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Global insurance brokerage Willis Towers Watson (WTW) has launched Igloo Cloud, a new cloud-based solution that offers “game-changing performance” – with virtually unlimited and flexible computing resources, scalability, and reduced operating costs.
Igloo Cloud reduces the overall cost of ownership of Igloo, WTW’s capital modelling platform, while also extending the capabilities of Igloo into Microsoft Azure.
Managed by WTW, the cloud-based solution allows users to remove or reduce the need for specialist IT, high-performance data centres, disaster recovery sites, and hardware refresh cycles. Moving to an environment in Azure also allows users to select the right resources for each job,
For long-term business, total revenue premiums of in-force long policies were HK$139.1 billion (down by 5.2% year on year). This was comprised of HK$113.3 billion from individual life and annuity (non-linked) business (decreased by 8.9%), HK$9.5 billion from individual life and annuity (linked) business (increased by 48.4%), and HK$14.4 billion from retirement scheme business (increased by 3.6%).
Travel restrictions have caused new business from visitors from mainland China to plunge by 98% to HK$100 million from HK$5.4 billion during the first quarter of 2020.
The general insurance side remained relatively stable, with gross premiums at HK$18.3 billion at no significant