Industry Segments: Property Page 2 / 6
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- May 3 2024
Chubb set to pay US$350m in claims from collapsed Baltimore bridge: reports
The payment is expected to be authorised within weeks, the reports said quoting an executive from WTW, who was the broker on the policy.
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- May 2 2024
Chubb promotes Kate Burke to international personal lines head for APAC
Singapore-based Burke will be responsible for growing the insurer’s motor, residential, specialty and high-net-worth business lines across the region.
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- April 25 2024
Asia commercial insurance rates decline 2% in Q1: Marsh
Property, casuaty, finpro and cyber rates fell in the first quarter the year in Asia, while in the Pacific, property stabilised while casualty premiums continued to grow for the fourth consecutive quarter, albeit at a slower clip.
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- April 18 2024
Karen Leslie returns to Crawford Australia as senior strata adjuster
Joining from loss adjuster and consultant Technical Assessing, Brisbane-based Leslie reports to head of strata Ryan Neville.
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- April 18 2024
Australia’s strata insurance sector in ‘race to bottom’ as questionable practices abound: ACIL
A survey by the Australian Consumers Insurance Lobby has found a range of potentially unlawful practices in the industry that warrants regulatory intervention.
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- April 16 2024
WTW appoints Andrew Lam from Aon as property placement broker for Asia
Singapore-based Lam has handled north Asia property & casualty placements extensively during his over decade-long experience.
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- April 15 2024
Arch Insurance Australia appoints Carmen Tung as Southern region underwriting manager, casualty
Melbourne-based Tung's appointment follows the promotion of Chris Wild to Northern region underwriting manager, property.
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- April 12 2024
Sure raises Northern Queensland residential strata cover to AU$20m to improve access
The move is expected to allow body corporates and lot owners who have been challenged by affordability or under-insuring their complexes to access "alternative strata premium offerings", the insurer said.
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- April 11 2024
Beazley expands Asia property underwriting team with Axa XL hire
Singapore-based Chun Kiat Goh will help build the Lloyd's player's open market property book across APAC.
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- April 10 2024
NSW ‘black nor’easter’ storms declared significant event as claims top 11,500: ICA
Suncorp, which received 2,700 claims, and IAG, with 3,100 claims, have said that almost 80% of the losses are coming from property damage.
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- April 10 2024
Australian insurtech Honey raises US$71.5m in a series A funding
The investment for the specialist home insurance startup backed by RACQ was led by the US private firm Gallatin Point Capital.
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- April 9 2024
April 1 renewals point to signs of reinsurance market peaking
The orderly 1.4 renewals saw a revival in property cat appetite, and modest reductions in rates and easing of conditions, though retentions remain high and per risk and US casualty continue to be hard to place.
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- March 27 2024
Canopius Asia hires Patrick Fyson as APAC property head
Singapore-based Fyson will look to grow the company’s property underwriting business in the region.
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- March 25 2024
Tokio Marine Kiln strengthens property capabilities in Asia Pacific with Chubb hire
Jonathan Grossman will relocate to Singapore from New Zealand to write property business for the Lloyd's player across APAC.
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- March 25 2024
SHKPI’s underwriting result benefits from low acquisition cost model: AM Best
The rating agency affirmed Sun Hung Kai Properties Insurance's long-term issuer rating of ‘a’ (excellent) with a stable outlook as it benefits from parent's distribution channel.
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- March 15 2024
Chubb elevates Nikki Quain to New Zealand property manager
Auckland-based Nikki Quain will lead the strategy and growth for Chubb New Zealand’s property portfolio.
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- March 12 2024
Asia Pacific market increasingly bifurcated in Q4 2023: Aon
While nat cat exposed areas were hardening, financial Lines and mid-market property programs retained in domestic insurance markets were soft.
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- March 6 2024
Reinsurance pricing likely to peak in 2024: Moody’s
The demand for reinsurance will remain robust in 2024, despite subdued economic growth, which will support strong sector earnings, according to a new global report.
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- March 4 2024
New capacity ‘crucial’ for Asia’s riskier nuclear property market
As Asian countries move to embrace nuclear generation in line with their net-zero goals, the region needs new insurers to tame heightened risks from nuclear property and liability, says Marsh.
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- February 22 2024
India property cat rates rose 50% past nine months: report
Storms, tempests, floods, and inundations rates are expected to be further revised upwards during April 2024 renewals.
