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- October 31 2022
Labuan Re improves underwriting performance, will benefit from hard market: AM Best
Management’s remedial actions have helped, while the reinsurer can expect moderate premium growth.
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- October 31 2022
New South Wales government announces US$513m flood package
Since 2019 insurers have received more than 577,000 claims related to declared flood events to the value of $5.64bn.
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- October 31 2022
Australian insurance regulator names new chair
APRA has elevated John Lonsdale to chair and appointed Margaret Cole as deputy.
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- October 28 2022
IRDAI permits FRBs, Lloyd’s India to repatriate excess capital
Foreign reinsurers can withdraw up to 20% of assigned capital once a year, according to the circular.
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- October 28 2022
Brokerslink adds Uncharted as tech affiliate
The Singapore firm provides brokers, MGAs and insurers access to a cloud-based digital platform.
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- October 27 2022
IRDAI seeks to level the playing field for reinsurers
The insurance regulator proposes to remove state-owned GIC Re’s right of first refusal on Indian cedents.
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- October 27 2022
Policy wording failure key reason for Covid BI exposure: APRA
Insurers dithered because of a perceived “first-mover'' disadvantage of losing business if policies were adjusted to reflect Quarantine Act changes.
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- October 26 2022
Australia formalises US$630m special disaster fund
The Labor government’s first budget announced additional measures to strengthen insurance framework.
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- October 25 2022
Aon elevates William Pembroke to Thailand CEO
He replaces the broker's country leader of three decades Andrew Bentley, who moves to a senior consultant role.
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- October 25 2022
ICA estimates 9,251 insurance claims from ongoing floods
Record property damage, road, public infrastructure and sheer volume of water, likely says Victoria’s premier as rains continue.
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- October 20 2022
HDI Global Specialty makes Mark Fleiser Australia MD
Fleiser was most recently general manager and is based in Sydney.
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- October 19 2022
CTBC launches bid to become Taiwan’s first virtual insurer: report
The P&C carrier has filed an application with the Financial Supervisory Commission.
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- October 13 2022
BIDV Insurance facing ‘moderate’ capital adequacy volatility: AM Best
The Fairfax-backed insurer, whose ratings were maintained, was affected by changes in cat risk strategy.
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- October 12 2022
Allied World bolsters Singapore distribution with ex-Axa SME head
John Mestas has joined the global insurer in the Lion City as a vice president.
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- October 12 2022
Fitch affirms A- rating, stable outlook for China Taiping’s UK subsidiary
The subsidiary's underwriting result was US$4.3m in 2021, compared to a loss of US$25.2m in 2020.
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- October 12 2022
Kakao Pay kick-starts insurance arm with cyber launch: report
The product is expected to shorten the time it takes to pay claims for online financial fraud by over two months.
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- October 11 2022
Australian weather bureau forecasts summer of ‘above-average’ cyclones
There is a more than 70% chance of 11 or more tropical cyclones during the severe weather season, which this year witnessed one of the costliest nat cat events.
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- October 10 2022
Luen Fung Hang Insurance gets over pandemic impact with 58% COR: AM Best
The Macanese P&C player leveraged its distribution to stay second in the market with a 22.8% share.
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- October 7 2022
GIC Re issuer outlook downgraded to negative amid accounting scrutiny
AM Best affirmed the state-owned carrier’s long-term issuer credit rating of bbb+ and financial strength rating of B++ with a stable outlook.
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- October 7 2022
BHSI | Tracking claims trends in Asia
Tim Collier, Regional Head of Claims at Berkshire Hathaway Specialty Insurance (BHSI), on best practices for managing, servicing and resolving claims.
