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- June 29 2023
RACQ withdraws from Queensland CTP scheme
This decision follows a long-standing demand from the insurer to fix the scheme's lack of ‘equitable distribution of risk’.
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- June 28 2023
Long-term products, auto to drive growth for Korean insurers: AM Best
Stable outlook ahead for Korean non-life insurance business as IFRS 17 is expected to bring in more stability.
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- June 28 2023
IRDAI to kick off new risk-based supervision in July
IRDAI had tied up with Toronto Centre (TC), a not-for-profit organisation, to develop RBS framework guidelines.
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- June 27 2023
APAC nat cat economic losses at US$80bn in 2022: Aon
Floods were the costliest peril accounting for about 61% of the total economic loss for the region.
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- June 27 2023
Arch Australia hires Katrina Palmer as senior underwriter
Brisbane-based Palmer is a financial lines specialist and will report to Steven Gaitanis.
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- June 27 2023
Scor appoints Fabrice Bregier as chairman
Bregier succeeds Denis Kessler, who died earlier this month.
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- June 26 2023
Tropical storms in western north Pacific to be above average in 2023: Moody’s RMS
Sea surface temperatures across the region comprising Japan, Taiwan and the Philippines are expected to be near or above average between July and November.
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- June 26 2023
Korean construction insurer KSCFC eyeing overseas expansion to reduce risk: Fitch
The rating agency has assigned the cooperative an insurer rating of 'A' (strong) with a stable outlook, a notch above its standalone credit quality.
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- June 26 2023
360 Underwriting hires IAG senior executive
Sydney-based Natalie Kaczanowski joins the AUB-owned MGA as national underwriting manager.
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- June 23 2023
UOI’s rating affirmed on strong underwriting results and investment portfolio restructure: AM Best
The rating agency has affirmed an insurer rating of A+ (superior) with a stable outlook.
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- June 23 2023
WTW India appoints Anand Kolhe as exec vice-president, facultative reinsurance
Prior to this move, he was associate director with Gallagher’s Indian insurance brokerage arm Edelweiss Gallagher Insurance Brokers.
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- June 23 2023
PICC Hong Kong expanding reinsurance portfolio, mainland sales: AM Best
The rating agency has affirmed A- (excellent) rating for the Hong Kong carrier with a stable outlook.
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- June 23 2023
Insurers settle US$670m from US$1.9bn of claims from twin disasters: ICNZ
General insurers in the country received 107,569 claims from the flooding event in Auckland and Cyclone Gabrielle.
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- June 22 2023
Tokio Marine Newa Insurance raises fresh capital after FSC warning
Taiwan's regulator had ordered the insurer to bring in more capital by the end of June or it would be taken over.
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- June 22 2023
60% of crop exposure uninsured against nat cats: Swiss Re
The reinsurer estimates the global agri protection gap at US$113bn in 2022, up by 28% in nominal terms from 2016.
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- June 21 2023
Korea’s Nonghyup Property and Casualty inks strategic parternship with Vietnam’s PVI Insurance
The two carriers plan to extend reinsurance capabilities and share customer networks and services in South-East Asia.
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- June 21 2023
Japan’s FSA orders non-life insurers to explain allegations of cartelisation
Tokio Marine & Nichido, Sompo Japan, Mitsui Sumitomo and Aioi Nissay Dowa are alleged to have 'pre-adjusted' fire insurance premiums.
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- June 20 2023
Marsh sued by Greensill investor over US$143m insurance: report
White Oak has accused the broker of failing to take reasonable steps to ensure accurate representations in relation to the now-collapsed financier's trade credit insurance.
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- June 20 2023
Seoul Guarantee Insurance files for Korea Exchange listing: report
Samsung Securities and Mirae Asset Securities have been appointed as the lead underwriters for the proposed IPO.
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- June 20 2023
Indian government tells carriers to hold third-party motor rates: report
New premium rates for compulsory motor covers will take effect from August, with reductions in certain categories.
