Australia

February 9 2024

Days after acquiring a Malaysian broker, Pacific Prime reaffirmed its commitment to APAC growth by announcing it had opened shop in Australia through key hire of Michael Atta.

CPS 230 means increasing focus on cyber risk for Australian insurers

February 8 2024

Insurers will need to focus on fourth and fifth party outsourcing as part of the new APRA standard.

Pacific property insurance rates stall after rising for 26 quarters

February 7 2024

Marsh says that there is now increased competition among insurers offering capacity in this market segment.

ICA CEO apologises for 2022 flood response shortcomings, promises improvement

February 5 2024

At Parliamentary inquiry, Hall said some claims 'were not handled to the standard our industry strives to achieve,' but added that industry leaders were committed to improvements.

ICA calls for AU$500m annual fund for flood risk mitigation

January 31 2024

ICA's Pre-Budget submission call for AU$500m (US$329m) in flood-mitigation funding and extension of the Disaster Ready Fund, among other initiatives.

Cyber, op resilience, and insurance affordability among APRA priorities for next six months

January 31 2024

Australian regulator provides transparency on interim supervision and policy priorities before it launches its 24-25 corporate plan in August.

dimitri-plastiras-to-join-canopius-as-underwriter-as-part-of-global-credit-political-risk-hires

Dimitri Plastiras joins Canopius APAC as Underwriter as part of global Credit & Political Risk hires

January 30 2024

Dimitri Plastiras moves from KPMG; Angelos Deftereos, Boris Medimorec, and Virad Patel join the team in London.

MGA's Epsilon, Wellington Underwriting, and Aster to merge

January 30 2024

The merged business will combine for a collective AU$150m (US$99.2m) in GWP and gradually transition to operating under the Epsilon brand.

APRA increases Auto & General capital requirement by AU$50m

January 30 2024

Following review, regulator mandates risk remediation program and increases capital requirement by AU$50m (US$33m).

Cyclone Kirrily makes landfall near Townsville as Cat 3 storm

January 25 2024

Townsville bears brunt of Category 3 storm, with severe winds and heavy rains causing widespread disruptions and raising fears for farming sectors.

queensland-braces-for-tropical-cyclone-kirrily

Tropical Cyclone Kirrily set to form as Queensland braces for third nat cat in a month

January 22 2024

Queensland coast on alert, with state still reeling from Cyclone Jasper and severe festive season storms.

Canopius hires Robert Barnum as Underwriter for Professional Lines, Australia and APAC

January 18 2024

Barnum joins from Axis Capital and will relocate back to Sydney, as Canopius establishes its Professional Lines practice across APAC.

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