Fitch affirms construction guarantee insurer's ratings, noting that limited geographic and business diversification has prompted it to explore expansion opportunities.
Victorian Managed Insurance Authority said it will raise premiums due to record claims, driven by builder insolvencies, high inflation, and skilled worker shortages.
Wider AI use by businesses could add $4.4trn to annual global GDP growth and bring cyber risk directly into a number of general insurance lines says the Swiss Re Institute.
The parametric product, underwritten by Swiss Re and provided locally by ICICI Lombard, was triggered by 40°C heatwaves in May, paying out to 46,242 low-income women in India.
