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- October 24 2024
Marble Re’s underwriting profitability to remain stable: AM Best
AM Best has affirmed the captive reinsurer’s rating at A- (excellent) with a stable outlook, driven by its strong balance sheet and strong operating performance.
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- October 24 2024
Lloyd Warwick International appoints Scott McNeill as natural resources loss adjuster
Perth-based McNeill (pictured) is a chartered civil engineer and project manager with 19 years of experience in engineering, construction and insurance.
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- October 23 2024
Australian consumer body urges regulatory intervention on general insurance guidelines
Australian Consumers Insurance Lobby highlighted inadequate standards prevalent in expert reports while handling insurance claims processes.
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- October 23 2024
Sedgwick appoints Nigel Lloyd as director of resources and power generation
Perth-based Lloyd has 12 years of experience managing complex claims in the resources, power generation and construction sectors.
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- October 23 2024
ASIC sues QBE for allegedly misleading customers over loyalty discounts
The corporate regulator said the insurer's pricing model reduced the discounts promised to customers on policy renewals.
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- October 23 2024
Ardonagh-backed Cornerstone Risk Group continues NSW expansion with Tony Barlow Insurance buy
This the Brisbane-headquartered broker's second acquisition in New South Wales this year.
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- October 22 2024
Cyclone pool earned premiums ‘significantly’ lower than expected: ARPC
The 2024 Financial Outlook Report by the Australian Reinsurance Pool Corporation stated that the cyclone pool recorded an overall surplus of US$291m in FY 2024.
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- October 22 2024
Australia financial services minister defends brokers commisions
Minister Stephen Jones confirms that broker commissions are safe and they are not the issue at the heart of the recent allegations from the Australian Broadcasting Corporation on hidden fees and secret kickbacks in the strata industry
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- October 22 2024
Australian financial ombudsman tells Suncorp to scrap 60% home premium hike: report
The action against the carrier follows recent regulatory fines against several insurers over allegations of mispricing and a class action suit against IAG over excessive hikes in home insurance renewal premiums.
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- October 22 2024
General insurers’ bodies urge heads of Commonwealth nations to discuss extreme weather impact
The four associations agreed that as extreme weather intensifies, populations expand and more homes are put in harm’s way, the insurance protection gap will widen.
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- October 21 2024
Axa XL grows Australia presence with three senior hires in Perth
It has hired senior underwriters Chris McElroy from BHSI for property, Amanda Rattue from Vero for financial lines Trent Jeuring from Chubb for casualty.
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- October 18 2024
Australian flood inquiry report makes 86 suggestions after insurers’ ‘collective failure’
The Parliamentary inquiry into carriers' flood response highlights mishandling of cases, inconsistent decision making and long delays, and calls for government intervention to mitigate risk related to the fast-growing number of uninsurable properties,
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- October 18 2024
Analytics: Australian intermediated premiums grow 8.2% in 2023-24
While the GWP placed with Lloyd’s in the 12 months grew at a comparable pace, business placed with unauthorised foreign insurers declined marginally.
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- October 17 2024
APRA urges carriers to reflect on MGA risks, prioritise 2025 prudential standards
Executive board member Suzanne Smith said that a focus for the regulator in the coming year is the risk associated with outsourced underwriting to agencies.
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- October 17 2024
HDI Global names Adriana Giometti as market manager in Australia
Sydney-based Giometti will be in charge of major accounts practice, strategic agreements and German international programmes.
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- October 17 2024
Mitsui Sumitomo to offer Australia cyber capacity to Coalition
The multi-year agreement, starting January 1, 2025, will include collaboration on cybersecurity solutions for small and medium-sized enterprises in Japan.
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- October 16 2024
Scor promotes Paula Bourke to CEO of life and health for ANZ
Sydney-based Bourke was most recently the reinsurer's regional deputy CEO and global head of proposition and innovation, L&H.
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- October 15 2024
Envest unveils leadership rejig following completion of PSC deal
The restructure will see PSC's ANZ chief executive David Hosking leave the combined group at the end of this month.
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- October 15 2024
Jamie Taylor joins Howden Insurance Brokers Australia as partner
In his new role, Brisbane-based Taylor will be in charge of corporate risks and sport & entertainment.
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- October 11 2024
Tower nearly doubles FY 2024 NPAT guidance to US$50m
The carrier's results to benefit from no large events being recorded in the financial year and stronger-than-expected business performance.
