Australia
Australia assures FIs with new corporate plan amidst surfacing risks
This is to assure the stability of insurers, banks, and superannuation sectors.
Australia assures FIs with new corporate plan amidst surfacing risks
This is to assure the stability of insurers, banks, and superannuation sectors.
Swiss Re ties up with Wysa for first AI-based mental health support app in Australia
The insurers are working to build similar products to cater to other regions.
IAG reports year end results, insurance profit surges 37%
Operating costs stayed within its target for the third consecutive year.
Australian insurers’ ‘cyclical’ profits often affected by uncontrollable entities – ICA
Rise in inflation and reinsurance costs are driving up expenses for insurers into 2023.
Marsh buys Honan Insurance
The acquisition also covers the 80% majority stake of TA Associates.
Australian regulator nudges insurers to improve claims handling
After concluding a review, five key shortcomings were identified.
Australia’s home insurance premiums surge 28% in Q1 – Report
This strain affects 1.24 million Australian households.
Gallagher Re purchases Australian-based insurance brokerage firm
The acquired entity will merge with Gallagher Re’s Darwin office.
Australia’s calamities widen the gap in availing home insurance: Report
Since January 2020, insurers have dealt with approximately 788,000 claims due to natural disasters.
Australia updates regulations for better transparency of remuneration practices
APRA will offer flexibility in disclosure timing, requiring annual disclosures within six months of an entity's financial year-end.
Insurers, groups ally for planning reform – ICA
A roundtable discussion called on state and territory governments to reconsider planning rules.
Insurance House welcomes Melbourne Insurance Brokers
Melbourne Insurance Brokers will continue to operate as usual under Insurance House’s name.
Lack of marine-specific policies threat to communities – MIA
The Cyclone Reinsurance Pool is now at risk due to the current government's decision not to proceed with the inclusion.
Australian group insurance can cut costs by 50%: study
As super fund members aged, their annual premiums for group insurance decreased.
Australia unveils new standards for banks, insurers’ operational risk management
The new standard will take effect on 1 July 2025.
Major floods drive Australia's iinsured losses to $7.17b in 2022
The council will review insurers’ flood response during the period.
QBE selects Peter Wilson as non-executive director
The appointment is subject to regulatory approvals and is expected to be effective from 1 September.
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Outdated systems cause data breaches, dragging the Philippine insurance market’s growth potential
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Insurance
Insurance experts warn of poor systems leading to the disruption of digital adoption, whilst partnership opportunities could boost growth.
Insurance experts warn of poor systems leading to the disruption of digital adoption, whilst partnership opportunities could boost growth.
