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- September 25 2024
Typhoon Pulasan exacerbates Bebinca losses in China
The cumulative effect of losses from both typhoons in the country, added to losses from Yagi in South China, is more serious compared with the previous two years and will naturally impact the financial performance of (re)insurers in 2024, according to loss adjusters in China.
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- September 24 2024
BMS New Zealand expands North Island team with Aon hire
Tim Emms will join the firm as an executive broker for its Auckland team and will be working with Nathan Richmond who assumed regional director role on May 1.
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- September 23 2024
Aon promotes Jon Pipe to Asia head of commercial risk
Pipe, who has been CEO and principal officer of Aon India Insurance Brokers, will continue to work alongside Rishi Mehra and the India leadership team to ensure consistency and continuity.
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- September 23 2024
Tower raises cat reinsurance excess for first two events to US$11.7m
An excess for a third event remained unchanged at US$12.5m, while the Kiwi P&C player has increased its upper cat limit to US$500m from US$468m for FY2025.
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- September 23 2024
Japan’s flooding and landslides cause power cuts, casualties in quake-hit Noto Peninsula
More than 100,000 people have been ordered to be evacuated in Ishikawa and Kumamoto prefectures with 6,000 households left without power Japan and train services suspended as Japan Meteorological Agency issued its highest "life-threatening" alert level following torrential rains in the region.
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- September 19 2024
Swiss Re CorSo promotes Karim to APAC head of customer & distribution management
Singapore-based Hassan Karim was most recently the carrier's head of distribution management and partnerships (director) for Asia Pacific.
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- September 17 2024
Suncorp CEO Steve Johnston to chair ICA board
Johnston, who joined the ICA board as director in August 2021, will begin his term as chair on January 1, 2025, succeeding Nick Hawkins, IAG managing director and CEO, who has served as president of the board for the past two years.
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- September 17 2024
Howden expands Australia presence with Collegial Insurance’s portfolio acquisition
Collegial was founded in 2015 by director Russell Farrington and has a diverse portfolio ranging from listed corporates to SMEs.
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- September 16 2024
Japan’s big 4 submit progress of business improvement plan to FSA
Tokio Marine & Nichido Fire Insurance, Sompo Japan and MS&AD's subsidiaries Mitsui Sumitomo Insurance and Aioi Nissay Dowa Insurance' measures to improve compliance, audits throughout the year, and new bottom-line indicators that reflect profitability.
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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.
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- September 6 2024
Public-private partnership key to closing cyber protection gap: Zurich and Marsh McLennan
As the global cost of cybercrime is projected to nearly triple to US$24 trillion by 2027, the public and insurance sectors must enhance their collaboration, the two firms said in a jointly launched white paper.
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- September 4 2024
Gallagher promotes John Li to APAC client director
Perth-based Li joined the broker in February following its acquisition of mining specialist Ansin Insurance Brokers, whic he founded in 2019.
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- September 4 2024
India deal activity drives demand for W&I cover, competition in Singapore
The increasing deal flow combined with ample insurance capacity and more scrutinised approach to risk in the country means more underwriters are likely to enter the M&A insurance space over the next six months.
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- September 2 2024
Miller expands sports and entertainment offering into APAC with senior hire
Siva Krishnan will head the new line in the region focusing on live events, sporting events and tours, sport associations and film & TV.
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- September 2 2024
Typhoon Shanshan set to trigger significant BI, property losses, weigh on reinsurance market
While the impact on reinsurance is unclear now, repeated or severe cat events in the area in the future may prompt reinsurers to reduce their underwriting commitments or increase premiums.
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- August 30 2024
Aon’s White Rock sues China Construction Bank over Vesttoo fraud, claims US$140m
The lawsuit is another step to maximise recoveries for clients impacted by the Vesttoo fraud and make the bank accountable for the harm it has caused, Aon spokesperson told IAN.
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- August 29 2024
Australian carriers’ H1 2024 capacity ample except for PFAS, US exposures: Marsh
The first half of the year saw improvement in market competition and the return of insurer choice for buyers, which had not been generally seen since 2017.
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- August 29 2024
Typhoon Shanshan makes landfall in southern Japan as auto plants shut down
The typhoon landed in Kagoshima prefecture, leading to the shutting down of plants by Toyota and Nissan, cancellation of hundreds of flights and suspension of high-speed train services.
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- August 29 2024
Euclid Transactional confirms Asia Pacific launch
The M&A-focused MGA's plan to launch services in Asia and to appoint Alice Ho as head of APAC was first reported by InsuranceAsia News last August.
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- August 28 2024
Tune Protect H1 2024 insurance revenue drops 15.2% to US$43.7m
Its COR deteriorated to 107.5% versus 95.4% in H1 2023 due to the higher net incurred claims and attributable expenses.
