Composite insurance pricing in the Pacific region increased 5% in the fourth quarter of 2022, the same as in the prior quarter, according to the 4Q2022 "Global Insurance Market Index" report released last week by leading global insurance broker Marsh.
The Australian Prudential Regulation Authority (APRA) yesterday released its policy and supervision priorities for the next 12-18 months to ensure the financial system is "protected today and prepared for tomorrow".
The Federal Government has commissioned an independent review into Australia's disaster funding arrangements, to ensure government investment in disaster funding is fit-for-purpose and effective in the face of increasingly frequent and more severe natural disasters.
Insurance companies in Australia are turning to business process outsourcing (BPO) providers to overcome major challenges, meet changing consumer expectations and remain competitive, according to a new research report published by Nasdaq-listed Information Services Group (ISG), a global technology research and advisory firm.
Financial advice has traditionally focused on objective financial well-being. However, a new study by AIA Australia has shown that a client's subjective financial well-being is the missing piece of the well-being puzzle.
Losses from the severe rainfall and floods that hit Auckland last week will be capped at NZ$50m ($32.4m), net of reinsurance cover, for the Brisbane-headquartered financial services group, Suncorp. The Group has a comprehensive reinsurance programme that provides protection for New Zealand losses.
With turnover in the workforce and changing patterns of work in a number of industries, a global retirement survey for State Street Global Advisors asked respondents whether they have changed their thinking on when, and how, they might retire.
Suncorp Group and Microsoft have announced a three-year agreement that will accelerate the financial services company's ability to build and deploy digital solutions for customers and foster collaborative hybrid working.
Australian Reinsurance Pool Corporation (ARPC) has announced that effective 1 January 2023, the Sure Insurance brand has joined the Cyclone Reinsurance Pool (cyclone pool) as an insurer customer through their product issuers Liberty Mutual Insurance Company, Australia Branch, trading as Liberty Specialty Markets, and Pacific International Insurance.
Australia's terrorism reinsurance pool, administered by Australian Reinsurance Pool Corporation (ARPC), purchased its retrocession programme for the 2023 calendar year at the same terms and conditions as the previous 2022 programme.