Country: Australasia Page 39 / 102
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- June 7 2023
ICA unveils 187 Disaster Ready Fund projects for disbursement
The Australian industry association says the US$267m resilience investment for items such as flood levee design and improved hazard data and mapping marks a new era and will help reduce premium pricing.
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- June 6 2023
Arch Insurance appoints Lucy Wood as northern region manager for A&H
Sydney-based Wood will manage the portfolio and the underwriting team for the region, including New South Wales, the Australian Capital Territory and Queensland.
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- June 5 2023
Australian cyber specialist Emergence Insurance launches in New Zealand
The MGA's new branch will be led by Fraser Walker, who joins as business development manager from AIG New Zealand.
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- June 5 2023
Financial lines remain key to BMS Asia growth plans
The broker is focusing on 'building out and strengthening existing offices' in Asia, while seeking to be a 'viable alternative to the large broking houses' in Australia.
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- June 1 2023
New Zealand EQC completes US$135m cat bond offering
The Singapore-domiciled ILS helps the earthquake commission raise its reinsurance tower to a record US$5bn.
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- June 1 2023
Sedgwick elevates Amanda Hillier to forensic accounting partner in Australia
Hillier has been responsible for operational quality in this division since 2011.
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- June 1 2023
New Zealand to buy 700 homes unfit for rebuilding after severe storms
The policy will cost around US$600m with details to be worked out with insurers. NZ will also co-fund the protection of 10,000 other properties.
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- May 31 2023
Steadfast’s CHU to join Australia cyclone pool
Strata books of the MGA and Flex Insurance as well as its build-to-rent portfolios will enter the ARPC reinsurance pool from July 29.
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- May 31 2023
Asia workers’ comp remains soft as economies readjust
As companies try to bounce back to pre-Covid times, the market is dealing with challenges such as hybrid working and an ageing workforce.
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- May 30 2023
Catholic Church Insurance in Australia enters run-off
CCI has been operating since 1911 and says it "has sufficient assets to meet its commitments as they currently stand" as reports suggest historical abuse claims are the reason for closure.
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- May 29 2023
ICA declares New South Wales hailstorm as significant event
Insurers have received 7,552 claims relating to the hailstorm with about 80% of those damage for motor vehicles as of the first half of May 29.
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- May 26 2023
Tower falls to US$3m first half loss as cat costs bite, COR at 105.3%
The Kiwi carrier settles 30% claims for Auckland floods and cyclone Gabrielle with large event losses rising 90% year-on-year to US$20m.
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- May 25 2023
Axa XL hires Nicholas Strong as senior casualty underwriter
Sydney-based Strong joins from CGU Insurance, where he held a similar role.
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- May 24 2023
Tower places additional US$63m reinstatement cover
With this reinstatement, the Kiwi carrier will ensure protection for a significant fourth catastrophe event within its current financial year.
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- May 19 2023
Stewart Mirah joins HDI Global as senior underwriter
Brisbane-based Stewart will establish the specialty carrier's motor fleet portfolio in Queensland.
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- May 18 2023
Argenta elevates Viji Ninan to Asia CEO
Singapore-based Ninan will oversee operations of the Singapore and Australia branches of Syndicate 2121.
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- May 18 2023
AUB in US$100m equity raise as Tysers UK retail JV with PSC called off
The fundraise is more than the US$66.5m it was due from PSC under the 50/50 JV agreement, as the broker targets more M&A.
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- May 17 2023
Cyclone Gabrielle losses climb to US$1.2bn: Perils
New Zealand has experienced nearly US$2.3bn of insured losses this year from two events, the loss data aggregator said.
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- May 17 2023
Travel insurer battleface opens base in Australia
The US-based carrier has partnered with MGA Mustard Underwriting, insurtech Wise & Silent and start-up Awai Travel for its regional foray.
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- May 17 2023
Opinion: Will the APAC trade credit market rise to the looming insolvency challenge?
With corporate risks expected to rise across Asia, carriers need to up their game and evolve more sophisticated methods of risk assessment.
