The average days receivable for Asia Pacific companies in 2023 was 71 days. Although a small increase from 2022, an increase in days receivable reflects a decrease in working capital availability and indicates slower collection of cash from customers, says Aon, a leading global professional services company.
Generali Global Corporate and Commercial (GC&C) has appointed Mr Joshua Lynch as head of business development, Asia and Ms Winnie Chu as head of financial lines underwriting, Asia, effective 30 September.
Markel has appointed Ms April Tam to the roles of senior underwriter, professional financial risk (PFR) and head of financial institutions, Asia. In her new role, she will strengthen Markel's financial institutions proposition in Asia.
US-headquartered BAM Mutual, the mutual bond insurer focused on reducing the cost of debt sold for essential infrastructure, is opening a Melbourne office and will begin insuring bonds and loans sold to finance projects in Australia and New Zealand.
Zurich Singapore has appointed Mr Edward Rayfield as head of casualty, APAC and Mr Robin Cooper-Driver as head of financial lines, APAC.
Driven by M&A activity, warranties and indemnities insurance for deals in Africa has grown significantly during the past decade, according to a report published by the international law firm, White & Case.
ChangAn Property & Liability Insurance has placed its 16.67% share in Beijing-based mutual insurer Hero Mutual Property Insurance on the block.
Banks and local financing institutions, under the direction of the Central Bank of Kuwait, are promoting life insurance among borrowers.
Markel has appointed Ms Alvernia Xu as head of operations - APAC; Ms Anna Tan as senior underwriter, fine art and specie; Ms Isabelle Wong as cargo underwriter; Ms Jenny Choi as senior underwriter, casualty and Ms Olga Wong as senior underwriter, professional financial risk.
Composite insurance rates in Asia declined 3% in the second quarter of 2024, following a dip of 2% in 1Q2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.