HDI Global hires new Singapore MD

HDI Global hires new Singapore MD

HDI Global hires new Singapore MD

Graham Silton has been appointed as managing director of HDI Global SE Singapore with effect from 1 October 2017, taking over from Nicholas Cheng who will retire at the end of 2017. Mr Silton joined HDI Global SE in April 2015, and relocated from Sydney to Singapore two years later to take on the role of underwriting manager for the…

Chubb hires underwriters for its APAC cyber team

Chubb hires underwriters for its APAC cyber team

Chubb hires underwriters for its APAC cyber team

International insurer Chubb has appointed two underwriters to lead the expansion of its cyber insurance business in Asia-Pacific. Andrew Taylor has been hired as cyber underwriting manager for Asia-Pacific and will be responsible for growing the cyber division from his base in Sydney. Mr Taylor joined Chubb in 2009 as part of the information and technology team, before starting cyber…

Falling premium rates and competition to hit Lloyd’s, says Moody’s

Falling premium rates and competition to hit Lloyd’s, says Moody’s

Falling premium rates and competition to hit Lloyd’s, says Moody’s

Growing competition combined with tepid economic conditions and a likely reduction in reserve releases will put pressure on premium rates, growth and profitability at Lloyd’s, according to a report by Moody’s Investors Service. The firm says growth could even be sent into reverse in 2017/2018 because of falling premium rates, which have affected many of Lloyd’s’ core business lines including…

Ironshore Singapore offers legal expenses cover for local corporates

Ironshore Singapore offers legal expenses cover for local corporates

Ironshore Singapore offers legal expenses cover for local corporates

The Singapore branch of Australian-based insurer Ironshore has introduced a new specialty, professional lines product offering after-the-event legal expenses to help cover loss exposure from commercial litigation. The product provides insurance against any adverse costs awards in a commercial case, which is a standard policy in the UK but has been adapted to suit the Singapore market to meet client…

Euler Hermes hires new execs to lead APAC expansion

Euler Hermes hires new execs to lead APAC expansion

Euler Hermes hires new execs to lead APAC expansion

Credit insurance company Euler Hermes has made two senior appointments as part of its expansion plan for the Asian insurance market. Clemens Philippi has been recruited as chief executive of Euler Hermes ASEAN with responsibility for its activities Vietnam, Thailand, Singapore, Malaysia, Indonesia and the Philippines. He will be based in Singapore. Prior to the new position, Mr Philippi was…

Singapore regulator calls for more use of parametric insurance

Singapore regulator calls for more use of parametric insurance

Singapore regulator calls for more use of parametric insurance

The managing director of Singapore’s financial regulator has called for greater use of parametric and index-based insurance to close the protection gap in natural catastrophe and disaster risk. Speaking at the Institute of Catastrophe Risk Management (ICRM) Symposium, Ravi Menon, managing director of the Monetary Authority of Singapore, said that more innovative use of these products is integral to solving…

Half of Asian businesses have no liability insurance: QBE

Half of Asian businesses have no liability insurance: QBE

Half of Asian businesses have no liability insurance: QBE

Asia’s corporate market is significantly underprotected against liability risks, according to a recent study by QBE Insurance that revealed roughly half of Asian companies have no business liability insurance at all. The report, Risk in Regret, shows that the vast majority of Asian businesses have some form of insurance, most notably property and casualty, but less than half have invested…

XL Catlin launches cyber insurance in Asia-Pacific

XL Catlin launches cyber insurance in Asia-Pacific

XL Catlin launches cyber insurance in Asia-Pacific

Bermuda-based insurer XL Catlin has unveiled a cyber and data protection insurance policy for Asia-Pacific. The policy covers business interruption and associated extortion demands arising from a network compromise, as well as both the first-party incident response costs and third-party liability. The first-party costs include notification, forensic investigation and public relations support, while the potential liability covered under the policy…

Singapore opens consultation on cybersecurity bill

Singapore opens consultation on cybersecurity bill

Singapore opens consultation on cybersecurity bill

The Cyber Security Agency of Singapore (CSA) and the Ministry of Communications and Information have released the much-anticipated Cybersecurity Bill for public consultation. The Bill, which has been almost two years in the making, is an attempt to create a single industry-wide cyber security framework for Singapore’s main businesses and to do away with the various sector-specific rules that exist…

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

Risk modelling and analytics firm RMS has expanded its portfolio of risk models with the addition of tropical cyclone and earthquake models covering Asia-Pacific. More specifically, the new models include typhoon models for South Korea and Taiwan, adding to existing ones for Japan and China, as well as earthquake models for Vietnam, Singapore, Malaysia and Thailand, which will not sit…

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