News Page 266 / 1086
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- December 14 2023
Australian cyclone pool expects to cover 94% projected ultimate exposure by year-end
Nine out of 11 large insurers have already joined the ARPC while IAG and Autor & General will join by December 31; The pool made an underwriting loss of US$2.75m from a GWP of US$100m in FY 2023.
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- December 13 2023
Korean regulator sets mandatory crypto insurance requirement on operators
Virtual asset service providers must set a min 5% compensation limit based on customers’ virtual assets stored in hot wallet, the Financial Services Commission said.
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- December 13 2023
BHSI Australia hires AIG’s Michael Hannigan as underwriting manager for corporate property
In his new role, Melbourne-based Hannigan will cover corporate property across Victoria, South Australia and Tasmania, reporting to national manager for corporate property Anna Spink.
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- December 13 2023
IRDAI objects Reliance General Insurance owner’s plan to rejig ownership: report
The Indian insurance regulator has termed the move as “premature” and “sub-judice” as certain court cases are yet to be concluded.
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- December 12 2023
Australia prepares for Cyclone Jasper as ARPC declares cyclone event
The tropical cyclone is expected to cause extremely strong winds, heavy rain, and storm surge, with severe weather warnings already in place in northern parts of Queensland.
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- December 12 2023
Kiwi insurers settle claims worth US$1.7bn from twin weather events: ICNZ
87% of 115,353 claims worth US$2.2bn for Auckland Anniversary Weekend floods and Cyclone Gabrielle, two largest insurance weather events in the country's history, have been settled.
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- December 12 2023
China to pilot expanded agri cover scheme
The public-private partnership programme will provide coverage to rubber farmers in Yunnan, Hainan either on the costs or revenue of the insured plantation.
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- December 12 2023
Opinion: Navigating difficult waters for the Asia D&O market
A robust commitment by the regulators to adopt a stricter approach to enforcement means that this is by no means and easy class of business to write in 2024.
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- December 12 2023
GIC takes majority ownership in Miller with Cinven buyout
The Singaporean sovereign wealth fund has increased its stake since its acquisition in 2021 and provided an exit to the PE investor.
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- December 11 2023
Crawford picks Reuben Francis from Sedgwick as deputy managing director for Malaysia
Kuala Lumpur-based will be responsible for the technical quality and delivery of loss-adjusting services, client management and business development.
