Country: Asia Pacific Page 120 / 516
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- January 5 2024
Directors & officers seek cover as climate risks enter boardrooms
With mandatory ESG reporting deadlines fast approaching, there is growing demand for climate coverage as part of D&O policies, says Axa's Chelsea Jiang.
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- January 5 2024
WTW strengthens its corporate risk & broking business in Singapore with two senior promotions
Ernest Heng (pictured left) has been promoted to head of specialty while David Ng (pictured right) becomes head of client services.
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- January 5 2024
Tune Protect Re appoints new CEO
Kuala Lumpur-based Janet Chin will report to the group chief executive Rohit Nambiar.
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- January 4 2024
‘Smooth’ 1.1 renewals as ample capacity, earnings rebound drive reinsurer appetite: Aon
Agggregate covers are back on the table but property per risk renewals remain challenging due to loss activity, says the broker.
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- January 4 2024
AIG leads US$130m all-risk cover for Japan Airlines plane: report
The Japanese airline has estimated a US$104m operating loss following the collision of its flight JL516 with a Japan Coast Guard aircraft at Tokyo’s Haneda Airport and complete loss of one aircraft on January 2.
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- January 4 2024
Suncorp and IAG say December wild weather claims tracking below nat cat allowance
While the total cost of the two events have yet to be determined, Suncorp said it has US$459m in natural hazard allowance and IAG has US$114m till December 2023.
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- January 4 2024
IAG renews 2024 cat program with US$7bn protection, adds US$67m New Zealand cover
In conjunction with its 32.5% quota share, the Australian carrier’s retention is flat at US$159m.
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- January 4 2024
(Re)insurers to keep an eye on inflation, climate risk and geopolitical tensions in 2024
Expectations for a recovery in growth, orderly renewals, improved supply-demand dynamics, easing of retro market conditions point to a shift in sentiments and the industry’s resilience.
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- January 4 2024
Allianz Singapore to accelerate premium growth despite domestic challenges: S&P Global
The rating agency has confirmed the carrier's 'A+' rating with a stable outlook.
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- January 4 2024
WTW appoints Clelia Grech as head of global services and solutions Asia
Grech, who will be part of the broker's international programs team, will be based in Hong Kong.
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- January 3 2024
ICA extends insurance catastrophe declaration to January 3 as extreme weather continues
Almost 38,000 insurance claims have been lodged following the weather that has impacted Queensland, New South Wales, and Victoria since December 23.
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- January 3 2024
Korea’s FSC expands eligibility and scope of joint underwriting agreement on fire insurance
The polices can now cover damage resulting from natural disasters, building collapse, and leaks from water supply or drainage systems, as desired by the policyholder.
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- January 3 2024
APAC 1.1 renewals see ‘flat to 5%’ hikes on loss-free programs: Gallagher Re
Excess of loss pricing adjustments in Asia reverted to levels reminiscent of the period preceding the market hardening in 2023.
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- January 3 2024
Eastern Australia’s wild weather claims in December top 40,000: ICA
While insurers received more than 37,000 claims from the Christmas storms across three states, the Cyclone Jasper claims from northern Queensland crossed 6000.
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- January 2 2024
Australia Christmas storms has potential to exceed US$1bn loss level: CRESTA
The two record-breaking New Zealand weather events in early 2023 and the August China floods among 7 non-US cat events with billion-dollar industry losses.
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- January 2 2024
Philippines pilots US$14.4bn nat cat cover for ‘strategic’ government assets
The programme covers 132,862 school buildings nationwide starting January 1 and the US$36m premium for the insurance was paid using the excess payout it received from the catastrophe bond.
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- January 2 2024
No letting up for Australian broker consolidation
Global players' expansion plans, the growing regulatory burden on smaller firms and the increased sophistication of clients have created a market where buyer’s and seller’s motivations align.
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- January 2 2024
Korea non-life market to rebound in 2024 with GWP set to cross US$100bn mark: Korean Re
Growth is likely to be supported by casualty lines of business, especially liability, amid increased awareness of the importance of corporate liability protection and the expansion of compulsory insurance.
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- January 2 2024
Howden hires regional M&A director based in Hong Kong
With the appointment of Wong Hui Ling, the global broker aims to bolster its M&A capabilities.
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- January 1 2024
Global property cat rates near-flat at 1.1 with ‘ample capacity’: Guy Carpenter
Availability of property retro capacity led to improved buying conditions, particularly at more remote levels with retention levels holding steady and greater consistency in terms and conditions.
