Industry Segments: Property Page 4 / 8
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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.
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- February 21 2024
Arch Insurance Australia expands property team with Vero hire
The carrier has hired Brendon Terry as national underwriting manager for property.
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- February 14 2024
Storms in Victoria leave half a million homes, businesses without power: reports
Strong winds and lightning caused widespread damage to the power infrastructure in Australia's second-most populous state.
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- February 6 2024
Asia’s casualty, financial & professional rates see quarterly drop in 4Q 2023: Marsh
Commercial and cyber insurance rates were flat in Asia as insurers' competition heated up, while property rates edged up 2%.
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- February 5 2024
Steadfast-backed broker Collective merges with strata specialist Body Corporate Brokers
The combined business will employ more than 120 people in Australia with a network of more than 200 strata manager-authorised representatives, and provide insurance placement and claims services for 30,000 strata schemes.
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- February 2 2024
Perils raises Auckland floods insured loss estimate to NZ$2.2bn
Nearly 70% of the property loss was from personal lines, according to the loss aggregator's final tally, which is 12% higher than its August 2023 estimate.
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- January 30 2024
Australian MGAs Wellington and Aster to merge into Epsilon Underwriting
The combined entity, set to work under the Epsilon brand, will write a combined US$100m GWP across liability and property lines.
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- January 29 2024
Allied World builds out Australia property team with senior hire from Allianz
Sydney-based Nick Wood has joined the carrier as vice president, lead underwriter Australia property division.
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- January 22 2024
BHSI taps Swiss Re for Asia general property leader
The specialty (re)insurer has appointed Singapore-based Jess Au as head of general property.
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- January 8 2024
APAC 1.1 renewals got done ‘for right rates on right terms’
With 10% additional capacity, loss-free and cat XL programs were flat or up to 5-10%, while loss-affected ones saw 25-30% hikes, say regional experts from Guy Carpenter, Peak Re and TransRe.
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- January 3 2024
APAC 1.1 renewals see ‘flat to 5%’ hikes on loss-free programs: Gallagher Re
Excess of loss pricing adjustments in Asia reverted to levels reminiscent of the period preceding the market hardening in 2023.
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- January 2 2024
Global property cat rates rise 3% in ‘stable and orderly’ 1.1 renewal: Howden
Supply largely sufficient to meet increased demand as cedents took the opportunity to purchase more cost effective tail coverage.
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- December 15 2023
Seadrif Insurance hires Ellen Yong as chief operating and financial officer
Yong, who is relocating to Singapore from Bermuda, will lead the development of internal infrastructure and systems for the Asean catastrophe risk facility.
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- December 14 2023
New India Assurance admits NHPC’s Sikkim flood claims
The state-owned power producer's projects damaged in the flood include Teesta-V Power Station (510 megawatt) and the under-construction Teesta-IV HE project (500 megawatt).
