Country: Australasia Page 28 / 109
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- April 3 2024
Second loss estimate for the Australia Christmas storms hits US$1 billion: Perils
The second loss estimate is AU$152 million higher than the initial loss estimate released on February 14.
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- April 2 2024
Markel launches PI cover in Australia with localised wordings
The carrier will write professional indemnity policies for Australian-domiciled businesses across six sectors including construction, accounting, insurance and media.
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- April 2 2024
IAG appoints Robert Cutler as group general counsel
Cutler joins from Clayton Utz, where he was its chief executive partner, and replaces Karen Ingram who has been the interim GC following Peter Horton's departure in December last year.
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- April 2 2024
IAG New Zealand confirms new chief risk officer following executive team rejig
Rachel O’Brien will take over as CRO for the carrier, while former CRO Martin Hunter will take up a new role and Wayne Tippet will return as executive general manager for claims.
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- March 25 2024
Guy Carpenter appoints new Pacific CEO in regional leadership shake-up
The reinsurance broker has hired Ben Savill as Pacific chief executive and promoted Jeff Saper and Luc Morement as APAC head of fac and regional sales leader, respectively.
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- March 25 2024
Insurance Council of New Zealand widens complaints reporting to boost transparency
Customers should expect their insurers to maintain high standards and have in place robust processes, backed by external oversight, for handling complaints, ICNZ chief executive said.
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- March 25 2024
Newline grows Australia footprint with Sydney office
The Lloyd's (re)insurer has appointed Nicholas Beswick in Sydney as head of professional indemnity for Australia and New Zealand.
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- March 25 2024
Tokio Marine Kiln strengthens property capabilities in Asia Pacific with Chubb hire
Jonathan Grossman will relocate to Singapore from New Zealand to write property business for the Lloyd's player across APAC.
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- March 22 2024
Buyers closing in on PSC, but sluggish UK arm makes for a tricky deal: sources
A deal could be announced in a matter of days with Marsh, Ardonagh and Gallagher rumoured to be leading the race.
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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.
