The floods, which occurred between 12 to 28 October 2022, caused record rainfall and led to pluvial and riverine flooding across the Murray-Darling basin of VIC and NSW, and later in Tasmania.
Formerly FPG Insurance, the P&C insurer is expanding its presence in the commercial lines segment and will benefit from the expertise of Starr Group — who became a majority owner in December 2022.
MST Marsh will offer specialist knowledge in commercial business lines, focusing on corporate with annual turnover between ¥30bn and ¥200bn (US$200m - US$1.3bn).
In his 2023 policy address, Hong Kong Chief Executive John Lee announced a series of measures that are likely to be impactful on the insurance industry, including the acceleration of a HK$8 bn (US$1.02...
APAC reinsurers seeing rising premium rates, adequate capital buffers, and improved investment returns — but still face risks, including costlier retrocession and heightened market volatility.
Nat Cats have resulted in combined ratio of 105.6% over the last 5 years, but product initiatives, hard reinsurance market, and strategic reduction in Lloyd's business should see continued improvement...
White Oak is set to lodge new legal claims in Australia against Greensill Capital's insurers for alleged knowledge of policy issues, as it seeks to recover funds lost due to Greensill's collapse.
