The insurance industry stabilised in 2023 following muted natural catastrophe events and the positive effects of strategic initiatives implemented by insurers over the last few years to moderate risk exposures, such as premium rate increases and underwriting limitations, according to KPMG South Africa.
Africa Specialty Risks (ASR), the pan-African and Middle East focused (re)insurance group, has announced that Africa Specialty Risks Ltd (ASR Ltd), ASR's UK-based entity is operating as a Lloyd's service company, underwriting on behalf of ASR Syndicate 2454.
Insurance authorities have granted approval for the establishment of a new insurance company headquartered in Suzhou, a vibrant city in eastern China. The new company, with a national licence, is registered as Dongwu Property & Casualty Insurance.
The National Financial Regulatory Administration (NFRA) is working to improve insurance services for technology-based businesses throughout their entire lifecycle, according to Mr Yin Jiang'Ao, director of the Property Insurance Supervision Department of the NFRA.
WTW has appointed Mr Gerald Dolina as head of Philippines and head of corporate risk and broking Philippines and Mr James Matti as managing director, health, wealth and career Philippines. Both appointments are effective 2 January 2025.
Aon has appointed Mr Paul Schultz as global vice chair of reinsurance solutions and Mr Richard Pennay as CEO of Aon Securities.
Even as the Insurance Council of Australia (ICA) renewed its calls to stop building on floodplains, housing projects on floodplains continue to be approved by the local government authorities.
A new survey has revealed that fraud remains a top concern for insurers globally and the number of fraud cases is either holding steady or increasing compared to previous years.
The Insurance Council of Australia (ICA) has released a charter outlining the principles and key actions for addressing the challenges of extreme weather events, as well as disaster preparation, response, and recovery.
HDI Global (HDI) has appointed Mr Jamie Haider as risk engineering manager, Australasia, subject to regulatory approval.