Markel Insurance, the insurance operations within Markel Group, has launched its fine art and specie offering in Australia, with the appointment of Mr Matthew Stock as Head of Fine Art and Specie - Australia.
The Australian state of Victoria has recorded a surge in motor vehicle theft claims, countering the national trend as every other major state has seen declines. The Insurance Council of Australia, citing data from the Insurance Statistics Australia, said Victoria's theft claims rose 25 percent between 2024 and 2025, while incurred costs jumped 37% to A$243m ($173.2m) across more than 12,500 claims. The state's total losses exceeded the combined value of theft claims in Queensland, New South Wales, South Australia, and Western Australia.
Australia's superannuation system continued to expand in the March 2026 reporting period, with total assets rising to A$4.44tn ($2.93tn), according to the latest figures released by the Australian Prudential Regulation Authority (APRA). The figures represent a 7.9% year-on-year increase.
Property insurer FM has launched the FM Worldwide Hail Hazard Map, a new global resource designed to help organisations better understand, quantify and reduce exposure to the growing threat of hail damage.
Gallagher Re has appointed Mr Carlos Grijalva as Executive Director, Head of Cyber for APAC.
Zurich Insurance has announced the promotions of Mr Giles Crowley and Mr Kin Lee to its APAC commercial insurance business. Mr Crowley has been promoted to Head of Customer and Distribution Management (CDM), APAC, and Mr Lee to Head of Energy, APAC.
The Insurance Council of Australia (ICA) has called for targeted structural reform of the Compensation Scheme of Last Resort (CSLR), warning that funding fixes alone will not deliver the sustainable scheme that consumers and industry need.
Munich Re has announced the retirement of Mr Daniel Cossette, who has decided to conclude his tenure after 19 years. He is succeeded by Mr Gavin Maistry as Chief Executive for Life and Health APAC and MEA.
The Insurance Regulator of Cambodia (IRC) and the Australian and New Zealand Institute of Insurance and Finance (ANZIIF) have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation and building professional capacity within Cambodia's insurance sector.
The Australian financial system, including Australian Prudential Regulation Authority (APRA) regulated banks, insurers and superannuation funds, remains resilient in an increasingly volatile and interconnected world, according to the latest edition of APRA's System Risk Outlook report.