InsuranceAsia News, Author at InsuranceAsia News

April 20 2023

Korean P&C insurers falling short on oil and gas exclusions

While most of the insurers have started acting on coal policies, only Samsung has extended it to the petroleum industries.

April 20 2023

BOC Aviation awarded US$400m by US court for planes stranded in Russia: report

The aircraft lessor said AirBridgeCargo went into default after being unable to maintain required reinsurance coverage.

April 20 2023

Sedgwick appoints key leaders in forensic accounting team

Andrew Cardamis and Jillian Pancott have been promoted to partner and director respectively, and bring over a decade of client experience.

April 19 2023

HDI Global Australia appoints state manager for southern region

Stephen Jones joins the carrier from Marsh, where he was managing director for affinity in the Pacific region.

April 18 2023

Allianz Trade expands Asia excess of loss business

The global trade credit insurer will add new headcount in Singapore, Hong Kong, Australia, Japan and Malaysia.

April 18 2023

WTW elevates My Thien Nguyen as Vietnam country leader

Nguyen, who was the broker’s CFO for the country, replaces Philippe Robineau.

April 18 2023

RMS Moody’s appoints client director in Singapore

Corene Lim, who joins the modeller in Singapore, was earlier a market development analyst at AM Best.

April 18 2023

ACCC extends Suncorp bank sale review period

Acquirer ANZ has agreed to an extension of the regulatory assessment period from June 12 to July 28.

April 18 2023

Malaysian general insurers’ underwriting profit contracts 23% in 2022

Gross direct premiums grew 10% year-on-year to US$2bn in the last calendar year, according to data from General Insurance Association of Malaysia.

April 17 2023

Chinese non-life carriers have solid capital, reinsurance to face cat risks: Fitch

A steady investment yield contributes favourably to most insurers’ overall operating stability and underwriting performance.

April 17 2023

HKFI seeks easier re-domiciliation and improved positioning to attract global majors

Policy recommendations have been submitted by the Hong Kong Federation of Insurers to the Financial Services and Treasury Bureau and the Insurance Authority.

April 16 2023

Zhongyuan Agricultural Insurance scripts COR turnaround

The Chinese carrier, which was rated A- (strong) with a stable outlook by Fitch, posted a 90% combined ratio last year compared with 104% in 2021.

April 14 2023

ICNZ chief questions proposal to hike fire service levy

Fire and Emergency New Zealand has proposed a 12.8% increase in the levy on insurance policies to cover a funding shortfall.

April 14 2023

Tugu Insurance (Hong Kong) continues diversification push: AM Best

After years of 'unstable' underwriting results, the Indonesian-owned insurer has moved away from construction employees’ compensation to focus on lines such as a goods in transit.

April 13 2023

AIG appoints Chris Colahan as APAC president

Colahan will join AIG from Berkshire Hathaway Specialty Insurance where he was president of UK & Europe.

April 13 2023

New Zealand nat cat claims set new record for 2022: ICNZ

At US$218m, it is the third consecutive year a new record has been set, with 2023 already surpassing the total from January and February events alone.