Country: Asia Pacific Page 115 / 501
-
- November 16 2023
Envest secures ‘substantial investment’ from a 15% stake sale to Macquarie
The transaction values the Ardonagh-owned insurance investment and distribution group at more than US$646m.
-
- November 16 2023
Rates have to catch up with losses to ease APAC’s offshore wind capacity crunch
(Re)insurers are showing no appetite even as projects pile up, especially in Taiwan, while premiums and risks remain disproportionate, industry sources say.
-
- November 16 2023
Carrot Insurance plans to raise US$230m by next year: report
The Hanwha Group-backed Korean digital insurer is seeking to secure funds through a paid-in capital increase allocated to shareholders and is aimed for better capital adequacy and investment funds.
-
- November 15 2023
Envest-backed Fitzpatrick & Co acquires Bricher Insurance
The Victoria-based family-owned insurance broker deals with commercial insurance, professional indemnity, property and industrial special risk products and is part of the Steadfast Broker Network.
-
- November 15 2023
KB Insurance completes US$100m loss portfolio transfer deal with Swiss Re
With the Howden Tiger arranged deal, the Korean carrier will transfer its US commercial multiperil and workers’ compensation lines' net loss and unearned premium reserves to the reinsurer as part of the insurer's US branch wind down plan.
-
- November 15 2023
Opinion: Government intervention key to addressing APAC’s insurability challenges
As insurers grapple with secondary perils, governments, especially in emerging Asia, need to look at prevention not cure.
-
- November 14 2023
Canopius’ Mark Newman to take charge as UK CEO
The (re)insurer's APAC chief executive will assume his new role on January 1, 2024.
-
- November 14 2023
New Zealand fully implements doubled natural hazard cover for insured homes
EQcover provides first loss insurance for damages caused by volcanic eruptions, earthquakes, tsunamis, land slips, and hydrothermal activity, as well as some limited cover for damage to residential land from storms and floods.
-
- November 14 2023
Korean carrier Construction Guarantee’s rating outlook revised to positive on strong underwriting performance: Fitch
The rating agency assigned an insurer rating of 'A' (strong) and said the company will maintain its underwriting returns and capital position in FY 2023 .
-
- November 14 2023
Tower nearly doubles discount lapse costs to US$10.3m, CEO apologises
The Kiwi insurer has now taken into account repayments to around 65,000 customers and also a potential regulatory penalty.
-
- November 14 2023
Gallagher Australia acquires Edgar Insurance Brokers
The Cobram, Victoria-based family business is the fifth acquisition by the global broker in Australia this year.
-
- November 14 2023
ICA panel to review general insurance code
The three-person panel led by former APRA deputy chair will complete the review in two phases deliver its findings by June 30, 2025.
-
- November 14 2023
Risk pools may not be the panacea for APAC’s cyber challenges: Gallagher Re’s Braney
As cyber-attacks continue to be huge issue for the region, governments should look at raising awareness, educating and knowledge-sharing, says the broker's head of international cyber.
-
- November 14 2023
Cosco Shipping Development sells Hong Kong insurance broking arm to group company for US$34m
Cosco Shipping International will take over the SAR-based Helen Insurance, which is principally engaged in vessel-related insurance brokerage services.
-
- November 14 2023
Kiwi carriers resilient despite record cat claims: AM Best
Solid premium growth on rate hikes and capital buffers afford a stable outlook for the industry, according to the rating agency.
-
- November 13 2023
Tokio Marine floats disaster prevention and mitigation services firm
Led by Masashi Namatame as president, Tokio Marine Resilience will support customers and local communities by paying claims as well as address the causes of losses such as flooding, landslides, earthquakes, and tsunamis
-
- November 13 2023
Peak Re to improve underwriting profitability in the next 12-18 months: Moody’s
The rating agency has affirmed its Baa1 rating taking into account the company’s a3 standalone credit profile, solid capitalisation, expanding product and geographic diversification and liquid investment portfolio.
-
- November 13 2023
Envest-backed Aviso buys Sydney SME specialist
The Trent Mockford-owned corporate authorised representative business has US$3.82m in gross written premium.
-
- November 13 2023
IAG joins Australian cyclone reinsurance pool
The carrier's brands will pass on savings from the pool to new customer policies and renewals for home, commercial property, residential strata and landlord policies.
-
- November 13 2023
Mapfre Re will ask for corrections from clients as ‘there is no room for flexibility in Asia’
Regional head Javier Sánchez Cea says, the Spanish reinsurer is targeting China as part of its wider APAC strategy to grow life, casualty, bond and credit lines.
