Country: Pacific Page 7 / 103
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- October 1 2024
MGA incubator Rhodian takes Allianz team to launch marine specialist in Australia
The MGA Marinex Underwriting is backed by Canopius and will offer cargo, carriers, commercial hull and marine liability products.
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- September 30 2024
ICNZ calls on law changes to stop building in “dumb places”
The government has outlined its plans to replace the Resource Management Act, with changes that will provide the ability to decline land use consents, or attach conditions where there are significant risks from natural hazards.
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- September 30 2024
ARPC to raise premium rates for cyclone reinsurance pool
The 2024 pricing review of the cyclone pool premium rates targets the introduction of premium discounts for strata properties and maintaining the price algorithm to rate for new addresses registered since the previous review and address insurer feedback to make the pricing algorithm more consistent with market practise.
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- September 30 2024
Dual New Zealand promotes Richard Robinson to head of motor
Auckland-based Robinson has worked at the Howden-owned MGA for three years and was senior property underwriter before the latest appointment.
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- September 26 2024
PSC shareholders approve Ardonagh’s US$1.5bn takeover
The broker merger in Australia is now pending final approval by the court, which is slated for October 1.
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- September 26 2024
Next Queensland government should axe stamp duty: ICA
ICA forecasts an 8% reduction in premiums if the next state government removes a 9% stamp duty on insurance, which is imposed after a goods and services tax.
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- September 26 2024
Australian brokers’ reported breaches in 2023 up 36% with US$6.5m impact on clients: IBCCC
In the 2023 Annual Data Report, the independent body tasked to monitor practitioners' compliance with the Insurance Brokers Code of Practice in Australia also highlights its concerns on brokers' failure to disclose their commissions to over 8,000 clients.
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- September 25 2024
Price Forbes ropes in Honan’s Thomas Russell to spearhead Singapore ANZ division
Russell has taken up the newly created role as director, head of Australia and New Zealand wholesale for Asia in a newly created position reporting to Phil Johnson, CEO for APAC.
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- September 24 2024
BMS New Zealand expands North Island team with Aon hire
Tim Emms will join the firm as an executive broker for its Auckland team and will be working with Nathan Richmond who assumed regional director role on May 1.
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- September 24 2024
Australian Federal Court rules to declass four BI class actions against insurers
The ruling is regarding representative proceedings regarding Covid-19 business interruptions claims against IAG, QBE, Lloyd's syndicate 2003 and Hollard.
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- September 24 2024
Howden Pacific builds out construction practice with Alistair McBride hire
Melbourne-based McBride, who will head the broker's regional business, has been in the construction sector since 2013, having various roles in underwriting and broking across the New Zealand, London, US, and Canada markets.
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- September 23 2024
Tower raises cat reinsurance excess for first two events to US$11.7m
An excess for a third event remained unchanged at US$12.5m, while the Kiwi P&C player has increased its upper cat limit to US$500m from US$468m for FY2025.
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- September 20 2024
NZ fire levy increase revised downwards amid funding review
The levy hiked to 12.8% in July and Fire and Emergency New Zealand (FENZ) was set for an additional 5.2% increase to 2029. However, the government has revised the percentage to 2.2%.
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- September 20 2024
Lockton promotes Williams to fintech, blockchain advisory leader for Asia, Australia
Melbourne-based Bob Williams was previously a vice president with the broker for over two years. In his new role he will focus on developing insurance appetite from emerging tech companies.
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- September 20 2024
New South Wales passes tougher strata law to restore confidence
The new law bans managing agents from receiving a commission on insurance products when they don’t play a role in finding the best deal for residents, as it seeks to crack down on agents who do not properly declare conflicts of interests.
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- September 19 2024
Australian, UK regulators greenlight Ardonagh’s takeover bid for PSC
The US$1.5bn scheme of arrangement to buy all the shares of the Australian broking group is now pending PSC's shareholders' and the court's approvals.
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- September 18 2024
Australia’s reinsurance pool led to a 21% fall in home premiums: study
The study by an MIT researcher claims that public reinsurance is a cost-effective policy solution for rehabilitating insurance markets affected by catastrophic climate risks.
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- September 18 2024
American bond insurance specialist BAM launches in ANZ
The monoline mutual will focus on energy transition and social infrastructure projects in the region.
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- September 17 2024
Suncorp CEO Steve Johnston to chair ICA board
Johnston, who joined the ICA board as director in August 2021, will begin his term as chair on January 1, 2025, succeeding Nick Hawkins, IAG managing director and CEO, who has served as president of the board for the past two years.
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- September 17 2024
Howden expands Australia presence with Collegial Insurance’s portfolio acquisition
Collegial was founded in 2015 by director Russell Farrington and has a diverse portfolio ranging from listed corporates to SMEs.
