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- August 29 2024
Korea’s FSC might review proposed change in insurers’ capitalisation rules: report
The Financial Supervisory Service had proposed that, starting next year, the discount rate for market valuation of insurance liabilities will be based on the 30-year government bond rate instead of the 20-year rate.
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- August 28 2024
Generali’s Indian JVs to rebrand following regulatory approvals on stake sale: report
The branding overhaul would see "Future" omitted from the name, and will likely take place after regulators approve the stake sale by Future Enterprises Limited, according to the local media.
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- August 27 2024
Japan’s big 4 plan to increase motor premiums by 3.5-5% in January 2025: report
The rate hikes have been triggered by higher payouts amidst rising prices and a growing number of nat cat events.
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- August 26 2024
Underwriting restructuring to help Korea P&I withstand severe losses: AM Best
The rating agency has affirmed the carrier's rating of B++ (good) with a stable outlook, driven by a strong balance sheet, adequate operating performance and the wide range of support it receives from the South Korean government.
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- August 26 2024
IRDAI urges carriers to devise strategies on affordable insurance products: report
The insurance regulator's appeal for more affordable products directed at the country's insurers is part of its move to achieve "Insurance for All" by 2047.
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- August 26 2024
South Korean government pushes ahead with EV battery certification scheme: report
Set to launch in October, the certification scheme seeks to alleviate growing public concerns about lethal fires caused by EV lithium batteries, as insurers are reviewing their existing motor policies to gauge the potential losses in their books.
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- August 23 2024
IAG releases climate action plan to meet FY 2030 emissions reduction targets
The carrier is focusing on phasing out underwriting for entities that are predominantly in the fossil fuels businesses and identifying, assessing and integrating climate resilience, decarbonisation, and other sustainability criteria, into its decisions.
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- August 23 2024
PSC Insurance FY2024 revenue up 15.5% on UK business growth
The ASX-listed broking group said it expects to complete its US$1.5bn sale to The Ardonagh Group by October 11.
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- August 22 2024
Central Bank of India wins bid for minority stake in Generali’s Indian JVs
The state-owned lender will acquire the stakes held by the insolvent Future Enterprises in the life and P&C businesses majority owned by the Italian insurance giant for a reported US$60.5m.
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- August 22 2024
Mega Insurance COR up 10 points to 97% as credit, motor claims climb
Fitch Ratings has affirmed an insurer rating of 'A+ for the company with a stable outlook as its GWP rose 75% in 2023.
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- August 21 2024
Leadenhall and Bennelong launch cat bond fund for Australia and New Zealand
The two firms had in October last year joined hands to distribute ILS strategies to institutional investors in the region.
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- August 21 2024
Texel names Coface’s Hélène Heas as broker for Asia operations
Singapore-based Heas will be supporting the broker's business growth across the Asia Pacific region and further enhance its client solutions and market reach.
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- August 20 2024
GIC Re mulling exiting its non-core housing financing arm: report
The reinsurer, which holds a 15.26% stake in GIC Housing Finance, plans to bring in an investor to divest its stake.
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- August 20 2024
BHSI ropes in AIG’s Tim Air as executive underwriter for marine, Australasia
Melbourne-based Air has 25 years of experience in leadership and distribution roles across both Australia and New Zealand.
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- August 19 2024
Indian government mulls raising insurance FDI limit to 100% from 74%: report
The proposal, backed by IRDAI, is expected to ease other FDI rules for the sector, including a mandate to have Indian citizens in certain segments of the top management, according to a report by the Times of India.
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- August 19 2024
India government may pare stake in GIC Re through secondary placement: report
The state-owned reinsurer plans to starts growing its international book of business from next year as it is expecting a rating upgrade to "A-" from AM Best.
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- August 19 2024
MG Non-Life sale called off after failed fourth attempt: report
KDIC said that it will pursue a private sale in the future after rejecting bids from three players including Meritz Fire and Marine.
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- August 16 2024
Hanwha General Insurance’s rate hike effort pays off for its long-term business: AM Best
AM Best affirmed the rating of Korea's sixth-largest non-life insurer at “a” (excellent) with a "stable" outlook.
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- August 16 2024
Delta Insurance taps Chubb’s Siân Mullane as senior property underwriter
With nearly 30 years of experience, Mullane was most recently a senior property underwriter at Chubb up until June 2024.
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- August 15 2024
Indian regulator introduces new accounting standard on insurance contracts: report
The Insurance Regulatory and Development Authority of India must still issue an implementation roadmap for insurance companies to start adopting the new Ind AS 117, which converges with IFRS 17.
