Saturday, September 23, 2017

Australia

AIA pays A$3.8 billion for CBA life unit

AIA pays A$3.8 billion for CBA life unit

The Asian insurance giant has acquired Australia’s CommInsure Life and New Zealand’s Sovereign.

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AIA set to buy Commonwealth Bank’s life assets

AIA set to buy Commonwealth Bank’s life assets

The Asian insurance group has become favourite to buy the unit in a deal said to be worth more than US$4bn.

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Pat Regan expected to become QBE’s new CEO

Pat Regan expected to become QBE’s new CEO

He is expected to replace John Neal when the current CEO steps down at the end of the year.

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Chubb appoints two Asia-Pacific cyber executives

Chubb appoints two Asia-Pacific cyber executives

Andrew Taylor in Sydney and John DePeters in Singapore take up new regional cyber underwriting roles

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MS&AD to spend US$401m for stake in Challenger

MS&AD to spend US$401m for stake in Challenger

The Japanese group will acquire a 6%-plus interest in the leading player in Australia’s superannuation industry.

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IAG names chief digital officer

IAG names chief digital officer

Mark Drasutis moves from NewsCorp to assume the newly created position and take a lead on customer experience.

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IAG to maintain just one division in Australia

IAG to maintain just one division in Australia

The insurer will bring together all of its divisions in the country under chief operating officer Mark Milliner.

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Swiss Re appoints corporate solutions CEO for Australia, NZ

Swiss Re appoints corporate solutions CEO for Australia, NZ

Melanie Slack will be responsible for managing strategy, development and performance.

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AIG Australia pullout worries aircraft owners, operators

AIG Australia pullout worries aircraft owners, operators

The country’s aircraft industry fears higher insurance premiums as a result of reduced competition.

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Munich Re, Sompo agree partnership with Trov

Munich Re, Sompo agree partnership with Trov

The insurtech firm is expanding its on-demand policies in Europe, Asia and South Africa.

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Nippon Life bullish on Australian foray

Nippon Life bullish on Australian foray

Japan’s biggest life insurance company has high hopes for its investment in MLC Life Insurance.

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Australian insurers quitting life business

Australian insurers quitting life business

Insurers are responding to tough conditions and a public backlash by exiting the sector.

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Suncorp eyes sale of US$1.5bn life insurance unit

Suncorp eyes sale of US$1.5bn life insurance unit

Chief executive Michael Cameron said a sale is one of the options being considered.

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Sony Life inks deal with Australia’s ClearView Wealth

Sony Life inks deal with Australia’s ClearView Wealth

The agreement will see the two companies sharing information to drive efficiency and growth.

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Tokio Marine buys 50% stake in eSentry Underwriting

Tokio Marine buys 50% stake in eSentry Underwriting

The Japanese insurer has bought a controlling stake in a specialist underwriting agency based in Australia.

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SCOR veteran to head PartnerRe life & health business

SCOR veteran to head PartnerRe life & health business

Marc Archambault, previously CEO of Asia-Pacific for SCOR Global Life, will be replaced by Craig Ford.

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Australia pushes for regional calamity risk cover

Australia pushes for regional calamity risk cover

The country is identifying areas where it may be able to encourage affordable disaster risk insurance.

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Challenger enters Japanese market

Challenger enters Japanese market

It will sell Aussie dollar annuities through a deal with Mitsui Sumitomo Primary Life Insurance.

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SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers