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- May 30 2024
MSIG HK’s underwriting to stay profitable over next two years: S&P Global
S&P has affirmed its "A+" rating on the insurer with a stable outlook, as the carrier will preserve profitability through its stable Japan-related business.
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- May 30 2024
Australian MGA Ocean Underwriting to launch financial lines cover with Wade Cadman in charge
The Sydney-based MGA's and Lloyd's coverholder's new product will target SMEs and will be led by Cadman who joins from MGA Brooklyn Underwriting.
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- May 30 2024
Union Insurance’s capital restored to pre-Covid levels: AM Best
AM Best affirmed its financial strength rating of "A-" (excellent) with a stable outlook, citing a very strong balance sheet and adequate operating performance.
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- May 30 2024
Australian consumer lobby calls for ‘significant reforms’ to general insurance code
The current code of conduct is riddled with loopholes that insurers have exploited, failing to provide adequate protection for consumers during critical times, says ACIL, which has formulated a set of 52 recommendations.
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- May 29 2024
GIC Re’s FY 2024 underwriting losses near US$500m
The India state-owned reinsurer’s COR deteriorated to 111.82% for FY 2024, while GWP for the period grew marginally to US$4.5bn.
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- May 29 2024
Geographic diversification will support Japan P&C insurers’ profitability: Moody’s
- Japan
- Aioi Nissay Dowa Insurance
- Mitsui Sumitomo Insurance
- MS&AD
- Sompo
- Tokio Marine
- Tokio Marine & Nichido Fire
While the sector's outlook is stable, the insurers' overseas premium growth would slow in the next 12-18 months, the rating agency said.
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- May 29 2024
AM Best upgrades Philippine non-life market outlook to stable
The market experienced double-digit increases in the casualty, health and accident lines of business in 2023 with GWP growing 13% year-on-year.
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- May 28 2024
Cédric Boureau returns to CCR Re as senior actuary underwriter for Asia, Africa
Boureau, who had left the French reinsurer for Swiss Re in 2020, will report to John Conan, director of P&C for Asia and Africa.
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- May 27 2024
Paytm General Insurance withdraws application for general insurance licence
The decision allows the group to focus on the insurance distribution portfolio built by its wholly-owned subsidiary Paytm Insurance Broking, it said.
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- May 27 2024
Kay International AMEA appoints Grace Yeo as senior reinsurance broking manager for South-East Asia
Singapore-based Yeo was previously a reinsurance senior broker with UIB Asia Reinsurance Brokers from May 2023.
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- May 27 2024
Gallagher Re beefs up India agriculture team with two new hires
New Delhi-based Naveen Sharma and Mumbai-based Cherukumalli Kiroj Kumar have joined the global broker's agriculture specialty team in India.
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- May 27 2024
Fairfax Asia chair Ramaswamy Athappan passes away, aged 78
The MS First Capital Insurance chief executive and insurance industry doyen died in Singapore on May 22.
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- May 27 2024
Insured losses from Noto earthquake at US$540m: GIAJ
The non-life insurers have settled 67% of the 140,539 accepted claims from across the prefectures hit by the January 1 tremors.
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- May 24 2024
HKIA appoints new executive directors for GI and long-term business
Lee Moung-mo will have oversight of general business, while Marty Lui will take charge of long-term business.
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- May 24 2024
Japan’s big 4 admit to leaking customer data to competitors: report
Agencies handling policies for Tokio Marine & Nichido Fire Insurance, Sompo Japan Insurance, Mitsui Sumitomo Insurance, and Aioi Nissay Dowa Insurance were sharing motor insurance customers' names, policy numbers, premium amounts and maturity dates.
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- May 23 2024
WTW ropes in Alex Rosati from Marsh as Asia head of claims
With over 30 years of experience in underwriting, claims and litigation, Rosati will focus on all aspects of WTW’s claims proposition across all business lines.
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- May 23 2024
Generali Hong Kong launches fine art insurance for private collectors
The insurer's art insurance solutions division, ARTE Generali, plans to extend the offering in Hong Kong to corporate collections, museums and exhibitions later this year.
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- May 23 2024
Fairfax-backed Go Digit makes a quiet trading debut
The US$314m IPO was priced at the top end of the price band valuing the digital insurer at US$3bn.
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- May 23 2024
Australia’s Bellrock builds out construction risk team with two specialist hires
Simon Gray and Carina Bogaard, who are specialists in construction professionals’ risks, join the broker's Sydney office.
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- May 21 2024
Temasek, Warburg Pincus team up to acquire broker Specialist Risk Group
The deal is reportedly aimed at helping the London broker to expand internationally, including in Asia.
