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- September 30 2024
Typhoon Krathon expected to make ‘rare’ direct hit on Taiwan’s western plains
The tropical storm, likely to intensify into a super typhoon, is forecast to hit the major port city of Kaohsiung early on October 2 and make its way to Japan.
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- September 27 2024
Typhoon Yagi triggers first-ever insurance payout for Red Cross’ global disaster fund
Asia's most powerful typhoon this year has tipped the disaster response fund run by International Federation of Red Cross and Red Crescent Societies over the deductible threshold at US$38.9 million, triggering its first-ever payout.
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- September 26 2024
Axa XL appoints Priscilla Yeung as property underwriter in Hong Kong
Yeung joins the specialty (re)insurer from Allied World, where she was a senior underwriter.
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- September 26 2024
West P&I promotes Cai Xuanlun to CEO for Hong Kong office
Cai replaces Robert Macnamara, who was the chief executive for the IG P&I Club in the city for 28 years, and will start in the role in December this year.
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- September 26 2024
WTW launches new China client division with Jie Yan named as head
New York-based Yan has been promoted to head the newly launched division after having assumed various senior roles at the global broker over the past 11 years.
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- September 26 2024
Australian brokers’ reported breaches in 2023 up 36% with US$6.5m impact on clients: IBCCC
In the 2023 Annual Data Report, the independent body tasked to monitor practitioners' compliance with the Insurance Brokers Code of Practice in Australia also highlights its concerns on brokers' failure to disclose their commissions to over 8,000 clients.
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- September 24 2024
Howden Pacific builds out construction practice with Alistair McBride hire
Melbourne-based McBride, who will head the broker's regional business, has been in the construction sector since 2013, having various roles in underwriting and broking across the New Zealand, London, US, and Canada markets.
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- September 23 2024
Swiss Re CorSo elevates Devpriya Misra to APAC and global client solutions lead
Singapore-based Misra, who has been with Swiss Re CorSo for almost nine years, was most recently regional head customer management APAC for the firm.
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- September 23 2024
Typhoon Yagi to drive reinsurance premium, deductible increases in Vietnam and beyond
Premiums increases that will allow the carriers to cover costs and mitigate future risks are likely to be particularly evident in high-risk areas, such as coastal provinces in the north.
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- September 18 2024
Crawford launches dedicated logistics, transportation & freight division in Singapore
The service will address complex claims arising from the logistics and freight sector, requiring adjusters familiar with marine and transportation industries.
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- September 18 2024
American bond insurance specialist BAM launches in ANZ
The monoline mutual will focus on energy transition and social infrastructure projects in the region.
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- September 18 2024
Analytics: APAC 2023 marine premiums up 7.5% as global trade recovery drives cargo insurance growth
While the upswing in trade is expected to help premium growth and and the overall claims impact remained stable, uncertainty posed by geopolitical tensions and regional economic outlook could impact the sector.
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- September 16 2024
Swiss Re elevates Seng Lee to co-head corporate development
The Hong Kong-based M&A specialist has been managing director for the reinsurer since August 2022.
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- September 16 2024
Typhoon Yagi inflicts US$1.6bn in damages to Vietnam, to impact GDP growth
The super storm impacted 26 Vietnamese localities that collectively represent 41% of the country’s GDP and 40% of its population.
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- September 13 2024
Super typhoon Yagi hit Vietnamese insurers with US$285m in claims payout
PVI Insurance, the largest non-life carrier, called it "a historically undesirable loss for Vietnam’s insurance industry" and for the company. The 9,000 claims filed are expected to keep rising, Ministry of Finance said.
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- September 12 2024
Thai insurers brace for losses as Yagi remnants raise flood risk
Thailand’s meteorological department said more heavy rain is expected until September 18 with the risk of flash floods, as a northern monsoon trough is moving down and a southern one is gaining strength.
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- September 12 2024
Captives pivotal to development of Belt & Road green energy projects: HKIA panel
The SAR seeks to be the preferred captive domicile to manage risks from overseas renewable energy projects, participants at a Belt & Road summit moderated by the city's Insurance Authority heard.
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- September 10 2024
Sri Lankan People’s Insurance pressured by underwriting profitability: Fitch Ratings
The rating agency has affirmed its financial strength rating of “A-” and “stable” outlook, reflecting its favourable regulatory capital position compared to other domestic non-life insurers.
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- September 10 2024
WTW launches dedicated tech industry practice for ANZ to boost specialty services
As part of its corporate risk & broking business in Australia and New Zealand, it has appointed cyber and tech risk specialist Ben Di Marco as division head.
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- September 10 2024
Typhoon Yagi losses may drive up rates, tighten treaty terms in Vietnam
Insured losses are climbing as carriers in China, Vietnam and the Philippines count the damages after the region's strongest storm this year destroyed houses, factories, infrastructure and crops across the three countries.
