Global insurance broking group Howden has launched a new cargo war risk facility to protect vessels from drone and missile strikes by Yemeni-based militia groups in the Red Sea.
Global Risk Solutions (GRS), Liberty Mutual's global commercial and specialty (re)insurer and international insurance operations, has been restructured to bring together two business units in Asia - LSM and Asia Retail Markets - under a single unified strategy in the region.
Guy Carpenter has appointed Mr Richard Chu as managing director, credit, bond and political risk, global specialties. In his new role, he will be responsible for new business development across the APAC region by supporting client relationships in the areas of credit, bond and political risk.
Wethaq Takaful Insurance Company Egypt has developed an integrated plan to underwrite insurance for the oil & gas industry.
Australian managing general agent (MGA) Agile Underwriting Services has received 'in-principle' approval from Lloyd's to create Agile Syndicate 2427 (AUS 2427).
War risk premiums appear to have soared from approximately 0.1% of the value of a ship to 0.7-1%, given the perils faced by commercial ships in the Red Sea, says the Insurance Association of Turkiye (TSB).
Asia Pacific's contributions to the business of Canopius Group, a leading global specialty and P&C (re)insurer, increased to 10.6% of the total Insurance Contract Written Premium (ICWP) in 2023, one percentage point higher than 2022's 9.6%, according to financial statements released by Canopius.
Marsh staff are mourning the passing of their colleague, Ronny Vellekoop.
Insurwave has appointed Mr Ken MacDonald as advisor for its marine and specialty capabilities. As part of his new role, he will advise on bringing Insurwave's solutions across the insurance industry, with an emphasis on the marine sector.
The Hong Kong government will earmark HK$100m ($12.78m) to promote the sustainable development of financial services i the territory, according to Financial Secretary, Mr Paul Chan.