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Mega cargo vessels present growing claims issues for Asia ports
Cargo from mega vessels is exposed to potentially higher risks by staying in ports longer, increasing the prospect of claims in relation to theft, delays in delivery, flooding, defrosting and container damage.
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RBNZ invites submissions for final round of consultations over insurance supervision
The regulator started a review of the Insurance (Prudential Supervision) Act in 2017 as it seeks to establish a "more proactive and intensive approach".
The regulator started a review of the Insurance (Prudential Supervision) Act in 2017 as it seeks to establish a "more proactive and intensive approach".
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Pen Underwriting makes senior level hires in Australia
Dean West has been appointed national construction and engineering manager and Hun Kim joins as chief actuary.
Dean West has been appointed national construction and engineering manager and Hun Kim joins as chief actuary.
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MG Insurance majority owner files fresh lawsuit to stop sale: report
Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.
Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.
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Suncorp expects December tribunal hearing on blocked ANZ bank sale with decision in February
Pending all approvals including from the Australian Competition Tribunal, the group sees a potential sale completion in the middle of 2024, chairman Christine McLoughlin says.
Pending all approvals including from the Australian Competition Tribunal, the group sees a potential sale completion in the middle of 2024, chairman Christine McLoughlin says.
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Korean non-life premiums to grow 4.4% to US$94bn in 2023: Korean Re
The growth will be supported P&C lines including liability and fire with overall premiums expected at rise 7%, the reinsurer said.
The growth will be supported P&C lines including liability and fire with overall premiums expected at rise 7%, the reinsurer said.
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ICICI Lombard names Sanjeev Mantri as MD and CEO
Current CEO Bhargav Dasgupta is set to join the Asian Development Bank as vice president – market solutions.
Current CEO Bhargav Dasgupta is set to join the Asian Development Bank as vice president – market solutions.
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Lotte Insurance’s private equity owner to kick off sale process: report
Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.
Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.
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PARIMA Tokyo conference to deliberate on the future of risk management
The conference, themed ‘Adapting to Permacrisis’, will draw senior risk and insurance professionals from around Asia Pacific.
The conference, themed ‘Adapting to Permacrisis’, will draw senior risk and insurance professionals from around Asia Pacific.
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Philippines proposes new 2% tax on non-life premiums: report
The proposed new bill also aims to impose a one-time documentary tax stamp for insurance policies exceeding US$1,800.
The proposed new bill also aims to impose a one-time documentary tax stamp for insurance policies exceeding US$1,800.
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Chubb appoints Nikki Quain as New Zealand deputy property manager
Auckland-based Quain most recently worked at BHSI and has also had stints at Vero and AIG.
Auckland-based Quain most recently worked at BHSI and has also had stints at Vero and AIG.
Popular posts:
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APAC carriers’ coal jitters sees excess capacity shift to renewables, gas
Regional (re)insurers are replacing ESG-hit premiums by increasing business from greener energy projects, potentially driving down rates.
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Ominous start to spring weather in Australia, New Zealand puts (re)insurers on high alert
Bushfires, an El Niño declaration, record rain, landslides, heavy snow and an earthquake in the last few days point to busy six months ahead for claims' handlers.
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China-Taiwan woes put pressure on marine (re)insurance market
Lack of data for accumulation risks and unavailability of a maximum loss scenario are real concerns for the shipping sector, says IUMI president Frédéric Denèfle.
Spotlight
M&A
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MG Insurance majority owner files fresh lawsuit to stop sale: report
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Suncorp expects December tribunal hearing on blocked ANZ bank sale with decision in February
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Lotte Insurance’s private equity owner to kick off sale process: report
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Bolttech raises US$50m from LeapFrog in extended Series B round
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Steadfast’s Insurance Brands adds Peacock Insurance to its fold
ESG
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APAC carriers’ coal jitters sees excess capacity shift to renewables, gas
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Lloyd’s partners UN to scale insurance access for climate-vulnerable countries in APAC
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Extreme heat, typhoon ‘most concerning’ climate hazards for APAC: MSCI
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Opinion: Hong Kong’s insurance players should step up risk mitigation for clients and the city
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Lloyd’s Lab’s 11th cohort has focus on APAC climate, cyber and sustainability
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Climate modelling and risk engineering expertise can help with risk mitigation and insurance affordability.
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Embedded insurance is more than just a tick in the box, it calls for a hands-on approach involving thoughtful consideration of customer value.
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Multiple positive growth drivers underpin optimism about the insurance outlook of the region.
