Property

IAG ups reinsurance placement for 2024

January 5 2024

"Global reinsurance markets have stabilised during 2023, allowing IAG to purchase greater reinsurance protection" says IAG CFO, William McDonnell

Aussie Christmas storm claims surge to nearly 38k as ICA extends cat declaration

Aussie Christmas storm claims surge to 38k as ICA extends cat declaration

January 3 2024

Council extends insurance catastrophe declaration to cover East Coast storms, rain, and flooding in the New Year.

Magnitude 7.5 earthquake hits Japan, triggering tsunami alerts

January 2 2024

Tremors shook western Japan, resulting in tsunami warnings and affecting buildings and infrastructure.

Gold Coast bears brunt as ICA declares 'Insurance Catastrophe' for Christmas storms

December 29 2023

QLD, NSW, and VIC claims surge past 18,000 with Gold Coast accounting for over 10,000.

Australia battered by severe Christmas Storms

December 27 2023

QLD, NSW and VIC hit by flash floods, hailstorms, and strong winds as ICA declares 'Significant Event'.

globaldata-chinas-gi-industry-on-track-for-us361bn-of-gwp-by-2028

Motor will continue to drive China's GI industry to US$361bn GWP in 2028

December 21 2023

GlobalData predicts 7.4% CAGR over five years for China's general insurance market, driven by economic recovery and regulatory reforms.

am-best-maintains-stable-outlook-for-malaysias-non-life-market-amid-ongoing-economic-recovery

Stable outlook for Malaysia’s non-life market amid increased motor and property competition

December 19 2023

AM Best maintains stable outlook with improving economic conditions and low insurance penetration balancing nat cat and hard market conditions.

SCA publishes best practice guide for strata insurance

December 14 2023

The Strata Community Association introduces three-step guide for strata insurance disclosures.

ARPC: increased capacity in Northern Australia following introduction of cyclone pool

December 13 2023

New report shows improvement in accessibility, but warns 'misalignment on views of cyclone pool coverage' and building cost inflation remain key issues for affordability.

ICNZ: 87% of Cyclone Gabrielle and Auckland Anniversary flood claims settled

December 12 2023

To date 99,798 of 115,353 and NZ$2.7bn (US$1.65bn) of NZ$3.6bn have been settled.

Inflation hits Asean insurers’ personal lines business

December 6 2023

Asean Pulse Report shows soaring inflation and parts costs are leading insurers to tighten terms and raise premiums.

hkia-announces-hk1-9bn-in-claims-following-septembers-super-typhoon-saola-and-record-downpour

HKIA announces HK$1.9bn in claims from Super Typhoon Saola and record downpour

December 4 2023

Data from Insurance Authority, sourced from 104 general insurers, shows US$243m in claims, dominated by property (86%) and motor damages (9%).

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