Australian regulator applies additional AU$20m (US$12.7m) capital requirement to RAC insurance
APRA has imposed an extra capital requirement on RAC, citing deficiencies in outsourcing controls, conflict management, and board decision making.
Insurance to underpin Asian voluntary carbon credit markets
The VCC market is expected to surge by 2030 and insurance is poised to play a key role for both buyers and developers.
Mabel Ng joins Markel as Singapore Marine Underwriter
Ng who has extensive experience in marine underwriting, joins Markel from Price Forbes Broking (Asia).
Reinsurance CEOs: underwriting discipline in Asia needs to improve
Senior leaders from AXA XL, Munich Re and Swiss Re say hardening market conditions is driving more sustainable risk-taking.
Markel AU brings in Farag as Head of Casualty, Beazleigh joins as Head of PFR and Sydney
The appointments marks the launch of Markel’s new Sydney office, announced in September, as it aims to expand its presence in Australia.
Allianz Trade appoints Tricia Koh as Commercial Director for HK Hub
Koh joined Allianz Group in 2007 and Allianz Trade in Asia Pacific in 2017. She will be responsible for developing and executing market-specific strategies, fostering relationships and driving growth.
New report reveals areas of improvement for insurers in wake of Australia’s largest nat cat event
The review of insurers’ response to the 2022 floods, commissioned by ICA and conducted by Deloitte, has yielded a report with recommendations to improve disaster readiness and handling across seven key areas.
Demand for domestic M&A cover rises in Japan as cross-border activity falls
Private equity firms are the biggest users of the insurance but it’s becoming more popular with corporates.
MAS chief calls for more data harmonisation
Ravi Menon says more needs to be done to close data gaps, but Hannover Re’s CEO warns against undermining competition.
NSW Government halts development in flood-prone areas of Sydney
The NSW Minns Government has ceased further development in flood-prone areas of Sydney’s north-west, a move seen as a strong measure to help protect families and businesses from future flood events.
