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Specialty tag returned 85 results

  • Australia: Nat CAT costs hits performance of general insurers in Q12019

    Australia's general insurance sector recorded a 32.4% drop in underwriting results to A$2.8bn, due to claims from the Sydney hailstorm and Townsville flood as well as a strengthening of claims reserves in professional indemnity and mortgage classes.

    Asia | 23 May 2019
  • Japan: Non-life insurers maintain positive outlook in the face of Nat CAT losses

    Japanese insurers are under pressure to rebuild their reserves after deploying a sizeable portion in 2018 in what was a severe CAT year for the local market, revealed a new report by AM Best. Japan was rocked by a series of Nat CAT events last year which resulted in significant insured losses with the costliest being Typhoon Jebi.

    Asia | 22 May 2019
  • Asia Pacific: Region to see captive insurer growth

    Captive domiciles in Asia-Pacific will thrive as the region's small and medium-sized enterprises bring about increased growth to economies, stated AM Best in a recent report. As businesses seek new and more sophisticated ways of risk management and control in growing economies, AM Best expects to see significant growth of captive formations in Asia-Pacific domiciles as Singapore, Labuan and the Federated States of Micronesia continue to stand out as established captive domiciles.

    Asia | 21 May 2019
  • UAE: IGI to launch intellectual property insurance

    International General Insurance Holdings Limited (IGI) is expanding its portfolio of business with its launch of intellectual property (IP) insurance.

    Middle East | 12 May 2019
  • Malaysia: Global insurer sets up retakaful window

    The Labuan branch of Allied World has established a retakaful window which will cater to both consumer and commercial general retakaful prospects. The window spans across property, casualty, professional lines, healthcare liability, marine cargo, construction and engineering as well as group personal accident.

    Asia | 03 May 2019
  • Global: Lloyd's reveals new strategy to lower cost of doing business

    To keep up with a dynamic risk environment and rapid advancements in technology, specialist insurance and reinsurance market Lloyd's has published a new strategy dubbed 'The Future of Lloyd's'. Described as 'bold', the strategy seeks to mark the next phase of consultation and blueprint development involving Lloyd's unique ecosystem of market participants, customers and other stakeholders. Based around six initiatives, the market will start building and delivering prototypes and full services from October 2019, with some operational in early 2020.

    Asia | 03 May 2019
  • Insurance covers only 16% of $1bn in potential losses for intangible assets: Study

    A global study from Aon and the Ponemon Institute revealed that organisations lacked significant insurance coverage for their intangible assets including cyber liability as well as intellectual property such as patents, trade secrets, copyrights, proprietary information and know-how.

    Asia | 02 May 2019
  • Australia: Lloyds' (re)insurer plans Asia-Pacific expansion with new Sydney office

    As part of its ongoing efforts to expand in the Asia-Pacific region, global specialty lines (re)insurer Canopius announced plans to open an office in Sydney to underwrite business in time for the 30 June renewal season. Subject to regulatory approval, the Sydney operation will provide a local underwriting hub for business in Australia and New Zealand. It will target a combination of SME business via coverholders, wholesale direct and facultative as well as reinsurance treaty business.

    Asia | 02 May 2019
  • Qatar: QIC reports 15% increase in net profit in 1Q2019

    Qatar Insurance Company (QIC) has reported a net profit of $75m for the first quarter of 2019 compared to $65m in the same period in 2018, according to a press statement. This 15% increase is attributed to improving underwriting results and resilient investment income.

    Middle East | 01 May 2019
  • Global: Stephen Catlin and Paul Brand launch new specialty (re)insurer

    Convex, a new (re)insurance start-up founded by veteran industry experts Stephen Catlin and Paul Brand, debuted yesterday with an A.M. Best rating of A- (Excellent) as well as regulatory approval to operate in London and Bermuda. The company will underwrite insurance and reinsurance for complex specialty risks across a diversified range of business lines.

    Asia | 01 May 2019


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