Country: Australasia Page 21 / 102
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- March 21 2024
Bond & Credit Co exec breached underwriting limits in Greensill deals: report
Court documents obtained by the Australian Financial Review showed that Tokio Marine had self-reported the issue to regulators nine months before the financier’s collapse.
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- March 21 2024
New Zealand court overturns tribunal’s imposition of new obligations on home insurance claims
Canterbury Earthquakes Insurance Tribunal in 2022 ordered that IAG New Zealand had to pay all repair costs upfront upon entering a building contract.
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- March 20 2024
Kiwi insurers settle 91% of US$2.3bn in claims from Cyclone Gabrielle and Auckland flooding: ICNZ
The carriers have settled 106,891, of 117,414 claims valued and have so far paid out US$1.85bn (82%) for both events, with residential house claims at 92%, and both contents and motor at 94% fully settled.
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- March 19 2024
El Niño is near its end, says Australia’s weather bureau
While the weather phenomenon is expected to continue till end-April, climate agencies are flagging up risks of La Niña developing by the southern hemisphere winter.
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- March 18 2024
Australian MGA Agile gets nod to launch Asta-managed Lloyd’s syndicate
Syndicate 2427 plans to start services in April and has appointed Mark Hunt as active underwriter; it is targeting a GWP of US$43.4m for 2024.
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- March 18 2024
Richard Klipin succeeds Phil Kewin as NIBA CEO
Kewin will remain as CEO in the interim until Klipin assumes his role in end-May.
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- March 15 2024
Chubb elevates Nikki Quain to New Zealand property manager
Auckland-based Nikki Quain will lead the strategy and growth for Chubb New Zealand’s property portfolio.
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- March 14 2024
Honan COO Laurence Basell to lead strategy for Marsh Australia and New Zealand
Melbourne-based Basell started in his role earlier this month following the completion of the Australian intermediary’s merger with Marsh.
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- March 14 2024
HDI Global names Paula Ritchie head of single risk for Australia, New Zealand
Joining from Arch Insurance Australia, Ritchie is tasked with expanding the the specialty insurer's offerings in the region.
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- March 14 2024
GSA Insurance Brokers overhauls senior management
Elyssa Johnson has been promoted as head of general Insurance, and Johnnie Keymer and Ben Rubio were elevated as joint-lead for professional and financial lines team.
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- March 13 2024
PSC Insurance confirms buyout talks with strategic partners
The company has mandated Goldman Sachs for the sale and has held informal discussions with Gallagher and Ardonagh Group, according to an Australian Financial Review report.
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- March 13 2024
McLarens promotes Andrew Brooke to managing director New Zealand
Auckland-based Brooke is replacing former managing director Dean Garrod who quit in February to pursue new opportunities.
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- March 12 2024
Canopius 2023 net profit soars on improved Australia business, fewer cat events
The global specialty and P&C (re)insurer said fewer major cat events in Asia Pacific led to a 2.5% year-on-year drop in insurance service expenses in FY 2023.
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- March 12 2024
Scor restructures P&C, life & health with regional heads
Under the restructuring, Mukul Kishore will head the reinsurer's P&C business for Asia Pacific, while Chloe Wang and Dion Russell will head up life & health markets.
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- March 12 2024
Australia unveils ‘grid’ for financial sector, offers transparent roadmap on regulatory changes
Insurance Council of Australia welcomes plans to introduce the new regulatory framework stating this would lead to greater efficiency, consistency and clarity for policymakers, regulators, and insurers.
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- March 8 2024
Rothbury Group acquires Steadfast-owned Kiwi broker Austinsure
The Auckland-based aviation and PI specialist’s seven-member team will join the New Zealand insurance broking group on March 15.
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- March 8 2024
Exclusive: Aon reshuffles Australia W&I leadership as Sam Thomas departs
Sydney-based Anita Vivekananda will succeed Thomas as head of transaction solutions for Australia and New Zealand.
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- March 8 2024
Australian MGA Criterion Underwriting expands into New Zealand
The Brisbane-based specialist underwriter services waste and recycling, hospitality, plants & equipment, financial lines, and public & product indemnity sectors.
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- March 8 2024
New Zealand regulator FMA files civil case against Tower for overcharging customers by NZ$10m
Financial Markets Authority has alleged that the company did not properly apply multi-policy discounts for about 65,000 customers from September 2016 onwards.
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- March 8 2024
Valentine’s Day storms’ cost estimate at US$69m, claims set to cross 20,000: ICA
85% of claims are related to home and contents damage caused by the heavy rainfall, flooding, and strong winds experienced across the region.
