Weekend Update: Insurer in China U-turn, underwriter unveils latest product and Top 10 brokerages

Making news this week, a major Australian insurer has announced a U-turn on a key international expansion policy, a leading underwriter has unveiled its latest product and the Top 10 brokerages in Australia have been revealed.

IAG announced that it has dropped its expansion plans in China as the business will look to solidify its position in Australia, New Zealand and other Asian markets.

The news comes just a week after in-coming CEO and managing director of the firm, Peter Harmer, told Insurance Business that the company would look at its options in China with a view to expansion.

Brooklyn has announced its latest product as it looks to build on its relationships with brokers in a key area of business.

The new complex risk liability is aimed at a broad section of industries and the company revealed that more new products are on the horizon.

Finally, Insurance Business is pleased to announce the Top 10 brokerages of 2015.

After a record number of entries, the list was whittled down to ten spots with the best of the best in Australia celebrated.