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- July 27 2023
Philippines eyeing national indemnity programme for 2024 after World Bank cat bond expiry
The country, hit this week by Typhoon Doksuri, is seeking US$37m in the 2024 national budget to cover the premium costs.
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- July 27 2023
Pacific International acquires 5.82% stake in Tower for US$8m
The Australian carrier acquired 22 million shares in the Kiwi general insurer.
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- July 27 2023
Steadfast, PSC among bidders for TA Associates’ Honan exit: report
The Goldman Sachs-run broker sale collected non-binding indicative offers from trade players and buyout firms for a deal that could be valued up to US$400m.
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- July 27 2023
CTBC Insurance announces US$95m capital reduction plan
The proposal is to offset losses following claims from Covid policies sold last year and the capital reduction will have no impact on its capital adequacy and net worth ratios.
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- July 27 2023
Axa XL bolsters Australian distribution team with Allianz hire
Melbourne-based Michael Eastmure will be Axa XL’s client and distribution leader.
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- July 27 2023
Marine (re)insurers in a lurch with rise of ‘dark fleets’ in APAC
Carriers feel they are left on the margins while unscrupulous actors in the region side-step Western sanctions on Russian shipments.
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- July 27 2023
Hana and Shinhan join Kyobo, Woori in bid for MG Non-Life Insurance: report
State-run Korea Deposit Insurance Corp is keen to conclude a transaction at the earliest and may not fetch its earlier target price.
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- July 26 2023
ZhongAn P&C posts 38% jump in H1 premiums; chairman steps down
The digital player has appointed former CEO Hai Yin as its new chairman, replacing Yaping Ou who has left the firm for personal reasons.
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- July 26 2023
Tokio Marine Kiln signs up political risks specialist Cindy Gunawan in Singapore
Gunawan, who joins from Marsh, will report to regional underwriting director Jamie Tang.
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- July 26 2023
Chubb’s APAC P&C premiums grew 12% in Q2 2023
The insurer’s Asia Pacific NWP for the first half of the year, excluding Japan, climbed 13% to US$1.5bn.
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- July 26 2023
Large loss expected from stricken ship and containers off Taiwan coast as typhoon looms
A Palau-flagged container ship has sunk possibly triggering environmental and long-term liability claims, as the Philippines, Taiwan, China and Hong Kong prepare for huge storm.
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- July 26 2023
Philippines non-life market outlook negative due to higher risk retention: AM Best
The country’s carriers have reduced proportional cover for property insurance due to the hardening market and tighter terms.
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- July 25 2023
Chubb joins Zurich in race to acquire stake in Indian carrier Kotak: report
Both insurers are in the fray for a 49-51% stake in the general insurer that is being valued under US$800m.
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- July 25 2023
Insurance Brands Australia acquires Melbourne Insurance Brokers
MIB, sold by Mark Perree, will start operating under Steadfast-owned Insurance House brand name.
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- July 25 2023
Berkley Insurance Asia appoints Omi Lok as head of casualty, Greater China
Hong Kong-based Lok, who joins from Axa, has over two decades of casualty experience across retail markets in Asia.
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- July 25 2023
Asia cyber market ‘to outperform the rest of the world’
While most of the buyers are still larger companies, the real growth opportunities come from the underpenetrated SME and mid-market.
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- July 25 2023
Exclusive: Sedgwick cuts 14 staff in Singapore – sources
Nicki Dunn, Sedgwick's Singapore chief executive, tells IAN that the city-state remains the "focal point" of the adjuster's Asia business.
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- July 24 2023
Allianz Commercial launches in Asia and Australia
The merged division will have 11 regions with Asia led by Christian Sandric and Australia by Phuong Ly.
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- July 24 2023
Indian government assures capital support to state-owned general insurers: report
The three carriers, National Insurance, United India Insurance and Oriental Insurance, have requested US$2.5bn of injection in total.
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- July 24 2023
HDI Global hires Nathan Jones as property, mining underwriting manager for western region
Perth-based Jones joins from Suncorp, where he worked for the past 13 years
