Chinese insurer China Pacific Insurance Company (CPIC) has become the latest shareholder in industry blockchain initiative B3i.
Sydney-based reinsurance and binder broker, Wickshire Pty Ltd, has been approved as a Lloyd’s of London broker, making it the first intermediary based in Australia to achieve this status.
AIR Worldwide has estimated insured losses in China from this weekend’s Typhoon Lekima will exceed CNY6bn ($854mn).
China’s Anbang Insurance Group has reportedly put its entire $2.4bn Japanese property portfolio up for sale as the troubled government-controlled insurer seeks to off-load assets.
China’s National Meteorological Administration forecasts Typhoon Lekima to make landfall in Zhejiang province, south of Shanghai, on Saturday, before turning north toward the city.
Australian Suncorp, one of the country’s largest insurers, booked an after-tax net profit of A$175mn ($117.9mn) for the full year ending 30 June 2019, down from A$1.06bn for the FY 2018, as natural catastrophe costs and increased regulatory costs impacted the bottom line.
Wholesale and specialist broker Ed has hired David Lim as head of marine for the Asia Pacific region, as well as CEO for retail in Singapore.
Markel has appointed Mark Nunn as an energy underwriter in Singapore, succeeding Tim Foister who returns to the energy team in London after three years in Asia.
BP Marsh has become a minority shareholder in Sydney-based Agri Services Company, with a 36 percent stake equivalent to A$1.47mn ($1.03mn).
MS Amlin – a subsidiary of Japanese giant MS & AD – has decided to discontinue its operations on the Lloyd’s India platform one year early, after a “group-wide” structure and performance review.
Top five Lloyd’s insurer Canopius has named Jamie Jeffers as credit & political risk underwriter in Singapore, as it continues to expand its Asia Pacific footprint.
Markel International has named Christian Stobbs as managing director of Asia, replacing Matt Cannock who is leaving the firm after seven years.
Spanish (re)insurer Mapfre and Hong Kong-listed carrier China Re have penned an agreement to collaborate on insuring investments related to China’s Belt and Road Initiative (BRI).
China’s Anbang Insurance Group said its property and casualty arm will sell its entire stake in a health insurance unit as the troubled government-controlled insurer seeks to off-load assets.
German Arag Group has opened an MGA in Sydney, Australia to underwrite legal expense products under delegated authority from HDI Global Specialty SE.
Allianz Global Corporate Specialty (AGCS) is set to close its operations in New Zealand and cease writing longtail business in Australia from 1 September 2019, with AGCS Pacific CEO Willem Van Wyk stepping down from the top role in the region.
Aon has developed a blockchain-based platform that will provide microinsurance policies to paddy field farmers in Sri Lanka, to indemnify them against losing their crops during extreme weather conditions.
The Chinese government has formed a new insurer called Dajia Insurance Group to takeover the assets and operations of troubled, state-owned Anbang Insurance Group.