Country: Asia Pacific Page 110 / 501
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- December 8 2023
Howden names Wallace McLean’s Nigel Wallace as New Zealand CEO as brokers complete merger
The broker's current CEO René Hattingh will become head of technical delivery, initially concentrating on servicing clients in the scheme and affinity space and reporting directly to Wallace.
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- December 8 2023
North Australian home insurance rates ‘substantially more’ than rest of country despite cyclone pool: ACCC
Insurance prices in the north, across home, strata and SME covers, remain high but the rate increase in 2022–23 is less than in the rest of Australia, the competition regulator said.
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- December 8 2023
Moody’s cut in China outlook hits Sinosure, PICC, CPIC P&C, China Life P&C and 2 captives
The downgrade warning reflects evidence that financial support will be provided to financially stressed local governments and SOEs, posing broad downside risks to the country's fiscal, economic and institutional strength, the rating agency said.
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- December 8 2023
South India floods: Insured losses could cross half-a-billion-dollar mark
Home and commercial property claims, BI losses continue to climb as the industrial hub of Chennai has yet to recover from the flooding, say local loss adjusters.
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- December 8 2023
CSM growth to drive Korean non-life insurers’ assets, profitability: Fitch
Korean non-life insurers to be stable in 2024, amid a high-interest-rate environment, despite facing uncertainty over the operating environment, with prolonged inflation and high interest rates.
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- December 7 2023
Australia’s financial advice reform package to facilitate access to insurance: ICA
The recent changes, among them modernised best interests duty, will allow insurance customers receive advice directly from the carriers and be better informed which ICA sees as an important matter in the context of the growing protection gap.
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- December 7 2023
Meritz Fire & Marine Insurance’s low loss ratio supports stable outlook: AM Best
The rating agency says strong earning stream will support its balance sheet strength, but real estate loan exposure requires monitoring.
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- December 7 2023
Oona buys out InLife stake in Filipino general insurance JV
The Warburg Pincus investment vehicle will acquire the outstanding 40% stake in the non-life business that it had bought from Mapfre last year.
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- December 7 2023
AIG takes BHSI exec as APAC chief operating officer
Ryan Storan joins the insurer in Singapore, relocating from Dublin, where he was head of operations for the specialty (re)insurer.
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- December 7 2023
Singapore, Hong Kong set to see wave of insurance M&A in 2024
A Clearwater Analytics survey of insurers and insurance asset managers in the region noted that PE firms have taken an increasingly positive view on the acquisition potential of carriers in the two cities.
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- December 7 2023
Global brokers making headways in Japan’s tough insurance market
As the industry battles governance issues and scandals, the agent-dominated market is seeing a shift towards professional intermediaries with specialist skills and independent advice.
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- December 7 2023
China non-life premium growth ‘unlikely to accelerate’: Fitch
Underwriting results of smaller insurers to remain volatile because many of them are still in the midst of building their non-motor insurance portfolio.
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- December 6 2023
Malaysian Re continues to tighten its underwriting term, review retrocession arrangements: Fitch
The rating agency has confirmed the reinsurer's 'A' (Strong) rating with a stable outlook, based on very strong capitalisation and earnings.
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- December 6 2023
IAG general counsel Peter Horton leaves over ‘misconduct’
"Horton’s behaviour has fallen short of the expectations in IAG’s employee code of ethics and conduct", IAG chief executive Nick Hawkins said.
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- December 6 2023
HDI Global forays into Asia’s A&H market with Lisa Leow hire
Leow will lead the A&H offering from Singapore, reporting to Graham Silton, managing director and principal officer, and Sydney-based Chris McDowell, underwriting manager, accident & health Australasia.
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- December 6 2023
China’s financial regulator launches consultation on green insurance development
The National Administration of Financial Regulation targets a full-fledged green insurance servicing sector by 2030.
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- December 6 2023
Fidelidade Macau benefits from parent support, strong capital adequacy: Fitch
The rating agency has upgraded the P&C carrier's financial strength rating to A with a stable outlook, noting Macau's post-pandemic recovery.
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- December 5 2023
Asean insurers resilient to impacts of inflation, monetary tightening: Malaysian Re
Carriers reacted with a mix of measures including price hikes, tighter terms, reallocation of capacity and screening of their portfolios, according to the reinsurer's annual Asean insurance pulse publication.
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- December 5 2023
Rising premium will boost Japan non-life insurers’ results: Fitch
The rating agency maintained a neutral outlook as carriers’ profitability remained resilient despite net insured losses from domestic nat cats stayed high in H1 FY 2023.
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- December 5 2023
Pop Holdings adds Nicole Coleby as managing partner in Melbourne
In this newly created role, Coleby will be in charge of operations and managing teams at Fusion Specialty and io.insure, reporting to Pop's co-founders Killian McDermott and David Rogers.
