Country: New Zealand Page 14 / 26
-
- March 24 2023
Tower taps APRA for new chief risk officer
Sharyn Reichstein, who was a general manager at the Australian regulator, will join the Kiwi carrier in July.
-
- March 24 2023
Marsh McLennan appoints Josh Roach as New Zealand CEO
The new role will be in addition to his current responsibilities as Marsh New Zealand CEO.
-
- March 23 2023
Cyclone Gabrielle claims reach US$558m: ICNZ
Hawke's Bay accounts for more than half of the total value at US$302m despite having a third of the total 40,000 claims.
-
- March 16 2023
Honan snaps up New Zealand’s Certus Insurance Brokers
Certus has 15 employees operating across offices in central and regional Auckland and is part of the NZbrokers network.
-
- March 15 2023
Auckland floods initial loss estimate is over US$1bn: Perils
The unprecedented event is labelled as the largest weather-related insurance industry loss historically for New Zealand.
-
- March 9 2023
Delta Insurance New Zealand and Delta Property to merge
Delta Property MD Andrew Beaton is set to become CEO of Delta Insurance New Zealand under the new structure.
-
- March 8 2023
New Zealand P&C insurers staring at weaker earnings season: S&P Global
Kiwi's carriers have adequate capital buffers despite two Q1 mega weather events which will contribute to rising reinsurance costs.
-
- March 6 2023
Auckland flood claims cross NZ$1bn: ICNZ
Insurers have received 48,000 claims from the North Island floods, while Cyclone Gabrielle claims lodged have reached 30,000.
-
- March 6 2023
Tower places reinsurance reinstatement cover
Tower said it now maintains sufficient protection for two additional catastrophe events in FY 2023 following the Auckland flooding and Cyclone Gabrielle.
-
- February 28 2023
Tower’s reinstatement talks in progress for two more nat cat events
While the Auckland floods cost will be covered by reinsurance, Gabrielle claims are also likely to trigger the Kiwi carrier's cat reinsurance cover with an excess of US$7.3m.
-
- February 22 2023
Cyclone Gabrielle claims ramp up pressure on New Zealand’s carriers
Insurers are being hit by inflation, rising reinsurance costs and unprecedented weather, including the country's largest event since the Christchurch earthquake.
-
- February 20 2023
Lockton hires from Aon to build Australia, NZ and Pacific affinity SME unit
Tanya Dasgupta, who has almost 20 years of sector experience, has joined Lockton as national manager – affinity schemes.
-
- February 17 2023
Tower ups large event allowance by 33%, expects Gabrielle to trigger reinsurance
The storm is the second event in weeks set to breach the insurer's cat excess of US$7.4m leading to Tower to downgrade its profit guidance.
-
- February 16 2023
Insured losses from Cyclone Gabrielle, Auckland floods to exceed 2022 nat cat total: ICNZ
IAG New Zealand has already received 2,300 claims connected with the cyclone, mainly from Auckland, Northland, Waikato and the Bay of Plenty.
-
- February 14 2023
First claims lodged as Cyclone Gabrielle wreaks havoc
New Zealand has declared a state of emergency as the cyclone hits homes, roads, vehicles, air traffic and the power grid.
-
- February 14 2023
IAG, Suncorp and Tower receive over 37,000 claims from Auckland floods
IAG has seen over 21,000 claims, Suncorp more than 11,500 and Tower over 4,800, from the event which started January 27.
-
- February 13 2023
IAG’s H1 2023 combined ratio increases to 93.7%
Group GWP grew 7.5% on rate increases but underwriting profit was down 10% year-on-year.
-
- February 13 2023
Auckland floods and Turkey earthquake add pressure on upcoming renewals
Recent disasters are likely to trigger reinsurance payouts and add to the capacity woes and rate increases that's been vexing renewals.
-
- February 13 2023
Powerful Cyclone Gabrielle hits New Zealand
The strongest storm in decades is causing widespread damage to North Island, which is recovering from recent flooding that is expected to cost insurers and reinsurers over US$600m.
-
- February 10 2023
Lockton appoints ex-JLT Australasian CEO as Pacific president
Leo Demer will work closely with Paul Marsden, Lockton’s CEO (Australia and Pacific) and starts on February 13 in Sydney.
