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- September 9 2024
HKIA to prioritise RBC review and re-domiciliation regime, says chairman
The Hong Kong Insurance Authority is aiming to attract insurers and brokers to place larger business volumes in Hong Kong, as it seeks to attract more overseas insurance groups to relocate their headquarters to the city, says chair Stephen Yiu.
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- September 9 2024
DB Insurance to benefit from strong internal capital generation: AM Best
The rating agency has affirmed the Korean non-life insurer's “A+” (superior) financial strength rating and "stable" outlook.
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- September 6 2024
Typhoon Yagi wreaks havoc in Vietnam, China losses top US$100m
The storm has been downgraded to a tropical depression but the Vietnamese meteorological bureau has cautioned about ongoing risks of landslides and flooding as it continued to move westwards.
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- September 6 2024
Extension of cyclone pool coverage period to 7 days would increase average annual loss by 5%: ARPC
The Australian cyclone pool will need to collect additional premiums through rate increases to cover the increased claims costs if such a change was made, the pool's administrator said.
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- September 6 2024
Cathay Century’s capitalisation to benefit from retained earnings growth: AM Best
AM Best affirms the financial strength rating of "A" (Excellent) and the long-term issuer credit rating of “a” (Excellent) on Taiwan's second-largest non-life insurer with a stable outlook.
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- September 6 2024
APAC construction market to see rating pressure as capacity, competition ramps up: WTW
While premiums have been stable in the first half of 2024, Australia and Asia markets are seeing renewed interest from overseas insurers and new entrants.
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- September 6 2024
Everest promotes Maureen Ung to Asia commercial director
Singapore-based Ung has been head of claims for the region since she joined the carrier in June 2024.
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- September 6 2024
Public-private partnership key to closing cyber protection gap: Zurich and Marsh McLennan
As the global cost of cybercrime is projected to nearly triple to US$24 trillion by 2027, the public and insurance sectors must enhance their collaboration, the two firms said in a jointly launched white paper.
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- September 6 2024
RVS Monte Carlo: Reinsurer returns will remain attractive despite expected softening of rate – Aon
In a briefing ahead of the Monte Carlo reinsurance summit, the broker forecasts an increase in pricing competition in 2025, and that insurers will begin to see greater flexibility around capacity provision and coverages.
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- September 6 2024
APAC reinsurance composite’s 2023 COR improves to 91.6%: AM Best
Regional reinsurers saw revenue rise 8.8%, with much of the growth fuelled by China Re and its subsidiary Chaucer.
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- September 6 2024
Japanese P&C carriers 2023 underwriting profit rises 55% to US$1.2bn
Net premium income rose to US$63.3bn as net claims paid dropped by US$370m during the financial year, according to Toa Re's 2024 annual report citing results of 29 members of the General Insurance Association of Japan.
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- September 6 2024
Super typhoon Yagi set to bear down on southern China, Vietnam
The most intense tropical cyclone in decades in the South China Sea is expected to have severe impact in Hainan, southern China and northern Vietnam.
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- September 5 2024
Lloyd’s logs best interim results since 2007 as H1 underwriting profit up 24%
The market’s COR improved to 83.7% from 85.2% a year ago, as its underwriting profit rose to US$4.07bn, thanks to premium growth and better investment returns.
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- September 5 2024
Allianz APAC total business volume up 13% to US$4.8bn in H1 FY 2024
The regional P&C business' operating profit increased by 16% to US$92m on the back of a 12% growth in total business value.
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- September 5 2024
Pacific islands cat pool PCRIC mulls expansion into private sector cover
The captive for the island nations is looking at extending parametric solutions to the underserved private sectors such as tourism, fisheries, and utilities, according to chief executive Aholotu Palu.
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- September 4 2024
Indian government launches US$560m sale of 6.8% GIC Re stake
The secondary placement, being offered at a floor price of US$4.70 apiece over two days, is intended to reduce the government's stake in the reinsurer to meet the minimum public float requirements for Indian listed companies.
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- September 4 2024
Crawford Australia taps Charles Taylor’s Simon Chenery as executive adjuster
Brisbane-based Chenery has more than 34 years in the loss adjusting industry with a focus on large and complex property claims.
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- September 4 2024
Cambodia to join Asean compulsory motor insurance system
The system provides vehicle mandatory third-party liability cover to vehicles transiting across the borders of 10 Asean countries.
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- September 4 2024
Gallagher promotes John Li to APAC client director
Perth-based Li joined the broker in February following its acquisition of mining specialist Ansin Insurance Brokers, whic he founded in 2019.
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- September 4 2024
Zurich elevates David Wainwright to chief risk officer for ANZ
Wainwright, currently CRO for the insurer's UK life business, will start his new role in January next year succeeding Jaimie Sach who is retiring.
