Country: Australia Page 10 / 72
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- November 1 2023
APRA applies US$12.7m capital requirement to RAC Insurance after governance review
A review by the regulator revealed significant weaknesses in areas of outsourcing controls, conflict management and board decision making at the Western Australia motor insurer.
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- October 31 2023
ICA accepts seven recommendations from post-flood review
Global consultancy Deloitte has highlighted several areas where insurers fell short of best practices while dealing with the February to March 2022 floods.
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- October 31 2023
Markel makes three appointments in Australia
Ahmed Farag joins as head of casualty, Kym Beazleigh becomes head of professional and financial risk and head of Sydney and Arné Booysen a senior PI underwriter.
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- October 27 2023
Perils increases south-east Australia flood loss estimate to US$613m
The October event mainly impacted Victoria and NSW with property losses contributing 91% of the loss, while 9% were motor losses.
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- October 27 2023
Australian carriers brace for claims as deadly bushfires rage across New South Wales, Queensland
With over 100 fires burning, several dead, homes burned down and thousands of hectares of land destroyed, it is being described as the worst fire season since the 2019-20 black summer.
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- October 26 2023
Starr Insurance hands Steve Gosnell additional role as head of liability for Australia
Melbourne-based Gosnell has been the American insurer's regional business development manager for APAC.
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- October 26 2023
HDI Global ropes in Laura Lawrence as mid-market liability underwriting manager
Lawrence was most recently liability underwriting manager - northern region for the Australian insurer CGU Insurance.
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- October 25 2023
Greensill investor may file more legal claims against IAG, BCC and Tokio Marine: report
White Oak has alleged that the insurers failed to inform the firm about the problems in collapsed trade credit financier insurance policies.
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- October 25 2023
Philippe Bouchet returns to Axa XL as head of art expertise, APAC & Europe
After leaving the carrier in 2021, Paris-based Bouchet rejoins to support the implementation of fine art and private clients strategy in Europe, Asia and Australia, in close partnership with regional and local underwriting and distribution teams.
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- October 24 2023
Zurich to underwrite RentCover’s landlord policies in Australia
Existing customers will have their policy underwritten by Zurich at renewal and new customers from December 1, 2023.
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- October 24 2023
BHSI promotes Sami Jaghbir to Queensland underwriting manager
Brisbane-based Jaghbir will develop the carrier's regional market presence across all business lines, reporting to Mark Lingafelter, president of Australasia.
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- October 20 2023
Bennelong Funds, Leadenhall Capital tie-up to promote ILS in Australia, New Zealand
ILS, which aims to transfer insurance risk to capital markets, offers attractive spreads for investors relative to their long-term average.
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- October 19 2023
Most Asian economies to see an increase in insolvencies: Allianz Trade
Countries set for the largest rises include South Korea, Japan, Australia and New Zealand, but Hong Kong is set to see a decrease in 2024.
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- October 18 2023
Stephen Rogers joins Markel as head of Queensland operation
Brisbane-based Rogers arrives from Axa XL and will report to Markel's Australia managing director Rory Morison.
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- October 18 2023
Exclusive: Gallagher sees senior exits amid wider APAC leadership shake-up
There have been several changes to the broker's APAC management in recent months, including the departure of North Asia CEO Thomas Wang.
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- October 17 2023
Sedgwick names Derek Roberts as Australia COO
The former AmGeneral CEO is overseeing claims management, property, professional services, workforce absence and compensation programs.
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- October 17 2023
Newline builds out Australia team with two new hires
Professional indemnity underwriter Arion Reuter and administration and underwriter support officer Arthi Govindarajan have recently joined the carrier's Melbourne office.
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- October 13 2023
Envest snaps up majority stake in London Australia Underwriting
LAUW, a Sydney-based MGA, writes over US$20m of GWP in professional and financial lines through Lloyd’s syndicates.
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- October 12 2023
IAG’s Hunter Hailstorm loss creep to squeeze H1 margins
Reinstatement costs of US$45m also to hit performance, as IAG's CEO laments a "substantial and sustained reduction" in reinsurance global capacity.
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- October 10 2023
Strata Community ropes in Shaun Feely as chief executive officer
The Sydney-based industry veteran was CEO of Latitude Insurance prior to this appointment.
