Country: Pacific Page 4 / 103
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- November 11 2024
NZ non-life segment growth to remain robust even as carriers adjust rates: AM Best
In its latest report on the segment, the rating agency has maintained a stable outlook citing solid premium growth supported by rate adjustments.
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- November 11 2024
RJC Insurance Brokers launches in New South Wales
The broker will be led by managing directors Russell and Julie Chegwyn and will place and manage covers for businesses in industries ranging from rail construction & maintenance to civil construction.
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- November 8 2024
Fitch upgrades QBE Insurance as profitability, capital buffer improve
The rating agency has affirmed QBE's insurer rating 'A-' taking into account its improving financial performance and solid capitalisation metrics.
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- November 8 2024
Fitch downgrades Suncorp Group following banking exit, higher reinsurance retentions
The group’s main non-life arm AAI’s financial strength rating has been changed to A+ from AA-.
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- November 8 2024
Suncorp’s Vero Insurance expands into specialty lines
The first product to be launched will be high hazard property, which will focus more on businesses with more complex risk profiles rather than those exposed to higher natural hazard losses.
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- November 7 2024
Steadfast expands into London market with US$30m Lloyd’s broker HW Wood buy
The acquisition, which is expected to be completed on December 2, gives the Australian group full ownership of the target, including its operations in France and Greece.
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- November 7 2024
PCRIC, WTW renew Pacific islands reinsurance portfolio
The Pacific Islands captive has developed new policy designs with the support from WTW’s disaster risk finance and alternative risk transfer teams.
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- November 6 2024
Liberty Specialty Markets’ Alison Campbell joins Berkley Insurance Australia as underwriter
In her new role, Brisbane-based Campbell will write general liability and financial lines of business for the carrier.
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- November 6 2024
Australia’s NIBA appoints Phil Khoury as independent reviewer for the insurance brokers code of practice
NIBA reviews the code in consultation with stakeholders every three years to ensure it remains relevant and effective.
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- November 5 2024
New Zealand central bank warns of premium hikes for high-risk properties: reports
For vulnerable properties, flood risk premiums are becoming more common as the trend towards risk-based pricing continues, RBNZ noted.
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- November 5 2024
Queensland and NSW most vulnerable going forward for natural disasters: CGU Insurance
Currently there are 1.2 million properties at risk of flooding in Australia, while 230,000 properties face a 1-in-20 risk of flooding each year, the insurer said.
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- November 5 2024
Hallmark Insurance’s parent St Andrew’s Australia Services get APRA nod as holding company
The registration allows the firm to oversee one APRA-authorised life insurer and one general insurer under the regulatory framework.
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- November 4 2024
Arch Indemnity could see underwriting results moderate as claims set to pick up: Fitch
The rating agency has assigned an 'A+' (strong) rating with a stable outlook to the carrier due to its moderate company profile, very strong capitalisation, financial performance and earnings, and support from the parent Arch Capital Group.
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- November 4 2024
Steadfast on track to complete US$200m in acquisitions in FY 2025
In its annual general meeting, the Australian broking group addressed allegations of opacity in its strata operations and leadership succession.
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- November 4 2024
IQUW launches in Australia with financial institutions offering
The UK underwriter will offer the product with integrated cyber coverage to private, small-to-mid-market financial services companies.
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- November 1 2024
Tower CEO Blair Turnbull to step down
Turnbull will leave the Kiwi carrier on February 12, 2025, following its annual shareholder meeting.
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- November 1 2024
APRA applies additional US$6.6m capital requirement to Pacific International Insurance
The regulator identified fundamental deficiencies in Pacific’s oversight and control of its existing binder holder business and risk management framework, including weaknesses in accountability and adequacy of resourcing.
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- November 1 2024
QBE closes US$1.6bn LPT deal with RiverStone International and Enstar
The deal was effective July 1 this year and includes non-core long-tail reserves that were not subject to prior reinsurance transactions and a small number of other portfolios of various subsidiaries of the insurer, including Lloyd’s syndicates.
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- October 31 2024
AUB Group to focus on building out its UK retail capabilities in FY 2025
The Australian broking group has combined the Tysers retail arm with Movo and Momentum to form a new UK retail unit, which will be led by recently named chief executive Bob Pybus.
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- October 31 2024
Qubit takes Fusion’s Damian Lynch as digital asset insurance CUO
Sydney-based Lynch will reporting to the specialist MGA's CEO Helen Ye and will be responsible for leading the firm's underwriting strategy in the digital asset space.
