NZ business leaders urged to take cyber seriously and buy cover

NZ business leaders urged to take cyber seriously and buy cover

NZ business leaders urged to take cyber seriously and buy cover

New Zealand businesses appear to be failing to take adequate action to identify, manage and prevent ransomware attacks, according to latest research from insurer NZI. The insurer’s poll of some 200 New Zealand business leaders, carried out by Kantar TNS, found that they are becoming increasingly concerned about connectivity. But they are doing little to protect their businesses should they…

IMF report highlights Asia’s ageing crisis

IMF report highlights Asia’s ageing crisis

IMF report highlights Asia’s ageing crisis

Despite its status as the world leader in growth, the Asia-Pacific region must address its ageing population or else face the risk of growing old before becoming rich. This is the finding from the International Monetary Fund’s (IMF) Regional Economic Outlook for May 2017. While the outlook for the region remains robust, it also faces a near-term outlook full of…

Indonesia sues Thai exploration company for $2bn over 2009 oil spill

Indonesia sues Thai exploration company for $2bn over 2009 oil spill

Indonesia sues Thai exploration company for $2bn over 2009 oil spill

  The Indonesian government is seeking more than $2bn in compensation from a Thailand-based exploration company over an oil spill in the Timor Sea that occurred back in 2009. A civil suit was filed on 3 May in a Jakarta court against PTTEP Australasia and its parent company, the state-owned PTT Exploration and Production. The spill resulted from a blowout…

Qantas CEO pied by protestor over support for marriage equality

Qantas CEO pied by protestor over support for marriage equality

Qantas CEO pied by protestor over support for marriage equality

Corporate executives in Australia must factor in a new risk – that of flying confectionery – after the CEO of national airline Qantas was hit in the face with a lemon meringue pie by a protestor. Alan Joyce, the millionaire chief executive of Qantas, was giving a speech at a breakfast briefing in Perth when his presentation was interrupted by…

Asia: All that glitters is not gold, says Hannover Re chief

Asia: All that glitters is not gold, says Hannover Re chief

Asia: All that glitters is not gold, says Hannover Re chief

Given the fact that emerging economic regions such as Asia are showing stronger rates of growth than mature markets such as Europe and the US, it is natural to assume that leading international insurers and reinsurers such as Hannover Re will look for growth in these parts. The simple logic is that if the economic growth outlook remains poor for…

Nat cat data firm estimates Cyclone Debbie loss at $820m

Nat cat data firm estimates Cyclone Debbie loss at $820m

Nat cat data firm estimates Cyclone Debbie loss at $820m

A Zurich-based catastrophe insurance data provider, Perils, has estimated the total insured property losses from Cyclone Debbie at more than A$1.1bn ($820m). The storm caused significant wind damage across the northeast of New South Wales and the southeast of Queensland from the point it made landfall on 28 March through to early April. The peak windspeed of the storm was…

QBE plans to move European headquarters from London due to Brexit

QBE plans to move European headquarters from London due to Brexit

QBE plans to move European headquarters from London due to Brexit

QBE Insurance Group has confirmed that it will move its European headquarters from London in preparation for the UK leaving the EU, according to a report from Reuters. QBE chairman Marston Becker said the group is working on the basis that UK passporting rights as a member of the EU would not continue after Brexit, Reuters reported, citing a speech…

QBE hires new CRO for Australia and NZ division

QBE hires new CRO for Australia and NZ division

QBE hires new CRO for Australia and NZ division

QBE Australia and New Zealand has appointed Mark Baxter as new chief risk officer (CRO), replacing Anna Gould, who takes on the new position of head of claims technical and governance. Mr Baxter was previously in London as Prudential’s CRO for the UK and Europe, and an executive committee member. Before that he was with the Old Mutual Group, where…

China and Australia to cooperate on cyber crime

China and Australia to cooperate on cyber crime

China and Australia to cooperate on cyber crime

The respective governments of Australia and China have pledged to formally collaborate in the fight against transnational crime and to cooperate on legal and judicial issues regarding cyber crime and terrorism. The agreement was reportedly the result of a special request made by Australian Prime Minister Malcolm Turnbull to Chinese Premier Li Keqiang during his state visit to Australia last…

Singapore scores high in global talent poll

Singapore scores high in global talent poll

Singapore scores high in global talent poll

Singapore has been ranked as the second best place in the world for attracting, retaining and developing talent, according to the Global Talent Competitiveness Index (GTCI). The index, produced by France-based business school INSEAD, ranked Switzerland as the number one destination, with the UK, US and Sweden making up the rest of the top five. While Singapore was the highest…

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