News Page 23 / 909
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- May 30 2024
Central and western Australia to see above-average winter rainfall: BOM
The Bureau of Meteorology forecast said that the country is likely to have higher temperatures than usual for this time of the year following an autumn that was warmer for most parts.
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- May 30 2024
Australian MGA Ocean Underwriting to launch financial lines cover with Wade Cadman in charge
The Sydney-based MGA's and Lloyd's coverholder's new product will target SMEs and will be led by Cadman who joins from MGA Brooklyn Underwriting.
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- May 30 2024
Union Insurance’s capital restored to pre-Covid levels: AM Best
AM Best affirmed its financial strength rating of "A-" (excellent) with a stable outlook, citing a very strong balance sheet and adequate operating performance.
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- May 30 2024
Dual recruits Ed Birrell to expand ANZ title insurance business
Most recently as Dual Asset's head of UK M&A, Birrell will relocate to Sydney from London and start his new role in June.
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- May 30 2024
Australian consumer lobby calls for ‘significant reforms’ to general insurance code
The current code of conduct is riddled with loopholes that insurers have exploited, failing to provide adequate protection for consumers during critical times, says ACIL, which has formulated a set of 52 recommendations.
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- May 30 2024
Dual expands New Zealand operations with Wellington office
The new office will be the company’s first office outside Auckland and reflects the company’s growing presence in New Zealand.
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- May 29 2024
Cyclone Remal floods villages, cuts power, shuts airports in Bangladesh, India
The cyclone has affected 3.7 million people along the coast and killing at least 16 people as of May 28.
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- May 29 2024
GIC Re’s FY 2024 underwriting losses near US$500m
The India state-owned reinsurer’s COR deteriorated to 111.82% for FY 2024, while GWP for the period grew marginally to US$4.5bn.
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- May 29 2024
Geographic diversification will support Japan P&C insurers’ profitability: Moody’s
- P&C
- Japan
- Aioi Nissay Dowa Insurance
- Mitsui Sumitomo Insurance
- MS&AD
- Sompo
- Tokio Marine
- Tokio Marine & Nichido Fire
While the sector's outlook is stable, the insurers' overseas premium growth would slow in the next 12-18 months, the rating agency said.
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- May 29 2024
APRA proposes US$22m in levies funding for Australia’s general insurance sector
The total operational costs of the regulators to be recovered from the general insurance sector in FY 2024 is 10.8% higher than the previous financial year, the Treasury said in a discussion paper.
