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Insurance Australia Group (IAG) has increased its catastrophe reinsurance protection for the calendar year commencing 1 January 2014 by $600 million – saying it has done so because of “favourable reinsurance market conditions”. 3 January 2014
Insurance
Asia Capital Reinsurance Group (Asia Capital Re) has appointed Raymond Cheung as chief risk officer, to oversee and drive the company’s Enterprise Risk Management (ERM) programme. 20 December 2013
Insurance
Canopius, the privately-owned re/insurance group which operates from Lloyd’s, has responded to rumours that it is to be bought by Japanese insurer Sompo for £600 million 16 December 2013
Insurance
Kiln, which is part of Tokio Marine, has appointed Christian Kolmberger as head of construction and engineering. 12 December 2013
Insurance
In what could represent a significant fillip for the already fast growing insurance-linked securities market, China’s government has said it plans to explore the use of such tools as part of its first nation-wide blueprint for adapting to climate change. 11 December 2013
Insurance
Willis Group has designed and placed a derivative-based risk transfer solution, backed by Endurance Global Weather, to protect Roy Hill Holdings. Roy Hill, an emerging mining, rail and port venture, is now covered for cyclones and heavy rainfall delaying the construction of what will be the largest single-site iron ore mining operation in Australia. 4 December 2013
News
Hong Kong-based reinsurer, Peak Re, has appointed Cathy Chen as chief financial officer. 28 November 2013
News
Despite total economic losses estimated between $6.5 and $14.5 billion, Typhoon Haiyan will have little or no impact on renewals or reinsurance uptake in the region. That is the opinion of Malcolm Steingold, CEO of Aon Benfield for Asia Pacific, Matt FitzGerald, managing director, reinsurance, Arthur J. Gallagher and James Vickers, chairman of Willis Re International, who echoed similar views. 27 November 2013
Insurance
Swiss Re has entered into a transaction with Zurich Insurance Company to acquire a 4.9 percent stake in New China Life Insurance Company. 21 November 2013
Insurance
Losses from Typhoon Haiyan in the Philippines could be between $500 and $700 according to Willis Re. 20 November 2013
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