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- August 31 2023
Hong Kong P&C overall underwriting profits dive 43% in H1 2023
Direct insurance business saw a 60% decline in underwriting results, while reinsurance inward business saw a 2.5% decline year-on-year.
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- August 31 2023
Three Japanese majors to raise motor premiums for first time in four years; Sompo Japan postpones hike: reports
TMNF, Mitsui Sumitomo and Aioi Nissay Dowa plan to raise rates by up to 3% in January, while Sompo to hold prices as it recovers from the Bigmotor fraud scandal.
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- August 30 2023
Howden Specialty appoints Bozidar Ljubisavljevic in Singapore as executive director, marine
Ljubisavljevic, who relocates to the Lion City from the broker's Dubai office, will service marine and logistics clients in Asia Pacific.
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- August 30 2023
PICC P&C’s H1 underwriting profit for commercial property zooms 165%; overall COR at 95.8%
China's largest P&C carrier's H1 underwriting profits were up 7% to US$1.3bn, while its COR was flat.
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- August 29 2023
Ping An P&C H1 underwriting profit down 27.3% to US$411m, COR up at 98%
The Hong Kong-listed insurer's P&C premium income in the first half of 2023 grew 4% to US$21.4bn.
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- August 29 2023
MG Non-life sale process resumed, sets October 5 deadline for letters of intent: report
The Korea Deposit Insurance Corporation has kicked off its second attempt to sell the beleaguered general insurer following the dismissal of a lawsuit by the largest shareholder.
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- August 29 2023
Howden taps Aon’s Abhijit Sethi for India chief operating officer role
Sethi, who was chief broking officer for Aon, will oversee pan-India placements, and has been tasked to optimise business operations for the broker.
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- August 28 2023
China Pacific’s P&C H1 COR climbs to 97.9% as underwriting profit falls 12% to US$252m
The general insurer's liability line of business grew 35% and agricultural premiums saw a 34% year-on-year increase.
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- August 25 2023
ASIC doubles down on pricing scrutiny with a new civil penal proceeding against IAG
The regulator alleges in a court filing that the insurer, which was fined US$26.5m in June for pricing misconduct, pumped up prices before applying loyalty discounts for customers renewing their home insurance policies.
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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.
