Line of business: Casualty Page 3 / 7
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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
Opinion: Insurers in Asia need to heed shadow banking warning
Given the scale of the casualty offering which has been rolled out to financial institutions across Asia in recent years, it would be surprising if more fall-outs don’t emerge given the volatile nature of many of the risks assumed by the sector.
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- July 16 2024
Korea’s lithium fire sparks calls for global safety standards
Underwriting guidelines must consider various factors to price battery risks, including the quality of manufacture, testing and certification, and the separation and containment of units, especially in light of the Aricell factory fire.
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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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- July 9 2024
Liberty Mutual’s casualty veteran Noel MacCarthy steps down after 25 years
As one of the first employees in Asia Pacific for Liberty Mutual, MacCarthy has been influential in shaping the region's casualty business for the carrier.
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- June 27 2024
Korean battery plant fire claims likely to leave reinsurers unscathed
The primary insurers, KB Insurance and DB Insurance, are expected to retain the losses from the blaze at the Aricell unit as property and liability claims are expected to be relatively low, InsuranceAsia News understands.
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- June 18 2024
Axa XL bolsters Australia’s casualty team with Allianz hire
With over four decades of experience, Andy Covel has joined the global (re)insurer as senior casualty underwriter based in Sydney.
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- June 12 2024
Dual New Zealand expands underwriting team with IAG hires
Howden-owned MGA has appointed Leon Downey as senior underwriter for casualty and financial lines and Claire Ji as commercial underwriter, both based in Auckland.
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- June 5 2024
AIG elevates Ivan Ho to head of casualty, Hong Kong and Macau
Singapore-based Ho has been the carrier's environmental underwriting lead for Asia Pacific since June 2021.
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- June 4 2024
Chubb Hong Kong hires Starr’s Catherine Wong as head of casualty
With over 25 years of experience in commercial casualty, Wong was most recently Starr's APAC head of casualty since April 2023.
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- May 28 2024
Singapore Airlines turbulence puts new risks on the radar
Allianz-led liability program for the airline was placed by Gallagher and Sedgwick has been retained as the loss adjuster, IAN can reveal.
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- May 15 2024
Singapore’s ‘forever chemicals’ ban highlights growing momentum for claims exclusions
The city state will ban the use of certain PFAS chemicals from February 2025, those used in fire-fighting foams from 2026, according to the National Environment Agency.
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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
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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- 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 25 2024
South Korea mandates liability cover under new data, crypto regulations: Korean Re
The market, which was hit by US$555m in summer rainfall losses last year, is set to benefit from compulsory insurance norms and the local players will also see easing of overseas expansion regulations, a report by the reinsurer says.
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- April 16 2024
Markel appoints Priyanka Gautama as chief underwriting officer for India
Mumbai-based Gautama will focus on developing a new casualty portfolio for the Lloyd's carrier in India.
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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 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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- April 2 2024
Swiss Re CorSo elevates Stephanie Wong as South-East Asia head of casualty and finpro
Singapore-based Wong was earlier a senior casualty underwriter and vice-president at the insurer.
