Country: Asia Pacific Page 112 / 516
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- February 14 2024
Tasmania puts fire tax reforms on hold: reports
Insurance Council of Australia called the move “profoundly disappointing” and unfair, as the fire service levy adds up to 28% to the cost of a diverse range of commercial policies.
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- February 14 2024
Australia Christmas storms losses at US$906m: Perils
The initial estimate includes losses from damages of property and motor hull lines of business and will be updated on March 29, 2024.
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- February 14 2024
Fairfax-backed Go Digit gets IRDAI approval for US$150m IPO
The Indian digital insurer's listing plan was delayed after the insurance regulator issued a show cause notice in October 2023, the latest clearance from the insurance regulator now clears one hurdle in its path towards an IPO.
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- February 14 2024
P&I renewals slowed down by geopolitical unrest and inflation
Asia is again to play a big part in these renewals, as almost half of the clubs’ tonnage comes from the region, and is one of the biggest growth drivers for most clubs both for existing and new members.
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- February 14 2024
WTW strengthens Korea, Vietnam offerings with co-brokerage deal
The broker has signed an arrangement with New York-based Solomon Agency to provide insurance solutions to North American exposures of companies headquartered in the region.
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- February 14 2024
Storms in Victoria leave half a million homes, businesses without power: reports
Strong winds and lightning caused widespread damage to the power infrastructure in Australia's second-most populous state.
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- February 13 2024
FSA orders Japan big four carriers to step up cross-holdings divestment: report
The four major non-life players at the centre of the price-fixing scandal must speed up unwinding their cross-shareholdings as the regulator tightens it scrutiny, Nikkei Asia reported.
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- February 9 2024
New Zealand bans ‘forever chemicals’ in cosmetic products from 2027
The decision puts the spotlight on exclusions to claims from exposure to PFAS, which as IAN reported recently has yet to find many takers in Asia Pacific.
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- February 9 2024
WTW expands Australasia fac team with Guy Carpenter hire
Sydney-based Michael Lazarus will join the broker's facultative team in Australasia as associate director
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- February 9 2024
BHSI strengthens Australia A&H team with senior hire
The specialty (re)insurer has appointed David Foote as executive underwriter, accident & health.
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- February 9 2024
Chubb’s Greenberg flags up tail risks from Asian geopolitical escalations
In an earnings call following the global carrier's 'the best in the history' fourth-quarter results led by Asia, the chief executive warned of wider global implications of regional conflicts, but reassured that 'all sides are seeking stability'.
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- February 9 2024
Envest merges three insurance brands to create an SME specialist
The Australian broking group brings together Fitzpatrick & Co, Arete Risk and Amicus to create a full-service insurance broker with specialist SME and corporate focus.
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- February 9 2024
Fitch slashes Indonesian insurer Eka Lloyd’s outlook on lower capitalisation
The Indonesian insurer's “BBB+” rating is affirmed. Still, credit insurance, which accounts for the bulk of its premium, could add volatility to its reserve.
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- February 9 2024
Pacific Prime makes Australia foray with senior hire
The broker has appointed Melbourne-based Honan Financial veteran Michael Atta as head of employee benefits.
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- February 8 2024
Marsh elevates Craig Claughton to finpro chairman for Pacific
Sydney-based Claughton was most recently head of financial and professional lines for the broker.
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- February 8 2024
AIG promotes Scott Spaven as chief executive for Singapore
Spaven has been promoted to the top job from head of commercial insurance & client and broker engagement in Singapore.
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- February 8 2024
Fosun revives Peak Re sale process: report
The Chinese conglomerate has mandated BNP Paribas to find a buyer for a majority stake in the business and is seeking a US$1bn valuation, a Bloomberg report said.
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- February 8 2024
Aon hires head of cedent facultative from Howden Specialty
Based in Singapore, Jack Eccles will be in charge of leading and developing the broker's cedent facultative proposition.
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- February 8 2024
WTW appoints Starr’s Ryohei Nakazawa as Japan head
Based in Tokyo, Nakazawa will start on April 1 and will also head the broker's corporate risk and broking team.
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- February 8 2024
Panama Canal drought exacerbates supply chain woes for shippers hit by Red Sea troubles
Marine insurers fear further delays as canal disruptions impact Asian trade routes and the global supply chain as vital Asian goods remain gridlocked, say IUMI executives.
