? If you answered, “block chain”, you are only partially correct… more »

Bankers Ditch Fat Salaries to Chase Digital Currency Riches

July 25, 2017

Richard Liu gave up a seven-figure salary this month to get into one of the hottest financial instruments around right now: initial coin offerings… more »

Leadership

Motivating Employees Is Not About Carrots or Sticks

June 27, 2017

Motivating employees seems like it should be easy. And it is — in theory. But while the concept of motivation may be straightforward, motivating employees in real-life situations is far more challenging… more »

Behind Every Good M&A Deal Is a Good Succession Plan

July 5, 2017

A deep bench is important for any bank, but strong succession plans are crucial once banks decide to become active M&A players. Occasionally financial institutions have to deal with the unexpected departure of a key executive… more »

Insurance

Blockchain Could Make the Insurance Industry Much More Transparent

July 12, 2017

While Edward Lloyd is largely credited with commercializing the insurance industry, with the creation of his namesake firm, Lloyd’s, over 330 years ago, the original concept of spreading risk (or “mutualizing”) goes back even further. Hundreds of years before Lloyd’s was formed, Chinese merchants would spread their valuable cargo across multiple vessels, with each one carrying an equal share… more »

Bank of America’s Moynihan: No Quick Pullback from Fiduciary Rule

July 18, 2017

Bank of America Corp’s chairman and CEO, Brian Moynihan, does not see a quick pullback from the Department of Labor’s fiduciary rule. The bank’s global wealth and investment management group, which contains Merrill Lynch Wealth Management, last year said it was eliminating commissions from advised brokerage IRAs, sending a shock through the investment advice industry… more »

Banking, Lending & Payments

The Secret History of the Banking Crisis

July 14, 2017

It is a decade since the first tremors of what would become the Great Financial Crisis began to convulse global markets. Across the world from China and South Korea, to Ukraine, Greece, Brexit Britain and Trump’s America it has shaken our economy… more »

Libor Funeral Set for 2021 as FCA Abandons Scandal-Tarred Rate

July 27, 2017

Libor, the nearly 50-year-old global borrowing benchmark that became a byword for corruption, is headed for the trash heap of history. The U.K. Financial Conduct Authority will phase out the key interest-rate indicator by the end of 2021… more »

Asset Management

DOL Fiduciary Rule Opponents Want to Push Implementation Back Until 2019

July 24, 2017

Critics of the DOL fiduciary rule are urging the Labor Department to delay its implementation until January 2019 — or possibly longer… more »

MUFG Arms Itself With $9 Billion War Chest for Acquisitions

July 31, 2017

Mitsubishi UFJ Financial Group Inc.’s trust banking arm is seeking acquisitions abroad and has 1 trillion yen ($9 billion) to spend… more »

Private Equity

‘I’m Going to Issue a Warning’: Howard Marks’ Outlines the Dangers of Today’s Market

July 26, 2017

Oaktree Capital’s Howard Marks is sending a warning to markets. In his latest investing memo to clients, Marks — one of the most widely-read and respected investing pros out there — strikes an extremely cautious tone and recalls two memos he published in years most investors would like to forget… more »

Secondary Private Equity Deals Near Record