New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Zurich Australia launches M&A underwriting agency

Zurich Australia launches M&A underwriting agency

Zurich Australia launches M&A underwriting agency

Zurich Australia has teamed up with Fusion Specialty Insurance to launch a mergers and acquisitions (M&A) underwriting agency partnership. Under the terms of the collaboration, Zurich will delegate its underwriting authority to Fusion M&A, which will write warranties and indemnity insurance on its behalf. The agency will focus on supporting cross-border M&A transactions across Asia-Pacific. Fusion M&A is a subsidiary…

HDI Global Specialty acquires Neon’s bloodstock team

HDI Global Specialty acquires Neon’s bloodstock team

HDI Global Specialty acquires Neon’s bloodstock team

HDI Global Specialty has acquired Neon Underwriting’s bloodstock team and said more specialty acquisitions are likely. Mark Edwards, Neon’s head of specialty and class underwriter for bloodstock and livestock, will join HDI along with Cathy Olive, deputy class underwriter, and underwriters Laura Moore and William Jordan. The Neon team boasts a global book of business, writing bloodstock business in the…

Specialty insurer StarStone appoints Agile as MGA in Australasia

Specialty insurer StarStone appoints Agile as MGA in Australasia

Specialty insurer StarStone appoints Agile as MGA in Australasia

Lloyd’s coverholder and managing general agent (MGA) Agile Underwriting has been appointed as a representative agent by specialty insurer StarStone in Australia and New Zealand. StarStone, which is owned by Bermuda-based Enstar, has decided to close its Sydney office following a strategic review, choosing instead to appoint Agile, which bills itself as an insurtech-powered MGA. The two businesses have been…

Asian SMEs overconfident about cyber risk: survey

Asian SMEs overconfident about cyber risk: survey

Asian SMEs overconfident about cyber risk: survey

The majority of small and medium-sized businesses (SMEs) in Asia-Pacific believe they are in a better position than larger companies to deal with cyber risk, despite having a larger exposure to the risk and fewer resources to manage the exposure. The potential perception gap was uncovered in a survey by insurer Chubb of 1,000 SMEs in the region’s three most-developed…

Royal Commission proposes changes for Australian insurers

Royal Commission proposes changes for Australian insurers

Royal Commission proposes changes for Australian insurers

Insurers in Australia face a number of new regulations and a supervisory shake-up following the completion of a Royal Commission into the banking sector. In total, there were 15 recommendations made in relation to insurers with the most notable being a proposed ban on commissions, a legally enforceable code of conduct and an overhaul of the claims handling process that…

Willis Re strengthens Sydney office with senior hires

Willis Re strengthens Sydney office with senior hires

Willis Re strengthens Sydney office with senior hires

Willis Towers Watson (WTW) has bolstered the leadership team of its reinsurance division in Australia with a number of new appointments. John Phillipsz has been promoted to deputy CEO of Willis Re Australia. He will be based in Sydney and has been given the responsibility of leading Willis Re’s reinsurance and brokerage division in Australia. Prior to his appointment, Mr…

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