News Page 150 / 911
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- July 21 2023
AIG hires Chubb’s APAC P&C head as Australia CEO
Grant Cairns will also become head of Australia and New Zealand from the beginning of November and will report to Chris Colahan, AIG's APAC leader.
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- July 21 2023
Opinion: Australian flood inquiry needs to broaden scope to probe impact of state taxes, land use rules
A shortage of expert assessors, building labour and materials constraints, and the complexity of recovery and resilience programmes delivered by state governments exacerbate problems.
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- July 20 2023
Japan P&I Club returns to profit with 80% jump in premium income
A 10-15% rate increase, additional supplementary calls and sale of real estate assets helped the marine insurer script a turnaround.
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- July 20 2023
QBE raises FY 2023 cat budget to US$1.33bn
The insurer currently expects H1 2023 net catastrophe costs of around US$700m compared to an original budget of US$535m.
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- July 20 2023
Reliance General to receive US$24m equity infusion in group takeover: report
The capital infusion is crucial for the general insurer to increase its solvency margin to 175% from 155%.
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- July 20 2023
China Construction Bank at centre of Vesttoo US$4bn reinsurance collateral fraud: report
Forged letters of credit issued by the Chinese lender is revealed to have been used by investors for ILS transactions on the insurtech platform.
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- July 20 2023
Tower warns of potential loss in FY 2023 due to challenging claims environment
The Kiwi carrier’s large events allowance of NZ$50m has depleted to NZ$10.5m for the remainder of the year to September 30, 2023.
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- July 20 2023
Tokio Marine Kiln expands its cyber presence with Axa XL hire
Singapore-based Sam Bye will start in the role of a cyber underwriter from August 1 and report to APAC underwriting director Jamie Tang.
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- July 19 2023
Chinese carrier Zhonglu’s COR improves to 100% on better risk selection: Fitch
The Qingdao-based insurer, rated BBB (good) with a stable outlook, is rapidly expanding its non-motor business and readying for capital injection.
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- July 19 2023
APAC braces for escalating droughts, increased bushfires as El Niño develops: Gallagher Re
The first half of 2023 saw above-average nat cat losses with APAC accounting for 12% of an estimated US$138bn of global economic losses.
