-
- March 4 2024
Taiwanese regulator set to finalise rules to ease insurers offshore bond issuance: report
The amendments seek to allow Taiwanese carriers to issue regulatory bonds via SPVs, which will reduce related tax costs and help them cope with IFRS 17 implications.
-
- March 1 2024
Korean Re Switzerland promotes Michael Hinz to CEO
Currently as chief underwriting officer, Hinz will succeed incumbent Markus Eugster who is stepping down after more than five years with the reinsurer.
-
- February 28 2024
Hong Kong reiterates pledge to develop as ILS hub in 2024-25 budget
The city's financial secretary repeated its goal of developing insurance-linked securities such as cat bonds, and attracting captives as key to developing its specialty insurance market.
-
- February 26 2024
Taiping Re may post FY 2023 underwriting loss on Turkey, Hong Kong cat exposures: Fitch
Higher retentions, reduced excess-of-loss coverage and increased retro cost are weighing on the reinsurer's performance, with its COR for the first half up at 106%.
-
- February 26 2024
Suncorp’s H1 net profit up 5.4% on strong consumer business growth, investment gains
Its first-half GWP rose 16%, while COR edged up 95.7%. CEO Steve Johnston expects inflation to remain a challenge this year.
-
- February 23 2024
Zurich Asia property & casualty FY2023 GWP up 11% on travel business recovery
Asia Pacific's operating profit rose 18% primarily due to growth in life business, while higher commission rate linked to its travel business sales weighed on P&C combined ratio.
-
- February 22 2024
Insurers lobby for removal of green infrastructure investing roadblock
The twin challenges of inflation and net-zero transition facing (re)insurers are highlighting the role that infrastructure assets can play in their portfolios, with infrastructure loan yielding as much as 600 bps in risk premium and equities returning 12%.
-
- February 21 2024
PSC Insurance upgrades full-year guidance after 39% rise in H1 bottom line
The Melbourne-based global broking group saw strong performance in its distribution business in Australia, offsetting the small decline recorded by its existing UK business.
-
- February 20 2024
Taiwan’s regulator expects EV insurance reference rates to be finalised by Q2: report
Insurance policies for electric vehicles are expected to be ready for launch as early as the second-half this year after the industry association, regulator finalise the reference rates and terms for the non-life sector.
-
- February 20 2024
Australia’s competition tribunal greenlights Suncorp’s US$3.2bn bank sale to ANZ
After the deal, which is now expected to be completed by mid-2024, Suncorp will remain a dedicated insurance group headquartered in Brisbane.
-
- February 16 2024
QBE FY 2023 GWP rises 8% on higher premium rates
Net profit more than doubles for the full year of 2023, although still missing analysts' expectations. Its COR improved marginally to 95.2%.
-
- February 15 2024
Fubon Insurance shakes off Covid provision, logs record monthly premium in January
The non-life carrier recorded strong growth in commercial fire and engineering insurance in January, which bolstered direct written premium to US$221.9m.
-
- February 15 2024
Overseas growth drives Japan’s big three as domestic premiums flatten
The third quarter results reported by MS&AD, Tokio Marine and Sompo Group show strong top-line growth and substantial improvements in profits from international arms due to lower nat cat losses, reduced Covid-19 losses and forex gains.
-
- February 9 2024
Fitch slashes Indonesian insurer Eka Lloyd’s outlook on lower capitalisation
The Indonesian insurer's “BBB+” rating is affirmed. Still, credit insurance, which accounts for the bulk of its premium, could add volatility to its reserve.
-
- February 9 2024
Pacific Prime makes Australia foray with senior hire
The broker has appointed Melbourne-based Honan Financial veteran Michael Atta as head of employee benefits.
-
- February 7 2024
WTW promotes Royston Tan to head of health & benefits for APAC
Tan is succeeding incumbent Cedric Luah who will be leaving the firm after a nearly nine-year tenure.
-
- February 6 2024
Indonesia’s tougher minimum capital rules for (re)insurers to drive consolidation: Fitch
About 62% of Fitch's rated carriers, all non-life and reinsurers, will need to raise new capital to meet the minimum equity requirement, which could unleash a wave of M&A.
-
- February 5 2024
Taiwan non-life sector returns to profitability in 2023
Pre-tax profit for the non-life sector totalled US$557m as the drag from Covid-19 related losses eased.
-
- February 2 2024
Perils raises Auckland floods insured loss estimate to NZ$2.2bn
Nearly 70% of the property loss was from personal lines, according to the loss aggregator's final tally, which is 12% higher than its August 2023 estimate.
-
- January 31 2024
Canopius strengthens APAC credit & political risk team with underwriter hire
Sydney-based Dimitri Plastiras, who will be transferred to Singapore later this year, is among four senior hires by the specialty (re)insurer globally for the credit & political risk division.
