News Page 165 / 1047
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- May 23 2024
AUB completes US$132m placement for Pacific Indemnity deal
The Australian broker issued 7.3m new shares in a private placement primarily to fund the Pacific Indemnity acquisition, with excess funds allocated for other M&A deals in the pipeline.
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- May 22 2024
Aon promotes Sharad Vishvanath as enterprise client leader in India
In his new role, Vishvanath will focus on advising large clients on complex issues relating to risk and human capital.
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- May 22 2024
Diot-Siaci to buy majority stake in Indian broker Unilight
The agreement is expected to strengthen Diot-Siaci's presence in Asia and allow the European broker to participate in the expansion of the Indian insurance market.
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- May 22 2024
IAG launches SME-focused cyber underwriting agency Cylo
The MGA is backed by the Australian carrier's commercial insurance arm CGU and will offer up to US$1.3 million cover against cyber attacks for small businesses.
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- May 22 2024
AUB to acquire financial lines specialist MGA Pacific Indemnity
The Australian broking group will pay up to US$93.4m for 70% of the underwriting agency and it has launched a US$133m private placement to fund the deal.
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- May 22 2024
Income Insurance exploring strategic options for APAC expansion: Bloomberg
The Singaporean insurer had provided liquidity to almost 16,000 shareholders for holdings worth US$619m through a private exchange listing last month.
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- May 21 2024
Temasek, Warburg Pincus team up to acquire broker Specialist Risk Group
The deal is reportedly aimed at helping the London broker to expand internationally, including in Asia.
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- May 21 2024
Japan rainstorm claims top US$610m in FY 2023: GIAJ
The country's carriers received 58,695 claims from two cat events last year, however, the cost to insurers from rainstorms was 66% lower than the year before.
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- May 21 2024
New Zealand to expand scope of fire insurance levies to aviation, forestry from 2026
Fire and Emergency New Zealand will also increase transitional levies on fire insurance by 12.8% from July 1 this year.
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- May 21 2024
ICA sets up counter fraud and scam function, appoints Andrew Gill as CEO
The function will provide an industry-wide capability focused on detecting organised fraud networks and identifying emerging fraud-related trends or criminal scams.
