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- August 9 2024
Central Re’s non-life reinsurance leadership in Taiwan to sustain: AM Best
The rating agency has affirmed the financial strength rating of "A" (Excellent) with a stable outlook.
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- August 9 2024
Malayan Insurance’s underwriting to benefit from portfolio measures, retail growth: AM Best
The rating agency has affirmed its “B++” financial strength rating and “stable” outlook on the Philippines' non-life insurer.
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- August 9 2024
Allianz Australia promotes Scott Langtree to distribution manager for Queensland
Langtree, who has been with the insurer for eight years, will lead a team of account managers to strengthen the group’s relationship and position with its strategic partners.
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- August 9 2024
QBE strikes US$1.6bn loss portfolio transfer deal with Enstar, RiverStone
Enstar’s subsidiary will assume US$376m out of total net loss reserves for US commercial liability and workers' compensation risks, effective July 1, and will provide approximately US$175m of cover in excess of the ceded reserves.
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- August 9 2024
QBE doubles H1 net profit, COR improves 5 percentage points to 93.8%
The insurer's GWP grew 2% to US$13bn for the period, while its underwriting performance benefitted from lower cat claims, stable prior-year reserve development and rate increases.
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- August 9 2024
Marsh elevates Eliza Grant to head of transactional risk for Pacific
Sydney-based Grant joined Marsh in 2021 as a senior transactional risk advisor for private equity and M&A.
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- August 9 2024
Opinion: WHO’s call for concerted push to prepare for next pandemic a timely warning
As infectious diseases remain a key risk for the region, having learned from the Covid-19 pandemic, insurers must not take eyes off the ball.
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- August 9 2024
Nexus strengthens Asia A&H reinsurance practice with Chubb hire
Low joins Nexus from Chubb where she was product manager, Bancassurance (Asia Pacific) for more than six years.
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- August 9 2024
Tower upgrades FY 2024 NPAT guidance to US$27m
The updated guidance assumes full utilisation of the FY 2024 large events allowance, which is set at US$27m.
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- August 8 2024
Zurich APAC H1 premiums up 9%, COR climbs marginally to 93.7%
Top line increase driven by strong retail growth, however, rising commission costs from a recovery in travel business in the region hurts bottom line.
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- August 8 2024
Asia’s buyer-friendly market to stay as pricing remains flat in Q2: Aon
US-related and nat cat-exposed property risks remained challenging across most markets in the region, although Hong Kong and China stood out with modest price reductions, the broker said in its Q2 market insights report.
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- August 8 2024
Japanese insurers to raise fire insurance premiums from October: report
The big four plans to corporate premiums by up to 15% because of deteriorating profitability in their fire insurance line.
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- August 8 2024
Nepal’s Air Dynasty helicopter crash leads to US$1.4m total loss
The chopper was insured with Sagarmatha Lumbini Insurance, which already had four helicopter losses in the country in 2023, and Nepal Reinsurance is the reinsurer involved in the latest crash, IAN understands.
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- August 8 2024
Lockton New Zealand takes Marsh’s Colin McCulloch as client director
Auckland-based McCulloch has been with Marsh for more than 28 years as principal providing insurance broking and risk advisory services to large and complex public sector and corporate organisations.
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- August 8 2024
Hiscox terminates sale of DirectAsia to Ignite Thailand
The deal was pulled due to failure in meeting customary conditions and regulatory approvals, however, the Lloyd's player said it is "exploring other options" for the Asian retail business.
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- August 8 2024
Dual expands into W&I insurance in ANZ with new team led by Jordan Schwarz
The MGA’s new transaction solutions capability is an expansion to its title insurance offering in the region launched in April this year.
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- August 8 2024
Cyber wordings, limits set to tighten as CrowdStrike points to ambiguity in cover
The industry needs to address accumulation risks, data gaps and further threats from large-scale events that are becoming more frequent.
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- August 8 2024
Australian government raises national terrorism threat level to ‘probable’
This is an indication of more than a 50% chance of an onshore attack, or an attack being planned in the next 12 months..
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- August 8 2024
Tax breaches main driver of APAC M&A insurance losses in 2023: Marsh
While tax accounted for 32% of all W&I claim notifications in the region last year, other categories such as compliance (15%), employment (15%), and material contracts (23%) are also becoming more frequent.
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- August 7 2024
Munich Re, SBI General Insurance to lead Indian state’s parametric rainfall cover
The Nagaland State Disaster Management Authority has appointed the two as the lead reinsurer and insurer to enhance the North-Eastern Indian state's resilience against excess rainfall.
