Perils launches hailstorm industry loss platform for AustraliaCatastrophe insurance data firm Perils has established a platform providing industry loss estimates for hailstorm events in Australia.
HDI Global hires WTW’s Ong to head up claims in SingaporeHDI Global SE has named Raymond Ong to lead its claims operations in Singapore.
Delta Insurance hires Sweeney as underwriting managerDelta Insurance has appointed Adrian Sweeney as underwriting manager for its liability and specialty lines insurance business in New Zealand.
Perils drops Australian flood loss bill to A$751mnLoss 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 launch advisory group to tackle SME policyholder failingsInsurers 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 takes GIC’s credit rating off negative outlookAM 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 confirms McKenzie and Van Dugteren appointmentsBMS 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.
Aon combines Asia Pacific fac reinsurance broking teams into one unitAon has combined its Asia Pacific facultative reinsurance broking teams into one unit led by Geoff Lambrou.
Axa completes sale of Indian non-life joint ventureAxa and Bharti have completed the sale of their non-life insurance operations in India to ICICI Lombard General Insurance Company.
Second BI test case opens in Australia’s Federal CourtA second test case into Covid-19-related business interruption (BI) claims in Australia has commenced in the country’s Federal Court, which will scrutinise the policies of nine small businesses written by five insurers.
Aon increases stake in Indian broker to 100%Aon has increased its stake in Aon India Insurance Brokers Pvt Ltd from 49 percent to 100 percent, acquiring the remaining share from Catamaran Ventures.
BP Marsh builds ATC stake with MB Prestige combinationBP Marsh-backed ATC Insurance Solutions has acquired MB Prestige, an Australian specialty motor MGA in which the specialist UK insurance investor is also a shareholder.
Insurers back Australian vaccination insurance schemeAustralia’s federal government has bowed to pressure from the country’s insurers to launch a no-fault Covid-19 vaccination compensation scheme.
ICA pegs Tropical Cyclone Seroja losses at A$281mnThe Insurance Council of Australia has released an updated estimate of losses stemming from Tropical Cyclone Seroja, which hit Western Australia in April, of A$281mn ($203.9mn).
Nexus hires Chai Foo as head of treaty reinsurance in AsiaExpansive London MGA Nexus Group has appointed Tan Chai Foo as head of treaty reinsurance in Asia.
Miller hires WTW’s Ron Whyte to lead Asia Pacific expansionMiller has appointed Willis Towers Watson’s Ron Whyte as head of strategic development to lead the broker’s expansion in Asia Pacific.
Tokio Marine suffers ransomware attack as incidents continue to riseTokio Marine’s Singapore subsidiary has become the latest insurer to suffer a ransomware attack, as the number of incidents targeting the sector continues to rise.
GC lands Willis Re’s Harden as APAC president after NSW court rulingGuy Carpenter has appointed Willis Re’s Michael Harden as the new president of its Asia Pacific operations.
Axa sells Singapore unit to HSBC for $575mnAxa is to sell its operations in Singapore to HSBC for $575mn, as the Paris-headquartered (re)insurer continues moves to simplify its overseas operations in favour of a focus on its core markets.
HDI Global appoints Silton as principal officer for Malaysian businessHDI Global has named Graham Silton as principal officer for the insurer’s Malaysian business based in Labuan, succeeding Danh Duong.