Country: Asia Pacific Page 118 / 501
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- November 1 2023
Floodbase and Ag Guard tie-up for parametric agri cover in Australia and New Zealand
The products are scheduled to be available in 2024 and will offer region-specific pricing that trigger payouts automatically when flooding exceeds predetermined thresholds.
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- November 1 2023
APRA applies US$12.7m capital requirement to RAC Insurance after governance review
A review by the regulator revealed significant weaknesses in areas of outsourcing controls, conflict management and board decision making at the Western Australia motor insurer.
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- November 1 2023
SIRC: ‘There are more purchases towards the capital piece than the earnings piece’ — Gallagher Re’s Mark Morley
The broker's head of Asia Pacific is looking for a 'more nuanced approach' to the upcoming 1.1 renewals as it targets ‘ambitious’ growth around the region.
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- November 1 2023
SIRC: Renewables, underinsurance, nat cats and cyber risks are reinsurance’s APAC focal point — CEOs
The panel, chaired by James Vickers, international chairman at Gallagher Re, was Renaud Guidée, CEO - reinsurance, Axa XL, Achim Kassow, member of the board of management, Munich Re and Swiss Re's Urs Baertschi, CEO, P&C Reinsurance.
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- October 31 2023
ICA accepts seven recommendations from post-flood review
Global consultancy Deloitte has highlighted several areas where insurers fell short of best practices while dealing with the February to March 2022 floods.
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- October 31 2023
AXA XL | Battery-powered ships: Moving from the drawing board to the seas
Electric ferries are increasing in popularity but there is plenty of work ahead to move away from ships using heavy diesel oil.
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- October 31 2023
Allianz Trade’s Tricia Koh named commercial director for Hong Kong, Taiwan and South Korea
Koh is replacing Hassan Omaish who has taken up the role of global head of brokers and partnerships from Paris.
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- October 31 2023
Markel makes three appointments in Australia
Ahmed Farag joins as head of casualty, Kym Beazleigh becomes head of professional and financial risk and head of Sydney and Arné Booysen a senior PI underwriter.
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- October 31 2023
SIRC: Low-level aggregate covers will not be in our appetite — Hannover Re’s Sharon Ooi
Talking to IAN, Ooi, who oversees APAC, says markets that don’t want to address pricing disconnects will struggle, but that she expects 'disciplined' capacity to be available.
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- October 31 2023
SIRC: SIRC kicks off with focus on Asean co-operation, data and cyber, climate risks
Ravi Menon, managing director of the Monetary Authority of Singapore, warns there is not enough data on economic exposure to perils such as nat cats and cyberattacks.
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- October 30 2023
SIRC: Reinsurance capacity squeeze higher this year for APAC insurers — Gallagher Re
The region's insurers are optimising their balance sheets and considering new operating models, according to the global broker.
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- October 30 2023
Craig Buckle to lead Lockton New Zealand from January
The head of the corporate risk business division replaces the retiring Peter Lowe as chief executive from the beginning of 2024.
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- October 30 2023
APAC political violence and terrorism price hikes, cover squeeze to continue
The fast-moving situation in the Middle East is causing a further strain on the market hit by the war in Ukraine, according to WTW and HDI Global.
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- October 27 2023
Perils increases south-east Australia flood loss estimate to US$613m
The October event mainly impacted Victoria and NSW with property losses contributing 91% of the loss, while 9% were motor losses.
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- October 27 2023
Asian reinsurers will continue to post underwriting losses through 2024: S&P Global
These carriers have not yet managed to fully pass through higher retrocession costs to the direct insurers.
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- October 27 2023
Portfolio rejig to benefit Starr International Insurance Thailand: AM Best
The rating agency has assigned an insurer rating of A- (excellent) with a stable outlook.
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- October 27 2023
Sompo continues Singapore build-out with Paddy Harman hire
He joins from Allianz as a senior underwriter in Sompo's credit & political risk team as the specialty player expands its APAC commercial P&C capabilities.
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- October 27 2023
Australian carriers brace for claims as deadly bushfires rage across New South Wales, Queensland
With over 100 fires burning, several dead, homes burned down and thousands of hectares of land destroyed, it is being described as the worst fire season since the 2019-20 black summer.
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- October 27 2023
Marsh launches Japan JV broker targeting mid-to-large firms: report
The combination between MST and Marsh will focus on firms with annual sales of between US$200m to US$1.3bn.
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- October 26 2023
AIG names Cynthia Sze general manager for Hong Kong and Macau
Hong Kong-based Sze was most recently AIG's head of financial lines for Hong Kong, Macau, Taiwan and China.
