Country: Australia Page 13 / 92
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- August 19 2024
AUB doubles down on UK retail expansion with Movo acquisition
The London-based broker is the second acquisition by the company in the UK after it picked up a 40% stake in AR network Momentum in June this year.
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- August 19 2024
Suncorp Group’s FY 2024 general insurance post-tax profit rises 42% to US$722.3m
Its general insurance results benefitted from strong growth in its consumer insurance, whose profit doubled to US$283.6m, while its New Zealand business tripled to US$118.4m, benefitting from benign nat cat claims compared to FY2023.
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- August 19 2024
Insured losses in 2023-24 flat at US$1.5bn, but number of claims lodged jumped 73%: ICA
The costliest event was the Christmas and New Year storms that hit Queensland, New South Wales and Victoria in December 2023 which caused US$900m in insured losses and nearly 100,000 claims.
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- August 16 2024
McGill and Partners expands Asia Pacific facultative team with two appointments
The broker has hired Sydney-based Brad Racker from Vero and named Rebecca Zacharow in London as associates in the regional fac team.
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- August 15 2024
ICA, Planning Institute of Australia urge governments to overhaul land use planning
In a joint communique, the two industry bodies urge state, local and the federal governments to step up reforms to tackle the country's growing housing challenges compounded by extreme weather risks.
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- August 15 2024
ARPC hires Cameron Hick as head of technical underwriting
Hick has over 25 years of experience in the reinsurance industry across Australia, Switzerland and Germany.
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- August 13 2024
PSC Insurance acquires specialist broker Eastern Prudential Insurance
The low-cost accommodation specialist wholesale broker has joined the Sydney office of the ASX-listed broking group.
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- August 13 2024
Newline continues Sydney expansion with Andrew Yeung hire
Yeung, who has been promoted to Australia head of D&O, will relocate to Sydney from Melbourne and work closely with Nick Beswick, head of professional indemnity.
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- August 13 2024
Sedgwick strengthens Australia liability team with Crawford hire
Sydney-based Filip Damjanovski joined from Crawford & Co where he was a senior liability general adjuster.
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- August 12 2024
Australia’s Colonial First State seeks to add cat bonds to pension portfolio: report
Australian pension fund managers, including Insignia Financial's MLC Asset Management, see robust returns from allocating capital to insurance-linked investments.
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- August 12 2024
QBE elevates Ed Rainsford to chief risk officer, Australia Pacific
Sydney-based Rainsford, who has been with the carrier for almost a decade, joins from the QBE group risk and compliance team where he has been the group chief compliance officer since July 2022.
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- August 12 2024
Mitsui Sumitomo Oceania hires David Hall as head of distribution
Sydney-based Hall joined from Envest where he was head of mergers, acquisitions and advisory for nearly two years from March 2022.
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- August 9 2024
Allianz Australia promotes Scott Langtree to distribution manager for Queensland
Langtree, who has been with the insurer for eight years, will lead a team of account managers to strengthen the group’s relationship and position with its strategic partners.
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- August 9 2024
QBE strikes US$1.6bn loss portfolio transfer deal with Enstar, RiverStone
Enstar’s subsidiary will assume US$376m out of total net loss reserves for US commercial liability and workers' compensation risks, effective July 1, and will provide approximately US$175m of cover in excess of the ceded reserves.
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- August 9 2024
QBE doubles H1 net profit, COR improves 5 percentage points to 93.8%
The insurer's GWP grew 2% to US$13bn for the period, while its underwriting performance benefitted from lower cat claims, stable prior-year reserve development and rate increases.
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- August 9 2024
Marsh elevates Eliza Grant to head of transactional risk for Pacific
Sydney-based Grant joined Marsh in 2021 as a senior transactional risk advisor for private equity and M&A.
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- August 8 2024
Dual expands into W&I insurance in ANZ with new team led by Jordan Schwarz
The MGA’s new transaction solutions capability is an expansion to its title insurance offering in the region launched in April this year.
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- August 8 2024
Australian government raises national terrorism threat level to ‘probable’
This is an indication of more than a 50% chance of an onshore attack, or an attack being planned in the next 12 months..
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- August 7 2024
AIG brings on board BHSI’s Anouk Sireude as Pacific head of ocean marine
This is AIG's fourth hire from the specialty insurer over the last few weeks in Australia and the third from the marine underwriting team.
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- August 7 2024
QBE Australia Pacific elevates Declan Moore to chief governance and executive operations officer
Moore will oversee first line risk, customer remediation, marketing and customer insights, legal and executive operations for the regional business as Jonathan Groves succeeds him as CEO and managing director for New Zealand and Pacific.
