Country: New Zealand Page 12 / 25
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- June 8 2023
QBE joins New Zealand EQC to expand cat insurance programme
The carrier will be the ninth insurer to partner with the earthquake commission when it starts on July 3.
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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 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
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 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 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 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
Everest ropes in Matthew O’Brien as head of casualty, Pacific
O’Brien was most recently casualty manager responsible for Australia and New Zealand at Chubb.
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- May 15 2023
New Zealand announces US$720m cyclone, flood recovery package
The budget will go towards rebuilding roads, rail, schools and flood protection.
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- May 8 2023
Tower sees Auckland flooding costs double to US$142m
The Kiwi insurer, whose cat event reinsurance kicks in at US$7.5m, is expecting to book US$3.5m of H1 losses.
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- May 5 2023
Swiss Re Asia 1.4 renewal premiums grow 25%
The reinsurer booked US$171m in New Zealand Q1 cat losses, says "a continuation of related costs seems unlikely at the moment'.
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- May 4 2023
New Zealand mulls ban on rebuilding ‘high-risk’ properties as cat claims surge
IAG deals with a record 46,000 summer claims as government spends US$400m on Cyclone Gabrielle clean-up costs.
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- May 3 2023
New Zealand flood losses rise to US$1.08bn: Perils
The figure relating to the North Island event is a 6% increase from the initial loss estimate of US$1.03bn.
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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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- 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.
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- April 26 2023
Aon names Paul Grasso head of treaty, Australia and New Zealand
The broker's former head of property is part of the Reinsurance Solutions team and is based in Sydney.
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- April 24 2023
Tower to sustain underwriting profits despite nat cat events: AM Best
The majority of the gross cost involved with weather events was absorbed by its catastrophe excess-of-loss reinsurance treaty.
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- April 24 2023
Kiwi broker Donaldson Brown appoints first CEO
Stefan Azzopardi has joined from health and pet insurer Southern Cross Health Society, where he was chief finance and risk officer.
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- April 20 2023
New Zealand EQC targeting US$155m cat bond offering in Singapore
The first ILS offering by the commission will have a four-year term and provide multi-peril cover.
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- April 14 2023
ICNZ chief questions proposal to hike fire service levy
Fire and Emergency New Zealand has proposed a 12.8% increase in the levy on insurance policies to cover a funding shortfall.
