News Page 216 / 1058
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- February 19 2024
Axa XL appoints AIG’s Chris Cheng as Hong Kong head of casualty
Cheng will be responsible for developing casualty portfolio across Hong Kong, China and Macau.
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- February 19 2024
David Howden sees commercial insurance rates flattening this year: report
The Howden chief executive told the FT that the business insurance market is beginning to see 'green shoots' with a recovery in (re)insurance capacity.
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- February 19 2024
Skuld, Steamship and West P&I offer reinstatements as all clubs cancel Red Sea war cover
Some of the other clubs are still exploring solutions to offer buy-back cover from the reinsurance markets; Gard has announced an extension of cover for crew liabilities.
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- February 16 2024
Noto earthquake insurance payout reaches US$137m: industry association
Insurers have about a third of the 76,500 accepted claims settled as of January 31, according to GIAJ.
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- February 16 2024
ICA declares Victoria Valentine’s Day storms ‘significant event’ with claims set to cross 10,000
Insurers have reported a large uptick in claims over the past day, with 9,947 claims lodged related to the storms, which saw around 530,000 homes left without power across the state.
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- February 16 2024
Perils hikes Cyclone Gabrielle final loss estimates to US$1.32bn
The total loss from New Zealand's twin weather events last year has reached US$2.7 billion with Auckland floods costing more at US$1.36bn.
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- February 16 2024
QBE FY 2023 GWP rises 8% on higher premium rates
Net profit more than doubles for the full year of 2023, although still missing analysts' expectations. Its COR improved marginally to 95.2%.
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- February 16 2024
IAG’s H1 2024 underwriting profit up 24% to US$211m , COR improves to 92.8%
The insurer's GWP grew 12.5% on premium increases and strong New Zealand business, but its net profit fell 13% year-on-year.
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- February 16 2024
Mitsui Sumitomo plans to expand MS Amlin’s London capacity by 50% in 5 years: report
The Japanese group will invest more into the specialty player and use it as a driver to lead its international growth going forward.
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- February 16 2024
Queensland’s CS Energy sues five insurers for US$195m claims from explosion: report
Insurers, including AIG, Allianz, BHSI, Liberty Mutual and Lloyd's syndicates, were named by a unit of the state-backed power company for failing to pay out claims related to a 2021 explosion, according to an AFR report.
