Asia Pacific

Peak Re elevates Menezes to chief risk officer

Hong Kong-based reinsurer Peak Re has appointed David Menezes as chief risk officer, having served as deputy since September 2022.

Sompo hires AIG’s Zhang to lead consumer lines for APAC

Japanese insurer Sompo has named AIG’s Bill Zhang as president of consumer lines for Asia Pacific.

Steadfast enters AM Best’s top 20 global brokers ranking alongside AUB and BMS

Australian broker Steadfast Group has appeared in AM Best’s top 20 global insurance brokers ranking for the first time, alongside 2024 newcomers AUB Group and BMS Group.

Mapfre Re continues Asia push with Allegue named Tokyo representative officer

Spanish reinsurer Mapfre Re has continued its expansion into the Asia Pacific region with the appointment of Alberto Estévez Allegue as chief representative officer of its representative office in Tokyo.

SME-focused MGA Artisan launches with Liberty backing

Start-up commercial lines MGA Artisan Underwriting is set to launch in the Australian market next month after securing long-term capacity from Liberty Specialty Markets.

PCRIC risk pool more than doubles GWP as premium subsidies introduced

The Pacific Catastrophe Risk Insurance Company returned a profit in the 2023 financial year after incurring no claims.

TMK targets Asia Pacific A&H growth with Yang hire

Tokio Marine Kiln has hired Yixiang Yang as head of accident and health for the Asia Pacific region.

Mapfre Re secures regulatory approval to open Beijing branch

Spanish reinsurer Mapfre Re has received approval from the National Financial Regulatory Administration of the People’s Republic of China to open a branch in Beijing.

Suncorp places FY25 reinsurance program with A$350mn maximum event retention

Australian insurer Suncorp has renewed its FY25 reinsurance program, maintaining a maximum event retention of A$350mn ($235mn) for a first large event and A$250mn for a second large event.

Tysers parent AUB completes Pacific Indemnity swoop

Tysers owner AUB Group has completed its acquisition of a 70 percent equity stake in Australian financial lines specialist MGA Pacific Indemnity.

Aon unveils LatAm and APAC analytics leaders

Aon has bolstered its regional analytics functions with the appointments of Luis Acevedo and Peter Cheesman as heads of analytics for Latin America and Asia Pacific respectively.

Howden Re enters Japanese market with new Tada-led business

Howden Re has announced its entry into the Japanese market with the launch of Howden Re Japan, along with an investment in Keystone ILS Capital as it seeks to address the country’s disaster protection gap.

WTW names Baum Australia and NZ head

WTW has appointed Aon veteran James Baum as head of Australia and New Zealand and head of corporate risk and broking for the two countries.

Miller continues non-marine push in Japan with new head of strategy

Miller has expanded its Japanese business Lead Insurance Services with the appointment of Kazuhiko Shinkai as head of non-marine strategy for Japan.

Dunn launches Australian brokerage Domo Insurance

Former Tysers executive William Dunn has launched independent brokerage Domo Insurance serving the Australian market.

PCRIC appoints Poulter as chief risk officer

The Pacific Catastrophe Risk Insurance Company, a regional parametric risk pool, has named former disaster risk finance consultant Richard Poulter as its new chief risk officer.

Argenta closes Sydney office

Argenta Holdings has closed its Sydney office following a review of the group’s underwriting activities in Australia.

BMS bolsters Japan M&A unit with Iizuka hire

BMS Group has appointed Ryo Iizuka as a director of its private equity, M&A and tax unit in Japan.

Perils ups Australian Christmas Storm losses to A$1.56bn

Loss aggregator Perils has disclosed a third industry loss estimate of A$1.563bn ($1.04bn) for the Christmas Storms which affected the Australian states of Victoria, New South Wales and Queensland from 23 to 29 December 2023.