Country: New Zealand Page 2 / 26
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- February 21 2025
New Zealand’s Otago flood insured losses hit US$19.4m, top 2015 floods
Insurance Council of New Zealand data shows 1,920 private insurance claims were made following the deluge which hit at the start of October.
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- February 20 2025
Australia set for increased summer rainfall, bushfire risks: Gallagher Re
Likelihood of above-average cloudiness and high ocean temperatures means Australia is expected to have notably above-average minimum temperatures through Q1 2025.
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- February 17 2025
Envest to merge Aviso Broking into PSC Insurance Brokers
The newly expanded business, to be led by Benjamin Goodall, will service more than 50,000 clients and place US$584m GWP under the PSC Insurance Brokers brand.
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- February 14 2025
Insured losses from 2 of New Zealand’s most destructive nat cats top US$2.1bn: ICNZ
Auckland Anniversary Weekend floods and Cyclone Gabrielle in 2023 resulted in over 118,000 insurance claims.
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- February 13 2025
IAG’s H1 FY25 underwriting profit up 125% to US$458m, COR improves to 85.2%
Australian insurer’s GWP grew 6% to US$5.3bn driven by strong renewal rates for direct channels in Australia and New Zealand reflecting moderating premium increases and claims inflation.
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- February 12 2025
Suncorp’s H1 FY25 insurance service result up 134% at US$582m
Australian insurer's general underwriting performance helped by favourable natural hazard experience and reserve releases.
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- February 11 2025
Who pays for climate change adaptation is the elephant in the room, says Tower chairman
Kiwi insurer's Q1 FY25 GWP rose by 6% to US$87.5m on strong volume growth as rating increases flattened on average.
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- February 5 2025
Tower increases FY25 profit guidance on ‘better-than-expected’ claims performance
Guidance on COR for the financial year has improved to between 84-86%, down from 87-89%.
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- February 3 2025
Suncorp finalises US$231m Asteron Life sale, strengthening focus on P&C
The carrier's general insurance business in New Zealand remains unchanged.
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- January 28 2025
Dual promotes Marc Karapanovic to cyber lead for New Zealand
Auckland-based Karapanovic will lead the development of SME cyber on the MGA's trading platform.
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- January 23 2025
Tower names Paul Johnston as interim CEO
Johnston, who was most recently CFO for the New Zealand carrier, will succeed incumbent CEO Blair Turnbull effective from February 13.
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- December 30 2024
Envest to acquire ‘significant’ stake in New Zealand underwriting agency
Envest Group, part of The Ardonagh Group, will acquire a stake in Ando Insurance Group, subject to regulatory approvals in New Zealand.
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- December 19 2024
Firefighting levy on New Zealand insurance premiums finalised
The revised levy, which is a primary funding mechanism for Fire and Emergency New Zealand, will be effective from July 2026.
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- December 17 2024
APAC finpro rates flat to 10% down in 2024: WTW
Asia Pacific saw 5-10% reductions for D&O and PI covers with crime staying flat and fund managers pricing flat or up to 10% down and cyber fluctuating within 5% in ANZ markets.
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- December 16 2024
BMS New Zealand continues North Island expansion with appointment of Dan Ackroyd
Auckland-based Ackroyd, who has joined the firm as an executive broker, will work alongside recently hired director Nathan Richmond and executive broker Tim Emms.
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- December 13 2024
Chubb taps Aon veteran Ben Holland as construction manager for ANZ
Melbourne-based Holland will strengthen the capabilities of the P&C leadership team and work closely with Jane Ravi, the carrier's energy & tech lines manager.
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- December 12 2024
Provident Insurance’s FY 2024 COR at 96.9%, operating performance supported by positive underwriting: AM Best
AM Best has upgraded the Kiwi niche mechanical breakdown and private motor vehicle carrier's financial strength rating to “B+” (good) and long-term issuer credit rating (LT ICR) to “bbb-” (good) with a stable outlook.
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- December 9 2024
Charles Taylor strengthens Australasia presence through associateship with Carter Briggs Hurle
The associateship will support management of large and complex claims across Australia, New Zealand and the Pacific Islands.
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- December 5 2024
New Zealand’s Southern Response to slash headcount as Canterbury earthquake claims grant nears end: reports
The roles would be reduced by at least 15 personnel to about eight or nine by June 2025 when the Crown package, which has already settled 9,019 claims or about 96% of the eligible applicants, is expected to be wound up.
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- December 2 2024
Agile continues ANZ buildout with Jamie Connor promotion
Connor's promotion to head of aviation for Australia and New Zealand aligns with the MGA's strategy to strengthen its position in the region since entering the NZ market in August.
