Tokio Marine Kiln (TMK) has appointed Ms Georgina Furness-Smith as cyber underwriter, effective 2 January 2025. In her new role, she will focus on further expanding TMK's presence in markets across the region, as well as maintaining and accelerating the cyber team's growth.
The slowdown in premium increases within the commercial insurance market has continued in recent months, with indications that the New Zealand market is now entering a softer market phase, says Gallagher New Zealand (formerly known as Crombie Lockwood).
The Australian and New Zealand Institute of Insurance and Finance (ANZIIF) has revealed the winners of the 12th New Zealand Insurance Industry Awards.
Chaucer Group has appointed Mr Ivan Sit as class underwriter, marine. In his new role, he will launch Chaucer's regional marine offering via the company's Lloyd's Singapore platform.
New Zealand has modernised its insurance legislation with the passing yesterday of the Contracts of Insurance Bill and the Contracts of Insurance (Repeals and Amendments) Bill, providing consumers with significant new safeguards.
Charles Taylor has appointed Mr Allwyn D'Souza as senior surveyor in Sydney, Australia; Mr Duan Mingxin as surveyor in Shanghai, China; Captain Harshvardhan Kumar as director - marine technical services in Australia; Mr Ong Eng Hong as marine surveyor in Singapore and Mr Steve Hawthorne as senior marine surveyor in Hong Kong.
Non-life premium growth is expected to remain robust over the near term and on par with prior years, when New Zealand's non-life gross written premiums recorded average annual growth in the mid- to high single digits, says AM Best.
Technology investments have led to operational efficiencies and product innovation in the life insurance segment in New Zealand, said AM Best.
An estimated 10,000 coastal properties in Auckland, Wellington, Christchurch, and Dunedin could become uninsurable by 2050 due to coastal erosion and inundation. Properties located in flood prone areas inland are similarly at risk, according to a report by the Helen Clark Foundation and engineering consultants WSP.
Suncorp, one of Australia's leading insurers, is working with technology partners on the modernisation and integration of its core policy, pricing and customer platforms as it continues its journey to becoming a digital insurer.