Marsh and MST Insurance Service launch joint venture in Japan: Report
MST Marsh will offer specialist knowledge in commercial business lines, focusing on corporate with annual turnover between ¥30bn and ¥200bn (US$200m – US$1.3bn).
Asia-Pacific reinsurance beginning to stablise following COVID impact: S&P
APAC reinsurers seeing rising premium rates, adequate capital buffers, and improved investment returns — but still face risks, including costlier retrocession and heightened market volatility.
AIG promotes experienced leader Cynthia Sze to GM, Hong Kong & Macau
Sze has been with AIG since 2010 and is set to commence as General Manager on 1 November.
Australia’s Medibank launches 4-Day work week trial
The insurer will test a four-day work week for 250 employees over six months, which will be observed by Macquarie University’s Health and Wellbeing Research Unit — to monitor productivity, employee satisfaction, and overall wellbeing.
AM Best affirms Labuan Re’s ‘excellent’ ratings following improvement in combined ratio
Nat Cats have resulted in combined ratio of 105.6% over the last 5 years, but product initiatives, hard reinsurance market, and strategic reduction in Lloyd’s business should see continued improvement in the medium term.
Fitch affirms ratings of China-based Yingda Taihe Property Insurance, despite potential rise in combined ratio
Fitch Ratings maintains ‘A’ rating despite potential impact of post-pandemic activity and increased nat cats.
Jude Cross confirmed as Regional Head of Property for Asia at Allianz Commercial
Cross has been with Allianz since 2016 and held the position of Interim Regional Head since June 2023.
IAG and Tokio Marine face additional claims over Greensill collapse: Report
White Oak is set to lodge new legal claims in Australia against Greensill Capital’s insurers for alleged knowledge of policy issues, as it seeks to recover funds lost due to Greensill’s collapse.
Meiji Yasuda Life’s underwriting performance to improve with overseas business fueling further growth: Fitch
Despite 13% drop in core profit and high investment risks, Fitch Ratings affirmed Meiji Yasuda Life’s credit ratings with a stable outlook.
Vesttoo creditors demand liquidation; interim CEO argues for recapitalisation
The Official Committee of Unsecured Creditors pushes for liquidation and draws parallels to infamous Ponzi scheme run by Bernie Madoff, while Vesttoo’s interim CEO defends reorganisation strategy, asserting underlying technology and talent value.
