Articles by Andrew Tjaardstra
Windstorm Xaver property losses were €680m, according to Perils
Perils, which provides catastrophe insurance data has released an initial loss estimate for December windstorm Xaver, which affected Western and Northern Europe, of €680m for insured property losses.
Sales of cyber-insurance climbed 30% in 2013 at AIG
AIG saw a 30% rise in sales last year compared to 2012 of the specialist insurance that protects companies from data breaches and cyber attacks.
Euler Hermes establishes Singapore single risk team
Trade credit insurer Euler Hermes has established a single risk and political risk insurance team based in Singapore aimed at larger bespoke projects.
Perth bushfires to cost at least A$13m
Insurance assessors have started reviewing claims in bushfire-affected communities in the Perth Hills following bushfires that have destroyed or damaged many homes, businesses and vehicles.
JLT buys Lambert Brothers in Hong Kong
Jardine Lloyd Thompson has expanded its footprint in Hong Kong by buying local insurance broker Lambert Brothers.
India to review foreign ownership threshold of intermediaries
The Insurance Regulatory Development Authority has formed a panel to look at increasing the foreign ownership threshold of Indian intermediaries and third party administrators from 26% to 100%.
Allianz warns on interconnectivity of risks
Business interruption, the supply chain, natural catastrophes, fire and explosions are the main global risks to businesses according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries.
One dead and 52 homes destroyed by bushfires in Western Australia
A man has died on the roof of his home and 52 homes have been destroyed in the Perth hills as Australia suffers a serious heatwave.
Japan's regulator to ban subcontractors selling insurance
The Financial Services Agency in Japan is expected to to ban insurance agencies from allowing subcontractors to sell insurance products.
Outstanding catastrophe bonds hit record
As at 31 December 31 2013, total catastrophe bond limit outstanding had reached $20.3bn the highest level in insurance-linked securities market history according to Aon Benfield Securities.
Ace acquires majority stake of bank's insurance arm in Thailand
Ace has taken a 60.9% stake in the general-insurance division of Siam Commercial Bank for $185m (4.5bn baht).
Zurich eyes bancassurance in Malaysia
Zurich has signed a memorandum of understanding with the Bank of China to explore bancassurance opportunities in Malaysia.
China's Fosun buys Portuguese insurer
Fosun International of China has acquired an 80% stake in Caixa Seguros e Saúde, the insurance arm of Portugese state bank Caixa Geral de Depositos SA for €1bn ($1.36bn), beating out Apollo Management International.
Willis acquires specialist broker Charles Monat
Willis has acquired Charles Monat, a life insurance broker to high net worth clients, to bolster its Global Wealth Solutions operation.
Zurich appoints global chief marketing officer
Zurich has promoted Monika Schulze to the position of chief marketing officer across the group.
Allianz targets 10% growth in Malaysia
Allianz Malaysia Bhd’s general insurance arm is looking to grow its customer base by 10% in 2014.
Nationale Suisse opens Singapore office
Swiss based insurer Nationale Suisse, owned by the Swiss National Insurance Co., is expanding in Asia by opening an office in Singapore.
Traffic accidents fall in Vietnam
The number of traffic accidents in Vietnam fell from 36 400 in 2012 to 29 385 last year according to the National Traffic Safety Committee.
Zurich recruits chief technology officer from AIG
Zurich has appointed Robert Dickie as chief operations and technology officer and a member of the group executive committee. He will begin in March.
Calm 2013 US hurricane season reduced nat cat claims by 50%
According to Munich Re, insured losses from natural catastrophes globally last year declined to around $31bn compared with $65bn in 2012 and the average for the last ten years of $56bn.
European windstorms caused most December damage
According to catastrophe modeling firm Impact Forecasting windstorms in Europe caused the largest amounts of insured losses globally in December.
Catlin Bermuda opens Singapore branch
Catlin Group has formed a Singapore branch of Catlin Insurance of Bermuda. Catlin Insurance Company writes specialty lines of direct insurance in Singapore and reinsurance throughout the Asia-Pacific region.
Hong Kong partner moves to law firm in Bangkok
Former Deacons Hong Kong partner Michael Turnbull has joined Tilleke & Gibbins as senior counsel in the insurance group at the firm's Bangkok office.
Metlife appoints Yong as Hong Kong CEO
Metlife has appointed Lennard Yong as Hong Kong CEO. Yong will report to Dr Nirmala Menon, senior vice president & head of designated markets and health, Asia, Metlife.