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 the Pacific region, comprising mainly the Australian market, declined by 5% in the second quarter of 2024, after falling by 2% in 1Q2024, according to the "Global Insurance Market Index" published by the world's biggest insurance broking group Marsh.
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.
Arch Insurance (Arch) has appointed Mr Alex Mackinnon as Northern Region executive assurance underwriting manager. In his new role, lead the continued growth of Arch's executive assurance portfolio across the Northern Region, which includes New South Wales, Queensland and the Australian Capital Territory.
While the global non-payment insurance (NPI) market is estimated to be worth more than $160bn, APAC-domiciled banks account for less than 15% of this total, says WTW, a leading global advisory, broking, and solutions company.