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- December 7 2023
Oona buys out InLife stake in Filipino general insurance JV
The Warburg Pincus investment vehicle will acquire the outstanding 40% stake in the non-life business that it had bought from Mapfre last year.
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- December 7 2023
Singapore, Hong Kong set to see wave of insurance M&A in 2024
A Clearwater Analytics survey of insurers and insurance asset managers in the region noted that PE firms have taken an increasingly positive view on the acquisition potential of carriers in the two cities.
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- December 6 2023
IAG general counsel Peter Horton leaves over ‘misconduct’
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
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- December 5 2023
Asean insurers resilient to impacts of inflation, monetary tightening: Malaysian Re
Carriers reacted with a mix of measures including price hikes, tighter terms, reallocation of capacity and screening of their portfolios, according to the reinsurer's annual Asean insurance pulse publication.
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- December 5 2023
Japanese trade insurer to cover US$680m loan for LNG purchases
In its first policy, the state-owned Nippon Export and Investment Insurance will cover a domestic credit facility to secure the country's energy supplies.
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- December 4 2023
Southern India braces for Cyclone Michaung
The south-eastern city of Chennai has been hit by heavy rainfall and flooding, reminiscent of a 2015 flooding that caused US$755m in insured losses.
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- December 4 2023
Lower regulatory costs, robust economy drive Indian non-life sector: AM Best
The rating agency revised outlook on India’s non-life insurance segment to stable from negative
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- December 4 2023
Quarter-million Australian properties exposed to 1-in-20 year flood risk: ICA
The industry group said in a submission to a parliamentary inquiry said New South Wales, Queensland and Victoria, respectively, were the most vulnerable.
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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.
