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- May 15 2025
IAG’s 10-month nat cat bill at US$580m, tracking 22% below allowance
Its FY25 profit guidance in on course to increase by 12% to US$1.2bn.
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- May 15 2025
IAG to acquire RAC Insurance in US$870m deal
Deal includes a US$612m, 20-year exclusive distribution agreement with The Royal Automobile Club of Western Australia for RAC branded home, motor and niche insurance products.
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- May 14 2025
India approves 3 more Russian insurers to provide marine cover
Sberbank Insurance, Ugoria and ASTK have received approval to offer P&I coverage for tankers calling at Indian ports, according to Reuters.
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- May 14 2025
APAC faces billion-dollar economic losses from Q1 wildfires: Aon
The costliest event for APAC insurers was ex-Tropical Cyclone Alfred, while Myanmar earthquake was the costliest economic loss in the region, with damages expected to reach billions of dollars.
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- May 14 2025
Munich Re, Hannover Re report Asia growth despite falling rates
LA wildfires losses impact Q1 results, with Munich Re reporting US$1.2bn losses, while Hannover Re's costs top US$700m.
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- May 13 2025
Lotte Insurance plans capital raise as it postpones US$64m bond redemption: reports
Carrier's plans to exercise a call option ran into opposition from regulator FSS due to low capital ratio.
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- May 13 2025
APRA authorises IAG-backed CGU Australia as new general insurer
IAG had announced it will restructure CGU and WFI Insurance brands by centralising specialist expertise.
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- May 10 2025
Full capacity: Buffett touts Berkshire’s insurance edge as he calls time
In the latest issue of our Full Capacity newsletter, we look at Lloyd's new CEO, Munich Re Specialty's diversification in Asia, the war brewing in South Asia as well as a round up of the people moves from last week.
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- May 8 2025
IAG to centralise specialist functions of intermediated businesses CGU and WFI
As part of the revamp, the Australian insurer has appointed Fiona Geddes as executive general manager operations.
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- May 8 2025
Patrick Tiernan appointed Lloyd’s CEO, succeeding John Neal
Current chief of markets will start in the new role from June 1.
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- May 6 2025
Allianz Trade’s Rodrigo Jimenez to succeed Paul Flanagan as Asia Pacific CEO
Jimenez, who is currently regional commercial director for northern Europe with the trade credit insurer, will take charge on October 1.
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- May 6 2025
Stress test shows Kiwi insurers can meet claims in NZ$100bn earthquake scenario
New Zealand's central bank assessed the responses to a major earthquake and severe cyber-risk incidents by simulating an event well beyond insurers’ solvency requirements, modelled to cost around US$60bn.
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- May 5 2025
Sompo appoints Wei Beng Toh to APAC operational excellence role
Toh, who joins from Manulife as assistant vice president, will report to Kent Leong, head of regional project and commercial operations in APAC.
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- May 5 2025
Insurers call for advancing Australia’s resilience as Labor Party secures second term
Constructive collaboration between government, industry, and communities is essential in the face of more frequent and severe extreme weather, the Insurance Council of Australia says.
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- May 4 2025
MSIG Asia expands digital, corporate capabilities with 3 leadership appointments
Adrian Hill has been appointed chief digital and consumer officer, Enny Halim as chief corporate officer and Pearline Soh as head of digital marketing.
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- May 3 2025
Full capacity: California fires leave a scorched path
In the latest issue of our Full Capacity newsletter, we look at BMS' exit from Japan and Korea, Peak Re's new cat bond, calls levelling the P&I playing field, our latest report on energy transition as well as our weekly roundup of people moves.
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- May 2 2025
Mobile plant specialist UAA renews 10-year capacity agreement with QBE
Binder agreement also provides capacity to the New Zealand arm of the Steadfast-owned underwriting agency.
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- May 2 2025
Howden Re promotes Cynthia Cui to head of fac for APAC
Singapore-based Cui, who has been at the broker since 2021,will drive expansion cedent facultative reinsurance business in the region.
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- April 30 2025
Peak Re’s US$50m cat bond bring ‘fresh capacity’, covers peak Asia scenarios
Hong Kong reinsurer's new ILS offering supports its ability to grow into its key markets of Japan, China and India.
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- April 30 2025
Peak Re closes US$50m multi-peril cat bond securing Japan, China, India protection
The bond is the second insurance-linked security offering by the Hong Kong reinsurer.
