Country: Asia Pacific Page 93 / 515
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- May 6 2024
Torrential rain grounds air traffic, floods carparks in Guangdong, Hong Kong
Torrential rains brought localised floodings, inundated carparks in Hong Kong, and delayed flights in the Guangdong province, hitting a surge of weekend travellers who visited China coastal cities during the long May-day holiday.
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- May 6 2024
Australian cyclone pool’s aggregate building exposure exceeds US$1trn
Approximately 95% of the market in terms of premium has joined the ARPC as of December 31 with a total quarterly premium of US$156m.
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- May 6 2024
El Niño-aggravated extreme heat threatens Vietnam: national weather agency
The temperature in two towns reached 44 degrees Celsius last week and May weather is expected to be 1.5 to 2.5 degrees higher than in previous years, says National Centre for Hydro-Meteorological Forecasting.
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- May 6 2024
Indonesia’s Sulawesi island flood and landslide kill 14, damage over 1,000 houses
Floods as high as three metres swept 42 houses off their foundations, covered 13 sub-districts under water and mud and led to over 100 residents being evacuated.
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- May 3 2024
Allianz Australia-owned Club Marine names new CEO
The boat insurance specialist will be led Tim Wiles, who has been serving as the interim chief executive from November last year.
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- May 3 2024
Canterbury earthquake lawsuit going to appeals court may weigh on EQC reinsurance renewals
With the class action over underpayment of claims headed to the Court of Appeals, more claimants could join the litigation at a time when the New Zealand Earthquake Commission is looking to secure higher limits at the June 1 renewals.
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- May 2 2024
Peak Re reports best-ever net profit of US$200m in FY 2023, COR down to 87.3%
The Hong Kong carrier's reinsurance revenue saw a 14.6% year-on-year decline in FY 2023 at US$1.56 billion.
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- May 2 2024
Chubb elevates Christopher Thirlwall to Australia’s accident & health senior manager
A Chubb veteran for the past eight years, Thirlwall has been promoted to senior relationship manager in charge of leading key distribution strategies for the division.
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- May 2 2024
Australia’s FY 2023 nat cat insured losses at US$850m: ICA
Despite the year-end catastrophes, incurred claims in 2023 dropped 78% to AU$1.76bn, and claims recorded were 57% lower compared to 2022.
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- May 2 2024
IRDAI’s set to approve Hinduja‘s acquisition of Reliance Capital’s insurance units: report
The regulator's approval is key to the conclusion of Reliance Capital's ongoing bankruptcy proceedings within the time-frame prescribed by a local tribunal.
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- May 2 2024
Chubb promotes Kate Burke to international personal lines head for APAC
Singapore-based Burke will be responsible for growing the insurer’s motor, residential, specialty and high-net-worth business lines across the region.
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- May 2 2024
Markel’s Australian finpro build out bets on ‘harder’ mid-market PI
The carrier aims to grow its onshore footprint in the professional indemnity market in the next two to three years with “a real spread of risks” and eventually expand its portfolio into other financial lines segments when markets turn.
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- May 2 2024
Sedgwick builds specialised global aviation claims and adjusting service
The adjusting and surveying solutions will be offered from its hubs worldwide including APAC.
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- May 2 2024
Australian MGA Agile’s syndicate gets final Lloyd’s nod to start underwriting
Asta-managed Syndicate 2427 will focus primarily on Australia and New Zealand and write accident and health, aviation, casualty, construction, financial lines and property business.
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- April 30 2024
Singapore’s Income Insurance debut on digital securities exchange
Trading on platform AltaX provides liquidity to the insurer's almost 16,000 shareholders, who hold stocks valued at about US$619m.
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- April 30 2024
China’s insurers see US$96.5m in reported claims from week-long Guangdong rainstorm
As of April 28, a total of 34,700 cases were filed to insurers in the southern province of China and the carriers have paid out a third of it amounting to US$28.4m.
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- April 30 2024
HDI Global hires Richard Upton to head financial lines in New Zealand
Joining from Zurich, Auckland-based Upton will focus on building the company’s financial lines portfolio in the New Zealand market.
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- April 30 2024
APAC accounts for nearly half of global economic losses in Q1 2024: Aon
The global (re)insurance sector is bracing for an "extremely active" Atlantic hurricane season driven by record-breaking land and ocean temperatures.
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- April 30 2024
Australian MGA Market Lane expands New Zealand team with BHSI hire
Auckland-based Luke Scott joins as regional development manager for the MGA's specialty commercial insurance underwriter The Barn New Zealand and will help deliver broker partner solutions.
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- April 30 2024
Dual launches title insurance for real estate, M&A deals in select APAC markets
The MGA's new offering will focus on commercial property deals in Australia, New Zealand, Hong Kong, Singapore and M&A transactions will also extend to Japan and South Korea.
