Country: Pacific Page 10 / 103
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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
Delta Insurance taps Chubb’s Siân Mullane as senior property underwriter
With nearly 30 years of experience, Mullane was most recently a senior property underwriter at Chubb up until June 2024.
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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
New Caledonia unrest claims hit global (re)insurers
Allianz reported about US$284m exposure to the event, with its reinsurance arm also seing losses from the event, while Hannover Re and Scor saw EUR90m and EUR42m in claims, respectively.
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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 9 2024
Tower upgrades FY 2024 NPAT guidance to US$27m
The updated guidance assumes full utilisation of the FY 2024 large events allowance, which is set at US$27m.
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- August 8 2024
Lockton New Zealand takes Marsh’s Colin McCulloch as client director
Auckland-based McCulloch has been with Marsh for more than 28 years as principal providing insurance broking and risk advisory services to large and complex public sector and corporate organisations.
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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.
