Japanese flood

Japanese flooding causes $653mn of insured damage

2020-09-17T16:51:00+01:00

Flooding in Japan in July has led to insurance payouts of 68.4bn yen ($653.2mn), according to a provisional tally by the General Insurance Association of Japan.

Brendan McDonald – Generali

Generali GC&C names McDonald head of underwriting in Asia

2020-09-17T13:36:00+01:00

Generali Global Corporate & Commercial (GC&C) has named Brendan McDonald as head of underwriting for Asia.

Beazley Singapore

Beazley boosts APAC specialty lines and M&A teams

2020-09-17T10:27:00+01:00

Beazley has bolstered its Asia Pacific specialty lines and mergers & acquisitions (M&A) teams with four underwriters from Asia Capital Re, Swiss Re and Zurich to support ongoing growth in the region.

Munich Re and Acko

Munich Re leads financing round for Indian insurtech Acko

2020-09-17T09:09:00+01:00

Indian insurtech start-up Acko has raised $60mn in its Series D financing round led by Munich Re Ventures, the investment arm of reinsurer Munich Re.

QBE and FCA

QBE pegs additional BI claims at $70mn following FCA verdict; mulls appeal

2020-09-16T07:08:00+01:00

QBE has estimated it will face a net impact of around $70mn related to the High Court judgment in the UK Financial Conduct Authority’s (FCA) test case on Covid-19 business interruption claims following Tuesday’s verdict.

James Nash Tokyo

AIG swoops on GC for Nash to fill Japan CEO role

2020-09-15T07:57:00+01:00

AIG has appointed James Nash president and CEO of Japan, bringing to an end Nash’s 35 year stint with reinsurance broker Guy Carpenter.

singapore skyline

New Dawn Risk targets Asia with SpecialistRe partnership

2020-09-14T10:40:00+01:00

Broker New Dawn Risk Group has partnered with Singapore-based SpecialistRe to strengthen its reach and offering across China, Japan and South-East Asia.

Amanda Blanc – Aviva

Aviva to sell Singapore business for £1.6bn

2020-09-11T16:20:00+01:00

Aviva is to sell its majority shareholding in its Singapore business to a consortium led by Singapore Life for S$2.7bn ($1.98bn), as the company reduces focus on Asia and overhauls its overseas units under new CEO Amanda Blanc.

Swiss Re

Supply chain restructuring to fuel $63bn in premiums: Swiss Re

2020-09-11T10:43:00+01:00

The restructuring of global supply chains caused by the coronavirus pandemic could generate around $63bn in additional global insurance premiums over the next five years, according to Swiss Re.

Pat Regan – QBE

QBE’s Regan loses A$10mn in unvested shares after exit

2020-09-11T07:06:00+01:00

Former QBE group chief executive Pat Regan will lose approximately A$10mn ($7.29mn) in unvested shares after a complaint by a female employee prompted his sudden departure from the Australian carrier.

Pat Regan – QBE

Regan formally departs QBE with AUD310,000 payment

2020-09-10T20:23:00+01:00

QBE’s former group CEO Pat Regan has left the company with AUD310,000 ($225,000) in lieu of his reduced notice period, the company has revealed.

II-chubb

Chubb names Brazil COO Sosa new Far East regional president

2020-09-10T00:26:00+01:00

Chubb has turned to the Brazil-based Diego Sosa as the replacement for Brad Bennett as regional president, Far East.

II-PeterSchraa

Swiss Re CorSo’s APAC marine cargo head departs

2020-09-09T19:52:00+01:00

Swiss Re Corporate Solutions’ head of marine cargo for the Asia Pacific region Peter Schraa has left the company, The Insurer has learned.

Maysak

Typhoon Haishen makes landfall in South Korea

2020-09-07T06:50:00+01:00

Typhoon Haishen has become the second storm to make landfall in South Korea in successive weeks.

Siew Wai Wan (top), senior director and Jessica Pratiwi, senior analyst at Fitch Ratings

Challenges bring opportunity for (re)insurance in Asia

2020-09-07T20:18:00+01:00

The silver lining to any challenge is the opportunity it brings, and, in Asia, reinsurers may be on the cusp of unlocking significant potential, says Fitch’s Jessica Pratiwi and Siew Wai Wan.

Hurricane Jebi

Reassessing typhoon risk in Japan

2020-09-07T20:01:00+01:00

Recent typhoon activity in June has been a wake-up call for the (re)insurance industry. RMS’ Margaret Joseph discusses some key learnings from the 2018-19 events.

West of England club

Sri Lanka oil tanker fire threatens latest large P&I market loss

2020-09-04T13:56:00+01:00

The marine market is bracing for another potential sizeable loss as it closely monitors the situation off the coast of Sri Lanka where a very large crude carrier (VLCC) carrying two million barrels of oil has caught fire.

Typhoon Haishen

Typhoon Haishen heads for South Korea; Maysak damage impacts widespread

2020-09-04T06:54:00+01:00

Preliminary damage reports indicate widespread impacts from Typhoon Maysak following its landfall in South Korea earlier this week.

Typhoon Maysak

Typhoon Maysak makes landfall in South Korea

2020-09-03T06:27:00+01:00

Typhoon Maysak became one of the strongest storms on record to make landfall in South Korea in the early hours of this morning.

Swiss Re

Emerging markets must ensure higher insurance penetration to ease future volatility

2020-09-03T11:52:00+01:00

Emerging markets have benefited from advanced economic stimulus measures which have eased the impact of the Covid-19 pandemic on financial conditions, but will need to focus on higher insurance penetration to lower volatility in future, according to Swiss Re.