Country: Asia Pacific Page 149 / 585
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- July 2 2024
Japan hailstorm stands as only billion-dollar Asia nat cat event in Q2: Cresta
Together with Japan’s Noto earthquake, the world's nat cat events with billion-dollar insured loss totalled four in the first half of 2024.
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- July 2 2024
China Life P&C H1 cumulative claim payment rose 12% to US$4.6bn
The P&C arm of the world's second-largest life insurer said the bulk of 2024 H1 cumulative claim payment came from motor insurance, as it settled US$88m in nat cat related claims.
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- July 2 2024
AIG elevates Louise Wai as head of commercial property, Singapore
Wai rejoined AIG in April 2024 as underwriting manager for commercial property in Singapore. In her new role she reports to Scott Spaven, AIG Singapore president and CEO.
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- July 2 2024
RGA, Tongyang Life ink first cross-jurisdictional coinsurance deal in Korea at US$144m
The deal, which will allow an RGA subsidiary to reinsure a US$144m block of life policies, is expected to help Tongyang Life respond to future interest rate volatility.
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- July 2 2024
Lockton Singapore taps WTW’s Sung Wook Han as regional head of marine for Asia
Han will relocate from London to manage marine teams across Asia with a special focus on Singapore.
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- July 2 2024
Steadfast Group expands Australasian networks, broker and insurer services team
Kasun Jayaratne has been promoted to a newly created role of general manager of Australasian networks, broker, risk & insurer services, while Bronwyn Brownlee joins as risk services national client service manager.
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- July 2 2024
Koo Kang Wuu joins Munich Re Syndicate Labuan as managing director
With a background in direct and facultative (re)insurance, Koo will be responsible for driving specialty insurance growth in Malaysia.
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- July 2 2024
WTW reels in Aon’s James Baum to lead Australia and New Zealand
Sydney-based Baum, who was most recently global head of wholesale and specialty broking at Aon, will join WTW as head of Australia and New Zealand and head of corporate risk and broking for the region, effective July 15.
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- July 2 2024
APAC pricing stabilises at 1.7 renewals as global capacity hits record US$695bn
With more capital coming to the table, reinsurance rating reductions were in order, though loss-affected territories bucked the wider trend.
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- July 2 2024
Envest appoints ex-Honey Insurance Eoghan Trehy to lead Resilium Partners
The M&A arm which specialises in investing in authorised representatives has hired Trehy as part of its senior executive team, which includes managing director Ben Hastie, and new head of finance Clive Kingsley.
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- July 1 2024
Lloyd’s syndicate Argenta Underwriting closes Sydney office
The decision follows “a review of the group’s underwriting activities in Australia’, and the Sydney business will be managed from London, it said.
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- July 1 2024
BMS expands Japan M&A insurance team with a senior appointment
Tokyo-based Ryo Iizuka, who joins as director of the private equity, mergers & acquisitions, and tax, will report to Tim Hewitt, head of BMS Japan, and work alongside associate Kaori Iwai.
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- July 1 2024
Miller hires veteran Kazuhiko Shinkai as head of non-marine Japan strategy
Shinkai joined from Japanese multinational group Itochu Corporation where he held a range of management roles.
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- July 1 2024
Third loss estimate for Australia Christmas storms exceeds US$1bn: Perils
The bulk of the loss was incurred by personal lines property losses, followed by commercial lines property and motor losses.
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- July 1 2024
Hong Kong risk-based capital regime rollout marks milestone: Insurance Authority
The introduction of the RBC regime will strengthen the financial soundness of insurers and solidifies Hong Kong’s role as a global insurance hub, the regulator said.
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- July 1 2024
New Zealand Treasury set to review levy settings for Natural Hazard Fund
The review comes amid a name change of the Earthquake Commission (EQC) as Natural Hazards Commission Toka Tū Ake,
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- July 1 2024
Gen AI prophecy turns reality as insurers count cost benefits
Artificial intelligence, blockchain and embedded solutions are delivering tangible cost savings and enabling more competitive premium rates, senior insurance executives told an industry forum.
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- July 1 2024
Howden Specialty ropes in Kenny Moyes from Aon for APAC director role
Moyes joined the global broker from Aon Reinsurance Asia, where he was a facultative director.
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- June 30 2024
China revises emergency response law to alleviate nat cat shocks
The revised law calls for the establishment of a nat cat risk insurance system based on market principles, and instruct local governments to take out personal accident insurance for rescue teams.
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- June 30 2024
AIG hires Stephen Hanna as head of energy and construction, Pacific
Sydney-based Hanna joins after seven years at Chubb Insurance as ANZ manager, energy and technical lines.
