Country: Pacific Page 74 / 119
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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.
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- June 22 2022
David Longley to oversee Arch’s Aussie PI underwriting team
He has over 25 years of market experience and was previously at Axa XL.
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- June 21 2022
ABICO Insurance Brokers acquires Ausure Macarthur
Jarrod O’Brien, owner of Ausure Macarthur, was looking to leave the market.
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- June 20 2022
ASIC eases claims burden for general insurers
Employees who provide claims-handling services will no longer have to register.
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- June 17 2022
APRA grants Australian Reinsurance Pool Corporation authorised reinsurer status
The new cyclone reinsurance pool is expected to start in July.
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- June 16 2022
BMS acquires Australia’s SRG Group
The broker's seventh deal in two years will add scale to its Aussie operations.
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- June 15 2022
IAG New Zealand taps Tower for distribution role
Paula ter Brake will start in September and report to chief executive Amanda Whiting.
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- June 13 2022
Tower completes sale of Papua New Guinea subsidiary
Local P&C player Alpha Insurance has bought the book as Tower focuses on other Pacific Islands.
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- June 13 2022
New Zealand secures record NZ$7.2bn EQC reinsurance cover
EQC chief executive said the country is "punching above its weight" on the global stage.
