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- December 1 2023
Honan’s Fluitsma joins Marsh as brokers complete merger
Andrew Fluitsma will take charge as Marsh’s Pacific head of corporate and commercial.
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- November 30 2023
RACQ hit with US$6.6m penalty for pricing misconduct
Tthe Australian Federal Court found that the mutual insurer misled customers about discounts available for motor, home, caravan and trailer and unique vehicle insurance policies.
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- November 28 2023
IAG blames Credit Suisse’s due diligence failures for Greensill losses: reports
The insurer, in an Australian court filing, said that the Swiss bank should have known that the Bond and Credit company did not have the authority to issue the policies.
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- November 27 2023
Renewals will be late again as carriers wait and watch, says Peak Re’s Nowakowski
As renewals discussions gather pace, no one is expecting any softening and there isn't really any significant new capacity coming to the market, according to the chief underwriting officer.
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- November 23 2023
Tower’s FY 2023 COR at 101% as large events cost triple to US$33.6m
While the New Zealand insurer's GWP grew 17% to US$319m, its underlying profit fell 72% year-on-year hit by large losses from January and February weather events.
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- November 23 2023
Australia commits US$385m for 2030 cybersecurity strategy
"We are rallying our international network of cyber guns to help break the business model of ransomware and cybercrime," says home affairs minister Clare O’Neil.
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- November 22 2023
Markel set to build out marine cargo, general casualty lines in Asia
The specialty (re)insurer's underwriting leaders discuss the carrier's regional growth plans, Australian ambitions and India outlook.
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- November 20 2023
Kiwi carrier Tower exits commercial farm insurance
Commercial rural clients will be referred to AonAgri from February 1 as the carrier focuses on its direct personal and small business lines.
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- November 20 2023
Japan’s big three script domestic underwriting rebound
Rate increases, absence of Covid-19, large nat cat losses and increased investment income help Tokio Marine, MS&AD and Sompo improve their earnings in the first half of FY 2023.
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- November 17 2023
MS Amlin turns around underwriting performance with 91.6% COR
The Japanese insurance group's overseas business saw its net premiums for the first six months grow 45% year-on-year to US$4bn.
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- November 16 2023
New South Wales’ emergency services levy reform to lower insurance costs
The abolition of the levy on insurance is expected to lower the cost of home cover by up to 15% on average, and for business cover by around 23%, according to the ICA.
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- November 16 2023
Envest secures ‘substantial investment’ from a 15% stake sale to Macquarie
The transaction values the Ardonagh-owned insurance investment and distribution group at more than US$646m.
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- November 15 2023
KB Insurance completes US$100m loss portfolio transfer deal with Swiss Re
With the Howden Tiger arranged deal, the Korean carrier will transfer its US commercial multiperil and workers’ compensation lines' net loss and unearned premium reserves to the reinsurer as part of the insurer's US branch wind down plan.
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- November 15 2023
Opinion: Government intervention key to addressing APAC’s insurability challenges
As insurers grapple with secondary perils, governments, especially in emerging Asia, need to look at prevention not cure.
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- November 14 2023
Canopius’ Mark Newman to take charge as UK CEO
The (re)insurer's APAC chief executive will assume his new role on January 1, 2024.
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- November 14 2023
ICA panel to review general insurance code
The three-person panel led by former APRA deputy chair will complete the review in two phases deliver its findings by June 30, 2025.
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- November 13 2023
IAG joins Australian cyclone reinsurance pool
The carrier's brands will pass on savings from the pool to new customer policies and renewals for home, commercial property, residential strata and landlord policies.
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- November 13 2023
BOC Aviation gets US$208m settlement for jets stranded in Russia
The lessor would reportedly abandon legal claims after Russian airline Aeroflot clinched a deal with insurer NSK to pay off the Chinese company.
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- November 10 2023
Marine war premiums climb after fatal strike on Philippines-owned bulk carrier: report
Premiums have risen to 3% of the value of the vessel from around 1% before the attack on the vessel, which was insured for US$15m and damages seen at US$4m without liabilities for the crew, the report said.
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- November 9 2023
Axa XL appoints Adias Gerbaud as CUO for APAC, Europe
She assumes the role from Etienne Champion, who is taking on a new position at Axa Group as P&C Commercial Lines group chief underwriting officer.
