Line of business: Construction Page 2 / 5
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- September 11 2024
Marsh Asia appoints Ben Usmar as vice president for construction practice
Usmar joined from Sedgwick in Hong Kong where he was an executive loss adjuster for over five years.
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- September 6 2024
APAC construction market to see rating pressure as capacity, competition ramps up: WTW
While premiums have been stable in the first half of 2024, Australia and Asia markets are seeing renewed interest from overseas insurers and new entrants.
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- August 26 2024
BHSI expands Asia team with two hires
Singapore-based Kiran Prakash's role has been expanded to head of first party lines, as Jessie Yuen has been promoted to head of energy Asia succeeding Ming Ong, who has relocated to London.
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- August 6 2024
Kieran Curtis returns to Aon as regional director, construction and infrastructure, Asia
Hong Kong-based Curtis will oversee the broker's construction and infrastructure business across Asia, reporting to Vincent Banton, regional head of construction and infrastructure.
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- August 6 2024
Crawford strengthens Australia operation with three senior hires
The loss adjuster has appointed Stephen Toomer as head of construction, power & energy, Josephine Princi as NSW forensic accounting division team leader and Werner Gibson as senior adjuster within the global technical services team.
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- July 31 2024
HDI Global restructures Australian leadership amid Middle East expansion
Karina Rodriguez Diaz and Stevan Bonic takes over from Willem van Wyk and John Morrell, who will head HDI's new office in Dubai.
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- July 30 2024
HDI’s Asean and Australasia regional manager Willem van Wyk to head new Dubai office
The new hub will initially offer engineering, construction and property insurance products with other lines such as liability and marine being written from the insurer's Singapore office.
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- July 29 2024
WTW Indonesia appoints Aon’s Kemala Putri Anandyta to head its construction and mining business
In her new role, Anandyta will work closely with the Indonesia team and regional construction and natural resources teams.
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- June 30 2024
AIG hires Stephen Hanna as head of energy and construction, Pacific
Sydney-based Hanna joins after seven years at Chubb Insurance as ANZ manager, energy and technical lines.
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- June 24 2024
ICA welcomes building ministers’ commitment to climate resilience
Decision to include building resilience as part of Australian Building Codes Board's objectives paves the way for stronger new homes that can withstand disasters and could help save US$2.7 billion building costs per year.
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- June 13 2024
KFINCO vulnerable to cyclical construction sector, economy: Fitch
The ratings agency affirmed Korea Finance for Construction Insurance's financial strength rating at 'A' (strong), with a stable outlook.
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- May 23 2024
Australia’s Bellrock builds out construction risk team with two specialist hires
Simon Gray and Carina Bogaard, who are specialists in construction professionals’ risks, join the broker's Sydney office.
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- April 22 2024
Allied World ropes in Leigh-Anne Byrom from Mecon Insurance
Byrom was most recently with Mecon for 13 years in various positions including senior technical underwriter, and senior construction & liability underwriter.
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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 5 2024
Fitch cuts Construction Guarantee’s outlook to stable on member firm’s debt woes
The rating agency has maintained its "A" rating due in part to its strong underwriting performance. Its combined ratio averaged 62% during FY 2020-2022.
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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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- January 19 2024
Australian carriers brace for surge in construction PI claims
As the number of builders going bust hit a multi-decade high, insurers are experiencing an increase in the frequency and severity of large construction-related professional liability claims, both for project-based cover and annual contracts.
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- January 16 2024
China’s ‘real estate development model 2.0′ keeps non-life insurers’ growth buoyant
Government spending on affordable housing and public facilities will cushion insurers from the sector's downturn, sustaining the country's P&C premium growth of at least 7% for 2023 and 2024.
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- January 2 2024
Philippines pilots US$14.4bn nat cat cover for ‘strategic’ government assets
The programme covers 132,862 school buildings nationwide starting January 1 and the US$36m premium for the insurance was paid using the excess payout it received from the catastrophe bond.
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- December 15 2023
KSCFC to recover profitability despite changes in regulation: Moody’s
Rating agency affirmed A3 insurance financial strength rating; maintains stable outlook.
