News Page 519 / 1279
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- July 19 2023
APAC braces for escalating droughts, increased bushfires as El Niño develops: Gallagher Re
The first half of 2023 saw above-average nat cat losses with APAC accounting for 12% of an estimated US$138bn of global economic losses.
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- July 19 2023
Liberty’s Asia reorganisation will have ‘no job impacts’
The realignment from August 1 brings together all the insurer's businesses in Asia under the leadership of Phil Hobbs, president and managing director, Liberty Specialty Markets.
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- July 19 2023
China Taiping deputy general manager resigns following reports of corruption probe
Xiao Xing, who has been with the insurer since 2013, is being investigated by the country's anti-graft watchdog.
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- July 18 2023
Gallagher acquires Queensland broker Thompson Insurance
This is the second acquisition in the Sunshine Coast region which is anticipating higher economic development.
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- July 18 2023
Arch Australia strengthens property team with Allianz hire
Sydney-based Nick Wood has been appointed national property underwriting manager with responsibility for Australia and the Pacific region.
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- July 18 2023
Allianz Trade appoints Chris Markesteijn as APAC head of surety and guarantees
Markesteijn, who is relocating to Singapore, will replace Christopher Shortell who will move to the role of surety services director at Allianz Trade Americas.
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- July 18 2023
CNPC Captive’s COR improves 24 points to 71% on reserve releases: Moody’s
The rating agency affirming the captive's A2 rating noting that it has reduced exposure to cat perils after it ceased insuring some pipeline assets divested by CNPC.
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- July 18 2023
Australia’s Rhodian launches its first underwriting agency
Halo Underwriting is a property and liability MGA backed by Lloyd’s which offers cover for specialty risks for SMEs and the mid-market.
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- July 17 2023
Tokio Marine’s underwriting profitability to improve modestly: Moody’s
The rating agency affirmed the insurer a rating of Aa3, one notch above the Japanese sovereign rating of A1, with a stable outlook.
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- July 17 2023
Greensill administrator sues IAG for US$2.25bn over Liberty Steel dues: report
The Germany-based administrator claimed that any amount not repaid by Liberty should be recoverable under the insurance from the Australian insurer.
