Jessica Li is a Reporter at (Re)in Asia, following the appointments, ratings and deals shaping the region's insurers. Areas of specialty include senior people moves, insurer ratings actions, and M&A across marine, financial and reinsurance lines in markets including Vietnam, Hong Kong, Korea and India.
The deal covers claims with an aggregate face value of about A$2.8bn (US$1.96bn) plus interest, leaving only White Oak's claims of about A$170m outstanding.
AM Best expects underwriting profits from the platform-sold products to improve step by step as they scale, while profitable Samsung-linked commercial business keeps results steady.
Based in Chicago from January, she will lead the broker's worldwide go-to-market strategy and sales, taking over from Anne Corona, now CEO of North America.
The move takes him back to underwriting after almost four years as a broker, bringing with him experience that spans political violence, terrorism, and casualty risks.
Overall ratings affirmation and stand-alone credit profile upgrade to 'a+' come as the RAA Insurance deal lifts insurer to third in the country's property and casualty market.
The head of the insurer's Pacific business takes charge on 1 November, joining the group executive committee as Sue Houghton prepares to retire at year-end.
The Singapore-based post goes to a graduate programme hire who has served as the insurer's multinational trade credit lead for EMEA and the UK since 2022.
