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- November 1 2024
Reinsurers guarding themselves to “not let loose” at 1.1 renewals, says Peak Re’s Hahn
Unstable interest rates, geopolitical uncertainty and more severe and frequent secondary perils mean that reinsurers remain in a difficult position and should not be expected to cede significant ground on rate at the forthcoming 1.1 renewals.
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- November 1 2024
APAC’s economic surge to drive global insurance market growth: Gallagher Re
The cyber insurance market in the Asia Pacific region is growing at an annual rate of about 50%, according to the broker's latest regional market watch.
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- October 31 2024
Steamship sets benchmark for P&I clubs with 5% general increase for 2025 renewal
The IG P&I club has also announced a capital distribution of 12.5% of the 2024-25 mutual P&I premium to its members who renew in 2025.
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- October 30 2024
APAC reinsurers likely to see modest growth amid moderating economic indicators: S&P Global
Companies face headwinds from rising physical risks, a slower economic outlook, and still costly retrocession cover, according to the rating agency.
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- October 30 2024
Price Forbes expands Singapore employee benefits team
The Ardonagh Group-owned specialty brokerage has hired Syafiq Zulkifli from Honan Insurance Group, where he was a senior client executive, Asia.
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- October 29 2024
South Korea’s Construction Guarantee faces stress from growing claims, 2023 COR at 125.36%: Fitch
The ratings agency has affirmed the cooperative surety insurer's financial strength rating at A (strong), with a stable outlook.
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- October 29 2024
Capitalisation offsets Aswata’s declining motor premiums, higher claims: Fitch
Fitch Ratings Indonesia has affirmed Aswata’s rating at 'AA (idn) with a stable outlook.
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- October 29 2024
Tysers names new Singapore CEO and APAC marine head in regional push
Babita Rai has been promoted to CEO of the AUB Group-owned broker in the Lion City and William Furness-Smith has been appointed head of marine for APAC.
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- October 28 2024
Marsh appoints Shahrezal Wan as placement manager
Singapore-based Wan was previously vice president, senior client underwriter with Swiss Re.
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- October 28 2024
Tokio Marine Kiln taps Starr’s Alexandros Ampatzis as head of marine, APAC
Ampatzis will primarily focus on deepening the carrier's presence in target markets across the region and continuing the team’s rapid growth, reporting to TMK’s regional underwriting director Jamie Tang.
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- October 28 2024
Insurers cover 99% of eligible under cyclone pool scheme: ARPC
The annual in-force cyclone pool premiums were approximately US$343m for home policies, US$34m for strata and US$16m for SME policies.
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- October 28 2024
NZ’s Maritime Mutual clarifies its coverage of dark-fleet tanker involved in fire ceases on violation of sanctions
The Lloyd's backed P&I club that is believed to be the insurer to tanker that caught fire off Malaysian coast in July, said in a statement said that no payment is made to any party to a claim it would breach international sanctions.
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- October 27 2024
Allianz Singapore likely to achieve earnings breakeven in 3-5 years: S&P
The Singapore government blocking its Income acquisition will have no implication on its rating, the rating agency said affirming the insurer's A+ financial strength rating with a stable outlook.
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- October 25 2024
Dali owner, operator reach US$100m settlement over Baltimore bridge collapse
Singapore-based Grace Ocean and Synergy Marine, the owner and operator of the cargo ship that struck the Francis Scott Key Bridge in the US earlier this year, have agreed to pay the amount to the US federal government.
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- October 25 2024
Taiping Singapore could see volatile underwriting, investment results impact earnings: AM Best
AM Best has affirmed an insurer rating of A (excellent) with a stable outlook for the company, primarily driven by a strong balance sheet.
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- October 24 2024
QBE partners Eos Rhea Metis to offer risk engineering services in greater China, South-East Asia
The partnership with the Taiwanese risk manager will support engineering and property underwriting, enhanced risk assessment processes and wider market access.
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- October 24 2024
Howden names Wendy Wong as executive director for Workplace Unity in Hong Kong
Wong will focus on developing healthcare services for injured employees in employees’ compensation cases, aiming to reduce sick leave periods and claim costs.
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- October 24 2024
Rare Earth launches wholesale insurance broker in mainland China
To be led by Wang Wei and Mark Gu, the +8 Partners company will also bring overseas insurance business into China, which will be traded in the Shanghai International Reinsurance Centre.
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- October 24 2024
Marble Re’s underwriting profitability to remain stable: AM Best
AM Best has affirmed the captive reinsurer’s rating at A- (excellent) with a stable outlook, driven by its strong balance sheet and strong operating performance.
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- October 23 2024
Indian regulator urges large businesses, conglomerates to foray into insurance: report
The IRDAI claimed that the regulatory processes in the country have been streamlined, making it easier for new companies – business houses, PE firms, venture capitalists and family offices - to set up shop.
