GI: Commercial

new-ica-figures-underline-importance-of-emergency-services-levy-reform

New ICA data underlines importance of Emergency Services Levy reform for NSW insureds

June 3 2024

ICA data shows ESL adds between AU$305 and AU$1,200 annually for property policies, reinforcing importance of Government's ongoing reform efforts.

NZ Budget 2024 boosts disaster preparedness with new National Emergency Management Facility

June 3 2024

Budget includes several disaster aid and resilience measures, including NZ$28m (US$17.2m) for temporary housing for households impacted by Cyclone Gabrielle and the Auckland Flood.

hong-kongs-direct-general-insurance-segment-sees-underwriting-profits-rise-61-8-in-q1-2024

Hong Kong's direct GI underwriting profits up 61.8% in Q1

June 3 2024

HK's direct general insurance segment sees underwriting profits rise to HK$625m (US$80m), but property line sees doubling of gross claims paid.

China's insurance premiums grow steadily in Q1 2024, but claims surge

June 3 2024

Premium increase 5.1% YoY, to 2.2 trillion yuan (US$303.80bn), however claims spike 47.8% to 735.2bn yuan (US$101.49bn), according to NFRA data.

swiss-re-echoes-for-closer-collaboration-between-insurers-and-ev-manufacturers

Swiss Re calls for closer insurer and EV manufacturer collaboration

June 1 2024

Swiss Re echoes calls for closer collaboration between insurers and manufacturers to address emerging risks and underwriting challenges amid continuing growth of global EV market.

Chubb consolidates Korean operations under Lina brand

June 1 2024

Chubb has consolidated its Korean GI, life, and telemarketing subsidiaries Korean under the unified Lina brand.

westpac-initiates-au400m-lawsuit-against-dozens-of-insurers-over-austrac-penalty

Westpac initiates AU$400m lawsuit against dozens of insurers - report

June 1 2024

Westpac reportedly suing 43 insurers, including AXA, Allianz, and Zurich, over interpretation of insurance contracts related to AU$1.3bn 2020 AUSTRAC penalty.

Vietnam National Reinsurance Corporation assigned 'Exceptional' National Scale Rating by AM Best

June 1 2024

AM Best affirms credit ratings and assigns Vietnam National Scale Rating of 'aaa.VN', with strong operating performance of reinsurer expected to continue.

howden-re-appoints-david-hearn-as-chairman-global-clients-strategy

David Hearn comes out of retirement to take on Chairman, Global Clients Strategy role at Howden Re

May 31 2024

Hearn comes out of retirement to take on new challenge, having most recently served as EVP for Global Account Advisory at Guy Carp.

IRDAI overhauls health insurance regulations

May 31 2024

Indian regulator publishes master circular consolidating health insurance regulations, including mandating of faster claim authorisations.

Barbara Williams appointed Regional Managing Director Finance at Allianz Commercial Asia

May 31 2024

Williams, currently Director of Finance for Allianz Commercial Canada Branch, will move to Singapore for the new role.

msig-hk-to-focus-on-growth-in-group-medical-financial-and-engineering-lines-sampp

MSIG HK to focus on growth in group medical, financial, and engineering lines: S&P Global

May 30 2024

S&P affirms Hong Kong insurer's A+ financial strength rating, expecting explicit support from Mitsui Sumitomo Insurance to continue.

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