Industry Segments: Property Page 3 / 8
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- July 24 2024
Asia insurance rates decline 3% in Q2 led by finpro and cyber lines: Marsh
Rates drop for the second-straight quarter and widened from the 2% drop recorded in the first quarter. Led by D&O, finpro lines had the highest decline at 9%, while cyber rates declined by 6%.
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- July 24 2024
Pacific insurance rates decline 5% led by finpro, cyber and property lines: Marsh
Casualty was the only line that saw a slight increase with the rates going 1% up, however, the lowest in many years, as capacity and competition increased from new and existing markets.
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- July 17 2024
Mitsui Sumitomo-backed Haven Underwriting launches in Australia
Sydney-based MGA, founded by Barnaby Williams, will offer industrial special risk property cover.
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- July 12 2024
Axa XL expands Australian team with two senior hires
Based in Sydney, Sugra Kaur has been appointed senior casualty underwriter while Melbourne-based Rhys Anthony has joined as senior claims specialist for property.
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- June 25 2024
Vero Insurance ropes in Nathan Mendez as senior underwriter for property lines
Sydney-based Mendez, who joins from AIG, will be responsible for New South Wales and Australian Capital Territory markets.
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- June 24 2024
Australian cyclone pool kicks off strata premium rate review
The main change being considered is the introduction of mitigation discounts on wind premium rates for eligible strata policies to improve incentives to reduce and mitigate risk.
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- June 20 2024
Australian MGA Market Lane expands claims and property teams with two hires
The MGA has appointed Marie Domingo as a claims executive and has relocated Christine Penny from Dublin to Sydney as an assistant underwriter, property for its specialty commercial insurance underwriting arm The Barn.
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- June 12 2024
Australia’s strata insurers get cold feet about lithium battery risks
Lot owners will likely see higher premiums, deductibles and even outright rejection by insurers which are shying away from lithium-ion battery chargers and mobility devices as their use widens across the country.
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- June 11 2024
ICNZ calls for nat cat safeguards in Fast Track Approvals Bill for infrastructure development
The bill should not give green light to projects that expose communities to excessive financial and physical natural hazards risks, the industry body said in a submission to the government.
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- June 11 2024
Howden India appoints Hanmant Dudle as head of large account practice for property and construction lines
Prior to joining the broker, Mumbai-based Dudle was vice president in charge of large account practice at insurer ICICI Lombard.
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- June 5 2024
Aldi partners with RACQ and Honey Insurance to launch insurance offering in Australia
The supermarket chain's insurance arm will offer car, homeowners and renters, including free smart home sensors, and landlord policies across the country.
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- May 31 2024
Property cat rates decline 5% at 1.6 renewals: Howden Re
Reinsurers remain vigilant as an active Atlantic hurricane season could present challenges.
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- May 30 2024
Dual recruits Ed Birrell to expand ANZ title insurance business
Most recently as Dual Asset's head of UK M&A, Birrell will relocate to Sydney from London and start his new role in June.
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- May 24 2024
Revival in property treaty appetite promises favourable outcomes for cedents mid-year
Key renewals for Australia and New Zealand are likely to follow the experience of 1.1 and 1.4, with growing demand for catastrophe risks at current pricing and terms.
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- May 21 2024
Munich Re Singapore expands property team with Chubb hire
Adi Salleh, who joins as senior underwriter, has over 13 years of experience and worked across Malaysia, Korea, and Singapore.
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- May 13 2024
New South Wales pushes insurance monitor bill to lower premiums for consumers
The state government is seeking to ensure that the goals of emergency services levy reform, including lower premium and punishing price exploitation, are met through new rules and amendment.
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- May 7 2024
APAC markets moderating, loss-exposed lines remain challenging: Aon
Cat-exposed property across Asia saw limited capacity and renewal price increases but capacity for casualty remained abundant, leading to moderate market conditions, despite concerns of increasing exposures.
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- May 6 2024
Zurich Hong Kong appoints Chen Wai Khong as head of property
Chen will relocate to the SAR from Kuala Lumpur, where he was regional property underwriter for Allianz.
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- May 6 2024
Asian insurance pricing moderates across lines but Japan, Taiwan, Philippines buck the trend: Marsh
Japan was the only Asian country that saw price increases in all lines of business, other cat-exposed markets like Taiwan, Philippines and Indonesia saw strong hikes in property classes but saw varying trends in other lines.
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- May 6 2024
Australian cyclone pool’s aggregate building exposure exceeds US$1trn
Approximately 95% of the market in terms of premium has joined the ARPC as of December 31 with a total quarterly premium of US$156m.
