Pacific International Insurance placed under review status

Insurance Business America | April 16, 2019

APRA-licensed Pacific International Insurance had its B++ (Good) financial strength rating and “bbb” long-term issuer credit rating placed under review with developing implications by A.M. Best. The rating actions come after Pacific announced a forthcoming material change to its business plans and scope of operations over the near term. Pacific, which started as a small and niche insurer underwriting principally liability products for the pest control and building inspection industries in Australia and New Zealand, will underwrite a sizeable portfolio of existing motor business in Australia from July. The motor business arose from affiliated underwriting agencies held by Badger International. “This strategic change, coupled with Pacific’s wider intentions to grow its new product offerings in Australia and New Zealand rapidly, are likely to result in a material change to the company’s operations over the near term,” A.M. Best said.

Spotlight

A powerful combination of changing technologies, demographics, and customer expectations is threatening to upend the insurance industry. At the same time, a series of hurricanes, wildfires, and other natural disasters in the United States helped to make 2017 the worst year on record for global losses in the property and casualty business.

Spotlight

A powerful combination of changing technologies, demographics, and customer expectations is threatening to upend the insurance industry. At the same time, a series of hurricanes, wildfires, and other natural disasters in the United States helped to make 2017 the worst year on record for global losses in the property and casualty business.

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Trust Insurance Cyprus Launches eBaoCloud DigitalCore to support General Insurance Business

Trust Insurance Cyprus, eBaoTech | February 09, 2021

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Luma Financial Technologies, Insurance Technologies | February 24, 2021

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