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While supply chain management is inherently complex, companies can take proactive measures to minimise risk exposures.
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Pen Underwriting makes senior level hires in Australia
Dean West has been appointed national construction and engineering manager and Hun Kim joins as chief actuary.
-
ICICI Lombard names Sanjeev Mantri as MD and CEO
Current CEO Bhargav Dasgupta is set to join the Asian Development Bank as vice president – market solutions.
-
Chubb appoints Nikki Quain as New Zealand deputy property manager
Auckland-based Quain most recently worked at BHSI and has also had stints at Vero and AIG.
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Crawford promotes Charlotte Lau to regional head of operations
Singapore-based Erwin Yu will take over from Lau as director of market development Asia.
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Generali GC&C makes two senior Asia appointments in Hong Kong
Matthew Day becomes Asia head of risk engineering & loss prevention while Danny La joins as Asia head of strategic initiatives & business transformation.
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Liberty General Insurance appoints Parag Ved as CEO
Ved takes on the role following the retirement of Roopam Asthana, who was instrumental in establishing Liberty’s business operations in India.
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Canopius continues Australia expansion with two senior hires
Lucy Lumb joins the firm as underwriter, property coverholder and delegated authority, while Trisha Urquhart joins as underwriter - accident and health.
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Miller rolls out APAC treaty team with Lockton Re raid
The team led by Richard Broad will see Bruce Ford and Pei Nee Goi join him in Singapore, while Jo Garnett and Hui Sin Low join in Malaysia.
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Sedgwick New Zealand strengthens business development team to expand local base
Hamish Blair (pictured) has been promoted to head of business development and Shuzaha Houghton roped in as business development manager.
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Arch Australia hires Joe Bone as PI product and distribution manager
Based in Sydney, the former BHSI exec will report to Anthony Hinde, underwriting manager, professional indemnity.
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Why are take-up rates for environmental impairment liability insurance low in Asia?
Jui Lien Chung, AXA XL
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How to build more inclusive insurance markets
Melissa Leitner, Swiss Re
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Fine art: An asset unlike any other
Sylvie Gleises, AXA XL
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Six tech trends shaping the market in 2023
David Lynch, bolttech
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Confronting inflation to avoid playing catch up at renewals
Mark Senkevics, Swiss Re
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Tracking Asia’s volatile marine market
Jonathan Holmes, AXA XL
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Loss adjusting 2.0 – what does the future hold for this venerable profession?
Chris Panes, McLarens
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Asian marine premiums cross US$10bn despite slowing cargo growth
Flattening economic growth in China and the strengthening dollar drive down cargo premiums from the region, while hull premiums benefit from post-Covid recovery, says IUMI.
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Chinese P&C carriers focus on agri, liability offerings in acceleration away from motor
Improved underwriting results, new products and a push from the government are driving growth, but an uncertain economic outlook has seen carriers rush to pare credit surety exposures.
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China reopening to drive non-life growth as APAC nat cat protection gap widens
Swiss Re is forecasting emerging Asia to see non-life growth of over 6.5% in 2023 with global P&C premiums set to cross US$4tn this year.
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Hong Kong and China P&C players’ underwriting margins squeezed
Carriers are under pressure as reinsurance costs rise, however, at 10% coverage for the top 15 Chinese insurers, there is plenty of room to grow.
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Singapore and Hong Kong see underwriting profit, GWP bounce back
While faster premium growth saw the Lion City extend its lead over the regional rival, the SAR insurers' underwriting profits more than doubled in 2022.
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Underwriting gains spur Australian carriers stung by investment losses
Rate increases helped non-life underwriting profit grow 69.4% in 2022 despite higher claims.
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Asian economic, BI and cyber worries on the rise in 2023
Higher-than-expected inflation and financial market volatility are among the biggest concerns for insureds in the region.
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APAC to drive non-life GWP growth and profitability until 2024
East Asia will perform particularly well despite worsening macroeconomic challenges, says Swiss Re economist.
How Japanese non-lifers are coping with more frequent nat cat risk
Teruki Morinaga, Director, Insurance, Fitch Ratings Japan
Emerging trends in a post-pandemic world
Andy Tsui, Allied World
Regulatory challenges and opportunities for insurers in 2023
Erik Bleekrode, KPMGIndustry insights and in-depth analysis
Our reports take deep dives into a variety of themes with comments from leading practitioners, data and proprietary analytics. Keep on top of the latest market trends and discover opportunities with our reports.
APAC aviation recovery brings risks over replacing and repairing older aircraft
Andy Pickford, McLarens