Canopius promotes APAC Chief Mark Newman to UK CEO role
Newman will assume his new position in Jan 2024, following a successful tenure in APAC in which he oversaw a fivefold increase in revenue for the region.
Tower’s refund bill for discount miscalculations rises to NZ$11.2m
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
Gallagher has acquired Victoria-based broker which specialises in servicing sectors including rural an farm, hospitality, transport, and trades.
South Korean insurance fraud hits historic high in H1 2023: Report
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
The panel to be led by former APRA Deputy Chair Helen Rowell and will aim to enhance consumer protections and modernise industry standards.
Singapore flaunts credentials as a mediation-arbitration hub
A tweak to standard insurance contracts late last year is changing the way insurers settle disputes
Tokio Marine announces new disaster prevention and mitigation subsidiary, Tokio Marine Resilience
The wholly owned subsidiary will provide disaster prevention and mitigation solutions.
Major Australian port operator hit by serious cyber incident
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
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 and hardening of rates could dampen earnings in years to come.
Australia: ASIC report reveals significant concerns around third-party cyber risks
A 2023 survey conducted by ASIC reveals considerable cyber security weaknesses in Australian businesses, prompting a rally call from the regulator for improved cyber practices.
