There was a much smaller variance in property catastrophe quotations during the mid-year property reinsurance renewals in Australasia, compared to 2023, as reinsurers have been relatively accepting that they have reached levels of long-term price sustainability, according to Gallagher Re, one of the largest global reinsurance brokers.
Four in five Aussies (81%) think that their superannuation fund should work hard to protect them from scams and fraud, a recent Super Consumers nationally representative survey has found.
The Financial Services Council (FSC) and its superannuation funds members have released a standard that aims to protect consumers against fraud and scams.
WTW has appointed Mr James Baum as head of Australia and New Zealand, and head of corporate risk and broking (CRB) Australia and New Zealand, effective 15 July 2024.
Steadfast Group (Steadfast) has appointed Mr Kasun Jayaratne as general manager AU network, broker, risk and insurer services, a newly created role.
IAG, one of Australia's biggest insurers, has purchased reinsurance protection to mitigate natural perils volatility for the next five years, alongside securing adverse development protection for its A$2.5bn ($1.7bn) long-tail reserves.
Mid-year renewals have further consolidated the positive trends at 1 January and 1 April 2024, setting the stage for a more competitive reinsurance market in 2025, said Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions.
Argenta Holdings yesterday announced that the Sydney office of its service company, Argenta Underwriting Asia, which operates on the Lloyd's Australia platform, will close with immediate effect.
Suncorp Group has said that it welcomes the Federal Treasurer's approval of the proposed purchase of Suncorp Bank by ANZ Banking Group under the Financial Sector (Shareholdings) Act (FSSA).
Around 2.6m Australians currently without health insurance coverage are interested in obtaining it, according to financial services research firm Investment Trends.