Asia Pacific
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China Taiping has been identified as the building owner’s insurer. -
The London-based MGA will begin underwriting its international book next month.
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The carrier is currently focused on ~$1bn bolt-on acquisitions.
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The carrier boosted net premiums by 45% and shaved 2 points off its expense ratio.
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The improved combined ratio was driven by lower losses and expenses.
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The international segment’s net written premium contracted 5%.
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Stephenson will start his new role in early 2026.
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APAC now represents roughly 15% of all Lloyd’s premium.
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AIG has agreed to pay Everest $10mn per month for nine months for transition services.
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The company’s stock fell nearly 9% as the market digested news of an ADC, renewal rights deal and reserve charge.
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The buy-in can be seen as a “flip” bet on a rebound in appetite for carrier M&A.
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The global insurer will pick up a $650mn portfolio of US casualty business.
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AIG will fold the portfolio into its existing business, leaving the liabilities and legal entities with Everest.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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The recruits will join from Nephila, Aon and Malaysian Re.
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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.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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The firm believes UK support for policyholders is under-served compared with the US.
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Sources told this publication the hull of the aircraft is valued at $80mn.
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The man is alleged to have conspired with others to falsify LOCs and collateral letters.
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The Japanese carrier noted the impact of increasing natural disasters.
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Holmes, Froideval and Cheak will head up the units for London, Europe and Asia.
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The syndicate-in-a-box is the first Lloyd’s syndicate to operate outside London.
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The group reported “robust” growth in property reinsurance premium.
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Total reinsurer capital grew by $45bn in 2024 to $715bn.
