GI – (Re)in Asia

GI

IAG staff raised doubts about algorithm six years prior to board hearing: Report

July 6 2023

A flaw of the algorithm led to IAG being hit with a landmark AU$40m (US$26.6m) penalty last week.

Guy Carpenter: Mid-year reinsurance renewals seeing improved timing, continued recalibration, and T&C consensus

July 6 2023

Property pricing witnessed risk-adjusted rate increases, casualty faced pressure due to prior-year losses and economic factors, while the cat bond market experienced record highs in issuance and total...

Indonesia insurtech Futuready shuts down

July 6 2023

Tech in Asia were the first to report that the online broker had ceased operations, which a note on Futuready's landing page confirms.

Global Cyber insurance market faces growth hurdles, but potential for USD$50bn premiums by 2030: Report

July 5 2023

Howden reports the growth is achievable if three key challenges are overcome.

australian-insurance-brokers-penalized-au13-5m-us9m-for-unconscionable-conduct-and-financial-services-law-violations

Australian insurance brokers penalised AU$13.5m (US$9m) for unconscionable conduct and financial services law violations

July 5 2023

Select, BlueInc and IMS sold insurances issued by St Andrew’s Life Insurance.

study-reveals-cyber-resilience-gaps-in-australian-financial-institutions-apra-urges-action

Study reveals cyber resilience gaps in Australian insurers and other financial institutions

July 5 2023

The APRA study involved over 300 banks, insurers, and superannuation trustees and identified gaps that entities can use to better protect themselves.

Ping An achieves top 1% ESG rating in China Edition of S&P Global's Sustainability Yearbook 2023

July 5 2023

Ping An was the sole insurance company to be included for its exemplary ESG practices and dedication to sustainability.

gallagher-on-1-7-renewals-australias-retention-levels-facing-ongoing-pressure-china-experiencing-decrease-in-capacity

Gallagher Re on 1.7 renewals: Australia's retention levels facing ongoing pressure, China experiencing decrease in capacity

July 5 2023

Gallagher Re provided global updates on the key 1.7 renewal season in their latest 1st View report.

Asia cyber insurance market set for growth as attacks rise

July 4 2023

Asia suffers the most cyber attacks globally but Australia remains the region’s only developed insurance market.

BMS Group to reel in sixth Australian acquisition within a year

July 4 2023

BMS Group continues its active expansion in Australia by picking up the Brisbane-based broker.

Roojai to expand Thai presence with purchase of FWD GI from bolttech

July 4 2023

The insurtech is fulfilling its vision of becoming a full-stack digital insurer.

Southeast Asia tops world for total vessel losses

July 3 2023

Report suggests ongoing improvements in safety and fewer losses in the last decade.

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