News Page 239 / 1047
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- November 15 2023
Envest-backed Fitzpatrick & Co acquires Bricher Insurance
The Victoria-based family-owned insurance broker deals with commercial insurance, professional indemnity, property and industrial special risk products and is part of the Steadfast Broker Network.
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- November 15 2023
Reinsurance carriers need to demonstrate they can provide capital, especially for property cat
Low capitalisation of insurers in APAC and regulatory pressure in certain markets is pushing demand, says Sompo International’s Pierre Balthazard.
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- November 15 2023
KB Insurance completes US$100m loss portfolio transfer deal with Swiss Re
With the Howden Tiger arranged deal, the Korean carrier will transfer its US commercial multiperil and workers’ compensation lines' net loss and unearned premium reserves to the reinsurer as part of the insurer's US branch wind down plan.
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- November 15 2023
Opinion: Government intervention key to addressing APAC’s insurability challenges
As insurers grapple with secondary perils, governments, especially in emerging Asia, need to look at prevention not cure.
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- November 14 2023
Canopius’ Mark Newman to take charge as UK CEO
The (re)insurer's APAC chief executive will assume his new role on January 1, 2024.
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- November 14 2023
New Zealand fully implements doubled natural hazard cover for insured homes
EQcover provides first loss insurance for damages caused by volcanic eruptions, earthquakes, tsunamis, land slips, and hydrothermal activity, as well as some limited cover for damage to residential land from storms and floods.
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- November 14 2023
Korean carrier Construction Guarantee’s rating outlook revised to positive on strong underwriting performance: Fitch
The rating agency assigned an insurer rating of 'A' (strong) and said the company will maintain its underwriting returns and capital position in FY 2023 .
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- November 14 2023
Tower nearly doubles discount lapse costs to US$10.3m, CEO apologises
The Kiwi insurer has now taken into account repayments to around 65,000 customers and also a potential regulatory penalty.
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- November 14 2023
Gallagher Australia acquires Edgar Insurance Brokers
The Cobram, Victoria-based family business is the fifth acquisition by the global broker in Australia this year.
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- November 14 2023
ICA panel to review general insurance code
The three-person panel led by former APRA deputy chair will complete the review in two phases deliver its findings by June 30, 2025.
