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- March 14 2024
GSA Insurance Brokers overhauls senior management
Elyssa Johnson has been promoted as head of general Insurance, and Johnnie Keymer and Ben Rubio were elevated as joint-lead for professional and financial lines team.
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- March 13 2024
PSC Insurance confirms buyout talks with strategic partners
The company has mandated Goldman Sachs for the sale and has held informal discussions with Gallagher and Ardonagh Group, according to an Australian Financial Review report.
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- March 13 2024
McLarens promotes Andrew Brooke to managing director New Zealand
Auckland-based Brooke is replacing former managing director Dean Garrod who quit in February to pursue new opportunities.
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- March 12 2024
Australia unveils ‘grid’ for financial sector, offers transparent roadmap on regulatory changes
Insurance Council of Australia welcomes plans to introduce the new regulatory framework stating this would lead to greater efficiency, consistency and clarity for policymakers, regulators, and insurers.
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- March 11 2024
Overseas premium of Korea’s four major non-life insurers surpasses trillion-won milestone in 2023: report
The country’s big four have doubled their international business in the last five years led by DB Insurance, which accounts for 50% of the overseas premium.
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- March 8 2024
Hong Kong 2023 P&C underwriting profit down 81% to US$102m: HKIA
The sector's underwriting performance was hit by an increase in A&H claims, cat events and a reserve strengthening by the Hong Kong Mortgage Corporation due to the realty sector downturn.
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- March 8 2024
New Zealand regulator FMA files civil case against Tower for overcharging customers by NZ$10m
Financial Markets Authority has alleged that the company did not properly apply multi-policy discounts for about 65,000 customers from September 2016 onwards.
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- March 7 2024
Australia consults market on broadening standardised hazard terms beyond floods
The consultation paper highlighted a 50% jump in complaints regarding general insurance for delaying claims handling associated with major catastrophes in 2022-23.
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- March 6 2024
Reinsurance pricing likely to peak in 2024: Moody’s
The demand for reinsurance will remain robust in 2024, despite subdued economic growth, which will support strong sector earnings, according to a new global report.
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- March 6 2024
Marsh appoints Caitlin Carson as finpro corporate leader for Pacific
Carson has worked in various senior roles in Australia, including a 14-year stint at JLT Australia before it became part of Marsh in 2019.
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- March 5 2024
Fitch cuts Construction Guarantee’s outlook to stable on member firm’s debt woes
The rating agency has maintained its "A" rating due in part to its strong underwriting performance. Its combined ratio averaged 62% during FY 2020-2022.
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- March 4 2024
Charles Taylor expands APAC aviation team with two senior hires
Singapore-based Bob Battoo returns to Charles Taylor as managing director to lead aviation risk and claims team for the insurance and leasing markets; Dennis San Jose joins to launch aviation asset management service in the region.
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- March 4 2024
Insured losses from Australia summer cat events reach US$1bn: ICA
While damage from both Jasper and the Christmas and New Year storms was widespread across three states – Queensland, New South Wales and Victoria - the average claim cost was under A$10,000, lower than from similar events.
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- March 4 2024
Asei Indonesia to further reduce credit insurance exposure: Fitch
The rating agency has affirmed the carrier's 'A (idn)' rating with a stable outlook to the Indonesian insurer.
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- March 1 2024
Robust pricing, investments to boost FMG Insurance NZ earnings: AM Best
AM Best has affirmed an insurer rating of A (excellent) with a stable outlook, though a US$158m bill from the twin weather events last year burned a hole through its operating results.
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- March 1 2024
Allianz hires new head of motor fleet underwriting in Australia
Sydney-based Greg Steel has previously held senior positions at insurers such as IAG and Suncorp.
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- February 29 2024
Asia dominates world’s top-ten countries most exposed to weather perils: Swiss Re
In a ranking of 36 countries, the Philippines ranks as the most economically-exposed nation to climate change-induced property damage losses. Thailand, China, Taiwan, India also rank high.
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- February 29 2024
Chubb New Zealand country president Andrew Brooks leaves
Auckland-based Brooks has accepted a six-month contract role at Insurance Advisernet as national manager partnerships & development, effective March 4.
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- February 28 2024
Fusion Specialty announces new APAC M&A leader
Tokyo-based Steven Harwood has taken charge as APAC managing partner for the specialist MGA, overseeing operations from New Zealand to India.
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- February 28 2024
Marsh appoints Jason Howard as finpro risk management leader for Pacific
Sydney-based Howard will assume the new role in addition to his current position of chief client officer finpro - Pacific.