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 has launched operations in South Korea with the acquisition of Seoul-based insurance broker Value-add Insurance Broker (VIB).
Axa XL has appointed Dan Bryan to its reinsurance team in Asia as head of treaty underwriting for the region.
Broker Marsh has been appointed as risk management partner to help deliver the A$30bn ($22.5bn) Sun Cable renewable energy project in Australia.
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.
SiriusPoint has appointed Bobby Heerasing to its senior leadership team in the newly created role of head of international strategic business development.
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 has added political risks and contract frustration to its Belt and Road consortium at Lloyd’s.
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 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.
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 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.
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.
Catastrophe insurance data firm Perils has established a platform providing industry loss estimates for hailstorm events in Australia.
HDI Global SE has named Raymond Ong to lead its claims operations in Singapore.
Delta Insurance has appointed Adrian Sweeney as underwriting manager for its liability and specialty lines insurance business in New Zealand.
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).
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.
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 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.