Country: Asia Pacific Page 116 / 502
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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
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- 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.
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- 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.
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- 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.
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- 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.
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- November 13 2023
BOC Aviation gets US$208m settlement for jets stranded in Russia
The lessor would reportedly abandon legal claims after Russian airline Aeroflot clinched a deal with insurer NSK to pay off the Chinese company.
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- November 10 2023
ZhongAn Online P&C to benefit from ability to integrate tech innovation into insurance operations: AM Best
The rating agency has affirmed the Chinese online-only insurer an A- (excellent) rating with a stable outlook taking into account its very strong balance sheet.
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- November 10 2023
Marine war premiums climb after fatal strike on Philippines-owned bulk carrier: report
Premiums have risen to 3% of the value of the vessel from around 1% before the attack on the vessel, which was insured for US$15m and damages seen at US$4m without liabilities for the crew, the report said.
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- November 10 2023
GIC Re reports 9% dip in H1 earnings, COR deteriorates to 117%
The state-owned reinsurer reported a premium income of US$23.5bn and a profit after tax of US$2.85bn.
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- November 10 2023
QBE Asia hands Cynthia Huang additional charge as Taiwan desk lead
Hong Kong-based Huang, who is also the head of financial lines for the carrier, will be responsible for distribution and business development.
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- November 10 2023
Peak Re | From cybercrime to mental well-being: evolving needs of emerging Asia
Managing these daunting risks will require a multi-stakeholder approach to risk identification, financing and mitigation.
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- November 10 2023
Prepare to deal with US$200bn annual cat losses: Verisk
Flood remains the most tangible gap when it comes to modelling and quantifying risk as catastrophes across APAC are becoming more extreme.
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- November 9 2023
Two foreign brokers get licences to set up China operations
In a first in 5 years, BMW and Ergo-FRESCO have been given regulatory approval to offer insurance and reinsurance broking.
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- November 9 2023
Berkley Insurance Australia names Kirsty Owens as national e-business manager
Greater Adelaide-based Owens will report to BIA chief executive officer Tony Wheatley.
