Following multiple Greensill-related settlements this year, the White Oak agreement closes IAG's final outstanding case, involving claims of approximately A$170m (US$119.5m) excluding interest.
The broker bolstered its Wellington team with the appointments of industry experts Felix Ukaegbu as general manager and James Earwaker as client director for financial lines.
Belinda Steedman has been appointed to lead the rebranded business as parent company Ardonagh Group brings its global MGA businesses under the Orvia Underwriting brand.
The move follows S&P’s 23 October outlook revision on Allianz SE and its core subsidiaries, after the group’s operating performance “improved materially”.
Onshore underwriting profit rose nearly elevenfold from a low year-earlier base, led by pecuniary loss business, while offshore premiums grew 18.9% but underwriting turned negative.
The acquisition bolsters Halliwell's ability to support clients across the property-risk lifecycle, from loss assessment and remediation to project delivery and dispute resolution.
Private debt is expected to remain the preferred alternative asset class for APAC insurers over the next 12 months, even as firms take a more selective approach to private-market allocations.
The insurer is exploring full-cycle risk protection for Laos' rubber industry, while simultaneously launching China's first rescue insurance policy for Oriental storks.
