Insurers need to "think bigger" to develop a system-wide understanding of the challenges and cooperate on solutions, not just within the insurance industry but also by engaging the wider ecosystem, APRA executive board member Suzanne Smith has said.
Arch Insurance has appointed Mr Michael Faulkner as distribution and engagement lead. In this newly created role, he will be responsible for managing and developing strategic relationships with brokers in Australia and the Pacific region, creating business development opportunities for all product lines and driving distribution growth.
One of the world's leading reinsurers, Hannover Re, posted gross reinsurance revenue in the Australasia region in 2023 of EUR4.57bn ($4.92bn), 6.4% lower than in 2023, according to the reinsurer's 2023 Annual Report.
Arthur J Gallagher & Co has announced the acquisition of Melbourne-based Health Insurance Consultants Australia (HICA). The terms of the transaction were not disclosed.
The Council of Australian Life Insurers (CALI) has marked a major milestone in its inaugural Partner Programme with global provider of advanced digital solutions to the financial industry, Equisoft, the first to sign up as a corporate partner.
The Council of Australian Life Insurers (CALI) has achieved a significant development in its Partner Program by securing Equisoft, a provider of digital solutions for the financial sector, as its inaugural corporate partner.
Insurance rates in the Pacific region declined by 2% in the first quarter of 2024, according to the "Global Insurance Market Index" published by Marsh.
Changing the risk profile of communities exposed to extreme weather in Victoria requires action to make homes, businesses, and communities more resilient to extreme weather, by shifting what is build and where it is built, according to the Insurance Council of Australia (ICA).
Bupa Health Insurance has introduced its latest marketing initiative, "Good health is contagious." The campaign was launched in response to findings from the Bupa Pulse Check survey, which showed a significant trend among Australians towards prioritising health and wellbeing.
Wotton + Kearney has appointed Mr James Cooper as special counsel of its newly launched aviation practice. In his new role, he will expand the Wotton + Kearney's existing marine and transport practice, which spans shipping, road, rail, logistics, mining and trading commodities. He joins from Clyde & Co.