Sedgwick rebrands Malaysia operations in latest Asia pushCarlyle Group-backed Sedgwick has renamed its Malaysia operations – Maphilindo International – under the Sedgwick brand in a move designed to bolster the loss adjuster’s position in the Asia Pacific market.
Suncorp adds A$400mn agg XoL to cat programme amid operating overhaulSuncorp has completed the renewal of its catastrophe reinsurance programme ahead of the start of its upcoming financial year with the Australian insurance giant adding a new A$400mn ($270.7mn) aggregate excess of loss (AXoL) cover.
BMS names Aon’s Lee head of AsiaExpansive broker BMS has appointed Aon’s Sandra Lee as the head of its operations in Asia.
ICA appoints Ingram to chair code committeeThe Insurance Council of Australia (ICA) has named Veronique Ingram as the independent chair of the General Insurance Code Governance Committee (CGC).
Lloyd’s promotes May to international CFOLloyd’s of London has promoted Jonathan May to the position of international chief financial officer.
GIC Re’s combined ratio hits 114% at FY19General Insurance Corporation of India (GIC Re) saw its combined ratio deteriorate 8.5 percentage points to 114.37 percent for the year ended 31 March 2020.
QBE dips as Asia-Pacific stocks mixed on second virus waveShares in QBE closed 1.5 percent lower on Wednesday as Asia-Pacific (re)insurance stocks traded mixed on persistent fears over the surge in coronavirus cases in parts of US, Brazil and Asia.
QBE pulls trade credit cover for at risk retailers: reportsAustralian insurer QBE is to stop writing trade credit insurance for two national retailers over concerns the businesses will not survive the Covid-19 pandemic.
New Zealand EQC reveals NZ$186mn premium for reinsurance programmeNew Zealand’s Earthquake Commission (EQC) has told this publication that the premium for its NZ$6.2bn ($4.0bn) reinsurance programme is NZ$185.7mn for 2020/2021 with the retention unchanged at NZ$1.75bn.
China Taiping looking to sell $400mn stake in Taiping ReChina Taiping Insurance Holdings is considering selling a 25 percent stake in its reinsurance subsidiary, with a tender process already underway.
Lancashire leads modest gains as Europe points higher despite rising coronavirus casesLondon-listed Lancashire Holdings led modest gains amongst its European peers as P&C equities inched higher on Friday as investors weighed up rising coronavirus cases in the US and China against sprawling stimulus measures from central banks.
New Zealand EQC renews NZ$6.2bn Aon-placed reinsurance programmeNew Zealand’s Earthquake Commission (EQC) has renewed its NZ$6.2bn ($4.0bn) reinsurance programme for the forthcoming year, with the cover provided by the Aon-placed programme unchanged from last year.
China Pacific Insurance makes $1.8bn LSE debutChina Pacific Insurance Company (CPIC) has raised $1.8bn for its offering of global depositary receipts on the Shanghai-London Stock Connect segment of the London Stock Exchange with Swiss Re set to snap up over 28 percent of the GDRs as cornerstone investor.
Emerging market infrastructure investment creates $50bn premium opportunity: Swiss ReEmerging market infrastructure projects will generate a circa $50bn premium opportunity for global (re)insurers, according to reinsurance giant Swiss Re.
QBE shares climb 6% as global stocks rally on US stimulus hopesShares in Australian giant QBE gained over 6 percent on Tuesday as global (re)insurance equities rallied on growing expectations the US will deploy a new round of stimulus measures to steady the world’s biggest economy.
Fosun-backed Peak Re receives Moody’s boostPeak Re, the Fosun-owned Hong Kong reinsurer, has received an A3 Moody’s financial strength rating to complement its A- AM Best rating.
Suncorp names ex-CBA executive Bennett as CIOAustralian insurer Suncorp has named former Commonwealth Bank of Australia (CBA) business and private banking group executive Adam Bennett as chief information officer (CIO).
QBE seeks consent solicitation for $400mn capital notesQBE is seeking a consent solicitation from holders of its $400mn perpetual fixed rate capital notes which would see the notes written off if the Australian insurer is deemed non-viable by its domestic regulator.
European P&C stocks slide after jump in China and US coronavirus casesShares in German insurance giant Allianz shed over 3 percent in early trading today as European (re)insurance stocks and the wider market fell on Monday after a jump in new coronavirus infections in the US and China stoked concerns over a second wave.
QBE falls over 3% as Asia-Pacific stocks follow Wall Street lowerShares in Australian carrier QBE slipped over 3 percent on Friday to lead a renewed sell-off in Asia-Pacific equities which followed Wall Street sharply lower as fears over a second wave of coronavirus infections hit investors’ hopes for a strong economic rebound.