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…

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore reveals new medical data breach

Singapore’s health ministry has disclosed that more than 14,200 people with HIV had their registry data leaked online raising more questions about the security of its citizens’ medical records. The cyberattack, which occurred in 2016 but was only discovered on 22 January, is the second major leak of personal health data to be reported in less than a year following…

Tokio Marine reshuffles boardroom to pursue overseas M&A

Tokio Marine reshuffles boardroom to pursue overseas M&A

Tokio Marine reshuffles boardroom to pursue overseas M&A

Japan’s largest property and casualty (P&C) insurer Tokio Marine has announced a series of executive appointments and signalled an intention to actively pursue international acquisitions. The most notable boardroom change is the departure of long-time chairman of the board Shuzo Simi, who is leaving after nearly five decades at the company. He will be replaced by current president and chief…

Iran prepares to welcome foreign insurers

Iran prepares to welcome foreign insurers

Iran prepares to welcome foreign insurers

Foreign insurers are reportedly lining up to establish reinsurance operations in Iran, according to the country’s top insurance official. Head of Central Insurance Iran (CII) Gholamreza Soleymani told an insurance and risk management conference that several companies have expressed their readiness to operate in Iran. The country’s insurance industry has been affected by the reimposition of US sanctions by the…

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

The SingHealth cyberattack and the implications for financial institutions

In July 2018, news emerged that between 27 June and 4 July, hackers had infiltrated the IT systems of Singapore Health Services (SingHealth), the largest healthcare group in Singapore. The hackers illegally accessed and copied the non-medical personal particulars of 1,495,367 patients to servers hosted overseas. Approximately 159,000 of the affected group, including Prime Minister Lee Hsien Loong and several…

Chubb makes new APAC appointment

Chubb makes new APAC appointment

Chubb makes new APAC appointment

Global insurer Chubb has promoted Glen Browne to the role of deputy regional president for Asia-Pacific and division president, southeast Asia. Effective immediately, the role covers the general management of Chubb’s activity in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam as well as any future southeast Asian territories. Mr Browne will be based in Singapore, reporting to Paul McNamee, senior…

Beazley partners with HK’s Pegasus on APAC financial lines coverage

Beazley partners with HK’s Pegasus on APAC financial lines coverage

Beazley partners with HK’s Pegasus on APAC financial lines coverage

Lloyd’s insurer Beazley is expanding its Asian insurance offering via a linkup with Hong Kong-based Pegasus Underwriting for financial lines coverage. Pegasus, a Lloyd’s coverholder, will see its financial lines coverage across professional indemnity, directors and officers, cyber and medical malpractice supported by extra capacity from Beazley. The combination of Pegasus’s market knowledge and regional broking relationships with Beazley’s global…

Singapore’s Etiqa targets SMEs with online insurance platform

Singapore’s Etiqa targets SMEs with online insurance platform

Singapore’s Etiqa targets SMEs with online insurance platform

Singapore-based insurer Etiqa has launched an online platform for small to medium-sized enterprises (SMEs) to buy commercial insurance. The Business Owners Super Suite (BOSS) enables SMEs to engage in what Etiqa claims is a wholly automated or ‘straight-through’ purchasing process. Underinsurance and an absence of formal risk management among SMEs is one of the biggest problems in the Asian commercial…

POP and Allianz launch M&A insurance for Australia

POP and Allianz launch M&A insurance for Australia

POP and Allianz launch M&A insurance for Australia

Australia-based specialty insurer POP Insurance has teamed up with Allianz Global Corporate Specialty (AGCS) to launch an insurance product covering merger and acquisition exposure in Asia Pacific. Fusion Specialty M&A MGA, which will be based in Sydney, will provide a number of transactional insurance services including warranty and indemnity (W&I), tax opinion and contingent liability. According to POP and Fusion…

Asia-Pacific holds key to future insurance growth: EY

Asia-Pacific holds key to future insurance growth: EY

Asia-Pacific holds key to future insurance growth: EY

A willingness to experiment and embrace disruption among Asia-Pacific insurers holds the key to the industry’s future, according to a recently released report from consultant EY. Its insurance outlook for 2019 report reveals that both the life and non-life sectors are growing in the region, against a backdrop of weak growth in insurance markets globally. While the life sector has…