Argo Global bolsters APAC underwriting team

Argo Global bolsters APAC underwriting team

Argo Global bolsters APAC underwriting team

Lloyds insurer ArgoGlobal has expanded its Asia-Pacific team by appointing Zachary Tan as accident and health (A&H) underwriter. Mr Tan will be based in Singapore and will report to Michael Scala, chief underwriting officer, Asia-Pacific. Mr Scala said the appointment is a demonstration of ArgoGlobal’s ambition to grow its Asia-Pacific business. “With a strong team in place both at Lloyd’s…

HK investor sues robo-adviser in potential landmark case about AI liability

HK investor sues robo-adviser in potential landmark case about AI liability

HK investor sues robo-adviser in potential landmark case about AI liability

A proposed legal case in Hong Kong could give a significant insight into one of the most debated issues around liability – namely, who do you blame when a robot goes wrong? Hong Kong investor Samathur Li Kin-kan is suing Italian fund manager Raffaele Costa over losses incurred through the latter’s robo-advisory service, where investment decisions are made entirely through…

Munich Re appoints new head for southeast Asia

Munich Re appoints new head for southeast Asia

Munich Re appoints new head for southeast Asia

Former Canopius executive Linus Phoon has been appointed as the new head for Singapore and southeast Asia by Munich Re. Mr Phoon will be based in Singapore, reporting to Roland Eckls, Munich Re’s chief executive for Asia-Pacific. In his new role, Mr Phoon will be responsible for leading the firm’s reinsurance business in the region, including both insurance coverage and…

Record insurtech investment levels belie lack of obvious value: WTW

Record insurtech investment levels belie lack of obvious value: WTW

Record insurtech investment levels belie lack of obvious value: WTW

Investment in the insurtech sector reached record highs in Q1 2019 yet there is a lack of obvious value in the many of the newest insurtech offerings, according to a recent report. The latest Quarterly Insurtech Briefing from insurance broker Willis Towers Watson (WTW) shows that the highest number of transactions yet (85 with a total value of $1.42bn) were…

April renewals create mixed picture for insurance buyers

April renewals create mixed picture for insurance buyers

April renewals create mixed picture for insurance buyers

Despite the apparent hardening of the insurance market following the April renewals in Japan, it is still possible for commercial risk managers to attain coverage at a good price if they can show a positive risk history and are equipped with sound risk management skills. That is according to a number of leading risk managers. In addition, risk managers have…

Allianz buys stake in Thai insurer for $95m

Allianz buys stake in Thai insurer for $95m

Allianz buys stake in Thai insurer for $95m

German insurer Allianz has splashed out $95m to acquire a 19% stake in Thai insurer Sri Ayudhya Capital. The deal makes Allianz the largest shareholder in the company, which will be subsequently renamed Allianz Ayudhya Capital while its general insurance subsidiary will be renamed Allianz Ayudhya Capital. In a statement to the Stock Exchange of Thailand, Ayudhya laid out the…

Philippines to join ASEAN disaster risk facility

Philippines to join ASEAN disaster risk facility

Philippines to join ASEAN disaster risk facility

The Philippines Government has announced its intention to join with Japan and five other Association of Southeast Asian Nations (ASEAN) member states in an insurance facility designed to strengthen resilience against climate and disaster risks. The announcement was made by finance secretary Carlos Dominguez III, who stated a commitment to sign a memorandum of understanding (MoU) on the establishment of…

Marine piracy drops by 25% in Asia

Marine piracy drops by 25% in Asia

Marine piracy drops by 25% in Asia

Latest figures produced by the Regional Cooperation Agreement on Combating Piracy and Armed Robbery Information Sharing Centre (ReCAAP ISC), an anti-piracy consortium of Asian states, have revealed a 25% decrease in marine piracy activity in Asia. The data, presented by ReCAAP ISC executive director Masafumi Kuroki at its annual Piracy and Sea Robbery Conference in Singapore, showed that there were…

RIMS strikes educational partnership in India

RIMS strikes educational partnership in India

RIMS strikes educational partnership in India

US risk management association RIMS has signed a memorandum of understanding (MoU) with the National Insurance Academy (NIA) in India, to develop a risk management education course. The agreement was signed in Pune, India by RIMS vice-president of global development Steven Chou, RIMS board director Jennifer Santiago and NIA director Shri G Srinivasan. The MoU is designed to formalise the…

Delta Insurance launches cyber cover for Asia-Pacific

Delta Insurance launches cyber cover for Asia-Pacific

Delta Insurance launches cyber cover for Asia-Pacific

New Zealand-based specialist insurer Delta Insurance has unveiled a cyber protection and insurance product for businesses in Asia-Pacific. The cyber protection element of the product has been developed in partnership with London-based cybersecurity firm DynaRisk. It will be marketed and distributed from Delta’s New Zealand and Singapore offices. And while the service is aimed at businesses in the region, it…

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