The regulatory landscape in the Asia-Pacific region is rapidly evolving, influencing insurers’ risk management and capital adequacy. Australia and Malaysia are two examples of markets where recent regulatory developments are likely to influence the use of reinsurance, in particular. Regulators …
Australia’s corporate regulator is taking QBE to court, alleging that the country’s biggest insurer by gross written premiums misled more than half a million customers about discounts on various products during a five-year period. The Australian Securities and Investments Commission …
Australia’s QBE Insurance Group on Friday reported a more than twofold jump in its first-half profit, boosted by higher income from premiums, but missed analysts’ view, sending its shares to over a six months low. The company’s gross written premiums …
The cost of war risk insurance through the Red Sea remained stable on Monday despite the sinking of the Rubymar cargo ship as underwriters had already factored in the casualty after it was first hit by a missile last month, …
Nine people have died in Australia after severe storms lashed the nation’s east coast on Christmas Day and Boxing Day, with the Bureau of Meteorology warning there is a risk of more flash flooding even as the weather system moves …
QBE Insurance Group announced a reinsurance transaction with legacy acquisition specialist Enstar, designed to de-risk the group’s exposure to portfolio reserves totaling US$1.9 billion. “This portfolio includes reserves primarily relating to North America and international financial lines, discontinued programs and …
Major insurers operating in New Zealand including Insurance Australia Group and Suncorp Group have cumulatively received over 9,000 claims so far following severe storms and flooding in and around the biggest city, Auckland. As of Monday morning, Suncorp’s Vero and …
Three of Australia’s “big four” banks settled separate class action lawsuits for A$126 million ($84.51 million) with Slater & Gordon, who took the banks to court two years ago over sale of credit insurance products, the companies said on Monday. …
QBE said it will begin writing business in the Netherlands, incepting from January 2023, now that it has received regulatory approval from the DNB (De Nederlandsche Bank). The company first announced its plans to launch a Dutch branch in June …
QBE announced the sale of select Irish casualty commercial insurance portfolios to the Ascot Group via a renewal rights transaction. The sale follows QBE’s decision earlier this year to conduct a phased withdrawal from underwriting certain Republic of Ireland-domiciled direct …
