Country: Australasia Page 22 / 108
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- June 3 2024
Australian lender Westpac sues insurers to recoup US$266m: report
A lawsuit against Chubb is set to be followed by other proceedings involving Axa, Allianz, Zurich, among others over the bank’s anti-money laundering settlement.
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- May 31 2024
London Australia Underwriting hires portfolio manager from Liberty Specialty Markets
With over 20 years of experience, Jamie Kennell-Webb has joined the MGA from Liberty Specialty Markets (Asia Pacific) where he held several senior roles.
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- May 30 2024
Central and western Australia to see above-average winter rainfall: BOM
The Bureau of Meteorology forecast said that the country is likely to have higher temperatures than usual for this time of the year following an autumn that was warmer for most parts.
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- May 30 2024
Australian MGA Ocean Underwriting to launch financial lines cover with Wade Cadman in charge
The Sydney-based MGA's and Lloyd's coverholder's new product will target SMEs and will be led by Cadman who joins from MGA Brooklyn Underwriting.
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- May 30 2024
Dual recruits Ed Birrell to expand ANZ title insurance business
Most recently as Dual Asset's head of UK M&A, Birrell will relocate to Sydney from London and start his new role in June.
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- May 30 2024
Emerging carbon credit insurers take roots in Asia Pacific
Specialist players like Kita and Oka have recently set up shop in the region as the market here is growing with Australia, Japan and Singapore leading the way.
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- May 30 2024
Australian consumer lobby calls for ‘significant reforms’ to general insurance code
The current code of conduct is riddled with loopholes that insurers have exploited, failing to provide adequate protection for consumers during critical times, says ACIL, which has formulated a set of 52 recommendations.
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- May 30 2024
Dual expands New Zealand operations with Wellington office
The new office will be the company’s first office outside Auckland and reflects the company’s growing presence in New Zealand.
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- May 29 2024
APRA proposes US$22m in levies funding for Australia’s general insurance sector
The total operational costs of the regulators to be recovered from the general insurance sector in FY 2024 is 10.8% higher than the previous financial year, the Treasury said in a discussion paper.
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- May 29 2024
Axa XL ropes in Zurich’s Julie Morgan as Australia head of claims
Sydney-based Morgan will have oversight of all claims activity across all lines of business for Australia.
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- May 29 2024
IAG slapped with class action suit over ‘loyalty tax’ on home insurance renewals
IAG says it intends to defend the proceedings commenced by class action specialist law firm Slater and Gordon against its subsidiaries IAL and IMA.
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- May 29 2024
Tower swings back to profit in H1 2024 on absence of large nat cat
The Kiwi insurer's reported net profit after-tax totalled US$22.2m, reversing the US$3.1m net loss a year ago.
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- May 28 2024
Equal chance of neutral ENSO conditions and La Niña: BOM
The Australian weather agency has maintained La Niña watch as there are some early signs that an event might occur in the Pacific Ocean later this year.
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- May 28 2024
NM Insurance hires Andrew McFetridge as head of New Zealand operations
McFetridge will focus on growing the company’s local team and expanding distribution networks focusing on marine and motorcycle insurance.
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- May 24 2024
Sedgwick Australia hires Sophie Henderson as forensic accounting services partner
Melbourne-based Henderson has 14 years of experience specialising in complex economic loss claims across various industries.
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- May 23 2024
Australia’s Bellrock builds out construction risk team with two specialist hires
Simon Gray and Carina Bogaard, who are specialists in construction professionals’ risks, join the broker's Sydney office.
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- May 23 2024
AUB completes US$132m placement for Pacific Indemnity deal
The Australian broker issued 7.3m new shares in a private placement primarily to fund the Pacific Indemnity acquisition, with excess funds allocated for other M&A deals in the pipeline.
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- May 22 2024
IAG launches SME-focused cyber underwriting agency Cylo
The MGA is backed by the Australian carrier's commercial insurance arm CGU and will offer up to US$1.3 million cover against cyber attacks for small businesses.
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- May 22 2024
AUB to acquire financial lines specialist MGA Pacific Indemnity
The Australian broking group will pay up to US$93.4m for 70% of the underwriting agency and it has launched a US$133m private placement to fund the deal.
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- May 21 2024
New Zealand to expand scope of fire insurance levies to aviation, forestry from 2026
Fire and Emergency New Zealand will also increase transitional levies on fire insurance by 12.8% from July 1 this year.
