Australia
Australia sets up claim centre for customers affected by severe storms
The hub is located in Townsville and is open until 15 February.
Australians pay $585 on average for car insurance
Insurance prices increased by 14% as of September last year.
Suncorp completes sale of Asteron Life to Resolution Life
Suncorp received $141.8m plus the estimated excess capital.
Actuaries Institute names new 2025 President
She urged actuaries to tackle generational inequality.
PIC Insurance Brokers appoints new COO
Graeme Edwards was the executive general manager at AIA.
Australian council supports new funding round for disaster mitigation
The fund provides $125.8m (A$200m) annually.
Rate increases under review for Australia’s private health insurers
The minister did not specify the rate of increases yet.
Insurers in ANZ leverage AI amidst tightening margin
Due to inflation, extreme weather events, and evolving consumer expectations.
ANZ firms boost cybersecurity budgets despite layoffs
Cost pressures have led 25% of organisations to reduce IT and security staff.
Australia’s life insurers top global data readiness
Worldwide, data readiness was the primary obstacle to maximising AI.
Markel names new Casualty Claims manager for Australia
He was with Chubb for more than 12 years.
IAG secures reinsurance for 2025 natural disasters
The programme offers coverage for two catastrophic events up to $6.2b.
Abundant reinsurance capital eases costs for ANZ property risks: Gallagher Re
Reinsurer quotations were closely aligned with fewer outliers compared to previous years.
Suncorp retains stable outlook amidst earnings diversity concerns: S&P
It plans to return $2.5b in excess capital from the bank sale to shareholders in 2025.
Australia's private health insurers record $1.07b profit in 2024
The year gathered data from 30 private health insurers.
Nearly 9 in 10 Australian insurers commit to net-zero targets by 2050
Extreme weather events cost homeowners approximately $4b annually.
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Event News
Embrace AI or be left behind, an expert said at the Asian Banking & Finance and Insurance Asia Summit today.
Commentary
Ageing populations and rising mortality main concerns for life insurers and reinsurers