Australia
AGCS makes internal hire for marine role
Paul O’Neill has been named Allianz Global Corporate and Specialty global head of marine Europe and Asia Pacific effective 1 January 2014.
S&P downgrades RSA
Standard & Poor’s has lowered RSA’s financial strength and issuer credit ratings from A+ to A, attributable partly to losses related to issues in its Irish operations.
Increased typhoon activity in East Asia expected, says Munich Re
Overall insured losses from weather events in the last three decades in East Asia have hit $6bn as floods and typhoons increase. The situation could be about to worsen.
Over 170m low-income people using microinsurance in Asia-Pacific
According to research by the Munich Re Foundation and GIZ, which assists the German government in sustainable development, the microinsurance sector in Asia-Pacific has reached 172m lives representing a 40% annual growth rate between 2010 and 2012.
Zurich's head of corporate business hails opportunities of urbanisation
Thomas Hürlimann, CEO global corporate, Zurich sees a bright future for the insurer in the Asia-Pacific region as people flock to cities near shorelines and fault lines.
View from the Top: Foreign investment controls in Asia-Pacific
Two lawyers from DLA Piper give an insight into foreign direct investment limits in the Asia-Pacific region.
HWL Ebsworth hires large team from DLA Piper in Sydney
Australian law firm HWL Ebsworth has expanded its insurance practice in Sydney with the hire of three partners and twenty lawyers from DLA Piper.
Asia-Pacific catastrophe limit grows
Total Asia-Pacific catastrophe limit purchased in 2013 increased for the tenth year in a row, but did not keep pace with strong GDP growth in the region, according to a new report from Guy Carpenter.
Australian catastrophes have cost AUS$8.8bn since 2010
Catastrophes since the start of 2010 have caused billions of dollars of damage across Australia with insurance losses of more than AUS$8.8bn ($8.4bn).
New South Wales bushfires to cost insurers AUS$145m
The Insurance Council of Australia has estimated AUS$145m of damage from the New South Wales fires which ripped through the Blue Mountains over the last two weeks.
IAG moves quickly over bushfires
IAG has settled over half of 600 total loss claims from the devastating bushfires in New South Wales.
Loss adjuster Crawford grows New Zealand operation
Cerno New Zealand and Thomas Pasley and Associates are to become part of loss adjuster Crawford’s New Zealand operations.
Relief over New South Wales bushfires; firefighting plane crashes
The bushfires in the Blue Mountains in Australia have calmed down after a day of high temperatures and strong winds in New South Wales made it difficult for firefighters to control the fires.
First telematics product launched in Australia
QBE and NIA Underwriting Agency have teamed up with technology house SSP in Australia to launch the first telematics product in the country Insurance Box.
QBE's Burns returning to Australia
Former QBE Europe CEO Steven Burns has announced his retirement from fulltime executive work for lifestyle and personal reasons. He will take a short sabbatical and rejoin QBE in January 2014 based in Sydney on a part-time basis.
Insurance bill nearly AUS$100m from fires
The insurance bill from the devastating New South Wales fires that have rocked the Blue Mountains is almost AUDS$100m and is likely to rise higher as many fires still rage.
Bushfires sweep New South Wales
The bushfire season has started early in Australia with over 100 fires burning across New South Wales, the worst fires seen in a decade.
Climate change: HSBC study finds Australia is warming quickly
Australia, which has just experienced its hottest 12 months on record, has seen temperatures rise faster than any other G20 country in the last two years according to HSBC's latest climate report.
The Asian reinsurance story so far
The reinsurance market has great potential for growth in Asia as insurers, brokers and banks try to address a chronic deficit in insurance cover across the continent writes Andrew Tjaardstra.
Insurers could help tackle implications of global food security
The insurance industry could play a major role in ensuring global food security, as concerns over the food supply intensify in coming decades, according to Aon Benfield.
Magnitude 7.7 quake hits Pakistan
A magnitude 7.7 earthquake struck southern Pakistan on Tuesday at 4:29pm local time, according to catastrophe modeling firm AIR Worldwide.
Sartorel appointed CEO of Allianz Asia-Pacific
George Sartorel, currently CEO of Allianz in Italy, will assume new responsibility as regional CEO for the Asia Pacific region, effective 1 January 2014.
Swiss Re warns of major disaster threats to East Asia
Eight urban areas in East Asia are most at risk from natural disasters when taking data from across the world according to Swiss Re.
Asia-Pacific insurance sector sees post-2011 recovery
An 'Evolving Criteria' report by Aon Benfield shows the Asia-Pacific insurance community has recovered from a series of devastating natural disasters in 2011.