Line of business: Casualty Page 1 / 6
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- April 2 2025
Petronas faces potential US$5m hit from Malaysia pipeline explosion
National energy company’s captive, Energas, provides up to US$18m of cover, IAN understands.
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- March 28 2025
Exclusive: AIG’s Vivian Chow set to join Berkley Insurance Asia in Hong Kong
Chow was most recently regional construction professional indemnity manager at AIG.
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- February 14 2025
Commercial rates harden in Taiwan, Japan while rest of Asia declines: Marsh
Composite insurance rates in Asia continued a downward trend, declining by 3% in the fourth quarter of 2024, marginally higher than the global average.
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- February 6 2025
Berkley expands in India’s GIFT City with CUO appointment
Ashaya Kantawala joins the carrier from Tata AIG, where he was national head for casualty lines.
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- February 5 2025
Asia insurance rates decline 3% in Q4 2024, driven by cyber and finpro lines: Marsh
Cyber rates drop by 11%, while finpro falls 9%, both extending the previous quarterly declines in 2024, according to the latest Global Insurance Market Index by the broker.
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- February 5 2025
Pacific rates suffer largest drop in Q4 2024, driven by finpro, cyber and property lines: Marsh
Finpro premiums fell by 12%, while cyber and property declined by 8%, according to the Global Insurance Market Index.
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- January 27 2025
AIG taps Allianz Commercial’s Ciarán O’Shaughnessy as APAC head of casualty
O'Shaughnessy, who was most recently APAC head of liability for Allianz Commercial, is returning to AIG having left the company in 2016 for BHSI.
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- January 22 2025
APAC records nat cat insured losses at US$8bn in 2024, the lowest since 2012: Gallagher Re
Three events - China seasonal floods, Typhoon Yagi, and Japan’s Noto Peninsula Earthquake - drove 68% of economic losses, or US$88bn, in the region.
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- January 14 2025
Tibet earthquake compensation payments, pre-payments near US$5m
China's insurance industry has paid full compensation to the 126 victims of last week's deadly earthquake.
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- January 3 2025
Hong Kong-based MGA Hawkes Bay Underwriting resumes status as Lloyd’s coverholder
Resumption will enhance marine capacity to US$10 million, chief operating officer and head of marine specialty Manson Ma says.
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- November 21 2024
1.1 property renewals to be stable, casualty rates may harden: AM Best
The outlook for the segment remains positive, however, adverse reserve developments weigh on the liability market.
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- November 20 2024
Trebling of ‘nuclear’ verdicts in US challenges liability underwriters: Allianz
Apart from social inflation, the increasing complexity of pharma class actions, PFAS litigation and the growth of collective redress outside of the US are among the other trends creating difficulties for carriers, according to the report.
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- November 20 2024
AIG Singapore promotes Vanessa Yeo to head of casualty
Before assuming her new role, Yeo was casualty lead for the broker distribution channel.
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- November 15 2024
US exposures, climate change, pricing challenges weigh on APAC casualty underwriters
The casualty market faces challenges in predicting risks due to global interconnectedness and emerging threats like PFAS and cyber.
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- November 1 2024
Specialty growth, Australia, Dubai operations fire up Markel’s APAC growth
The Lloyd’s player, set to grow premiums by 40% in 2024, is seeing strong demand for the war, renewable energy, and casualty classes in the region, says Christian Stobbs.
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- October 29 2024
Capitalisation offsets Aswata’s declining motor premiums, higher claims: Fitch
Fitch Ratings Indonesia has affirmed Aswata’s rating at 'AA (idn) with a stable outlook.
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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 21 2024
Axa XL grows Australia presence with three senior hires in Perth
It has hired senior underwriters Chris McElroy from BHSI for property, Amanda Rattue from Vero for financial lines Trent Jeuring from Chubb for casualty.
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- October 10 2024
Berkley Re Australia hires Nick Lee as senior casualty facultative underwriter
Brisbane-based Lee returns to the reinsurer and to Australia after over 13 years in London across various specialty carriers.
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- October 7 2024
Typhoon Krathon’s economic losses likely reach ‘tens of million’ in Taiwan, Philippines
The local government in Taiwan's Keelung city estimated that restoration and rebuilding work related to typhoon Krathon will cause US$14.8m according to local media citing city mayor George Hsieh.
