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- October 4 2023
Lack of aggregate cover brings earnings volatility to APAC carriers
As rates soar, insurers are retaining more nat cat risk on their books, with the situation set to continue into the 2024 renewals.
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- October 4 2023
FM Global expands to Western Australia with Perth office
Anthony Brown has been appointed account manager and Scott Chapman becomes an account engineer for the Perth office.
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- October 3 2023
AIG’s Toni Ferrier to take over as Marsh McLennan New Zealand CEO
Ferrier, who is chief executive of AIG New Zealand, will lead the broking and consulting group's businesses across the country and serve as president of Marsh New Zealand.
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- October 3 2023
Crawford announces two senior Australian leadership roles
Perth-based Michael Dinan becomes Global Technical Services (GTS) manager for three states, while Matt Donnelly rejoins the adjuster as GTS manager for Victoria and Tasmania.
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- October 3 2023
AB Comsure acquires Brisbane broker CE McDonald
Following this acquisition, the combined entity’s annual gross written premium will be around US$96m.
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- October 2 2023
Union Medical underwriting to remain robust as Covid-19 impact subsides: AM Best
The rating agency has affirmed the Kiwi insurer a rating of A (excellent) with a stable outlook.
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- October 2 2023
Australia’s GI brokers saw 11.4% increase in H1 GWP
The broking sector, which continues its consolidation trend, controlled US$11.9bn of premiums, according to APRA data.
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- September 29 2023
ICA urges New South Wales to drop fire services levy after Tasmania axe
The NSW state levy is forecast to collect US$900m in revenue from insurance customers in FY 2023-24.
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- September 28 2023
Tower ups reinsurance excess for first two events to US$10m
An excess of US$11.9m applies for a third event in FY 2024, while the Kiwi P&C player has decreased its upper cat limit to US$447m from US$557m.
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- September 28 2023
ICNZ chief Tim Grafton to step down
Grafton will continue until his successor is appointed, for which ICNZ has already started the hiring process.
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- September 27 2023
RBNZ invites submissions for final round of consultations over insurance supervision
The regulator started a review of the Insurance (Prudential Supervision) Act in 2017 as it seeks to establish a "more proactive and intensive approach".
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- September 27 2023
Pen Underwriting makes senior level hires in Australia
Dean West has been appointed national construction and engineering manager and Hun Kim joins as chief actuary.
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- September 26 2023
Suncorp expects December tribunal hearing on blocked ANZ bank sale with decision in February
Pending all approvals including from the Australian Competition Tribunal, the group sees a potential sale completion in the middle of 2024, chairman Christine McLoughlin says.
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- September 25 2023
Chubb appoints Nikki Quain as New Zealand deputy property manager
Auckland-based Quain most recently worked at BHSI and has also had stints at Vero and AIG.
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- September 25 2023
Ominous start to spring weather in Australia, New Zealand puts (re)insurers on high alert
Bushfires, an El Niño declaration, record rain, landslides, heavy snow and an earthquake in the last few days point to busy six months ahead for claims' handlers.
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- September 25 2023
Crawford promotes Charlotte Lau to regional head of operations
Singapore-based Erwin Yu will take over from Lau as director of market development Asia.
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- September 22 2023
Lloyd’s partners UN to scale insurance access for climate-vulnerable countries in APAC
Initially focussing on building solutions across Fiji and the Pacific Islands, the partnership will seek to replicate the model in Asia and Africa.
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- September 21 2023
Canopius continues Australia expansion with two senior hires
Lucy Lumb joins the firm as underwriter, property coverholder and delegated authority, while Trisha Urquhart joins as underwriter - accident and health.
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- September 21 2023
Former CEO, CFO at New Zealand’s collapsed insurer CBL cleared of fraud charges
There were 11 cases brought by the country's Serious Fraud Office relating to transactions made by CEO Paul Harris and CFO Carden Mulholland in the run-up to the failure of the credit insurer.
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- September 20 2023
Steadfast’s Insurance Brands adds Peacock Insurance to its fold
The New South Wales-based brokerage specialises in heavy transport, earthmoving insurance and marine and logistics coverage.
