Aon WTW CCCS

Aon-WTW deal faces public consultation amid Singapore competition concerns

2021-04-09T15:23:00+01:00

The planned combination of Aon and Willis Towers Watson (WTW) will now be subject to a public consultation in Singapore as the local regulator determines whether the deal will result in a “substantial lessening” of competition.

1 April property reinsurance renewals

Willis Re: 1.4 Japan wind up 5-20% as per risk and agg covers restructure

2021-04-01T07:38:00+01:00

International property reinsurance renewals at 1 April followed a pattern set at 1.1, as adequate capacity across the board and orderly negotiations over exclusionary language contributed to headline Japanese pricing that was broadly in line with expectations for wind and flood.

NSW flood evacuations

Australian flood claims rise above A$500mn

2021-04-01T06:22:00+01:00

Estimated insured losses from flooding in New South Wales and southeast Queensland now total A$517mn ($389.6mn), according to the Insurance Council of Australia (ICA).

Michael Owen and Hussain Ahmad – Guy Carpenter

Guy Carpenter launches Asia Pacific capital advisory group

2021-03-30T06:38:00+01:00

Guy Carpenter has launched a new capital advisory group in Asia Pacific led by Michael Owen and Hussain Ahmad.

NSW floods

AM Best: Australian floods may prompt reinsurers to tighten T&Cs at renewals

2021-03-29T17:25:00+01:00

Australian carriers may face a further tightening of terms and conditions at upcoming renewals if material losses are ceded to reinsurers from the ongoing flood event in New South Wales and southeast Queensland, according to AM Best.

Australia floods March 2021

ICA increases Australia floods insured loss tally to A$438mn

2021-03-29T07:07:00+01:00

Estimated insured losses from flooding in New South Wales and southeast Queensland have risen to A$438mn ($333.8mn), according to the Insurance Council of Australia (ICA).

Chris Kershaw Peak Re

Peak Re’s Kershaw to retire; names new P&C co-heads

2021-03-26T10:19:00+00:00

Hong Kong-headquartered Peak Re has announced that managing director of global markets and co-head of P&C Chris Kershaw will retire on 2 April 2021.

Australia – court

Australia’s High Court to hear BI test case appeal

2021-03-25T08:20:00+00:00

The High Court of Australia has agreed to hear oral arguments supporting an insurance industry application to appeal the country’s first business interruption (BI) test case, which ruled against insurers.

Australia floods March 2021

ICA increases flood insured loss estimate to A$331mn

2021-03-25T07:56:00+00:00

Insurers have now received more than 22,000 claims related to flooding and severe weather impacts in New South Wales and South East Queensland, according to the Insurance Council of Australia.

NSW flood evacuations

Australian floods bill rises to A$254.2mn as claims tally grows

2021-03-24T07:43:00+00:00

More than 17,000 claims with an estimated value of A$254.2mn ($192.9mn) have now been lodged across New South Wales and South East Queensland due to ongoing flooding, according to the Insurance Council of Australia (ICA).

NSW flood evacuations

NSW flood evacuations continue as insurers begin to tally claims

2021-03-23T08:10:00+00:00

Further evacuations are expected as heavy rain continues to fall in New South Wales, with the claims tally expected to rise considerably in the coming days.

NSW floods

NSW claims tally to rise as millions face severe weather warning

2021-03-22T07:48:00+00:00

More than 5,000 claims have already been received by insurers following flooding in New South Wales, which has prompted the Insurance Council of Australia (ICA) to declare a catastrophe for the event.

Fairfax Singapore Re

Fairfax Financial seeks full ownership of Singapore Re

2021-03-22T12:14:00+00:00

Fairfax Financial’s Asian holding company, Fairfax Asia, has made a cash offer to acquire all of the issued and paid-up ordinary shares of Singapore Reinsurance Company Limited.

Australia map

Queensland MP renews call for reinsurance pool

2021-03-19T07:57:00+00:00

An Australian MP has urged the federal government to establish a national reinsurance pool to help reduce the cost of insurance premiums in north Queensland and across northern Australia.

Arch and Westpac

Arch solidifies Australian mortgage insurance position with Westpac Lenders buy

2021-03-18T01:07:00+00:00

Arch Capital Group has strengthened its position in the Australian mortgage insurance market after reaching a deal to acquire Westpac Lenders Mortgage Insurance Limited (WLMI).

CFC

CFC acquires Australian cyber security provider Insane Technologies

2021-03-17T08:05:00+00:00

London cyber-specialist MGA CFC has acquired Australian cyber security and incident response provider Insane Technologies.

Perils southeast asia

Perils launches exposure database for Indonesia, Philippines and Thailand

2021-03-15T10:12:00+00:00

Catastrophe insurance data firm Perils has established the first industry exposure database (IED) for Indonesia, the Philippines and Thailand.

IAG

IAG promotes Batch and Morgan in leadership reshuffle

2021-03-11T10:35:00+00:00

Insurance Australia Group (IAG) has appointed Julie Batch as group executive of direct insurance Australia and Neil Morgan as group chief operating officer as part of an overhaul of its leadership team.

Scott Hawkins Munich Re

Munich Re names Hawkins as managing director for Australasia

2021-03-10T07:44:00+00:00

Munich Re has appointed Scott Hawkins to succeed Ralph Ronnenberg as managing director of Australasia.

Chubb

Chubb names Kelaher country president for Australia and New Zealand

2021-03-09T08:13:00+00:00

Chubb has promoted regional P&C head Peter Kelaher to country president for Australia and New Zealand.