Australia

fitch-downgrades-suncorp-groups-ratings-following-bank-sale-changes-to-reinsurance-programme

Fitch downgrades Suncorp's ratings following bank sale, changes to reinsurance programme

November 8 2024

Prism score now weaker than criteria for 'AA' IFS rating due to changes in capital base and risk of reinsurance programme.

APRA eyes easing of GI reinsurance regulations

November 8 2024

Australian regulator invites feedback on changes, such as the potential easing of capital requirements and improved access to cat bonds.

fitch-assigns-arch-indemnity-first-time-a-ifs-rating

Fitch assigns Arch Indemnity with ‘A+’ IFS rating

November 4 2024

Ratings agency noted parent company support, market share, diversification efforts, and low delinquency rates as contributors.

APRA imposes additional capital requirement on Pacific International Insurance

November 1 2024

Additional AU$10m (US$6.58m) requirement applied after review finds inadequate oversight and control of its insurance intermediary arrangements.

mainland-chinese-turn-away-from-hong-kong-health-insurance-post-covid

AFCA data shows 5% increase in complaints for Australia's GI industry

November 1 2024

GI grievances up in 2023-24, but life insurance complaints decreased by 4% over the same period.

Michael Fletcher joins HDI Australia as Engineering Underwriting Manager for Northern Region

October 29 2024

Fletcher joins from Chubb where he was Deputy Technical Lines Manager.

australias-cyclone-reinsurance-pool-hit-99-coverage-by-sum-insured-but-count-of-risks-falls

Australia's Cyclone Reinsurance Pool hit 99% sum insured coverage, but count of risks covered falls

October 29 2024

Pool expected to achieve 100% coverage by year's end, but despite positive impact, external pressures appear to be widening Australia's protection gap.

australian-federal-court-rules-in-favour-of-auto-general-in-asic-legal-battle-over-policy-terms

Australia's Federal court rules HCF Life's policy term could mislead consumers

October 28 2024

Justice Jackman says pre-existing condition clause is misleading, but not an unfair contract term under the ASIC Act of 2021.

australia-tops-global-digital-customer-journey-charts-sia-partners-report

Australia tops non-life digital customer journey charts

October 28 2024

Sia Partners benchmark of digital motor and property journeys reveals Australia at top, Hong Kong and Singapore duking it out mid-table, while China has significant potential for improvement.