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- August 25 2023
War risk premiums for Russian oil shipments on the rise: report
Rates have gone up from around 1% of the cargo's cost to some 1.20-1.25% hurting Asian importers who are the biggest importers of Russian crude.
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- August 24 2023
PSC Insurance founder Paul Dwyer to become chairman as Brian Austin takes on Asia role
Austin will remain on the board as deputy chairman and become chair of the broker’s Asian businesses as profits start to flow in Hong Kong.
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- August 23 2023
PSC Insurance’s 2023 net profits up 23% to US$50m
The ASX-listed broker's Australia and New Zealand distribution business placed US$740m in GWP.
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- August 22 2023
AUB Group’s net profit zooms 74% in FY 2023
The Sydney-headquartered broker’s group revenues crossed the billion-Australian-dollar mark as Tysers’ earnings exceed forecasts.
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- August 22 2023
Mitsui Sumitomo pays out US$26m to ispace in lunar insurance claims
The Japanese space startup received the insurance payment on August 18 following the failure of its Hakuto-R Mission 1 lander mission in April this year.
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- August 21 2023
Hyundai Insurance’s H1 underwriting income drops 30%
The Korean carrier's total direct premiums grew 4.21% year-on-year to US$6.25bn in the first six months of the year.
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- August 21 2023
Marsh swoops on Australia’s Honan Insurance
The TA Associates-backed specialist broker has reportedly been valued at US$450m.
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- August 21 2023
Australian carriers paid out US$23bn in claims last year: ICA
In 2022, more than 300,000 disaster-related claims were lodged from four declared insurance events across the country, costing more than US$4.4bn in insured losses.
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- August 18 2023
US insurers have US$1.3bn exposure to China Construction Bank letters of credit: AM Best
The Chinese lender has seen a 1,560% year-on-year increase in reinsurance collateral LOCs issued.
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- August 17 2023
Opinion: India’s delayed insurance reforms will hurt growth agenda
With the much-anticipated parliamentary bill shelved, the government needs to act fast to ensure that the industry gets its due.
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- August 15 2023
Samsung Fire & Marine H1 insurance profit up 19.5% at US$950m
The South Korean carrier’s net profit for the first half of 2023 grew 27.4%, buoyed by investment profits.
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- August 15 2023
Vesttoo files for Chapter 11 protection; board says no plans to liquidate
The move will provide the Israeli insurtech protection from its creditors and breathing room to pursue legal actions, the company claims.
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- August 15 2023
KB Insurance H1 2023 underwriting profit at US$400m
The Korean P&C carrier's direct written premiums for the period increased 4% year-on-year to KRW6.4tn.
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- August 14 2023
Gallagher Australia acquires rural specialist Insurance Risk Solutions
The Darwin-based family business is the fourth acquisition by the global broker in Australia this year.
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- August 14 2023
Clement Cheung reappointed CEO of Hong Kong Insurance Authority
Cheung, who has been heading the regulator since 2018, will serve another three-year term till August 14, 2026.
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- August 4 2023
Vesttoo scandal contagion to curtail Asia business
The fallout is unlikely to affect Asia cedents but could create capacity constraints for MGAs and reputational damage in the insurtech and ILS spaces.
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- August 2 2023
QBE betting on specialty, GBA to drive north Asia growth
The carrier is looking to leverage its global expertise, build regional partnerships and 'supercharge' distribution channels, says region chief Lei Yu.
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- July 31 2023
Ben Carey to join Chubb as APAC head of field operations
Carey, who is leaving Everest Insurance, will start the newly created role in Q1 2024 and be based in Singapore.
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- July 27 2023
CTBC Insurance announces US$95m capital reduction plan
The proposal is to offset losses following claims from Covid policies sold last year and the capital reduction will have no impact on its capital adequacy and net worth ratios.
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- July 26 2023
Chubb’s APAC P&C premiums grew 12% in Q2 2023
The insurer’s Asia Pacific NWP for the first half of the year, excluding Japan, climbed 13% to US$1.5bn.