Suncorp

Suncorp takes A$382mn to A$492mn nat hazard hit in first four months of FY22

2021-10-26T06:34:00+01:00

Suncorp has suffered an estimated A$382mn to A$492mn ($287mn to $369mn) of natural hazard losses since the start of its financial year on 1 July, with the company having faced 11 events that caused losses above A$5mn during the period.

BMS

BMS launches operations in South Korea with VIB acquisition

2021-10-21T06:49:00+01:00

BMS has launched operations in South Korea with the acquisition of Seoul-based insurance broker Value-add Insurance Broker (VIB).

Dan Bryan – Axa XL

Axa XL hires Aspen’s Bryan as head of treaty underwriting in Asia

2021-10-21T08:23:00+01:00

Axa XL has appointed Dan Bryan to its reinsurance team in Asia as head of treaty underwriting for the region.

Marsh Sun Cable

Marsh joins delivery team for A$30bn Sun Cable renewable project

2021-10-20T10:14:00+01:00

Broker Marsh has been appointed as risk management partner to help deliver the A$30bn ($22.5bn) Sun Cable renewable energy project in Australia.

Juan C. Andrade – Everest Re

Andrade: Everest targets international insurance expansion

2021-10-15T14:18:00+01:00

Everest Re is eyeing meaningful international insurance expansion in Europe, Latin America and Asia as well as further growth on its established North American platform to shift its portfolio towards a greater balance between primary and reinsurance business, according to president and CEO Juan Andrade.

Bobby Heerasing SiriusPoint

SiriusPoint appoints Heerasing to senior leadership team

2021-10-12T12:56:00+01:00

SiriusPoint has appointed Bobby Heerasing to its senior leadership team in the newly created role of head of international strategic business development.

Perils cyclone seroja

Perils pegs Tropical Cyclone Seroja loss figure at A$394mn

2021-10-12T06:42:00+01:00

Loss aggregator Perils has updated its estimate for insured losses stemming from Tropical Cyclone Seroja, which hit Western Australia in April, to A$394mn ($289.5mn).

Chaucer

Chaucer adds political risks to Lloyd’s Belt and Road consortium

2021-10-11T11:09:00+01:00

Chaucer has added political risks and contract frustration to its Belt and Road consortium at Lloyd’s.

IAG and Suncorp

IAG and Suncorp maintain BI provisions despite insurers’ Covid-19 victory in Australia

2021-10-11T07:10:00+01:00

Australian insurers IAG and Suncorp have warned it is too early to provide updated guidance on pandemic-related business interruption claims after the Federal Court upheld insurers’ arguments in eight of nine matters in a Covid-19 test case.

Chubb and Signa

Chubb agrees $5.75bn deal to acquire Cigna’s $3bn-premium APAC operations

2021-10-08T06:34:00+01:00

Chubb has significantly expanded its Asia Pacific operations after agreeing a $5.75bn deal to acquire Cigna’s $3bn premium-generating personal accident, supplemental health and life insurance operations in seven markets across the region.

Bridget Messer – Suncorp

Suncorp names Messer as CRO

2021-10-07T10:14:00+01:00

Suncorp has named former IG Group executive Bridget Messer as group chief risk officer (CRO) with responsibility for leading risk management and compliance at the insurer.

Aon China Re

Aon structures and places first Hong Kong cat bond for China Re subsidiary

2021-10-06T11:56:00+01:00

Aon Securities has structured and placed a $30mn typhoon cat bond sponsored by a subsidiary of China Re, in what is thought to be the first cat bond to be issued from Hong Kong.

Guangzhou port

China power shortages prompt warning of multi-billion-dollar trade impact

2021-10-01T07:01:00+01:00

China’s severe power shortages could result in billions of dollars of economic disruption if they are prolonged for a sustained period, according to analysis by Russell Group.

Perils

Perils launches hailstorm industry loss platform for Australia

2021-09-30T06:40:00+01:00

Catastrophe insurance data firm Perils has established a platform providing industry loss estimates for hailstorm events in Australia.

HDI Global Specialty

HDI Global hires WTW’s Ong to head up claims in Singapore

2021-09-29T06:49:00+01:00

HDI Global SE has named Raymond Ong to lead its claims operations in Singapore.

Delta Insurance

Delta Insurance hires Sweeney as underwriting manager

2021-09-27T07:02:00+01:00

Delta Insurance has appointed Adrian Sweeney as underwriting manager for its liability and specialty lines insurance business in New Zealand. 

Australia floods March 2021

Perils drops Australian flood loss bill to A$751mn

2021-09-24T06:43:00+01:00

Loss aggregator Perils has updated its estimate for insured losses stemming from the New South Wales and Queensland floods in March to A$751mn ($547.9mn).

ICA

Insurers launch advisory group to tackle SME policyholder failings

2021-09-21T07:03:00+01:00

Insurers in Australia have formed an advisory group to improve the affordability and availability of commercial insurance products for small and medium-sized businesses after a review found urgent improvements were needed.

GIC Re

AM Best takes GIC’s credit rating off negative outlook

2021-09-17T15:02:00+01:00

AM Best has revised its outlook on GIC Re’s “bbb+” long-term issuer credit rating to stable from negative on improved balance sheet fundamentals, with the ratings agency also affirming the financial strength rating of B++ with a stable outlook.

BMS

BMS confirms McKenzie and Van Dugteren appointments

2021-09-14T06:47:00+01:00

BMS has confirmed a pair of hires in Australia, with Andrew McKenzie appointed head of financial lines and Guy Van Dugteren named national claims and technical manager, financial lines.