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- December 9 2022
CBIRC to start on-site inspections and tighten oversight of fund use by insurers
Average solvency ratio of property insurance companies and reinsurance were adequate at 238.9% and 309.1%, respectively, according to the regulator.
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- December 8 2022
Zking P&C’s outlook stable on state support and improved underwriting results: Fitch
Zking reported a combined ratio of 96% for the nine months that ended September 2022.
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- December 8 2022
Chubb acquisition positive for Huatai P&C: Fitch
Chubb has been handed regulatory approval to acquire 83.2% of the business.
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- December 7 2022
Korea’s new capital standard to kick in from next year: report
The new capital regime, together with IFRS 17, is likely to squeeze insurers' capital buffers.
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- December 7 2022
China Taiping UK completes transfer of EU book to Darag
The legacy decision was taken as a result of the UK's decision to the EU.
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- December 7 2022
Japan, Korea and China stable as global P&C outlook turns negative: Moody’s
In most regions across the globe claims inflation is hurting underwriting profitability.
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- December 6 2022
China non-life carriers to see steady premium growth, sound solvency buffer: Fitch
Non-motor to be the growth driver due to regulatory initiatives and low market penetration.
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- December 5 2022
Suncorp New Zealand hires Tower underwriting head
Nicholas Meister has joined the Australian insurer's arm as executive manager for broker business and channel partnerships.
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- December 5 2022
Meritz Fire & Marine’s loss ratio outperformed domestic peers: AM Best
The rating agency upgraded Korea’s fifth largest non-life carrier's rating to A on its strong profitability.
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- December 5 2022
Hotai Insurance downgraded by AM Best over ‘significant’ pandemic claims
The Taiwanese general insurer has been rated at B++ as Covid-19 claims wiped off US$853m capital injection by parent Hotai Motor.
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- December 5 2022
Nan Shan General to see through Covid claims damage: AM Best
The Taiwanese P&C carrier had reported a net loss of US$426m primarily due to pandemic claims
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- December 3 2022
Cornerstone Risk acquires broker PMA Trilogy
This is the third acquisition by the Brisbane-based broker in as many months.
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- December 2 2022
Aon appoints John Morley as APAC leader for strategy and technology group
The former EY executive will join the broker's Singapore office and report to Colin Forrest.
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- December 2 2022
West of England names new head underwriters in Singapore and HK
Senior underwriters David Griffiths will take charge in the Lion City and Xuanlun Cai in the SAR.
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- December 2 2022
TuguRe to reduce credit insurance and fire exposure to boost profits: Fitch
The Indonesian firm's GWP grew 41% in H1 2022 after shrinking by 19% in 2021 and 8% in 2020.
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- December 2 2022
Japan’s insurers to improve profitability from domestic underwriting in 2023: Fitch
All three major non-life groups’ net insured losses from local nat cats more than tripled in H1 2022/3.
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- December 1 2022
Honan Insurance acquires logistics expert ATIA
The Melbourne-based target, which will continue to use its brand, also offers financial and political risk advisory.
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- November 30 2022
AM Best sees decline in available reinsurance capital by year-end, outlook remains stable
Pricing is likely to further harden by end of the year and it could impact 2023 renewals, the rating agency said.
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- November 30 2022
Zurich remains ‘open to India opportunities’ as it drops out of Reliance bid
The Swiss carrier had reportedly bid US$465m for the general insurance arm of Reliance Capital in the previous round.
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- November 30 2022
Australia floods: insurers settle US$2.37bn in 2022 claims
About 69% of the 237,000 claims raise this year have been settled to date, according to data from the Insurance Council of Australia.
