Australia
Australia’s intermediate general insurance records AU$18.5b in June
Australia’s intermediate general insurance records AU$18.5b in June
This was 11.4% higher on a year-on-year basis.
Canopius bolsters APAC team with two Australian members
The insurer aims to prioritise offerings in the Australian market.
ICA urges gov’t to reform insurance tax in future budgets, overall annual fund sufficient
New South Wales currently imposes the highest insurance taxes in Australia.
Incentivising underwriting and investment in nature’s resiliency could be beneficial – ICA
Insurers can draw concepts from the TNFD framework for better strategies.
Australia’s historic natural disasters would lead to bigger financial costs today – ICA
The council urges for better investment in resilience and mitigation measures.
Australia’s health insurance doubles in first semester – APRA
Investment income rebounded year-on-year, driving overall earnings growth.
Australia’s general insurance earnings jumps eightfold in June
It accumulated AUS$4.6b.
National Disability Insurance Scheme needs to improve – Actuaries Institute
Presently, there are 313,000 NDIS participants under the age of 18.
Gallagher Australia swoops former Marsh ESG leader
She will oversee climate change-related risks and consulting.
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.
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