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- March 21 2024
China United Property Insurance put on negative rating watch: Fitch
The rating action is due to potential reduction in support from parent China Orient Asset Management and the insurer's weakening capital strength.
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- March 21 2024
Tokio Marine eyes overseas acquisitions with US$10bn war chest: report
The insurer has aspirations to grow its business in the commercial insurance sector in North America, Asia, Europe, Australia as well as the Lloyd's market, co-head of international business Chris Williams told Reuters.
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- March 21 2024
Bond & Credit Co exec breached underwriting limits in Greensill deals: report
Court documents obtained by the Australian Financial Review showed that Tokio Marine had self-reported the issue to regulators nine months before the financier’s collapse.
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- March 21 2024
New Zealand court overturns tribunal’s imposition of new obligations on home insurance claims
Canterbury Earthquakes Insurance Tribunal in 2022 ordered that IAG New Zealand had to pay all repair costs upfront upon entering a building contract.
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- March 19 2024
Singapore non-life domestic underwriting profit drops 11%: association
Gross written premiums for employer’s liability rose 10.2% from a year ago on the back of an expansion of resident and foreign labour market, the General Insurance Association said.
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- March 19 2024
Foreign investment in India’s insurance sector tops US$6.5bn since liberalisation in 2015
The number of insurance players in the country rose to 70 from 53 nine years ago, when the government relaxed the cap on international investment for insurers and intermediaries.
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- March 19 2024
Swiss Re elevates Amitabha Ray as India CEO
Mumbai-based Ray takes over from Hadi Riachi, who is moving to Swiss Re CorSo as head of global underwriting centre.
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- March 19 2024
Lockton expands India leadership team with three Aditya Birla Insurance Brokers hires
Mukul Bhatia has been appointed managing director, Irfan Shirwani has joined as managing director of placement and claims, and Prasanna Hunur has started as senior director of sales.
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- March 18 2024
Ping An P&C improves underwriting with reduced credit and guarantee exposure, new motor policies: AM Best
The rating agency has affirmed the insurer rating of A (excellent) with a stable outlook.
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- March 18 2024
Japan’s big three to improve motor COR to 95% by 2026: Jefferies
The improvement will be driven by premium hikes, efficiency gains and lower expense ratio, according to a report by the investment bank.
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- March 15 2024
Asuransi Astra’s A- rating affirmed on strong balance sheet strength: AM Best
Indonesia's third-largest general insurer's A- rating was affirmed on its strong operating performance, with COR averaging 88.1% for the five years up to 2023.
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- March 14 2024
Vietnam’s amended law set to stunt bancassurance sales growth: AM Best
Heightened regulatory scrutiny has already led to the first fall in insurance premiums in a decade in 2023. Still, the amended law will impact the non-life sector less compared to life.
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- March 14 2024
Philippines regulator doubles third-party motor liability coverage limits
The Insurance Commission said there would be no increases in premium, and the rates prescribed in 2006 shall remain in force.
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- March 14 2024
Sedgwick promotes Nicki Dunn to chief client officer for Asia
The global loss adjustor has concurrently promoted Irwin Wei and Kalnisha Velu, both have joined Dunn's team.
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- March 14 2024
HDI Global names Paula Ritchie head of single risk for Australia, New Zealand
Joining from Arch Insurance Australia, Ritchie is tasked with expanding the the specialty insurer's offerings in the region.
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- March 14 2024
GSA Insurance Brokers overhauls senior management
Elyssa Johnson has been promoted as head of general Insurance, and Johnnie Keymer and Ben Rubio were elevated as joint-lead for professional and financial lines team.
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- March 13 2024
PSC Insurance confirms buyout talks with strategic partners
The company has mandated Goldman Sachs for the sale and has held informal discussions with Gallagher and Ardonagh Group, according to an Australian Financial Review report.
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- March 13 2024
McLarens promotes Andrew Brooke to managing director New Zealand
Auckland-based Brooke is replacing former managing director Dean Garrod who quit in February to pursue new opportunities.
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- March 12 2024
Australia unveils ‘grid’ for financial sector, offers transparent roadmap on regulatory changes
Insurance Council of Australia welcomes plans to introduce the new regulatory framework stating this would lead to greater efficiency, consistency and clarity for policymakers, regulators, and insurers.
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- March 11 2024
Overseas premium of Korea’s four major non-life insurers surpasses trillion-won milestone in 2023: report
The country’s big four have doubled their international business in the last five years led by DB Insurance, which accounts for 50% of the overseas premium.
