News Page 251 / 1059
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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.
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- November 14 2023
Cosco Shipping Development sells Hong Kong insurance broking arm to group company for US$34m
Cosco Shipping International will take over the SAR-based Helen Insurance, which is principally engaged in vessel-related insurance brokerage services.
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- November 14 2023
Kiwi carriers resilient despite record cat claims: AM Best
Solid premium growth on rate hikes and capital buffers afford a stable outlook for the industry, according to the rating agency.
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- November 13 2023
Tokio Marine floats disaster prevention and mitigation services firm
Led by Masashi Namatame as president, Tokio Marine Resilience will support customers and local communities by paying claims as well as address the causes of losses such as flooding, landslides, earthquakes, and tsunamis
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- November 13 2023
Peak Re to improve underwriting profitability in the next 12-18 months: Moody’s
The rating agency has affirmed its Baa1 rating taking into account the company’s a3 standalone credit profile, solid capitalisation, expanding product and geographic diversification and liquid investment portfolio.
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- November 13 2023
Envest-backed Aviso buys Sydney SME specialist
The Trent Mockford-owned corporate authorised representative business has US$3.82m in gross written premium.
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- November 13 2023
IAG joins Australian cyclone reinsurance pool
The carrier's brands will pass on savings from the pool to new customer policies and renewals for home, commercial property, residential strata and landlord policies.
