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Africa Specialty Risks Group becomes reinsurer in Mauritius

ASR is focused on becoming the partner of choice to corporations through the provision of comprehensive and bespoke risk mitigating insurance solutions, and offers capacity across Property, Construction, Political Risk, Trade Credit, Energy, Liability and PVT (War, Political Violence and Terrorism), with further lines of business being developed.

Australian general insurers welcome `Bushfire Funding’, say Tax Rise ‘Unsustainable

The federal government’s allocation of A$1.2 billion (US$931 million) over five years to improve Australia’s capability to prepare for, respond to, and recover from natural disasters and now the Victorian government’s A$517 million investment in bushfire specific resilience initiatives will protect communities vulnerable to the impact of extreme weather and natural disasters,the ICA said in a statement.

“This welcome news is tempered, however, by the Victorian budget’s projections that revenue from insurance stamp duty will increase by almost one-third over the budget estimates, rising 29% from A$1.517 billion in 2020-21 to A$1.959 billion [US$1.519 billion] in 2024-25,” the ICA explained.

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