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- August 7 2023
AM Best upgrades DB Insurance’s rating to A+ as underwriting ‘outperforms’ peers
DBI is South Korea's third-largest non-life insurer with a market share of around 17% of GWP in 2022.
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- August 4 2023
Swiss Re P&C Re posts 94.7% COR for H1
Swiss Re P&C Re's global net profit surged to US$904m in the first six months of 2023, helped by fewer cat losses in Q2. July 1 renewals saw prices increase 21%.
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- August 4 2023
China’s P&C underwriting to be hit by more extreme events after record Beijing rainfall: S&P
The rating agency expects the recent flooding event to result in "a modest hit" to the sector, but the country is still in the Q3 cat season.
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- August 4 2023
Perils revises New Zealand floods loss close to NZ$2bn
This latest estimate compares to NZ$1.65bn in its first loss report six weeks after the event.
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- August 4 2023
Taiwan insurers face high capital pressure despite eased rules: Fitch
Certain new amendments under the new solvency framework will also ease the burden on local insurers.
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- August 3 2023
Chubb promotes Serene Neo to APAC head of A&H
Singapore-based Neo started the role this week and reports to Ben Howell, head of consumer, Asia Pacific.
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- August 2 2023
Sompo International takes BHSI’s Emily Poh to head APAC professional lines
Singapore-based Poh will report to Paul O'Neill, regional head of commercial lines.
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- August 2 2023
Japan insurance price-fixing scandal escalates as multiple complaints come to light
Reports suggest the country's big four non-life carriers may have colluded to fix premium rates in co-insurance contracts involving Tokyu Group, Keisei Electric Railway, ENEOS and East Japan Railway, among others.
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- August 2 2023
Scandal-hit Vesttoo to close Asian offices: report
The insurtech will close its Tokyo, Hong Kong and Seoul offices, and lay off around 75% of its global staff.
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- August 2 2023
Crawford’s Jonathan Hubbard to replace Tim Jarman as Australia president
The senior technical adjuster is set to start the role on August 21, with Jarman retiring at the end of the year.
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- August 1 2023
Howden appoints Amit Agarwal India CEO in leadership rejig
Mumbai-based Agarwal takes over from Praveen Vashishta, who has been appointed to the role of chairman.
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- August 1 2023
Asian aircraft lessors set for June 2024 trial over insurance claims on jets in Russia: report
SMBC Aviation, BOC Aviation and CDB Aviation are preparing for the hearing in cases involving several leading global (re)insurers.
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- August 1 2023
Australia’s SGUA approved as Lloyd’s coverholder
A specialist in residential investment properties since 1991, SGUA will leverage the Lloyd’s market from August 1 onwards.
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- July 31 2023
Nautilus Marine acquires SPT Insurance’s personal watercraft portfolio
The marine specialist MGA had entered into a business partnership a year ago with SPT to manage and underwrite this portfolio.
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- July 31 2023
Japan P&I Club sees increase in free reserves, ratings affirmed: S&P Global
The rating agency also revised the company’s financial risk profile upwards as its capital adequacy has improved to the 'AA' confidence level following a US$49m unbudgeted supplementary call.
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- July 31 2023
China Huanong P&C outlook negative over uncertainty in capital injection plan: Fitch
The BBB-rated Chinese general carrier's equity base had shrunk due to unrealised investment losses, the rating agency says.
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- July 28 2023
Earthquake risk concentration weigh on Reasuransi Maipark’s earnings: Fitch
The rating agency has affirmed insurer rating A with a stable outlook for the Indonesian reinsurer.
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- July 27 2023
Philippines eyeing national indemnity programme for 2024 after World Bank cat bond expiry
The country, hit this week by Typhoon Doksuri, is seeking US$37m in the 2024 national budget to cover the premium costs.
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- July 27 2023
Pacific International acquires 5.82% stake in Tower for US$8m
The Australian carrier acquired 22 million shares in the Kiwi general insurer.
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- July 27 2023
Steadfast, PSC among bidders for TA Associates’ Honan exit: report
The Goldman Sachs-run broker sale collected non-binding indicative offers from trade players and buyout firms for a deal that could be valued up to US$400m.
