Industry Segments: P&C Page 7 / 72
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- November 14 2024
Envest acquires majority stake in Bendigo Insurance Brokers
The merger will add the broker to the network of Aviso Group and will bring the combined GWP up to US$616.4bn with the addition of the broker's US$13.3mn of gross written premium.
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- November 12 2024
New Zealand central bank warns Quest Insurance over non-compliance
Quest has acknowledged and remedied the breaches of its obligations and is in the process of implementing further risk management measure, RBNZ said.
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- November 12 2024
Amit Ganorkar returns to Tata AIG as managing director and CEO
Ganorkar, who was previously the chief operating officer of the Indian insurer, takes over from Neelesh Garg, who resigned last month.
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- November 12 2024
AIG Korea takes Aon’s Han Bit Kim as financial lines underwriter
Seoul-based Kim was most recently manager for the broker focused on the dynamics of large complex insurance policies.
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- November 11 2024
China’s ZhongAn’s operating performance is subject to investment volatility, business risk: AM Best
The rating agency affirms financial strength rating of A- (excellent) and long-term issuer credit rating of “a-” (excellent) to the carrier with a stable outlook.
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- November 11 2024
NZ non-life segment growth to remain robust even as carriers adjust rates: AM Best
In its latest report on the segment, the rating agency has maintained a stable outlook citing solid premium growth supported by rate adjustments.
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- November 11 2024
RJC Insurance Brokers launches in New South Wales
The broker will be led by managing directors Russell and Julie Chegwyn and will place and manage covers for businesses in industries ranging from rail construction & maintenance to civil construction.
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- November 8 2024
Fitch downgrades Suncorp Group following banking exit, higher reinsurance retentions
The group’s main non-life arm AAI’s financial strength rating has been changed to A+ from AA-.
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- November 7 2024
Indian reinsurers shifting towards enhanced domestic capacity and innovation: J.B. Boda
Domestic carriers are seeking partners who can offer capacity, support growth, advanced analytics and broad-based expertise, said Rohit Boda.
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- November 6 2024
Xiaomi joins BNP Paribas, Volkswagen to enter Chinese non-life market
The country’s regulator has approved Beijing BNP Paribas Tianxing Property & Casualty Insurance as three-way JV between the smartphone maker's financial services arm, the French banking group and the carmaker's local lending arm.
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- November 5 2024
Hallmark Insurance’s parent St Andrew’s Australia Services get APRA nod as holding company
The registration allows the firm to oversee one APRA-authorised life insurer and one general insurer under the regulatory framework.
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- November 1 2024
KB Insurance sees growth in capital and surplus: AM Best
The rating agency has affirmed the financial strength rating of A (excellent)for the South Korean carrier with a stable outlook.
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- November 1 2024
Tower CEO Blair Turnbull to step down
Turnbull will leave the Kiwi carrier on February 12, 2025, following its annual shareholder meeting.
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- November 1 2024
Japanese watchdog fines non-life insurers US$13m for price fixing
The report highlighted the summary of violations of antitrust rules by Mitsui Sumitomo, Sompo Japan , Aioi Nissay Dowa and Tokio Marine & Nichido Fire.
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- November 1 2024
APAC reinsurers prioritise profit amid slower premium growth: AM Best
Asian reinsurers have restructured their retro programs, leading to adjustments in cat capacity and a reduction in cat exposure accumulation, says AM Best’s Christie Lee.
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- November 1 2024
APAC’s economic surge to drive global insurance market growth: Gallagher Re
The cyber insurance market in the Asia Pacific region is growing at an annual rate of about 50%, according to the broker's latest regional market watch.
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- October 31 2024
Sompo, Bigmotor to investigate past claims frauds to compensate customers
Bigmotor has changed its name to BALM following the scandal and is planning to announce a concrete recovery strategy for customers next month.
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- October 28 2024
Marsh appoints Shahrezal Wan as placement manager
Singapore-based Wan was previously vice president, senior client underwriter with Swiss Re.
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- October 25 2024
Pacific rates drop 6% in Q3 driven by declines in finpro, cyber and property lines: Marsh
Finpro premiums was down 14%, while cyber cover saw a 11% disclose and property declined 6% as increased competition and capacity weighed on ratings.
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- October 24 2024
IAG on track to deliver FY 2025 guidance: CEO
The Australian carrier has guided an insurance margin of 13.5-15.5%, and GWP growth of ‘mid-to-high single digit' in the current financial year.
