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- December 10 2024
IAG subsidiary hit with yet another class action suit over ‘loyalty tax’
The insurer says it will defend the second group proceeding commenced by Slater and Gordon this year.
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- December 9 2024
China to ‘open up’ to foreign P&C players as part of industry reform action plan
The NFRA plan for the industry will also support the development of Hong Kong as an international financial centre.
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- December 9 2024
Exclusive: Marsh McLennan Hong Kong and Macau CEO Rohan Bhappu departs
Bhappu was given regional chief executive-level role last year as part of a group-wide senior management overhaul.
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- December 9 2024
KDIC picks Meritz Fire & Marine as preferred bidder for MG Non-Life sale
The bidder gets an exclusive negotiation period to complete the acquisition of the state-owned insolvent carrier.
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- December 9 2024
Exclusive: APAC head Simon Weaver to leave WTW
Singapore-based Weaver has been in charge of the broker's corporate risk and broking business for Asia Pacific since January last year.
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- December 4 2024
WTW to re-enter treaty reinsurance broking with Bain Capital JV
The broker will hold a significant minority interest, and over time, it may obtain control and acquire complete ownership.
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- December 3 2024
Aon hands Anne Corona global leadership role
The APAC head has been named CEO of enterprise clients and global chief commercial officer, effective January 1 next year.
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- December 2 2024
Tokio Marine puts Korean reinsurance business in run-off as part of strategic shift
Despite this retreat, the company says it remains focused on pursuing bolt-on acquisitions that align with its overseas growth goals.
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- November 29 2024
Sedgwick’s Stephen Kerr to take over from Veronica Grigg as Asia CEO
Singapore-based Kerr was Asia chief operating officer for the loss adjuster.
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- November 28 2024
White Oak accuses Marsh of ‘fraudulent misrepresentation’ in Greensill case: report
The US investment firm has escalated its claims against Marsh in London lawsuit based on emails and phone call records showing the broker's executives appear to have privately expressed alarm about growing issues with the authority of BCC.
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- November 28 2024
Tower reports strong underwriting gains, COR falls to 79% amidst no major events
The New Zealand insurer's turnaround was primarily due to no large cats in the financial year, driving its NPAT to US$49m up from US$4m a year ago.
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- November 28 2024
Typhoon Yagi losses set to reshape Vietnamese (re)insurance market
With insured losses likely to add up to a decade’s industry profit, the market could see rates and retentions increase and accelerate the shift to XoL structures.
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- November 28 2024
IAG to acquire RACQ insurance business for US$555m
The Australian insurer will enter a 25-year exclusive strategic alliance to provide the mutual's general insurance products and services for the members and Queenslanders.
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- November 28 2024
Sompo targeting US$1bn GWP growth from overseas business by FY 2026
It continues to eye geographic expansion and is actively working on M&A, the Japanese insurer said in its mid-term management plan.
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- November 27 2024
Japanese, Korean trade insurers face US$100m+ exposure in Northvolt bankruptcy: report
The government-owned credit guarantee agencies NEXI and K-Sure had covered loans to the Swedish battery maker that filed for a Chapter 11 reorganisation in the US.
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- November 22 2024
Chaucer Singapore expands political risk underwriting with Axa XL hire
The China Re-owned Lloyd's player has appointed Jonathan Ng as class underwriter in political risk.
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- November 20 2024
Trebling of ‘nuclear’ verdicts in US challenges liability underwriters: Allianz
Apart from social inflation, the increasing complexity of pharma class actions, PFAS litigation and the growth of collective redress outside of the US are among the other trends creating difficulties for carriers, according to the report.
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- November 20 2024
Japan’s big three post US$8bn windfall from strategic holdings unwind
The major insurance groups also showed significant improvements in H1 CORs as they benefitted from benign loss environment at home and overseas and robust premium growth.
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- November 19 2024
Lloyd’s Asia set to see new entrants in 2025 as it races to US$1bn GWP mark
The platform is keen to attract local capital and create more opportunities for syndicates to collaborate across the APMEA region, says regional CEO Emma Loynes.
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- November 19 2024
Generali GC&C hires Nicholas Selff from Chubb as head of underwriting for Asia
Selff, who has relocated to Hong Kong, started with the insurer's leadership team on November 18.
