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- October 2 2023
ECGC improves claims experience despite volatility: AM Best
AM Best has assigned a rating of B++ (good) with a stable outlook considering its strong capital position.
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- October 2 2023
Australia’s GI brokers saw 11.4% increase in H1 GWP
The broking sector, which continues its consolidation trend, controlled US$11.9bn of premiums, according to APRA data.
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- September 29 2023
Cathay Century to sustain turnaround as motor revenues pick up: AM Best
The global rating agency has affirmed an insurer rating of A (excellent) for the Taiwanese P&C player with a stable outlook.
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- September 29 2023
McLarens hires Eugene Goh from Sedgwick as technical director in Singapore
Goh's appointment is part of the adjuster's expansion of the specialist leadership team.
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- September 29 2023
Hong Kong’s Nova Insurance posts 10.8% FY revenue growth
The broker saw an uplift in PI and trade credit lines and reported revenues of US$14.1m during the year until the end of June.
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- September 29 2023
ICA urges New South Wales to drop fire services levy after Tasmania axe
The NSW state levy is forecast to collect US$900m in revenue from insurance customers in FY 2023-24.
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- September 28 2023
Tower ups reinsurance excess for first two events to US$10m
An excess of US$11.9m applies for a third event in FY 2024, while the Kiwi P&C player has decreased its upper cat limit to US$447m from US$557m.
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- September 28 2023
Tokio Marine domestic fire lines to benefit from rate hikes, says AM Best while affirming its ratings
Double-digit growth in premiums and profits from US operations boost the Japanese carrier's international business despite Taiwan Covid-19 losses.
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- September 28 2023
D&I: “Diversity allows (re)insurers to understand risks better and evaluate them from multiple angles, with different employees able to identify potential risks that others may overlook.”
One of the main advantages of having a workforce made up of individuals from diverse backgrounds is the wealth of perspectives it brings to the table.
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- September 28 2023
Price fixing by Japan’s big four carriers extends to more than 100 clients: report
The findings are from internal probes, which will be handed to the Financial Services Agency on Friday this week.
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- September 28 2023
Asian Reinsurers’ Summit reaffirms need to foster closer collaboration among Asian reinsurers
Malaysian Re hosted the three-day conference of 11 national reinsurers from the region in Kuala Lumpur from September 25-27.
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- September 28 2023
Korean Re’s earnings leap 300% aided by new accounting rules
The reinsurer also reported100% growth in its underwriting profit of US$159.4m compared with US$79.6m in H1 2022.
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- September 28 2023
ICNZ chief Tim Grafton to step down
Grafton will continue until his successor is appointed, for which ICNZ has already started the hiring process.
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- September 27 2023
Miller teams up with tech firm and Ukrainian authorities for Black Sea war risks cover
Clearwater Dynamics to provide vessel tracking with Lloyd's players set to offer capacity.
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- September 27 2023
RBNZ invites submissions for final round of consultations over insurance supervision
The regulator started a review of the Insurance (Prudential Supervision) Act in 2017 as it seeks to establish a "more proactive and intensive approach".
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- September 27 2023
Pen Underwriting makes senior level hires in Australia
Dean West has been appointed national construction and engineering manager and Hun Kim joins as chief actuary.
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- September 27 2023
MG Insurance majority owner files fresh lawsuit to stop sale: report
Korea Deposit Insurance Corporation had hired Samjeong KPMG to run the sale of the troubled carrier and had set an October 5 deadline for bids.
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- September 26 2023
Korean non-life premiums to grow 4.4% to US$94bn in 2023: Korean Re
The growth will be supported P&C lines including liability and fire with overall premiums expected at rise 7%, the reinsurer said.
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- September 26 2023
ICICI Lombard names Sanjeev Mantri as MD and CEO
Current CEO Bhargav Dasgupta is set to join the Asian Development Bank as vice president – market solutions.
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- September 26 2023
Lotte Insurance’s private equity owner to kick off sale process: report
Majority owner JKL Partners has scripted a turnaround for the carrier since a 2019 purchase, but buyers have concerns over whether the robust earnings of carriers under IFRS17 are sustainable.
