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- December 19 2023
Tokio Marine Holdings’ managing executive officer Robert O’Leary resigns
O'Leary has also been serving as the chairperson of the Japanese insurance group's US subsidiary Philadelphia Consolidated Holding since January 2021 and was formerly its president and CEO.
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- December 19 2023
Industry monitors maritime risks amid escalating South China Sea tensions
APAC insurers remain cautiously optimistic that the dispute will not broaden to involve the wider maritime community transiting the waters.
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- November 15 2023
KB Insurance completes US$100m loss portfolio transfer deal with Swiss Re
With the Howden Tiger arranged deal, the Korean carrier will transfer its US commercial multiperil and workers’ compensation lines' net loss and unearned premium reserves to the reinsurer as part of the insurer's US branch wind down plan.
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- October 24 2023
Vesttoo creditors seek to liquidate company and terminate all employees
The troubled insurtech, which the creditors' motion said is "viewed as the Madoff of insurance", is to file a response and expects the Bankruptcy Court to rule in November.
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- October 18 2023
Bolttech mulling US$300m US listing: report
The Singaporean insurtech is in talks with investment banks for the potential share sale, which may take place as soon as next year, according to Bloomberg.
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- October 11 2023
Allianz Partners, boltech tie-up for device and appliance insurance
Customers in Asia Pacific and the US will be able to purchase protection at the point of need for a range of household products, including mobile and digital devices, and household appliances.
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- October 6 2023
Steadfast expands into the US with US$55m broker agency buy
The Australian broker has bought the ISU Group, which has 239 independent members across 43 US states controlling more than US$6.5bn in premiums.
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- September 28 2023
Tokio Marine domestic fire lines to benefit from rate hikes, says AM Best while affirming its ratings
Double-digit growth in premiums and profits from US operations boost the Japanese carrier's international business despite Taiwan Covid-19 losses.
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- September 11 2023
US sanctions jet-fuel shipments to Myanmar: IGP&I
While restrictions apply only to fuel for military purposes, in practice, it may be impossible to prove that shipments are only for civil aviation, which may lead to exclusions in P&I cover.
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- August 18 2023
US insurers have US$1.3bn exposure to China Construction Bank letters of credit: AM Best
The Chinese lender has seen a 1,560% year-on-year increase in reinsurance collateral LOCs issued.
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- August 15 2023
Vesttoo files for Chapter 11 protection; board says no plans to liquidate
The move will provide the Israeli insurtech protection from its creditors and breathing room to pursue legal actions, the company claims.
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- August 15 2023
Tokio Marine, DB and MS&AD face losses from devastating Hawaii wildfires
The catastrophe is likely to lead to hundreds of millions of dollars of claims as overall costs climb to US$6bn.
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- August 14 2023
Exclusive: Vale Insurance Partners to establish Asia operations — sources
Vale is the seventh specialty insurance firm seeking to join the Asia M&A market in the space of 12 months.
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- August 3 2023
US ‘nuclear verdicts’ reverberate in Asia
Regional liability premiums may feel the pinch of US social inflation as supply chains recover.
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- July 11 2023
Gallagher appoints Victoria Ma as senior vice president for APAC practice group
Ma, who is a trade credit specialist, will provide services to Asia Pacific multinational businesses.
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- June 9 2023
BHSI promotes Dimitry Zilberud to head of marine – retail, Australasia and US
Zilberud was most recently Berkshire Hathaway Specialty Insurance's head of marine, Australasia.
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- June 7 2023
Asian carriers on the hook from ‘hundreds of millions’ of Guam typhoon claims
Tokio Marine, MS&AD, DB and Chung Kuo among hit as Typhoon Mawar caused extensive property damage, but high deductibles could help keep losses down.
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- June 1 2023
Opinion: Florida’s return to orderly renewals a welcome sign for APAC
Prospects of 30-40% rate hikes tempt reinsurers back to a normalised attitude towards the assumption of nat cat risk as 1.6 draws to a close.
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- April 24 2023
QBE appoints Serene Davis as global head of cyber
Davis was previously with Beazley as regional manager of the West and head of the Los Angeles office.
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- April 20 2023
BOC Aviation awarded US$400m by US court for planes stranded in Russia: report
The aircraft lessor said AirBridgeCargo went into default after being unable to maintain required reinsurance coverage.
