Country: Australasia Page 26 / 102
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- January 9 2024
Typhoon Doksuri tops APAC nat cat overall losses at US$25bn: Munich Re
Two major disasters in New Zealand – Auckland floods and Cyclone Gabrielle – topped APAC insured losses at around US$4 billion.
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- January 9 2024
Australian casualty market primed for capacity injection
The country is "crying out for liability specialists" and growth is here for the taking for those built to deal with market cycles and do not exit casualty risks.
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- January 9 2024
Marsh elevates Scott Eccleston to Pacific head of global placement
Eccleston, who will continue to be based in Melbourne, was most recently deputy head of global placement for Pacific.
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- January 9 2024
AIG promotes Liam Pomfret as NZ general manager
He was previously AIG’s Asia Pacific head of professional indemnity and cyber insurance, a role he held since January 2018.
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- January 8 2024
Howden doubles down on equine sector with Australian specialist broker buy
The broker acquired Sydney-based bloodstock intermediary Silks Insurance following a string of acquisitions in the bloodstock market in 2023.
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- January 8 2024
Insurance Council of New Zealand appoints IAG’s Amanda Whiting as president
The IAG chief executive replaces Toni Ferrier, who stepped down following her taking charge as country manager for broking group Marsh McLennan.
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- January 4 2024
Suncorp and IAG say December wild weather claims tracking below nat cat allowance
While the total cost of the two events have yet to be determined, Suncorp said it has US$459m in natural hazard allowance and IAG has US$114m till December 2023.
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- January 4 2024
IAG renews 2024 cat program with US$7bn protection, adds US$67m New Zealand cover
In conjunction with its 32.5% quota share, the Australian carrier’s retention is flat at US$159m.
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- January 3 2024
ICA extends insurance catastrophe declaration to January 3 as extreme weather continues
Almost 38,000 insurance claims have been lodged following the weather that has impacted Queensland, New South Wales, and Victoria since December 23.
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- January 3 2024
Eastern Australia’s wild weather claims in December top 40,000: ICA
While insurers received more than 37,000 claims from the Christmas storms across three states, the Cyclone Jasper claims from northern Queensland crossed 6000.
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- January 2 2024
Australia Christmas storms has potential to exceed US$1bn loss level: CRESTA
The two record-breaking New Zealand weather events in early 2023 and the August China floods among 7 non-US cat events with billion-dollar industry losses.
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- January 2 2024
No letting up for Australian broker consolidation
Global players' expansion plans, the growing regulatory burden on smaller firms and the increased sophistication of clients have created a market where buyer’s and seller’s motivations align.
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- January 1 2024
Australia prepares for more wild weather even as Christmas storms claims soar
The ICA declared the insurance catastrophe of December after claims from Queensland, New South Wales and Victoria crossed 18,000 as of December 29.
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- December 21 2023
ICA declares ex-cyclone Jasper insurance catastrophe as carriers get 3,800 claims
The escalation would result in prioritising claims for affected policyholders across the region.
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- December 21 2023
IAG finds interim group general counsel after Horton’s departure
The Australian insurer, which is facing litigation over US$4.7bn in claims, has commenced an internal and external search for a permanent replacement.
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- December 20 2023
Australian insurers well placed to meet Jasper flood claims: S&P
Only insurers with high market shares in far north Queensland might trigger their reinsurance cat covers, the rating agency said.
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- December 19 2023
Zurich relocates New Zealand exec as Victoria state manager
Brett Wainhouse will start in his new Melbourne-based role in January 2024 after spending nearly a decade at the insurer's Auckland office.
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- December 19 2023
Everest takes Allianz Commercial’s Joanna Mercer as Australia head of claims
Sydney-based Mercer joins the insurer from Allianz Commercial, where she was most recently regional head of claims, Pacific.
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- December 18 2023
Australian carriers see claims rise from flash floods following Cyclone Jasper
The ICA has declared a significant event in northern Queensland as Suncorp reported more than 500 claims and IAG about 100 from record flooding in Cairns.
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- December 18 2023
HDI Global Australia strengthens regional liability teams with promotions
Tami Sorensen has been elevated as southern region liability manager and Zubin Mathew has been promoted to liability manager, Victoria.
