News Page 226 / 998
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- August 21 2023
Australian carriers paid out US$23bn in claims last year: ICA
In 2022, more than 300,000 disaster-related claims were lodged from four declared insurance events across the country, costing more than US$4.4bn in insured losses.
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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 18 2023
Court upholds MG Non-Life insolvent status, sale process to continue
With the majority shareholder JC Partners losing the case, state-owned KDIC is likely to resume the sale by the end of this month.
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- August 18 2023
AM Best downgrades Pakistan’s EFU following sovering rating downgrade
AM Best has given the general insurer a B- (fair) rating down from B (fair) while its outlook has been revised to negative from stable.
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- August 18 2023
AM Best expects Korea P&I Club’s ‘underwriting fundamentals’ to improve; affirms ratings
After a difficult few years, the Korean carrier has been taking action such as premium increases, the non-renewal of unprofitable policies and enhancing terms.
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- August 18 2023
Chung Kuo earnings to be hit by impairment losses from reinsurance recoverables: Moody’s
The rating agency affirmed the Taiwanese insurer's rating at A3 with a negative outlook.
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- August 18 2023
Axa XL’s Ewen McKay to head international financial lines for Australia
Sydney-based McCay was most recently product leader - management liability for the French carrier.
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- August 18 2023
Tamara Gabriel joins Berkley Insurance Australia as senior underwriter
She has joined the specialty player's facilities team from Tokio Marine & Nichido Fire Insurance.
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- August 18 2023
Sedgwick Australia consolidates engineering and construction under Andre Mataia
Mataia became the loss adjuster's head of construction for Australia in March.
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- August 17 2023
Chubb announces new country heads for Japan, Korea
Edward Kopp has been named regional president for the Far East and country president, Japan, and Janice Mo takes over as country president for Korea.
