Asia Pacific
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The recruits will join from Nephila, Aon and Malaysian Re. -
The underwriter has worked for Markel in Singapore since 2020.
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The transaction marks the largest US market entry by a Korean non-life insurer.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The major storm is set to move on to mainland China later in the week.
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The action follows Sompo’s $3.5bn all-cash acquisition of Aspen Insurance.
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The deal is part of Gallagher’s ongoing Asia-Pacific investment strategy.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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The Japanese company announced the $3.5bn deal today, three months after the Bermudian completed its IPO.
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The all-cash deal values the Bermudian’s stock at a 36% premium.
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This publication first reported deal talks last week.
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Aspen would give Sompo more reinsurance scale, more US premium and a Lloyd’s presence.
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This publication revealed yesterday that the two were in detailed takeover talks.
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This publication revealed yesterday that Sompo is currently in negotiations with Aspen.
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Sources said that detailed discussions have taken place, with a clear path to a deal.
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Candy Wong spent 30 years at Aon Re China before a stint at Guy Carpenter.
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DB reiterated that no final decisions have been made regarding a potential deal.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.
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The company has also opened a fac office in Singapore.
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The carriers remain in takeover negotiations but have not reached a decision around valuation.
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The broker’s fac reinsurance division will encompass around 70 staff, it is understood.
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The expansive broker now employs over 450 people in Japan, after launching there in 2024.
