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- July 12 2022
IAG joins UN’s Net-Zero Insurance Alliance
The membership now represents close to 15% of the world’s premium volume.
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- July 12 2022
Gallagher acquires Australia’s National Insurance Group
The deal will open up the broker's geographic reach in Victoria’s Surf Coast.
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- July 12 2022
NSW claims rise to US$83m in latest flooding disaster
Over 10,500 claims have been lodged with insurers already, said the ICA.
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- July 11 2022
New South Wales flooding claims top US$65m: ICA
The latest flooding in the state is another significant loss event for insurers.
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- July 8 2022
Down to the wire Australian renewals signal market shift
In fraught negotiations, reinsurers adapt to higher frequency of secondary perils and climate change.
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- July 8 2022
ICNZ issues climate warning as tornado claims top US$5m
ICNZ CEO Tim Grafton said the unusual event on North Island likely to become more common.
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- July 7 2022
Steadfast merges two specialty underwriting agencies
UAA has combined with Mecon Insurance to form a construction and mobile plant 'powerhouse'.
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- July 7 2022
Time to learn from Australia’s unmitigated disasters
As insurers' budgets come under pressure and nat cats intensify, mitigation needs to be prioritised.
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- July 6 2022
IAG extends Munich Re quota share, finalises FY 2023 reinsurance
IAG will have a maximum event retention of US$92m, allowing for quota share arrangements.
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- July 6 2022
Australian market hit by ‘significant’ NSW flood event
Tens of thousands asked to evacuate in fast moving, dangerous situation.
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- July 5 2022
Howden buys Wallace McLean in New Zealand expansion
The Kiwi broker offers agriculture, shipping, freight and entertainment lines, among others.
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- July 4 2022
Suncorp ups FY 2023 cat allowance to US$800m amid more NSW bad weather
At the 1.7 renewals, Suncorp saw reinsurance premiums increase “significantly".
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- July 4 2022
Australia renewals much ‘tougher’ and ‘later’: Gallagher Re
The floods in NSW and Queensland contributed to price increases of up to 25%.
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- July 1 2022
Mixed reaction to Australia’s cyclone pool modelling data
There are potential premium savings of 38%, but up to 24% of Queensland homeowner policyholders could see rises.
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- June 29 2022
Australia’s Feb, March floods now third costliest nat cat: ICA
The floods in Queensland and New South Wales have caused over US$3.3bn of insured losses.
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- June 27 2022
Suncorp confirms ‘strategic’ review of banking operations
A sale or listing would let the company focus on insurance across Australia and New Zealand.
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- June 27 2022
Australia’s first data breach case puts pressure on cyber market
First conviction for breach of cyber security standards comes amid challenging market.
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- June 24 2022
Lockton Australia poaches NSW energy construction head from Aon
Alistair Williams started at the global broker in Sydney this month.
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- June 24 2022
Queensland’s RACQ confirms US$69m payout from Feb, March floods
Almost 5,000 home repairs have been completed or are underway.
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- June 23 2022
IAG’s NRMA Insurance hit by 30,000 claims from Feb, March floods
54% of Australians worried their property will be damaged by wild weather within 12 months.
