Arthur J. Gallagher & Co. announced the acquisition of New Zealand-based RMA General Ltd. (RMA) and its associated insurance broking businesses. Terms of the transaction were not disclosed. RMA provides commercial and personal insurance products as well as tailored life …
New Zealand plans to introduce legislation before the end of the year that will create a framework to help communities and businesses adapt to the impacts of climate change. The law will establish guiding principles and responsibilities for adaptation action, …
New Zealanders who own properties in areas prone to flooding or earthquakes may find they can’t afford insurance or may not be offered cover for specific risks, according to the Reserve Bank. Rising premiums or the inability to insure are …
Marsh has agreed to acquire Honan Insurance Group Pty Ltd. as the US insurance broker giant seeks to expand its presence in Australia and New Zealand. The Marsh & McLennan Cos Inc. unit has signed a deal to buy out …
New Zealand’s government will help to buy out the owners of cyclone and flood-damaged houses in areas deemed susceptible to severe weather events, beginning a process of managed retreat in the face of climate change. Together with local councils, the …
The New Zealand government said on Sunday it was allocating NZ$1.1 billion ($720 million) to help communities recover from a cyclone and floods that lashed the country this year. The funds from the 2023 budget are to cover “basics” of …
Insured losses for New Zealand’s North Island floods of Jan. 27 to Feb. 2 are estimated at NZ$1.75 billion ($1.1 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This second PERILS’ loss estimate has …
After last week’s damaging cyclone, New Zealand needs to rebuild with more resilient infrastructure to cope with more frequent and intense weather events, the prime minister said Tuesday. Prime Minister Chris Hipkins has described Cyclone Gabrielle, which caused widespread damage …
Lockton, the world’s largest privately owned insurance brokerage, announced the launch of an Affinity Schemes business in Australia, New Zealand and Pacific. The business will be led by Tanya Dasgupta who recently joined Lockton as National Manager – Affinity Schemes …
New Zealand faces big questions about where people should live and how to build infrastructure as the devastating aftermath of Cyclone Gabrielle highlights the impact of climate change, Finance Minister Grant Robertson said. The cyclone swept across the Upper North …
