Hong Kong-headquartered Peak Re has unveiled a $75mn special purpose insurer (SPI) which it describes as Asia’s first-ever sidecar.
AIG has appointed Sachin Shah CEO of Asia Pacific, AIG General Insurance.
RKH Specialty has named Julian Franzman as head of marine cargo, hull and liabilities for Asia Pacific.
French insurer Axa has to entered into an agreement to acquire the remaining 50 percent that it didn’t already own of Axa Tianping Property & Casualty Insurance Company for Eur584mn.
German insurer Allianz has received approval from the Chinese financial regulator to launch an insurance holding company in China.
New Zealand insurer CBL Insurance – whose failure earlier this year led to the knock-on collapse of Danish insurer Alpha - was formally put into liquidation earlier today by the Auckland High Court amidst allegations of hidden insolvency and ties to an alleged international drug smuggling cartel.
As London’s market share of premiums in developing nations dwindles the London market cannot afford to ignore the increasing economic power of China or its burgeoning position as an insurance center, the boss of London-headquartered broker Ed Steve Hearn has said.
In the aftermath of the worst quarter for Asian cat reinsurers since 2011, the modelling firm RMS has warned the industry to expect “even more destructive events” from the region in the years ahead.
In contrast to other peak zones, cat reinsurers are increasingly confident of significant rate increases for the larger Japanese cat treaties that renew at 1.4.
Tokio Marine Kiln has announced plans to “reorganise” its Asian operations, closing down its Hong Kong office and placing business written out of the hub into run-off over the next six months.
An estimated $163bn of assets are underinsured in the world today, leaving an exposure gap that poses a “significant threat” to livelihoods and global prosperity, according to new research from Lloyd’s and the Centre for Economics and Business Research (CEBR).
Zurich-based catastrophe modelling firm Perils has expanded its wind cat forecasting platform to include Australia.
US insurance behemoth American International Group said it expects to report third quarter pre-tax catastrophe losses of as much as $1.5bn to $1.7bn from natural disasters including Hurricane Florence and typhoons Jebi and Trami.