Run-off specialist Catalina has hired Malcolm Steingold to lead its expansion in the Asia Pacific region as the firm reorganises its global leadership.
Starr Insurance Companies has agreed a deal with FPG Insurance Holdings Limited and local shareholders to purchase the company’s Thai subsidiary FPG Insurance Public Company Limited (FPG Thailand).
Acrisure Re has announced the launch of its Hong Kong operation and the appointment of Duncan Ainsby as senior vice president of facultative reinsurance and head of Asia.
Loss aggregator Perils has modestly lowered its insured property market loss estimate for October’s severe storms in Southern Australia to A$1.016bn ($699.8mn).
Howden has expanded its Asian presence with the acquisition of Singapore-based Aegis Insurance Agencies Pte.
BMS has said it expects to significantly expand in New Zealand during 2022 after launching an independent operating unit in the country.
Insured losses from the recent flooding which impacted southeast Queensland and New South Wales are now estimated to total A$3.346bn ($2.34bn), according to the Insurance Council of Australia (ICA).
Italy’s Generali said on Friday it had completed the acquisition of a majority stake in its P&C insurance joint venture in India.
Expansive broking group Howden has promoted Jenny Lim to CEO of its Singapore unit.
Perils has estimated insured losses from the flooding which impacted parts of eastern Australia between 23 February and 8 March at A$3.991bn ($2.945bn).
Nexus Group’s credit insurance and surety specialist Xenia Broking Group has acquired a majority stake in Capstone Insurance Brokers, a Hong Kong-based insurance broker with expertise in financial lines and digital asset insurance.
WTW has received approval from the Insurance Regulatory and Development Authority of India to acquire the remaining stake in its Indian joint venture.
Private equity giant KKR is set to acquire a 9.99 percent stake in Shriram General Insurance (SGI), a joint venture between Indian conglomerate Shriram Capital and pan-African financial services group Sanlam.
Australia’s federal government has pledged to co-fund a A$741mn ($553mn) natural disaster resilience package for flood-prone Queensland communities, in a move welcomed by the insurance sector.
Indian reinsurer GIC Re has denied that it is exposed to the $3.5bn AerCap leasing claim through its fronting arrangement with Abu Dhabi National Insurance Company (ADNIC).
Tokio Marine Kiln (TMK) has appointed Pavlos Spyropoulos as regional managing director for Asia.
The 1 April renewals proved to be an “orderly calm” for Japanese cedants following substantial rate increases in recent years in response to major cat losses, with steady improvement in original property rates and no reduction in original earthquake rates, Gallagher Re global CEO James Kent has said.
Legislation to establish a tropical cyclone reinsurance pool in Australia has been passed ahead of planned implementation on 1 July this year.
Earthquake quota shares have come under pressure for reinsurers of the big three Japanese carriers at the 1 April renewals, with some cedants successfully pushing up ceding commission by a point or two, The Insurer understands.
TigerRisk has confirmed its entry into the Australian reinsurance and program market with the appointment of Simon Chandler as head of reinsurance broking, programs and binders, a move first reported by The Insurer earlier this month.