News

sun-life-singapore-and-prudential-financial-advisers-partner-on-hnw-life-product

Prudential Financial Advisers to distribute Sun Life Singapore HNW life product

November 15 2023

Partnership enables PFA to offer the 'SunBrilliance Indexed Universal Life' product to its affluent and high-net-worth clients.

towers-refund-costs-for-discount-errors-soar-to-nz11-2m

Tower's refund bill for discount miscalculations rises to NZ$11.2m

November 15 2023

CEO apologies after expected remediation costs for multi-policy discounts errors increases from NZ$6.2m (US$3.7m) to NZ$11.2m (US$6.7m).

Gallagher expands Australian presence with acquisition of Edgar Insurance Brokers

November 14 2023

Gallagher has acquired Victoria-based broker which specialises in servicing sectors including rural and farm, hospitality, transport, and trades.

surge-in-insurance-fraud-hits-historic-high-in-south-korea-report

South Korean insurance fraud hits historic high in H1 2023: Report

November 14 2023

Insurance fraud surges 21.8% in first half of the year, with a spike in cases involving industry professionals and organised crime.

Independent panel appointed for review of Australia's 2020 General Insurance Code of Practice

November 14 2023

The panel to be led by former APRA Deputy Chair Helen Rowell and will aim to enhance consumer protections and modernise industry standards.

tokio-marine-holdings-announces-new-disaster-prevention-and-mitigation-venture-tokio-marine-resilience

Tokio Marine announces new disaster prevention and mitigation subsidiary, Tokio Marine Resilience

November 13 2023

The wholly owned subsidiary will provide disaster prevention and mitigation solutions.

Major Australian port operator hit by serious cyber incident

November 13 2023

DP World Australia, which handles 40% of the nation's maritime trade, was hit by a disruptive cyberattack on Friday.

AM Best assigns stable outlook, predicts steady growth for New Zealand's non-life segment

November 13 2023

Despite two record nat cats in 2023, excess-of-loss reinsurance, strong capital adequacy, and inflation should provide stability and growth for NZ non-life market, though constrained reinsurance capacity...

IAG joins Australian Cyclone Reinsurance Pool

November 13 2023

Insurance Australia Group joins Cyclone Pool, while advocating for more investment in disaster risk reduction and stronger national building codes.

Singapore's Life industry sees mixed performance through first three quarters of 2023

November 13 2023

Amidst economic uncertainty, Singapore's life insurance industry sees a decline in single-premium policies but a robust uptake in annual premiums and health insurance plans, reports the Life Insurance...

BOC Aviation secures US$208m insurance settlement for grounded aircraft in Russia

November 10 2023

Following a series of similar settlements, Singapore's BOC Aviation obtains US$208 million from NSK for aircraft stranded in Russia.

War risk premiums surge following missile strike on Philippines-owned vessel in Ukraine: Report

November 10 2023

Attack on KMAX Ruler, which was due to transport iron ore to China, led to a fatality and injuries to Filipino crew, prompting a sharp increase in marine war risk premiums.

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