Country: Asia Pacific Page 119 / 511
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- December 13 2023
IRDAI objects Reliance General Insurance owner’s plan to rejig ownership: report
The Indian insurance regulator has termed the move as “premature” and “sub-judice” as certain court cases are yet to be concluded.
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- December 12 2023
Australia prepares for Cyclone Jasper as ARPC declares cyclone event
The tropical cyclone is expected to cause extremely strong winds, heavy rain, and storm surge, with severe weather warnings already in place in northern parts of Queensland.
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- December 12 2023
Kiwi insurers settle claims worth US$1.7bn from twin weather events: ICNZ
87% of 115,353 claims worth US$2.2bn for Auckland Anniversary Weekend floods and Cyclone Gabrielle, two largest insurance weather events in the country's history, have been settled.
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- December 12 2023
China to pilot expanded agri cover scheme
The public-private partnership programme will provide coverage to rubber farmers in Yunnan, Hainan either on the costs or revenue of the insured plantation.
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- December 12 2023
Opinion: Navigating difficult waters for the Asia D&O market
A robust commitment by the regulators to adopt a stricter approach to enforcement means that this is by no means and easy class of business to write in 2024.
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- December 11 2023
Crawford picks Reuben Francis from Sedgwick as deputy managing director for Malaysia
Kuala Lumpur-based will be responsible for the technical quality and delivery of loss-adjusting services, client management and business development.
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- December 11 2023
WTW rejigs South-East Asia, Singapore corporate risk and broking leadership
Rupert Roberts will take on a new role as head of South-East Asia for corporate risk and broking, while Christine Lau will lead the team in Singapore.
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- December 11 2023
Singapore mulls expanding policy owner protection to third-party liability, travel cover
MAS' consultation paper proposes to enhance the coverage, simplify design, and improve operational efficacy of the insurance policy owners' protection scheme and it is open for comments till February 16, 2024.
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- December 11 2023
China Taiping HK bottomline to ride on investment income as underwriting performance remains marginal: AM Best
The Hong Kong insurer's rating of A (excellent) with a stable outlook has been affirmed by the rating agency, however, noted that COR has been above 100% despite a steady decline in loss ratios coupled with lowering expense ratios.
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- December 11 2023
Berkley promotes Ernest Teng as head of financial lines as Cassandra Lee departs
Singapore-based Teng will oversee the Singapore financial lines team and fac businesses from South-East Asia, Mauritius and Japan.
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- December 11 2023
Sompo International taps Crawford for APAC claims head
Pablo Diago has joined the (re)insurer in Singapore and will report to Paul O’Neill, president of commercial lines insurance for the region.
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- December 11 2023
Korean Re’ underwriting to benefit from plan to offload unprofitable domestic personal lines: AM Best
The Korean reinsurer's rating outlook has been upgraded to positive from stable on a strengthening balance sheet, robust operating performance and unchallenged business profile fundamentals, the rating agency said.
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- December 11 2023
Lack of investor awareness stifling Hong Kong’s US$560m cat bond market
Senior executives at insurers, brokers and the World Bank applaud the city’s effort to grow its insurance-linked securities market, but challenges remain.
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- December 11 2023
Wild weather troika of heatwave, bushfire, cyclone bear down on eastern Australia
Bureau of Meteorology (BOM) has put out a heatwave warning, a severe thunderstorm warning, a minor flood warning over the weekend even as Cyclone Jasper loomed.
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- December 8 2023
Asean reinsurers to set up regional renewable energy pool
Six South-East Asian reinsurers including Malaysian Re, which will be the pool manager, Indonesia Re, VinaRe, Cambodia Re, Thai Re and Nat Re have pledged to provide underwriting capacity.
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- December 8 2023
Tune Protect Re’s balance sheet strong, operating performance to improve post Covid-19: AM Best
The rating agency has revised the outlook of travel-focused Malaysian carrier Tune Protect Re to positive from stable and affirmed the financial strength rating of B++ (good).
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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.
