Australia’s second-largest insurer IAG said it is experiencing “modest upwards pressure on reinsurance rates” as the firm published its FY results to June 2018.
StarStone has launched a casualty consortium targeted at the Australian and New Zealand markets.
Japanese carrier Tokio Marine Holdings expects to pay out 50bn yen ($451.8mn) for losses stemming from heavy rain in the country last month.
Profits at Japanese giant Sompo’s eponymous international unit, which was built out of the 2016 acquisition of Endurance, dipped 4.5 percent in the most recent quarter after a modest spike in the segment’s combined ratio.
Qatar Re has continued to streamline its business after last year’s heavy losses with the closure of its Singapore branch office.
Economic losses from flash floods and mudslides that have devastated parts of southern Japan in the past two weeks are likely to exceed $1bn, according to an early estimate from Aon.
The boss of Japanese insurance giant Tokio Marine has said that deals in Europe and the US were growing too dear - even for his firm’s $9bn warchest.
Chinese-owned Sirius International has reverse-merged into a US listed company in a move intended to assist with its international M&A plans, which are thought to have been hampered by regulators closely scrutinising deals by privately-owned Chinese financial companies.
The administrators for defunct New Zealand carrier CBL have put on ice plans for a meeting to establish the insurer’s fate as they work to thrash out a last-ditch deal with the firm’s directors.
Australian carrier IAG has agreed to sell its majority stake in its Thai, Indonesian and Vietnamese operations in a series of transactions which should net the company around $200mn.