S&P upgrades global reinsurance outlook to stable following combined ratio improvement
Despite economic turbulence and sector-wide risks, S&P Global Ratings has improved the sector’s outlook, from negative, attributing the upgrade to underwriting performance and strategic pricing.
Technology pivotal to growth in India’s insurance industry: IRDAI Chairman
The integration of technology including AI, Machine Learning, and parametric will reshape the insurance industry and are key to its growth, according to Debasish Panda.
Vesttoo’s Interim CEO alleges former executives played central role in $3.4bn letter of credit fraud
Four ex-executives at Vesttoo, alongside employees of China Construction Bank and Standard Chartered, have been implicated in a $3.4bn fraud scheme involving forged letters of credit, according to the firm’s first interim bankruptcy report.
Jerry Ng and Eric Kwan promoted to key leadership roles at Chubb Singapore
Ng has been promoted to Division Head of Consumer and Bancassurance and Kwan promoted to Division Head of Property & Casualty (P&C) and Head of Independent Distribution Partners (IDP).
Insurance Council of New Zealand and ANZIIF launch 2023 scholarship
This year’s scholarship takes on the theme of AI applications within the industry and provides the opportunity for future leaders to win NZ$10,000 (US$5.9k) towards professional development.
Global: Manuel Meier steps into newly created Chief Client Officer role at AXA XL
Meier has been with AXA XL since 2018 and has been promoted from the position of Chief Transformation Officer.
Josh Roach to lead Marsh Pacific operations from start of 2024
Roach will commence his new role as President of Marsh Pacific starting from January 2024, when he will take charge of operations across Australia, New Zealand, Fiji, and PNG.
Federal Court Orders AU$1.2m (U$775k) penalty against funeral insurer for misrepresentation
ASIC had initiated legal proceedings against ACBF in October 2020, for misrepresenting funeral expense insurance to Aboriginal people.
Indian health insurtech launches cyber product
Employee benefits insurtech Onsurity has introduced its first non-health product, a bespoke Cyber Insurance product aimed at safeguarding Indian SMEs from cyber risks.
Labuan and Bermuda regulators sign MOU to develop insurance sector
The Labuan Financial Services Authority and Bermuda Monetary Authority aim to strengthen regulatory supervision, data exchange, and prop up the insurance and digital asset industries.
