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- July 18 2023
Gallagher acquires Queensland broker Thompson Insurance
This is the second acquisition in the Sunshine Coast region which is anticipating higher economic development.
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- July 17 2023
Tokio Marine’s underwriting profitability to improve modestly: Moody’s
The rating agency affirmed the insurer a rating of Aa3, one notch above the Japanese sovereign rating of A1, with a stable outlook.
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- July 17 2023
Japan to offer trade credit insurance for LNG shipments
State-owned Nippon Export and Investment Insurance will cover lenders against political risks, including war, natural disasters, transfer/convertibility restrictions, and commercial risks.
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- July 14 2023
Nat Re to rejig portfolio with a shift to life business to improve profitability: AM Best
The rating agency has affirmed the reinsurer's rating of B++ (good) with a stable outlook.
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- July 13 2023
Reliance General Insurance owners’ lenders approve Hinduja takeover bid
The deadline to file the resolution plan with the National Company Law Tribunal is July 15.
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- July 12 2023
Allianz Australia to reorganise corporate structure
As part of the overhaul, the portfolio that was part of the erstwhile Westpac General Insurance will be transferred to the parent.
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- July 12 2023
Jacques de Vaucleroy proposed as next Swiss Re chairman
The board unanimously approved current vice-chairman de Vaucleroy's elevation following an extensive selection process launched since the departure of Sergio Ermotti in April.
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- July 12 2023
PasarPolis lands Allianz Indonesia CEO Peter Van Zyl as president
Jakarta-based Van Zyl will oversee the Indonesian insurtech's strategy as it looks to grow as a full-stack insurer.
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- July 11 2023
QBE launches full lifecycle renewable cover in Australia
The product will cover wind, solar, and battery storage facilities from construction to decommissioning and has plans to include hydrogen.
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- July 11 2023
China reopening to drive non-life growth as APAC nat cat protection gap widens
Swiss Re is forecasting emerging Asia to see non-life growth of over 6.5% in 2023 with global P&C premiums set to cross US$4tn this year.
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- July 10 2023
Allianz Commercial hires AIG veteran Christian Sandric, Mark Mitchell set to leave
Sandric is joining on September 1 as managing director for Asia, with Mitchell, AGCS Asia managing director, leaving the group.
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- July 10 2023
India to keep 4% obligatory cession for GIC Re: report
Under the right to first refusal, GIC Re has the first right to choose the reinsurance business from the general insurers and then it can be placed with other reinsurers.
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- July 7 2023
Indian non-life premiums grew 16.5% for H1 2023
General insurers wrote premiums worth US$7bn till June this year as against US$5.91bn in the same period last year.
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- July 6 2023
NZIA does away with emission targets for insurers
The UN said the protocol would now be "a voluntary best practice guide" for helping build and compare decarbonisation targets.
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- July 6 2023
Hong Kong passes insurance amendment bill to implement RBC regime
Insurance Authority will begin drafting detailed guidelines and requirements for the new regime, which is targeted for implementation in 2024.
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- July 6 2023
Cyclone Seroja damages at US$270m for Western Australia: ICA
With more than 10,000 claims from the 2021 event, the closing rate is 95.9%.
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- July 6 2023
Charles Taylor expands Singapore hub with veteran Stephen Thorpe in key role
Thorpe moves into a hybrid role with additional responsibility as the loss adjuster's managing director, Asia, property, casualty and special technical risks.
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- July 5 2023
Allianz Commercial Australia elevates Alison Brough as general manager-agencies
Sydney-based Brough was most recently head of underwriting services for the country, transitioning the commercial underwriting services team as part of the group restructuring.
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- July 4 2023
Suncorp drops aggregate cover, increases retentions and pays more at 1.7 renewals
The combined cost of the FY 2024 catastrophe reinsurance premiums and the natural hazard allowance is expected to increase by approximately A$250m or 12% from FY 2023.
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- July 4 2023
Tower continues Pacific restructuring with sale of Solomon Islands unit
Trans Pacific Assurance, which acquired the business, will retain the Kiwi carrier's staff and aims to complete the deal in 2023.
