Country: Asia Pacific Page 53 / 501
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- August 13 2024
New Caledonia unrest claims hit global (re)insurers
Allianz reported about US$284m exposure to the event, with its reinsurance arm also seing losses from the event, while Hannover Re and Scor saw EUR90m and EUR42m in claims, respectively.
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- August 13 2024
Sedgwick strengthens Australia liability team with Crawford hire
Sydney-based Filip Damjanovski joined from Crawford & Co where he was a senior liability general adjuster.
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- August 12 2024
Korea may ask EV makers to declare battery suppliers as car fire claims pile up: report
Insurers have received 600 motor claims from a fire sparked by a Mercedes EV on August 1, forcing the government to consider regulatory changes including battery reliability certification.
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- August 12 2024
Australia’s Colonial First State seeks to add cat bonds to pension portfolio: report
Australian pension fund managers, including Insignia Financial's MLC Asset Management, see robust returns from allocating capital to insurance-linked investments.
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- August 12 2024
Guy Carpenter names Justin Ward as managing director-head of capital advisory, APAC
Singapore-based Ward takes over the role from Blake Dimitrijevic who will join Hannover Re Australia as managing director.
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- August 12 2024
QBE elevates Ed Rainsford to chief risk officer, Australia Pacific
Sydney-based Rainsford, who has been with the carrier for almost a decade, joins from the QBE group risk and compliance team where he has been the group chief compliance officer since July 2022.
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- August 12 2024
Meritz Fire enters fray for MG Non-Life Insurance: report
Private equity firms Dayli Partners and JC Flowers are the other two existing bidders in the race.
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- August 12 2024
Floss Cheng returns to Aon as Hong Kong head of claims
Cheng, who started his career as a manager at the global broker in 2012, was most recently leading the Hong Kong claims team at rival Howden.
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- August 12 2024
Mitsui Sumitomo Oceania hires David Hall as head of distribution
Sydney-based Hall joined from Envest where he was head of mergers, acquisitions and advisory for nearly two years from March 2022.
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- August 9 2024
Central Re’s non-life reinsurance leadership in Taiwan to sustain: AM Best
The rating agency has affirmed the financial strength rating of "A" (Excellent) with a stable outlook.
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- August 9 2024
Malayan Insurance’s underwriting to benefit from portfolio measures, retail growth: AM Best
The rating agency has affirmed its “B++” financial strength rating and “stable” outlook on the Philippines' non-life insurer.
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- August 9 2024
Allianz Australia promotes Scott Langtree to distribution manager for Queensland
Langtree, who has been with the insurer for eight years, will lead a team of account managers to strengthen the group’s relationship and position with its strategic partners.
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- August 9 2024
QBE strikes US$1.6bn loss portfolio transfer deal with Enstar, RiverStone
Enstar’s subsidiary will assume US$376m out of total net loss reserves for US commercial liability and workers' compensation risks, effective July 1, and will provide approximately US$175m of cover in excess of the ceded reserves.
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- August 9 2024
QBE doubles H1 net profit, COR improves 5 percentage points to 93.8%
The insurer's GWP grew 2% to US$13bn for the period, while its underwriting performance benefitted from lower cat claims, stable prior-year reserve development and rate increases.
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- August 9 2024
Marsh elevates Eliza Grant to head of transactional risk for Pacific
Sydney-based Grant joined Marsh in 2021 as a senior transactional risk advisor for private equity and M&A.
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- August 9 2024
Nexus strengthens Asia A&H reinsurance practice with Chubb hire
Low joins Nexus from Chubb where she was product manager, Bancassurance (Asia Pacific) for more than six years.
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- August 9 2024
Tower upgrades FY 2024 NPAT guidance to US$27m
The updated guidance assumes full utilisation of the FY 2024 large events allowance, which is set at US$27m.
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- August 8 2024
Zurich APAC H1 premiums up 9%, COR climbs marginally to 93.7%
Top line increase driven by strong retail growth, however, rising commission costs from a recovery in travel business in the region hurts bottom line.
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- August 8 2024
Asia’s buyer-friendly market to stay as pricing remains flat in Q2: Aon
US-related and nat cat-exposed property risks remained challenging across most markets in the region, although Hong Kong and China stood out with modest price reductions, the broker said in its Q2 market insights report.
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- August 8 2024
Japanese insurers to raise fire insurance premiums from October: report
The big four plans to corporate premiums by up to 15% because of deteriorating profitability in their fire insurance line.
