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.
The floods, which occurred between 12 to 28 October 2022, caused record rainfall and led to pluvial and riverine flooding across the Murray-Darling basin of VIC and NSW, and later in Tasmania.
Despite a 10% decrease in capital and surplus, DSI maintains very strong risk-adjusted capitalisation and plans to diversify its underwriting portfolio, while reducing offshore reinsurance.
Tobias Farny, Munich Re's Chief Executive of China, spoke to (Re)in Asia about various priorities for the German reinsurer, including green technology, electric vehicles, and cyber.
GWP forecast to hit SG$7.35bn (US$5.5bn) by 2028 thanks to increasing demand and new regulations, but growth slowdown anticipated due to economic and geopolitical challenges.
However, the P&C insurer may experience pressure on its loss ratio due to increased transportation activity following Covid-19 measures, despite diversifying its business and improving its combined...
The Auckland High Court has ordered the insurer, a subsidiary of Suncorp New Zealand, to pay the reduced fine for failing to apply multi-policy discounts to nearly 42,000 customers
