Country: Australia Page 35 / 89
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- May 15 2023
HDI Global beefs up Australia team with senior AIG duo
Jae Ramsbotham has been appointed senior underwriter, crisis management, Asia Pacific and Ryan Green as senior underwriter - management liability.
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- May 15 2023
Strata capital squeeze pushes Australian carriers out of the market
Those who remain are pushing 15-30% premium increases for standard risks with more difficult risks exceeding 40%, as cyclone claims and inflation take their toll.
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- May 15 2023
Allianz Asia Pacific COR improves to 95.1% in Q1
Operating profit in the region improved 52% to US$45m, while the insurer's Australian arm returned to profit.
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- May 12 2023
QBE hits 90% of H1 cat allowance, adjusts COR target
The global carrier has also strengthened reserves by US$130m for weather events in FY 2022.
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- May 9 2023
IAG’s chief strategy officer and CFO to exit
Tim Plant leaves at the end of June as the carrier consolidates group functions, while CFO Michelle McPherson will retire by the end of 2023.
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- May 8 2023
Medibank served a third class-action suit over data breach
Slater and Gordon filed a group proceeding in the Federal Court of Australia on May 5.
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- May 7 2023
Three key QBE subsidiaries handed ratings upgrades
AM Best revised outlook to stable for North America, Europe and UK subsidiaries on improved underwriting and operating performance metrics.
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- May 5 2023
BHSI elevates Sydney-based Cameron Holmes to global role
Holmes will take charge as global underwriting officer, property for energy and construction.
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- May 5 2023
Frontier launches fac broker with ‘big Australia focus’
The wholesale broker will focus on finding capacity for hard-to-place risks such as crypto, cannabis, cyber and tech PI.
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- May 3 2023
Marsh signals Western Australia expansion plans with broker buy
The acquired firm, Austral Risk Services, is a specialist in transport and serves over half the taxi and limousine market in Perth.
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- May 3 2023
ICA calls for regulatory planning overhaul along UK lines
The insurer body is pushing for new financial services planning and prioritisation forum modelled on the Financial Services Regulatory Initiatives Forum.
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- May 2 2023
BMS acquires Australian MGA Gard Insurance
The deal, which is the first acquisition of an Australian underwriting agency for the specialist broker, includes hospitality specialist ALE Underwriting.
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- May 2 2023
Canopius strengthens Australia treaty team with Aspen Re hires
The Lloyd's (re)insurer has hired Andrew Parker as head of treaty for Australia and New Zealand and Paul Wedlock as head of property treaty for the region, who are also joined by casualty underwriter Peter Mattei.
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- May 2 2023
Guild Insurance capital adequacy to remain strong in medium term: AM Best
AM Best has affirmed the insurer rating at A- (excellent) with a stable outlook, taking note of its very strong balance sheet.
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- May 1 2023
Specialist Apollo syndicate ibott teams up with new Australian Lloyd’s coverholder
Mustard Underwriting is offering cover for the 'sharing economy'.
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- April 28 2023
AUB and PSC delay Tysers retail JV deal again
Commercial terms are expected to be finalised in the coming weeks delaying the start date of May 1.
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- April 28 2023
Australian MGA Xenon approved as Lloyd’s coverholder
Xenon Underwriting will offer SME, complex and high hazard property and liability lines, through several Lloyd's binders.
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- April 27 2023
Perils revises Australia October flood losses to A$907m
Personal lines property losses constituted 65% of the total industry loss, while commercial lines property losses represented 25% and motor losses at 10%.
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- April 27 2023
Axa XL names APAC & Europe cyber product leader
Carlos Rodríguez Sanz has been promoted and is responsible for growth and development of cyber across Asia, Australia and Europe.
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- April 27 2023
MGAs see ‘flight to quality’ in Asia amidst market hardening
Following the 1.1 renewals, sourcing capacity is becoming harder but niche players may still have an edge.
