This week in insurance: Cbus fined $15.3m, insurers make new appointments, Tokio Marine expands agri US offerings

Manulife Asia appointed a new CFO.

The insurance industry from 24-28 November saw a plethora of new appointments, a multi-million fine, and expansions.

Australian superannuation fund Cbus was fined A$23.5m ($15.34m) in penalties related t delays in processing insurance claims, due to delays in processing death benefits and total and permanent disability insurance claims. 

Manulife has made new appointments. Ming Lau, most recently chief financial officer (CFO) for HSBC Asia Pacific and the Middle East, will become CFO for Manulife Asia beginning May 2026. Meanwhile, Bonnie Qiu will take over as global high net worth and chief partnership distribution officer for Asia.

Samsung Life Insurance has named a new company president in Lee Seung-Ho, whilst Howden named Alaric Lee as chief commercial officer for Asia.

Tokio Marine Holdings is also set to expand its specialty offerings in the US agriculture sector. 

Finally, non-life insurers are seeing offshore business written in Singapore continue to expand.