Pacific Islands Archives - InsuranceAsia News https://insuranceasianews.com/country/pacific-islands/ Tue, 09 Dec 2025 08:12:59 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Tower, CelsiusPro collaborate to launch rainfall parametric cover in Fiji https://insuranceasianews.com/tower-celsiuspro-collaborate-to-launch-rainfall-parametric-cover-in-fiji/ Tue, 18 Nov 2025 03:17:58 +0000 https://insuranceasianews.com/?p=204771 Rainfall Response Cover provides a rapid cash payout when a policyholder is impacted by heavy rainfall, regardless of damage, without the requirement of an insurance assessor’s sign-off.

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New Zealand P&C insurer Tower and Zurich-headquartered specialist parametric insurtech CelsiusPro have signed a partnership to launch a new rainfall parametric solution in Fiji.
Rainfall Response ...

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]]> Marble Re’s underwriting profitability remains solid: AM Best https://insuranceasianews.com/marble-res-underwriting-profitability-remains-solid-am-best/ Thu, 23 Oct 2025 08:39:52 +0000 https://insuranceasianews.com/?p=202680 AM Best has reaffirmed Marble Reinsurance Corporation’s A- (Excellent) rating with a stable outlook, citing strong capital adequacy and robust operating results.

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Marble Reinsurance Corporation, a subsidiary of Japanese trading conglomerate Marubeni, is expected to maintain stable underwriting profitability, given the historically low loss ratio of its existing...

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]]> Asian Development Bank, UN collaborate to launch climate insurance solutions for Fijian small businesses https://insuranceasianews.com/asian-development-bank-un-collaborate-to-launch-climate-insurance-solutions-for-fijian-small-businesses/ Tue, 19 Aug 2025 08:05:42 +0000 https://insuranceasianews.com/?p=197867 Initiative is supported by US$950,000 in technical assistance from the Asia-Pacific Climate Finance Fund.

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The Asian Development Bank (ADB), the United Nations Capital Development Fund (UNCDF), and the UN Development Programme (UNDP) have partnered to design climate insurance solutions for micro, small, an...

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]]> Tonga renews US$17m multi-peril cover with PCRIC https://insuranceasianews.com/tonga-renews-us17m-multi-peril-cover-with-pcric/ Fri, 18 Jul 2025 09:03:25 +0000 https://insuranceasianews.com/?p=195563 Renewed policy is expected to provide coverage for tropical cyclones, earthquakes, tsunamis, and droughts, and will have a US$1m premium contribution from the Tongan government.

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The Pacific island nation of Tonga has renewed its parametric insurance policy with the Pacific Catastrophe Risk Insurance Company (PCRIC) for the 2025/26 season.
Tonga’s renewed policy is expected to...

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]]> Kiwi insurer Tower confirms Paul Johnston as CEO https://insuranceasianews.com/tower_johnston/ Wed, 11 Jun 2025 07:11:35 +0000 https://insuranceasianews.com/?p=192648 Johnston, who has been interim CEO since February, will start in the new role from Wednesday.

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New Zealand insurer Tower has confirmed Paul Johnston as its permanent CEO, effective from Wednesday, according to a stock market announcement.
Johnston (pictured) has been serving as interim CEO sinc...

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]]> PCRIC makes US$45,000 parametric payout on coral reef cover in Cyclone Rae aftermath https://insuranceasianews.com/pcric-makes-us45000-payout-on-coral-reef-cover-in-cyclone-rae-aftermath/ Mon, 10 Mar 2025 23:30:48 +0000 https://insuranceasianews.com/?p=178150 Payment to an NGO in Fiji will be used for reef clean-up and restoration activities and community livelihood support hit by the tropical cyclone.

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The Pacific Catastrophe Risk Insurance Company (PCRIC) has made a US$45,000 payout on its parametric cover for coral reefs in Fiji in the aftermath of the recent Tropical Cyclone Rae.
The Pacific Isla...

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]]> Australia set for increased summer rainfall, bushfire risks: Gallagher Re https://insuranceasianews.com/australia-set-for-increased-summer-rainfall-bushfire-risks-gallagher-re/ Thu, 20 Feb 2025 07:28:14 +0000 https://insuranceasianews.com/?p=176759 Likelihood of above-average cloudiness and high ocean temperatures means Australia is expected to have notably above-average minimum temperatures through Q1 2025.

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Australia is expected to face more rainfall around tropical and eastern coastal areas due to the progression of the Pacific Ocean into a La Niña-like pattern, as well as particularly warm water in the...

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]]> Solomon Islands sue Korea P&I Club, MS Amlin Marine in oil spill lawsuit: report https://insuranceasianews.com/solomon-islands-sue-korea-pi-club-ms-amlin-marine-in-oil-spill-lawsuit-report/ Mon, 10 Feb 2025 10:12:07 +0000 https://insuranceasianews.com/?p=175556 The residents of the island are seeking up to US$38m in compensation for a 2019 grounding of a cargo ship.

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The residents of Rennel Island in Soloman Islands have named Korea P&I Club and MS Amlin Marine in a lawsuit against seeking compensation over a 2019 oil spill, according to local media reports.
T...

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]]> Tower names Paul Johnston as interim CEO https://insuranceasianews.com/tower-names-paul-johnston-as-interim-ceo/ Thu, 23 Jan 2025 05:31:54 +0000 https://insuranceasianews.com/?p=174293 Johnston, who was most recently CFO for the New Zealand carrier, will succeed incumbent CEO Blair Turnbull effective from February 13.

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New Zealand insurer Tower has promoted CFO Paul Johnston to interim chief executive, effective from February 13, 2025, according to a press release.
Johnston (pictured) will succeed incumbent CEO Blai...

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]]> QBE’s Australia Pacific chief claims officer Jon Fox departs https://insuranceasianews.com/qbes-australia-pacific-chief-claims-officer-jon-fox-departs/ Wed, 11 Dec 2024 02:49:29 +0000 https://insuranceasianews.com/?p=171662 Recruitment for Fox’s successor has commenced, in the interim the insurer's managing director for consumer Julie Starley will step in, a spokesperson told IAN.

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QBE’s chief claims officer for Australia Pacific (AUSPAC) Jon Fox will step down at the end of this year “to explore new opportunities,” a QBE spokesperson told InsuranceAsia News.
“[Fox] is a widely ...

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