edition
• Southeast Asia led global maritime losses for vessels over 100GT in 2023, with eight losses out of a record low 26 worldwide, according to Allianz Commercial.
• The region accounted for nearly a third of global losses and has the highest decade-long tally with 184 losses out of 729.
• Foundering was the primary cause of vessel losses, with cargo ships most affected, while machinery damage or failure led non-total incidents.
• Revenue up for some Chinese insurtech firms listed on US exchanges but losses outweigh gains, dragging down share prices. These companies have underperformed, even as markets hit record highs.
• Investors remain cautious and are punishing shares, which have failed to track the performance of broader markets or US-based insurtechs.
• Cheche Group shares plummeted 92% from its IPO price. Zhibao Technology shares declined 11% after listing. Fanhua, Waterdrop and Zhibao have all dropped.
• Howden launched a new cyber insurance platform for SMEs, offering up to US$6m in coverage.
• The platform simplifies the insurance process, requiring only four key pieces of information while using open APIs to gather further information for underwriting.
• The initiative looks to help address a significant protection gap, with only 14% of SMEs having cyber insurance according to a Munich Re report.
George Sherriff (pictured left) will take over the Japan CEO role from Tsuyoshi "Travis" Noguchi (pictured right), effective from July 1.
Sedgwick creates hull and machinery division in Indonesia, appointing Fahrizal (pictured left) and Kanya Manohara (pictured right) as Executive Marine Adjusters.
Rosati to join WTW from Marsh Asia on 1 August.
Henderson brings 14 years experience to the role, with the global loss adjuster looking to grow its forensic accounting offering in the Australian market.
